Because of the recent ruby/rails security scares I wanted to move our private github repository to a more secure location that is only accessible by our small team via ssh keys on an unknown port. It's worth remembering that private repos on github are not encrypted, and so are only as safe as the ruby/network layer that wraps it. To be fair, private repos were never advertised as secure storage, despite being used that way.
This is a huge 'if', but /if/ github is compromised not only will your sourcecode stand a high chance of being exposed (commercial damage, elevated risk of XSS & SQL injection), but your web applications may also be vulnerable to session spoofing in addition to possibly granting access via API keys and passwords to the usual range of external APIs, probably including commercial ones. We all code in a secure way, but who wants to have that tested in public?
It is trivially easy to mitigate this risk