MIRA
INFORM REPORT
|
Report Date : |
7th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
ANUROOP
AUTO PRIVATE LIMITED |
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|
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|
Registered Office : |
Plot
No. 9, Spectra Compound, Ramchandra Lane Ext. Kanchpada II, Malad (W), Mumbai
- 400064 Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
08.12.1999 |
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Com. Reg. No.: |
11-122968 |
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CIN No.: [Company
Identification No.] |
U51502MH1999PTC122968 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA14191C |
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|
Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The
company is engaged in manufacture of Auto Parts. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Slow
by average 5 days |
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Litigation : |
Clear |
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Comments : |
Subject
is an established company engaged in as manufacturer of Auto Parts. Spectra
Motor Limited, a sister company is authorised distributors of Maruti
Vehicles. The group is infamous as slow paymasters. Trade relations are
reported as fair. The
company can be considered normal for business dealings at usual trade terms
and conditions with some caution. |
LOCATIONS
|
Registered Office : |
Plot
No. 9, Spectra Compound, Ramchandra Lane Ext. Kanchpada II, Malad (W), Mumbai
- 400064 Maharashtra, India |
|
Tel. No.: |
91-22-28759041 |
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|
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Corporate Office : |
No. 7, Medchal, Behind old Bowenpally Checkpost , Secunderabad, Andhra
Pradesh, India |
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|
Factory
1 : |
1-8-308/5/1
Patigadda Road – 500003, Secunderabad, Andhra Pradesh, India |
|
Tel.
No.: |
91-40-27767321
/ 27901312 / 27902930 / 27902955 / 27905422 / 27905472 |
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DIRECTORS
|
Name : |
Mr.
Satish Kumar Gupta |
|
Designation : |
Director
|
|
Address : |
Plot
No. 9, Spectra Compound, Ramchandra Lane Ext. Kanchpada II, Malad (W), Mumbai
- 400064 Maharashtra, India |
|
Date of Birth/Age : |
19/09/1947 |
|
Date of Casing : |
12/12/2003 |
|
Date of Appointment : |
28/01/2000 |
|
|
|
|
Name : |
Mrs.
Anju Vinodkumar Gupta |
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Designation : |
Director
|
|
Address : |
Ramasarovar,
1st Nadiadwala Colony, Malad West, Mumbai – 400064, Maharashtra |
|
Date of Birth/Age : |
01/01/1952 |
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Date of Appointment : |
13/10/2000 |
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|
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|
Name : |
Mr.
Bharatbhushan Roopa Gupta |
|
Designation : |
Director
|
|
Address : |
Ramasarovar,
1st Nadiadwala Colony, Malad West, Mumbai – 400064, Maharashtra |
|
Date of Birth/Age : |
06/09/1956 |
|
Election Commission Identify Card No. : |
MT/09/044/132136 |
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Date of Appointment : |
13/10/2000 |
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|
|
|
Name : |
Mr.
Vihang Vishnuraj Nayak |
|
Designation : |
Director
|
|
Address : |
301,
Mangal Adesh Apartments, TPS III, 4th Lane, Santacruz East, Mumbai
– 400055, Maharashtra, India |
|
Date of Birth/Age : |
03/04/0944 |
|
Date of Casing : |
12/12/2003 |
|
Date of Appointment : |
08/12/1999 |
|
|
|
|
Name : |
Mr.
Prakash Shiv Roongta |
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Designation : |
Director
|
|
Address : |
21,
Dolly Apartments, 4th Floor, Malad West, Mumbai – 400064,
Maharashtra, India |
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Date of Birth/Age : |
15/07/1960 |
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Date of Casing : |
12/12/2003 |
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Date of Appointment : |
08/12/1999 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr.
Vihang Vishnuraj Nayak |
|
100 |
|
Mr.
Prakash Shiv Roongta |
|
100 |
|
Mrs.
Anju Vinodkumar Gupta |
|
236800 |
|
Mr.
Bharatbhushan Roopa Gupta |
|
227600 |
|
Mr.
Satish Kumar Gupta |
|
11000 |
|
Neena
Satishlumar Gupta |
|
4500 |
|
Mr.
