CCP credit corp group limited

2.25%

$13.20

CCP in trouble? Cap raise after directors dumped on market. Red flag, page-21

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JamesRS

599 Posts.

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22/04/19

12:28

Post #: 38224900
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Originally posted by Pioupiou: ↑

One of the things that all companies in the PDL busines experience, is that the debtors who agree to a formalised repayment schedule have a relatively high tendency to honour the agreements. From memory, I think about 80% of CCP's collections flow from such arrangements.

I also wondered if CCP negotiated inducements to get the debtors to agree to repayment arrangements, and I assumed that it may well do so. Whatever it does, we can deduce from the amortisation/collections ratio that CCP collects the reciprocal of that ratio. Consequently, if the amortisation/collections ratio is typically about 47%, then CCP typically collects 1/47% = 2.13 times what it pays for PDLs.

If CCP dampens its rate of purchasing PDLs for a while, and focuses on collecting older debt, as was the case for two stints of time over the last decade, then the amortisation/collections ratio would drop a bit, but the cost-to-collect would tend to be higher.

I did not mention the matter of concessions to get repayment agreements in my previous post, because I had no feel for what the concessions might be. Concessions are probably a mixture of fiddling the principal sum owed, and the interest rate applied. The latter could be effected by conceding interest-free windows of time. This is an area where there may be a difference between CCP and the likes of CLH and PNC. I simply do not know enough to opine on the matter.

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cheers for your analysis - I often find that for each stock there are two, maybe three people who know it better than anyone else and for CCP you’re definitely that.

Also, happy belated birthday, hope you had a cracker

CCP Price at posting: $23.45 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $13.20		Change 0.290(2.25%)		Mkt cap ! $898.4M

Open	High	Low	Value	Volume
$12.89	$13.30	$12.70	$7.519M	570.1K

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No.	Vol.	Price($)
1	2000	$13.18

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Price($)	Vol.	No.
$13.24	3024	2

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No.	Vol.	Price($)
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1	2000	12.770
2	1714	12.700
1	1000	12.680
5	940	12.500

Price($)	Vol.	No.
13.300	500	1
13.310	1477	1
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13.500	813	2
13.580	300	1

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