BUZZ-Australia's Credit Corp set for worst day in 3-1/2 years on potential impairment charges

Reuters2023-10-18

** Shares of Australia's Credit Corp Group Ltd fall as much as 30.1% to A$12.050, set to mark worst day since March 23, 2020, if losses hold

** Stock hits lowest since June 8, marks third consecutive session of losses

** The credit management services firm says it anticipates impairment of the carrying value of its US Purchased Debt Ledger $(PDL.UK)$ assets

** Says impairment will likely be reflected in interim financial statements for period ending 31 December

** Co cuts FY24 statutory net profit after tax forecast to A$35 mln - A$45 mln ($22.27 mln- $28.63 mln) from A$90 mln - A$100 mln

** Stock down 8.4% this year, as of last close

($1 = 1.5718 Australian dollars)

(Reporting by Nausheen Thusoo in Bengaluru)

((Nausheen.Thusoo@thomsonreuters.com;))

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