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Cash Store Financial Services Inc CSFS



NYSE:CSFS - Post by User

Post by insightfultruthon Jan 08, 2014 9:33am
876 Views
Post# 22068923

LOC Product

LOC ProductDid anyone catch that just before the holidays Ontario amended their Payday Act to include this product? This means that without a payday license Cash Store cannot offer it either in their stores beginning in February. Moodys immediately lowered their rating of CSF as a result. There was comments made by their CFO that they would get their licensing back. Does anyone have any insight on this? Do not see how that is possible given how they have tried to skate around Ontario regulations to date (their usual approach to regulatory obstacles). Bonds are also trading at distressed levels. How long will they be able to keep doors open?
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