Ukrainian ARM Firm Credit Collection Group Announces Large Debt Purchase

Ukrainian accounts receivable management firm Credit Collection Group (CCG) announced that it has finished one of the most significant projects in the country’s debt purchasing industry with the purchase of a debt portfolio of 60,000 consumer accounts with a face value of $114.8 million.

After the deal, CCG manages more than $370 million of problem assets.

It took a large time period to realize this huge project: consideration of all points of agreement was carried out during the last three months. The purchase is the greatest deal in the history of the Ukrainian market of factoring operations rendered by a collection company. Furthermore, we must highlight that the parties were not affiliated structures.

Being the new creditor for more than 60,000 debtors, CCG will collect on behalf of itself and on its own accounts. It will provide the company with financial stability regardless of external market factors like, for example, absence of fresh portfolios for commission and low paying ability of clients.

CCG-Credit Collection Group continues its participation in numerous tenders concerning other debt portfolios. The Company has enough financial recourse for further development of its factoring segment and operates with high experience on closing factoring deals, even within 5 days, including portfolio evaluation, scheme working up and full payment transferring.

More than $370 million of debts in management is not a limit for CCG-Credit Collection Group but only the successful start for its future ambitious development on collection market of Ukraine and Commonwealth of Independent States (CIS).