nw99
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Post by nw99 on Mar 17, 2018 21:34:26 GMT
Please can all those selling loans 1000039, 1000049 & 1000078 (D*********** E******) at a discount also sell the loans with the same director (AF) at a tasty discount too? Willing buyers are waiting Bought all I can still bidding please sell more at a discount
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blender
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Post by blender on Mar 17, 2018 23:24:19 GMT
Please can all those selling loans 1000039, 1000049 & 1000078 (D*********** E******) at a discount also sell the loans with the same director (AF) at a tasty discount too? Willing buyers are waiting Bought all I can still bidding please sell more at a discount Sold all I need to, thanks. Security and guarantors are all very good, but they are there for when things go wrong. If things go wrong I would prefer not to be there too heavy. The rating change just encourages a review of the size of holding, which is the new info doing its job by informing SM trading. As a result both sellers and buyers seem to be happy - win/win. New loans, please!
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elliotn
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Post by elliotn on Mar 18, 2018 5:47:04 GMT
I’m also very pleased to see the additional information however I’m not sure how to interpret it or what conclusions to draw from it. For example, I instantly sold out of D*********** E****** Refinance II yesterday as soon as I saw that the rating had dropped from 48 to 11 and that there was no trading information for 2017. I’m not sure whether I over reacted or not, it’s not the only loan with a low score on the platform. I’d be interested to know how much emphasis other investors would put on the risk score versus other aspects of the loan like the perceived quality of any underlying security. Thanks. You must decide if it was an over reaction and trade at your own comfort levels. This information was provided at loan launch with a credit rating of 19 at 24/7/17 (previously 16). The CCJ was not recorded then, so as archie mused, this may have influenced the latest rating. The last submitted accounts show a substantial improvement with 6.2M funds vs a whopping -12M 2015. (I haven't checked but would guess removing an interco loan and buying plant).
2017 accounts would be due 9m after 30/6/17 (with no change in accounting date) ie about now. Edit 1 - accounts extended to 31/12/17 in alignment with parent so due by end Sep 18. Edit 2 - the increase in fixed assets is due to revaluations rather than additions (by removing more depreciation than the downward revisions to cost, perhaps reflecting greater economic life/realsiable value after being recommissioned). Edit 3 - Improvement in co funds is removal of 15M trade & payables after Cxxxxxs took over; there had been a CVA in 12/13 but we should look at how we are implementing phase I/II of CRs new model, not how the old co went wrong.
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elliotn
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Post by elliotn on Mar 18, 2018 6:17:01 GMT
As abl says, we need to distinguish between credit and security values. TC break this out into two variables. It seems abl may derive a combined score system but this should still reduce possible over-reaction from overlooking the overall security suite, particularly in group structures.
Credit updates should be integrated into notifications ticker (and preferably email options to receive as well).
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stevio
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Post by stevio on Mar 18, 2018 8:47:15 GMT
Please can all those selling loans 1000039, 1000049 & 1000078 (D*********** E******) at a discount also sell the loans with the same director (AF) at a tasty discount too? Willing buyers are waiting This does seem a knee jerk - most of the information seems to have been there from the start The LTV is very low (a mix of property and machinery for diversity), a 14% return is great and there are group guarantees backing it up and updates have been encouraging so far and elliotn has analysed the accounts!
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hazellend
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Post by hazellend on Mar 18, 2018 9:04:04 GMT
I sold out yesterday but only because I need money for ISAS/SIPP and ablrate is the only P2P platform with decent liquidity
I will probably get back into this if the opportunity arises!
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nw99
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Post by nw99 on Mar 18, 2018 9:20:02 GMT
Great faith in the assets seized the chance and hoovered it all up at nice discounts
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elliotn
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Post by elliotn on Mar 18, 2018 12:06:52 GMT
Great faith in the assets seized the chance and hoovered it all up at nice discounts The assets are very niche and CR have already bought them at a significant write down to cost.
More important might be the successful implementation of their new model to run them cost effectively, generate new and on-going revenue streams rather than relying on re-sale value.
The parent and personal guarantees in this instance may carry more weight.
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elliotn
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Post by elliotn on Mar 18, 2018 12:10:48 GMT
Please can all those selling loans 1000039, 1000049 & 1000078 (D*********** E******) at a discount also sell the loans with the same director (AF) at a tasty discount too? Willing buyers are waiting This does seem a knee jerk - most of the information seems to have been there from the start The LTV is very low (a mix of property and machinery for diversity), a 14% return is great and there are group guarantees backing it up and updates have been encouraging so far and elliotn has analysed the accounts!
The 31/6/16 accounts show the balance sheet being repiared by the acquisition and the machinery being put back into a useable state, we'll need to see the 30/12/17 accounts to say how they've faired generating new revenues / managing costs (although the borrowing proposal for III provides some update).
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nw99
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Post by nw99 on Mar 18, 2018 13:00:50 GMT
49 just traded up at 100.5 Nice
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ptr120
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Post by ptr120 on Mar 19, 2018 12:46:30 GMT
well done to ablrate for this improvement. However, I'd also appreciate some form of commentary / narrative from the borrower on a regular basis so that I know what progress they are making. I think the water company did this once of twice off their own back but it would be good to see all borrowers doing this.
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elliotn
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Post by elliotn on Mar 19, 2018 14:24:55 GMT
well done to ablrate for this improvement. However, I'd also appreciate some form of commentary / narrative from the borrower on a regular basis so that I know what progress they are making. I think the water company did this once of twice off their own back but it would be good to see all borrowers doing this. Yep, I'd expect abl to be the intermediary - some examples might be has our pub been knocked down, are our cars selling ok, has our airplane been stripped, did our other planes get take off for deliveries etc - stuff creditsafe may not know but would tell us how our investments are progressing. tbf abl have said they have some other monitoring rabbits to pull out the hat, so will be interesting if regular loan book updates to provide some reassurance in the current environment is one of them.
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Post by ablrate on Mar 20, 2018 18:00:00 GMT
We have other stuff in the pipeline to roll out on monitoring. Basically a monthly update sheet that is completed and verified. This is coming very shortly for all loans and will be automatically sent out each month for a borrower to complete. This will be uploaded to the docs section and a note made to the Admin Notes. The request earlier for a notification note to be made against admin notes for when there are new additions makes sense and we are working on that simultaneously.
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elliotn
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Post by elliotn on Mar 21, 2018 5:04:04 GMT
That sounds excellent!
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victors
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Post by victors on May 4, 2018 9:04:31 GMT
This does seem a knee jerk - most of the information seems to have been there from the start The LTV is very low (a mix of property and machinery for diversity), a 14% return is great and there are group guarantees backing it up and updates have been encouraging so far and elliotn has analysed the accounts!
The 31/6/16 accounts show the balance sheet being repiared by the acquisition and the machinery being put back into a useable state, we'll need to see the 30/12/17 accounts to say how they've faired generating new revenues / managing costs (although the borrowing proposal for III provides some update).
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