MIRA INFORM REPORT
|
Report Date : |
6th May, 2006. |
IDENTIFICATION DETAILS
|
Name : |
CHAROEN POKPHAND INDIA
PRIVATE LIMITED |
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Registered Office : |
47/D3, Gandhi Mandapam
Road, Kottupuram, Chennai – 600 085, Tamilnadu, India. |
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Country : |
India |
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Financials (as on) : |
31.03.2000 |
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Date of Incorporation : |
16/06/1997 |
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Com. Reg. No.: |
18-
8419 |
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CIN No.: |
U01211TN1997PTC038419 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
CHEC02267G |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer,
Importer and Exporter of live poultry and poultry feed. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of large
Thai Group. The group has ambitious
plans to invest in India. Trade
relations are fair. Payments are
correct and as per commitments. Profit
margin is under tremendous pressure. The company can be
considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
47/D3, Gandhi Mandapam Road,
Kottupuram, Chennai – 600 085, Tamilnadu, India. |
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Tel. No.: |
91-44-24470790 / 24470897 |
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Fax No.: |
91-44-24472880 |
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E-Mail : |
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Head Office : |
Flat
No. 1, Riya Apartments, 38/39, Nrupatunga Road, Behind Petrol Bunk, Virgonar
Post, Bhattarahalli, Bangalore – 560 049 |
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Factory : |
130,
Devanahalli Cross, Bommenahalli Village, Bidarahalli, Hobli Post |
DIRECTORS
|
Name : |
Dr.
Chingchai Lohanwatnakul |
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Designation : |
Director |
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Address : |
313
C P Tower, Silom Road, Bangkok, Thailand |
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Date of Birth/Age : |
29-01-1939 |
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|
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Name : |
Mr.
Prasert Poongkumarn |
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Designation : |
Director |
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Address : |
313
C P Tower, Silom Road, Bangkok, Thailand |
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|
|
|
Name : |
Mr.
Thong Chotriat |
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Designation : |
Director |
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Address : |
313
C P Tower, Silom Road, Bangkok, Thailand |
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Date of Birth/Age : |
21-10-1951 |
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Name : |
Mrs.
Benjaport Sunghitakul |
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Designation : |
Director |
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Address : |
Virgo
Nagar, Bangalore – 560 046, Karnataka |
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Date of Birth/Age : |
13-02-1951 / 29-01-1939 |
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|
Name : |
Mr.
Attapol T Boonsith |
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Designation : |
Director |
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Address : |
47/D3
Gandhi Mandapam Road, Chennai – 600 085, Tamilnadu |
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Date of Birth/Age : |
29-05-1959
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|
|
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|
Name : |
Mr.
Chain Nuphet |
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Designation : |
Director |
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Address : |
First
Street, Kotturpuram, Chennai – 600085, Tamilnadu |
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Date of Birth/Age : |
05-11-1957 |
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|
|
|
Name: |
Mr.
Taweesak Sereepiyakul |
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Designation : |
Genaral
Manager, Production |
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Tel. No.: |
91-80-8472428 |
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Fax No.: |
91-80-8472662 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Foreign Holding |
- |
99.99
% |
|
Directors and relatives |
- |
0.01
% |
|
Charoen Pokphand Engg Company Limited |
1352800 |
- |
|
Charoen Pokphand Industry
Company Limited |
4193058 |
- |
|
Charoen Pokhand Group
Company Limited |
5511259 |
- |
|
Attapol T Boonsith |
1
Share |
- |
|
Chain Nuphet |
1
Share |
- |
|
C P Intertrade Company
Limited |
1351244 |
- |
|
Aquaculture Promotion
Company Limited |
9660371 |
- |
|
Total |
220668734 |
100% |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Importer and Exporter of live poultry and poultry feed. |
|
|
|
|
Products : |
Chicken
feed, Live Poultry |
PRODUCTION STATUS
|
Particulars |
Installed Capacity |
Actual Production |
|
Chicken feed in Metric
Tonnes |
72000000 |
2001-44304700 2002-46650925 |
|
Live Poultry in Nos |
NA |
2001- 6747791 2002-4724660 |
GENERAL INFORMATION
|
No. of Employees : |
150 |
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Bankers : |
Bank of America Chennai,
Tamilnadu |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory |
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Auditors : |
Kurien and Company,
Chennai, Tamilnadu |
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Quqalification: |
Chartered Accountants |
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Associates/Subsidiaries
: |
·
Charoen Pokphand
Engineering Company Limited ·
Charoen Pokphand Industry
Company Limited ·
Charoen Pokphand Group
Company Limited ·
C P Intertrade Company Limited ·
Aquaculture Promotion
Company Limited |
|
Address: |
47/ D3 Gandhi Mandapam
Road, Kotturpuram , Chennai – 600 085, Tamilnadu |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
