MIRA
INFORM REPORT
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Report Date : |
7th
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
PEACE NIG. DRUG CO LTD. |
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Registered Office : |
122, Agege Motor Road Mushin. |
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Country : |
Nigeria |
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Date of Incorporation : |
7th January, 1986 |
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Com. Reg. No.: |
79292 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Undetermined
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Payment Behaviour : |
Unknown
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Litigation : |
Unknown
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Name
Peace Nig. Drug Co Ltd.
Office Address
58, Obun-Iko Street Idumota – Lagos.
REGISTERED ADDRESS
122, Agege Motor Road Mushin.
Share capital
100,000
Registration Numbers
79292
Date Registered
7th January, 1986.
Directors
Patrick Okeke
Christian Envogwu
Pauline Okeke
Comments
Subject shares are not allotted.
ADDRESS VISITED OBSERVATION
58 Obun Iko Street, Idunota Lagos This is a three storey building situated in the commercial nerve center of Lagos. Our investigation revealed that subject does not have an office in the building.
122, Agege Motor Road, Lagos: This is a two storey building painted in yellow colour. Our investigation revealed that subject does not have an office in the building.
CONCLUSION AND RECOMMENDATION
Subject was registered with corporate affairs commission (CAC). But it was not a going concern business in Nigeria. We advised that caution must be taken in dealing with the subject.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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