I had written in a draft of my previous post that although Intrum did well on the collections front, it experienced difficulty securing fresh PDLs, which I mooted would not be the case for CCP in Australasia, because CLH and PNC are less capable of buying PDLs in Australia, and acquiring Baycorp has opened up NZ for CCP. Anyhow, I deleted that bit, because I did not want to write much, other than to provide the link to Intrum's Q3 results.
CCP has probably performed better than either Enron or Intrum, which supports my hoary argument that CCP over impaired its PDL carrying value in response to covid-19. The other side of the argument is that CCP had relatively more fresh PDLs than usual. Anyhow, there is not much point belabouring the issue, the results in coming years will speak for themselves.
CCP Price at posting:
$19.02 Sentiment: Hold Disclosure: Held
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