Prakash Satishlumar Gupta |
|
7000 |
|
Simran
Bharatbhushan |
|
8000 |
|
Roshanlal
Gupta and Sons Private Limited |
|
99900 |
|
Satishkumar
Gupta (HUF) |
|
85000 |
|
Fedder
Tie Up Private Limited |
|
36000 |
|
Dharavi
Management Services Private Limited |
|
40000 |
|
Bhanu
Finvest Limited |
|
40000 |
|
Jajoo
Finance and Investment Limited |
|
64000 |
|
|
|
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BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in manufacturer of Auto Parts. |
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Products : |
Vehicles
/ Parts |
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GENERAL
INFORMATION
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No. of Employees : |
150 |
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Bankers : |
Union
Bank of India Oshiwara
Branch, Saraf – Kaskar Industrial Estate, Corner of S. V. Road, Oshiwara
Road, Jogeshwari (W), Mumbai - 400102 |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
Sodha
Chandak and Associates Chartered
Accountants 101,
“Ashiana” Plot No. 23, A, 2nd
Road, T. P. S. III, Opp. B. M. C. Hospital, Santacurz East, Mumbai – 400055,
Maharashtra, India |
|
Tel. No.: |
91-22-26102465
/ 6116901 |
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Fax No.: |
91-22-26101228 |
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|
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Associates/Subsidiaries : |
v
Roshanlal
Gupta and Sons Limited v
Spectra
Industries Limited v
Spectra
Motors Limited v
Vasai
Roller Flour Mills Private Limited v
Maruti
Roller Flour Mills private Limited v
Spectra
Automobiles v
Simmi
Enterprises v
Spectra
Auto v
Satish
Traders |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
950000 |
Equity
Shares |
Rs. 10/- each |
Rs. 9.500 millions |
|
50000 |
Unclassified
Shares |
Rs. 10/- each |
Rs. 0.500 millions |
|
|
Total
|
|
Rs. 10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
680000 |
Equity
Shares |
Rs. 10/- each |
Rs. 6.800 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
6.800 |
6.800 |
|
|
2] Share Application Money |
|
1.410 |
1.410 |
|
|
3] Reserves & Surplus |
|
8.873 |
7.131 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
17.083 |
15.341 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
13.466 |
27.050 |
|
|
2] Unsecured Loans |
|
19.181 |
18.619 |
|
|
TOTAL BORROWING |
|
32.647 |
45.669 |
|
|
DEFERRED TAX LIABILITIES |
|
0.378 |
0.360 |
|
|
|
|
|
|
|
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TOTAL |
|
50.108 |
61.370 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
|
11.330 |
12.580 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.559 |
0.559 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
19.886 |
55.513 |
|
|
Sundry Debtors |
|
14.135 |
14.795 |
|
|
Cash & Bank Balances |
|
8.870 |
10.715 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
11.908 |
11.846 |
|
Total Current Assets |
|
54.799 |
92.869 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
14.230 |
43.163 |
|
|
Provisions |
|
2.350 |
1.475 |
|
Total Current Liabilities |
|
16.580 |
44.638 |
|
|
Net Current Assets |
|
38.219 |
48.231 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
50.108 |
61.370 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
315.724 |
520.040 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
2.633 |
2.260 |
|
Provision
for Taxation |
|
0.891 |
0.797 |
|
Profit/(Loss)
After Tax |
|
1.742 |
1.463 |
|
|
|
|
|
|
Total
Expenditure |
|
313.090 |
517.780 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
0.55 |
0.28 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
0.83 |
0.43 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
3.98 |
2.14 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.15 |
0.15 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
4.15 |
5.89 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
3.31 |
2.08 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed
Assets :
v
Computer
and Printers
v
Electrical
Installation
v
Furniture
and Fixture
v
Office
Equipments
v
Plant
and Machinery
v
Vehicles
v
Building
Activity :
During
the year under the company has achieved a turnover of Rs. 294.437 millions as
against Rs. 463.359 millions during the previous year and has earned Net Profit
of Rs. 1.742 millions as against Net Profit of Rs. 1.463 millions during the
previous year.
|
Name of the company |
ANUROOP AUTO PRIVATE LIMITED |
|
Presented By |
Union
Bank of India, Oshiwara Branch, Mumbai |
|
1) Date and description of instrument creating the change |
Hypothecation of agreement of Goods, Debts and Assets Dated : 20th June, 2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 40.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Vehicles and spares lying at . Anuroop Auto Private Limited, 55, Ramlal Compound S. V. Road Goregaon W, Mumbai – 400062 Anuroop Auto Private Limited, Plot No. 8, Opp. IBP Petrol Pump Begum Peth Road, Secunderabad – 500003 And any other showroom or Godown Hypothecation of all the company’s Book dents both present and future. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 5 % p.a. above the PLR subject to a minimum rate of 16.5 % for the L Gtee Limited of Rs. 40.000 millions granted by the Bank of the company. |
|
5) Name and Address and description of the person entitled to the charge. |
Union
Bank of India Oshiwara
Branch, Saraf – Kaskar Industrial Estate, Corner of S. V. Road, Oshiwara
Road, Jogeshwari (W), Mumbai - 400102 |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
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|
|
|
Name of the company |
ANUROOP AUTO PRIVATE LIMITED |
|
Presented By |
Union
Bank of India, Oshiwara Branch, Mumbai |
|
1) Date and description of instrument creating the change |