33000000 |
Equity
Share |
Rs. 10/- each |
Rs. 330.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22068734 |
Equity
Share |
Rs. 10/- each |
Rs. 220.687 Millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2002 |
31.03.2001 |
31.03.2000 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
220.687 |
220.687 |
220.687 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(117.800) |
(117.973) |
(68.096) |
|
NETWORTH
|
102.887 |
102.714 |
152.591 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
29.308 |
10.914 |
-- |
|
|
2] Unsecured Loans |
64.000 |
70.000 |
50.000 |
|
TOTAL
BORROWING
|
93.308 |
80.914 |
50.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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TOTAL
|
196.195 |
183.628 |
202.591 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
121.510 |
114.956 |
104.792 |
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Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
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INVESTMENT
|
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
|
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Inventories
|
93.096 |
74.801 |
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Sundry Debtors
|
11.268 |
16.925 |
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Cash & Bank Balances
|
26.019 |
17.213 |
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Other Current Assets
|
0.000 |
0.000 |
174.546 |
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Loans & Advances
|
21.520 |
17.131 |
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Total Current Assets
|
151.903
|
126.070 |
174.546 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
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|
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Current Liabilities
|
79.809 |
60.508 |
80.375 |
|
|
Provisions
|
0.000
|
0.000 |
0.000 |
Total Current Liabilities
|
79.809
|
60.508 |
80.375 |
|
Net Current
Assets
|
72.094
|
65.562 |
94.171 |
|
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MISCELLANEOUS EXPENSES
|
2.591 |
3.110 |
3.628 |
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|
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|
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TOTAL
|
196.195 |
183.628 |
202.591 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2002 |
31.03.2001 |
Sales Turnover [including other income]
|
|
577.319 |
549.517 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
0.172 |
(49.877) |
Provision for Taxation
|
|
0.000 |
0.000 |
Profit/(Loss) After Tax
|
|
0.172 |
(49.877) |
|
|
|
|
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Export Value
|
|
0.000 |
0.000 |
|
|
|
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Import Value
|
|
34.773 |
13.696 |
|
|
|
|
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Total Expenditure
|
|
577.147 |
599.395 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2002 |
31.03.2001 |
PAT / Total Income
|
(%)
|
|
0.03 |
(9.08) |
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|
Net Profit Margin
(PBT/Sales) |
(%) |
|
0.03 |
(9.08) |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
|
0.06 |
(20.69) |
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Return on Investment (ROI)
(PBT/Networth) |
|
|
0.01 |
(0.48) |
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Debt Equity Ratio
(Total Liability/Networth) |
|
|
1.68 |
1.38 |
|
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|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
|
1.90 |
2.08 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
Company has shifted its office
from “3051, 80 FIT Road, HAL II Stage, India Nagar, Bangalore, Karnataka”
Tel. No. 91-80-5275642
Fax No. 91-80-5275644
BUSINESS:
Subject imports raw materials
for their poultry farm and machinery for their farm.
Generic Names of Principal
Products/ Services are-
Products Item
Code No.
·
Live Poultry 01059200
·
Poultry Feed 23099000
Since its foundation, less
than 80 years ago, the Charoen Pokphand Group
ha s demonstrated the acumen
and entrepreneurial spirit that characterizes all of the world’s great business
and industrial empires. Seizing
opportunities where they found them, developing the necessary management and
technological skills, and always planning for a better future. CP has “ growth with Asia”. This Thai anchored business group with 250
companies in 20 countries. 100 000
people is employed. Group acts as
diversified international agro-industrial conglomerate based in Thailand and
established in 1921. Its annual
turnover is US$ 13 billion.
C P Group selected two areas
namely, Aquaculture and poultry
industry for making its investment in India.
The group has promoted two
companies namely, C P Aquaculture (India) Private Limited and the Charoen
Pokphand (India) Private Limited. Group
invested a sum of Rs. 321.200 millions in India and planning to invest further
sum of Rs. 1500.000 millions in the years to come.
104, G N T Road, Nallur &
Vijaynallur Village Sholavaram Post, Red Hills, Chennai – 600 067, Tamilnadu
Tel. No. 91-44-26419467 / 68
/ 69
Fax No. 91-44-26419466
Email – 1) webmaster
@mycpindia.com
3) support
@mycpindia.com
The group of Thailand is an
internationally renowned group, which has been existence for more than 70
years. Headquartered in Bangkok, C P
Group has a wide and diverse range of business including aquaculture,
petroleum, real estate and property development and telecommunication. Group has business operation throughout the
world including Thailand, China, Japan, U.S.A., India, Singapore and
Bangaladesh. Group has got more than 250 individual companies whose turnover is
Rs. 320000 millions per annum. Group
has been successful in all its business activities and has attained the status
of being the world leaders in Agro based industry.
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.44.88 |
|
UK
Pound |
1 |
Rs.83.07 |
|
Euro |
1 |
Rs.56.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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
|
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 |