RAMS stocks hit as credit crunch continues

Non-bank lender RAMS remains tangled in the global financial problems with its stock losing 36 per cent yesterday to close at 85.5 cents, after being as low as 55.5 cents earlier in the day. The company has so far been unable to find funding for $6.17 billion of its $14.16 loan portfolio so has used a clause in the debt market to create a 180 day window to find alternate funding. Management have reassured customers that the short-term funding issues in no way affects their ability to operate.

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