[Jess]

Not so sure about the defaults being the main issue here. They were touting middle single-digit default rates up until a short while ago.

Perhaps the fresh sets of eyes revealed some issues that needed to be addressed along with credit facility unsteadiness in the current climate and integration of their technology assets. I still doubt that pricing of the risk was the main issue. But you never know.

Probably, new CFOs typically encounter a lot buried bodies.