MIRA
INFORM REPORT
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Report Date : |
9th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
SWEBOLT
JARFALLA AB |
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Registered Office : |
Skarprättarvägen
5 B, 176 77 Järfälla |
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Country : |
Sweden |
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Financials (as on) : |
2005 |
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Date of Incorporation : |
1993 |
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Com. Reg. No.: |
556464-4861 |
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Legal Form : |
Limited company, private |
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Line of Business : |
Wholesale of machinery for industry,
trade and navigation n e c |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
Swebolt Järfälla AB
Box 2029
176 02 Järfälla
Visiting address : Skarprättarvägen 5 B
Tel. : +46-8-583 581 20
Comp. No : 556464-4861
Credit rating. : 3 Net sales.......(05) : 51.685 TSEK
Risk forecast. : 1,51% Res aft. fin.net(05) : 1.431 TSEK
Credit limit.. : 2.000 TSEK Equity..........(05) : 2.015 TSEK
Pmt complaints : Not reg Employees........... : 19 pcs
Claims. : Not reg
Registered.... : 1993-04
Part of Christer Pedersen AB-group
MOST RECENT EVENTS
- No events have been registered during the last 12 months.
CREDIT OPINION
- Credit rating.......: 3 (1 indicates the highest and 5 the lowest risk)
The classification is based on UC Risk forecast.
Risk forecast......: 1,51%
The forecast states the probability that the company will become insolvent within 12 months.
- Explanation of company's Credit Rating and Risk Forecast
Area Influence
Closing Accounts and Key Ratios Increases risk
Payment complaints and other deficiencies Neutral
Board of directors Neutral
Other information Neutral
The strengths and weaknesses are based on the average risk for similar companies.
- Historical Credit Ratings
Date Cr. rating Riskf.cast Reason
2006-10-27 3 1,30% ISN started reporting historical credit ratings
Industry Risk Forecast: 0,4%
Median value for limited company regarding industry 51879, such as Wholesale of machinery for industry, trade and navigation n e c.
Other info may of course affect your assessment of the risk.
- Credit limit........: 2.000 TSEK
Applies to short-term credit facilities. The limit has been set using a formula that takes into consideration the annual accounts included in this credit report and the current credit rating. Other information may of course influence the size of the credit you may grant.
GENERAL INFORMATION AND HISTORY
Legal form......... : Limited company, private
Vat-no............. : SE 556464486101
Registered office.. : Järfälla municipality in Stockholms county
No of locations.... : 1
Main establishment
------------------
- Designation : Head office
- Visiting address : Skarprättarvägen 5 B, 176 77 Järfälla
Description of business activities
----------------------------------
- Wholesale of machinery for industry, trade and navigation n e c
(Main business acc to SCB, SNI2002:51879)
History
-------
- 93-04 Company reg under the current reg no and name
- 93-07-05 Company registered to pay business tax
- - - - Company was registered to pay VAT
- - - - Company was registered to pay employer contributions
- 95-03-27 Carl Christer Pedersen new Managing Director
- 01-11 Articles of Association adopted
Matters pending with Reg. Office
--------------------------------
No notes of imminent changes
Non categorized information
---------------------------
- The company has the following SE domain(s) and possibly a home page: www.swebolt.se
- Customs have granted the company to bring home goods/credit permit
BOARD OF DIRECTORS ETC
Board members according to Reg Office
-------------------------------------
Board members etc reg prior to 91-04 unless otherwise stated.
-------------------------------------------------------------
- Carl Christer Pedersen............... MD and Regular member
(Birth: 1946) Reg. in company 95-03-27
- Thorbjörn Forsberg (Birth: 1946)..... Regular member
Reg. in company 93-04-30
- Stefan Blomqvist (Birth: 1969)....... Regular member
Reg. in company 93-04-30
- Tomas Andreas Träskböle.............. Regular member
(Birth: 1977) Reg. in company 05-03-04
- Marianne Ingegärd Pedersen........... Deputy member
(Birth: 1947) Reg. in company 93-04-30
- Erik Ola Spinnars.................... Authorized public Accountant
Reg. in company 94-03-18
- Ulf Johansson........................ Deputy auditor
Reg. in company 03-01-29
Board of directors data
-----------------------
- No of board members (ord members and MD) 4
- Any board member with comm in other comp? Yes
- Any board member with comm in bankrupt comp? No
- Any board member with payment complaint? No
- Any board member with bankruptcy petition? No
- Any brd member with bal of dept with Enf Auth? No
Authorized signatory (available in Swedish on
------------------------------------------------
Firman tecknas av styrelsen
firman tecknas var för sig av
-Blomqvist, Ralf Stefan
-Pedersen, Carl Christer
-Pedersen, Marianne Ingegärd
-Träskböle, Tomas Andreas
GROUP RELATIONSHIP ETC
Parent comp./Legal Shareholder Own.- As of Comments
------------------------------ share
- Christer Pedersen AB........ 55 % 05-12 Cr. rating 5
(556652-3360)
Subsidiary,*sub-subsidiary etc
------------------------------
- Oy Botnia Bolt AB (Finland). 93 % 05-12
Related companies
-----------------
- Christer Pedersen Teknik
AB (556340-7195).............................. Name change 92-02 from:
Mgl Konsult AB
Former subsidiaries etc
-----------------------
- Oy Botnia Bolt AB (Finland). 93 % Former subsidiary
Sold during 04
ANNUAL ACCOUNTS AND RATIOS
Inc. Statem. TSEK
----------------- 0501-0512 0401-0412
0301-0312 0109-0212 0009-0108
Net sales +51.685 +41.413
+37.666 +48.776 +36.773
P/l after fin itm.....+1.431.....+1.216.......+620.......+662.......+819
Balance TSEK
------------ 0501-0512 0401-0412
0301-0312 0109-0212 0009-0108
Tot fixed ass .........3.280......3.810......2.826........499........892
Tot curr assets ......34.073.....27.231.....25.142.....23.753.....22.396
Total equity ..........2.015......1.271......4.720......4.116......3.620
Tot long-t liab ......23.053.....19.268.....15.251.....12.424.....11.975
Tot current liab .....10.766......9.338......6.931......6.431......6.342
Tot equity &
liab.....37.353.....31.041.....27.967.....24.252.....23.288
Notes and
audit rpt
--------- 0501-0512 0401-0412
0301-0312 0109-0212 0009-0108
No of employees 19 19 18 18 18
Audit report Unqualif Unqualif
Unqualif Unqualif Unqualif
Ratios 0501 0401 0301 0109 00091)industry-
------ -0512 -0412
-0312 -0212 -0108
value 05
Equity/assets % 8,2
6,7 19,5 20,7
19,6 32,8
Quick ratio % 139,0
110,9 146,0 161,1
125,4 108,9
Return on ass. % 7,0 7,7
6,1 6,2 7,2
8,7
Cash fl/t.liab % 4,8 5,0
4,1 3,5 5,5
13,4
Risk margin % 3,5
3,6 1,3 1,0
2,6 7,1
Consol. ratio % 9,5
7,8 20,7 22,3
21,3 35,3
1) Median of companies with 5-19 employees in an industry 51879 such as
Wholesale of machinery for industry, trade and navigation n e c
Analysis of the annual accounts (three years)
---------------------------------------------
Consolidation
The consolidation rate is very low and decreasing.
Note: the forecast for the company's insolvency is normal.
For the complete annual accounts and all ratios, see enclosure 1.
CONSOLIDATED ANNUAL ACCOUNTS AND
RATIOS
Inc. Statem. TSEK
----------------- 0501-0512 0401-0412
0301-0312
Net sales +69.645 +62.876
+55.477
P/l after fin itm.....+2.310.....+2.589.....+1.736
Balance TSEK
------------ 0501-0512 0401-0412
0301-0312
Tot fixed ass
........13.303.....10.175.....11.011
Tot curr assets ......43.751.....37.581.....34.881
Total equity
..........5.891......4.070......6.463
Tot long-t liab
......32.914.....26.173.....25.650
Tot current liab .....16.655.....15.865.....12.090
Tot equity & liab.....57.053.....47.758.....45.892
Notes and
audit rpt
--------- 0501-0512 0401-0412
0301-0312
No of employees 45 19 39
Audit report Unqualif Unqualif
Unqualif
Ratios 0501 0401
0301
------ -0512 -0412
-0312
Equity/assets % 10,3
8,5 14,1
Quick ratio % 56,1
49,9 62,8
Return on ass. % 7,4 9,3 7,2
Cash fl/t.liab % 6,8 8,3
6,8
Risk margin % 3,6
5,0 3,2
Consol. ratio % 10,3
8,5 14,1
For compl. annual accounts and all ratios for the group, see enclosure 2.
OTHER FINANCIAL INFORMATION
Share capital
-------------
- Total: 400 TSEK
- The most recently registered changes in the share capital
Amount
95-09 Bonus issue 200 TSEK
95-02 New issue 150 TSEK
Chattel mortgages
-----------------
- Total: 12.300,0 TSEK
- The most recently issued mortgages
Amount
99-01 200,0 TSEK
98-12 400,0 TSEK
98-05 275,0 TSEK
97-07 1.000,0 TSEK
97-07 75,0 TSEK
Unprivileged claims in clients' bankruptcies
--------------------------------------------
- In last 2 yr. 2 claims reg of tot 40,6 TSEK.
- Claims in bankruptcy against clients registered in 6 month period
Period Number Amount
0606-0611 0 0,0 TSEK
0512-0605 0 0,0 TSEK
0506-0511 1 23,7 TSEK
0412-0505 1 16,8 TSEK
- The most recent claims in bankruptcy against clients
Amount Debtor
05-08 23,7 TSEK Stonemarx AB
05-04 16,8 TSEK Onm Safe Production AB
Properties
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- The company is not reg as property owner according to our.
9 PAYMENT COMPLAINTS, COMPLAINTS AND OTHER
PAYMENT INFORMATION
- No complaints have been registered.
- Debt with the Enforcement Serv, no debt was recorded on 2006-11-03.
MOST RECENT INQUIRIES
- During the last 12 months there have been 11 inquiries.
- Up to 10 most recently registered inquiries
Date Amount
06-11-08
06-10-17 125.606
06-10-04
06-07-06
06-05-26
06-05-23
06-05-04
06-03-22
06-02-07
06-02-06
ENCLOSURES
No. Type of enclosure, name etc
1 Annual accounts/ratios
2 Consolid. annual accounts/ratios
ANNUAL ACCOUNTS AND RATIOS
Inc. Statem. TSEK
----------------- 0501-0512 0401-0412
0301-0312 0109-0212 0009-0108
Net sales +51.685 +41.413
+37.666 +48.776 +36.773
Goods for resale -35.537 -26.421
-24.574 -32.768 -26.645
Other ext costs -6.103 -5.815 -4.972 -6.069 -3.820
Personnel costs -7.028 -6.308 -5.972 -7.062 -4.256
Depreciation -523 -549 -513 -457 -405
Other op expenses 0 0 0 -480 0
Operating P/l ........+2.495.....+2.321.....+1.636.....+1.939.....+1.647
Ext interest inc +127 +68 +61 +63 +22
Total fin income +127 +68 +61 +63 +22
Ext interest exp -1.191 -1.173 -1.076 -1.281 -850
Other fin exp 0 0 0 -59 0
Tot fin exp -1.191 -1.173 -1.076 -1.340 -850
P/l after fin itm.....+1.431.....+1.216.......+620.......+662.......+819
P/l bef approp .......+1.431.....+1.216.......+620.......+662.......+819
Appropriations -355 -98 +216 +69 -114
P/l bef tax ..........+1.076.....+1.118.......+836.......+731.......+705
Tax -332 -327 -232 -236 -210
Net p/l for year .......+744.......+791.......+605.......+495.......+494
Balance TSEK
------------ 0501-0512 0401-0412
0301-0312 0109-0212 0009-0108
Tot int ass 0 0 0 0 0
Machinery 1.098 1.246 1.395 0 0
Equipment 832 864 931 499 833
Tot mach & equip
1.930 2.110
2.326 499 833
Tot tan ass 1.930 2.110 2.326 499 833
Par in grp/asso 500 500 500 0 59
Rec f grp/asso 850 1.200 0 0 0
Tot fin ass 1.350 1.700 500 0 59
Tot fixed ass .........3.280......3.810......2.826........499........892
Other invent 19.111 16.875 15.026 13.392 14.444
Tot inventories 19.111 16.875 15.026 13.392 14.444
Accs receivable 6.182 4.945 4.329 10.251 7.898
Rec f grp/ass cos 8.620 5.015 5.623 0 0
Other curr rec 160 127 162 105 48
Tot curr rec 14.962 10.087 10.114 10.356 7.946
Tot cash & bank
0 269 2 5 6
Tot curr assets ......34.073.....27.231.....25.142.....23.753.....22.396
Total assets .........37.353.....31.041.....27.967.....24.252.....23.288
Balance TSEK
------------ 0501-0512 0401-0412
0301-0312 0109-0212 0009-0108
Share capital 400 400 400 400 400
Other restr cap 80 80 80 80 80
P/l brought forw 791 0 3.635 3.141 2.646
Net p/l for year 744 791 605 495 494
Total equity ..........2.015......1.271......4.720......4.116......3.620
Tot untax res .........1.519......1.164......1.066......1.282......1.351
Liab to cred inst 15.040 11.505 11.728 9.601 10.423
Bnk overdr util 4.174 615 2.893 1.171 1.701
Liabl to group co 5.090 4.540 0 0 1.552
Oth long-t liab 2.923 3.223 3.523 2.823 0
Tot long-t liab ......23.053.....19.268.....15.251.....12.424.....11.975
Liab to cred inst 1.460 1.795 895 581 524
Accs payable 7.690 5.619 4.700 4.700 4.641
Liab t grp/ass co 36 311 0 0 0
Other current lia 1.580 1.613 1.336 1.150 1.177
Tot current liab .....10.766......9.338......6.931......6.431......6.342
Tot equity &
liab.....37.353.....31.041.....27.967.....24.252.....23.288
Notes etc TSEK
-------------- 0501-0512 0401-0412
0301-0312 0109-0212 0009-0108
No of employees 19 19 18 18 18
Salaries board/MD 652 475 620 771 496
Wgs/sal to others 4.289 3.913 3.582 4.351 2.493
Total wages/sal 4.941 4.388 4.202 5.122 2.989
Tot wages/remun 4.941 4.388 4.202 5.122 2.989
Soc sec exp 1.877 1.730 1.617 1.837 1.144
Dividend 75 0 4.240 0 0
Contr sev pay No No No No No
Depreciation 523 549 513 457 405
Bnk overd granted 5.000 1.000 3.600 2.000
2.000
Bnk overdr util 4.174 615 2.893 1.171 1.701
Floating charges 12.300 12.300 12.300 12.300 12.300
Other pledges 7.281 1.246 1.395 74 133
Total pl assets 19.581 13.546 13.695 12.374 12.433
Other contin liab 4.240 4.240 0 0 300
Tot conting liab 4.240 4.240 0 0 300
Audit report
------------ 0501-0512
0401-0412 0301-0312 0109-0212
0009-0108
Audit report Unqualif Unqualif
Unqualif Unqualif Unqualif
Original annual accounts
------------------------
Order by select. Add servYes
Yes Yes Yes Yes
Ratios 0501 0401
0301 0109 00091)industry-
------ -0512 -0412
-0312 -0212 -0108
value 05
Profitability............................................................
Return on equ. % 46,5 58,3
11,3 9,9 17,9
22,0
Return on ass. % 7,0 7,7
6,1 6,2 7,2
8,7
Interest rate % -3,5
-4,1 -4,8 -5,2
-4,5 -1,2
Risk margin % 3,5
3,6 1,3 1,0
2,6 7,1
Gross margin % 5,8
6,9 5,7 4,9
5,6 5,0
Oper margin % 4,8
5,6 4,3 4,0
4,5 3,8
Net margin % 2,8
2,9 1,6 1,4
2,2 3,3
Interest cover 2,2 2,0
1,6 1,5 2,0
8,4
Capital
circulatn........................................................
Cap.turn.rate 1,4 1,3
1,4 1,5 1,6
2,3
Cash fl/t.liab % 4,8 5,0
4,1 3,5 5,5
13,4
Cash fl/finexp % 136,2 122,6
83,7 65,9 119,3
745,4
Self-fin.ratio % - 146,1
38,7 - -
404,8
Stock turn./yr 2,7 2,5
2,5 2,7 2,6
8,1
Turn./empl. TSEK 2.720,0
2.179,0 2.092,0 2.032,0
2.042,0 2.116,0
Lab.costs/turn % -9,6 -10,6
-11,2 -10,5 -8,1
-14,0
Work.cap/turn. % 45,1 43,2
48,3 47,4 43,7
14,1
Acc. rec./turn % 12,0 11,9 11,5 28,0
21,5 12,8
Stock/turn. % 37,0
40,7 39,9 36,6
39,3 11,5
Sh.liab./turn. % 20,8 22,5
18,4 17,6 17,2
21,0
Cust.cred.time 26,9 28,0
48,4 62,0 - 45,7
Cr period grntd 32,2 31,1
31,2 31,9 -
25,3
Liquidity................................................................
Current ratio % 316,5
291,6 362,7 369,4
353,1 171,0
Quick ratio % 139,0 110,9 146,0
161,1 125,4 108,9
Consolidation............................................................
Equity/assets % 8,2
6,7 19,5 20,7
19,6 32,8
Consol. ratio % 9,5
7,8 20,7 22,3
21,3 35,3
Debt/equ ratio 11,1 13,9
4,1 3,8 4,1
2,0
Risk ratio 210,4 333,6 - - 8,3
36,9
Fixd assts
struct........................................................
Fin ass struct % 41,2 44,6
17,7 - 6,6
36,2
Tan ass struct % 58,8 55,4
82,3 100,0 93,4
100,0
1) Median of companies with 5-19 employees in an industry 51879 such as
Wholesale of machinery for industry, trade and navigation n e c
Analysis of the annual accounts (three years)
---------------------------------------------
Profitability
Return on assets is low in spite of increasing profitability.
Consolidation
The consolidation rate is very low and decreasing.
It is primarily the equity that is decreasing.
Note: the forecast for the company's insolvency is normal.
CONSOLIDATED ANNUAL ACCOUNTS AND
RATIOS
Inc. Statem. TSEK
----------------- 0501-0512 0401-0412
0301-0312
Net sales +69.645 +62.876
+55.477
Other op inc 0 +213 0
Goods for resale -38.006 -34.572
-34.295
Other ext costs -10.602 -9.699 -7.855
Personnel costs -15.303 -12.780 -9.067
Depreciation -1.765 -1.663 -1.160
Itm aff compar +213 0 +119
Other op expenses -22 0 0
Operating P/l ........+4.161.....+4.375.....+3.219
Ext interest inc +48 +47 +82
Total fin income +48 +47 +82
Ext interest exp -1.899 -1.833 -1.565
Tot fin exp -1.899 -1.833 -1.565
P/l after fin itm.....+2.310.....+2.589.....+1.736
P/l bef approp
.......+2.310.....+2.589.....+1.736
P/l bef tax ..........+2.310.....+2.589.....+1.736
Tax -615 -649 -231
Min interests
...........-34........-58........-66
Net p/l for year .....+1.661.....+1.882.....+1.440
Balance TSEK
------------ 0501-0512 0401-0412
0301-0312
Cap exp for R&D
60 64 79
Tot int ass 60 64 79
Land & bldgs
7.064 4.563 4.686
Machinery 1.098 1.246 1.395
Equipment 5.074 4.296 4.845
Tot mach & equip
6.172 5.542 6.240
Other tan ass 1 0 0
Tot tan ass 13.237 10.105 10.926
Other fin ass 7 6 6
Tot fin ass 7 6 6
Tot fixed ass ........13.303.....10.175.....11.011
Other invent 34.410 29.667 27.283
Tot inventories 34.410 29.667 27.283
Accs receivable 8.919 7.333 7.131
Other curr rec 374 223 422
Tot curr rec 9.293 7.556 7.553
Tot cash & bank
48 358 45
Tot curr assets ......43.751.....37.581.....34.881
Total assets .........57.053.....47.758.....45.892
Balance TSEK
------------ 0501-0512 0401-0412
0301-0312
Share capital 400 400 400
Other restr cap 1.174 918 844
P/l brought forw 2.656 870 3.779
Net p/l for year 1.661 1.882 1.440
Total equity ..........5.891......4.070......6.463
Min interests 295 250 191
Tot provisions ........1.297......1.401......1.498
Liab to cred inst 24.902 18.410 22.128
Bnk overdr util 4.895 1.413 3.552
Liabl to group co 5.090 4.540 0
Oth long-t liab 2.922 3.223 3.522
Tot long-t liab ......32.914.....26.173.....25.650
Liab to cred inst 3.634 3.874 2.646
Accs payable 9.581 8.041 6.822
Liab t grp/ass co 36 311 0
Other current lia 3.404 3.639 2.622
Tot current liab .....16.655.....15.865.....12.090
Tot equity & liab.....57.053.....47.758.....45.892
Notes etc TSEK
-------------- 0501-0512 0401-0412
0301-0312
No of employees 45 19 39
Salaries board/MD 652
475 620
Wgs/sal to others 11.246 3.913 6.070
Total wages/sal 11.898 4.388 6.690
Tot wages/remun 11.898 4.388 6.690
Soc sec exp 3.494 1.730 2.193
Dividend
Contr sev pay No No No
Depreciation 1.765 1.663 1.160
Bnk overd granted 5.871 1.832 4.440
Bnk overdr util 4.895 1.413 3.552
Floating charges 18.727 18.438 20.629
Prop mortgages 4.511 2.756 2.900
Other pledges 7.284 1.252 1.444
Total pl assets 30.522 22.446 24.973
Other contin liab 4.240 4.240 0
Tot conting liab 4.240 4.240 0
Audit report
------------ 0501-0512 0401-0412
0301-0312
Audit report Unqualif Unqualif
Unqualif
Original annual accounts
------------------------
Order by select. Add serv No
No No
Ratios 0501
0401 0301
------ -0512 -0412
-0312
Profitability............................................................
Return on equ. % 39,2 63,6
26,9
Return on ass. % 7,4 9,3
7,2
Interest rate % -3,7
-4,2 -4,0
Risk margin % 3,6
5,0 3,2
Gross margin % 8,5
9,6 7,9
Oper margin % 6,0
6,9 5,8
Net margin % 3,3
4,1 3,1
Interest cover 2,2 2,4
2,1
Capital
circulatn........................................................
Cap.turn.rate 1,2 1,3
1,2
Cash fl/t.liab % 6,8 8,3
6,8
Cash fl/finexp % 182,2 196,6 170,3
Self-fin.ratio % 110,6 - -
Stock turn./yr 2,0 2,1
2,0
Turn./empl. TSEK 1.547,0
3.320,0 1.422,0
Lab.costs/turn % -17,1 -7,0
-12,1
Work.cap/turn. % 38,9 34,4
41,1
Acc. rec./turn % 12,8 11,6
12,9
Stock/turn. % 49,4
47,0 49,2
Sh.liab./turn. % 23,9 25,1
21,8
Cust.cred.time 29,2 28,7 -
Cr period grntd 31,6 29,4 -
Liquidity................................................................
Current ratio % 262,7
236,9 288,5
Quick ratio % 56,1
49,9 62,8
Consolidation............................................................
Equity/assets % 10,3
8,5 14,1
Consol. ratio % 10,3
8,5 14,1
Debt/equ ratio 8,6 10,7
6,1
Risk ratio 72,0 104,2 -
Fixd assts
struct........................................................
Fin ass struct % 0,1 0,1 0,1
Int ass struct % 0,5 0,6
0,7
Tan ass struct % 99,5 99,3
99,2
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|