Hypothecation of agreement of Goods, Debts and Assets Dated : 20th June, 2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 7.500 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Vehicles and spares lying at . Anuroop Auto Private Limited, 55, Ramlal Compound S. V. Road Goregaon W, Mumbai – 400062 Anuroop Auto Private Limited, Plot No. 8, Opp. IBP Petrol Pump Begum Peth Road, Secunderabad – 500003 And any other showroom or Godown Hypothecation of all the company’s Book dents both present and future. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 4 % p.a. above the PLR subject to a minimum rate of 15.5 % for the L Gtee Limited of Rs. 7.500 millions granted by the Bank of the company. |
|
5) Name and Address and description of the person entitled to the charge. |
Union
Bank of India Oshiwara
Branch, Saraf – Kaskar Industrial Estate, Corner of S. V. Road, Oshiwara
Road, Jogeshwari (W), Mumbai - 400102 |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
|
|
|
Name of the company |
ANUROOP AUTO PRIVATE LIMITED |
|
Presented By |
Union
Bank of India, Oshiwara Branch, Mumbai |
|
1) Date and description of instrument creating the change |
Hypothecation of agreement of Goods, Debts and Assets Dated : 20th June, 2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 40.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Vehicles and spares lying at . Anuroop Auto Private Limited, 55, Ramlal Compound S. V. Road Goregaon W, Mumbai – 400062 Anuroop Auto Private Limited, Plot No. 8, Opp. IBP Petrol Pump Begum Peth Road, Secunderabad – 500003 And any other showroom or Godown Hypothecation of all the company’s Book dents both present and future. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 5 % p.a. above the PLR subject to a minimum rate of 16.5 % for the L Gtee Limited of Rs. 40.000 millions granted by the Bank of the company. |
|
|
|
|
Name of the company |
ANUROOP AUTO PRIVATE LIMITED |
|
Presented By |
Fiat
Auto Finance Limited, No. 21, Patulles Road, Chennai - 600002 |
|
1) Date and description of instrument creating the change |
Hire Purchase agreement dated 22/03/2001 H P Cont No.GA – 6112 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.681 Millions inclusive of finance charges of Rs. 0.135 millions the finance charges @ 8.30 % flat p.a. |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
On the security of 1 No. 2000 Model, First since Car hearing E. No. AP – 09-Aj-219 as mentioned in the 1st schedule of the enclosed copy of the Mira Purchase Agreement |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The total amount of Rs. 0.681 millions is repayable in 36 monthly instalments as follows : the 1st instalment of Rs. 0.019 millions and the rest of the 35 monthly instalments of Rs. 0.019 millions each . the finance charges @ 8.30 % flat Perineum .The 1st hiremoney falls due on 22.03.2001 |
|
5) Name and Address and description of the person entitled to the charge. |
Fiat Auto Finance Limited, No. 21, Patulles Road, Chennai
- 600002 |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
|
|
|
Name of the company |
ANUROOP AUTO PRIVATE LIMITED |
|
Presented By |
Union
Bank of India, Oshiwara Branch, Mumbai |
|
1) Date and description of instrument creating the change |
Hypothecation of agreement of Goods, Debts and Assets Dated : 20th June, 2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 40.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Vehicles and spares lying at . Anuroop Auto Private Limited, 55, Ramlal Compound S. V. Road Goregaon W, Mumbai – 400062 Anuroop Auto Private Limited, Plot No. 8, Opp. IBP Petrol Pump Begum Peth Road, Secunderabad – 500003 And any other showroom or Godown Hypothecation of all the company’s Book dents both present and future. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 5 % p.a. above the PLR subject to a minimum rate of 16.5 % for the L Gtee Limited of Rs. 40.000 millions granted by the Bank of the company. |
|
5) Name and Address and description of the person entitled to the charge. |
Union
Bank of India Oshiwara
Branch, Saraf – Kaskar Industrial Estate, Corner of S. V. Road, Oshiwara
Road, Jogeshwari (W), Mumbai - 400102 |
|
6) Date and brief description of instrument modifying the charge |
The original charges |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The original charges dated 20th June 2000 for Rs. 40.000 millions has been modified from time to time as under : On 25th June 2002 an additional sum of Rs. 10.000 millions was granted by the Bank, thereby enhancing the L. Gtee limit from Rs. 40.000 millions to Rs. 50.000 millions against hypothecation of Stocks of vehicles an spares lying at (1) 55, Ramlal Compound S. V. Road, Goregaon W, Mumbai – 400062 (2) Anuroop Auto Private Limited, Plot No. 8, Opp. IBP Petrol Pump, Begum Peth Road, Secunderabad – 500003 and any other showroom or Godown . Vide this modification the additional L. Gtee limit of Rs. 10.000 millions granted by the Bank on 25th June, 2002 has now been additional secured against hypothecation of all the Borrowers present and future Book – Debts, outstanding monies, deposits, receivable claims, bills, contract securities, investments, rights and assets. Interest at the rate of 15.75 % p.a. with monthly rests or at such other revised rate as may be prescribed by the Bank from time to time. Thus the total limit of Rs. 50.000 millions is secured of vehicles and spares and Book dents as detailed above. |
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered against
subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a company’s
management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 45.92 |
|
UK
Pound |
1 |
Rs. 84.62 |
|
Euro |
1 |
Rs. 58.03 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong) capability
for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |