MIRA
INFORM REPORT
|
Report Date : |
03.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
TSG
INTERNATIONAL MARKETING PRIVATE LIMITED |
|
|
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|
Registered Office : |
D –
29, NDSE, South Extension Part – II, New Delhi – 110049 |
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Country : |
India |
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|
Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
08.01.2004 |
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Com. Reg. No.: |
55 –
123929 |
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CIN No.: [Company
Identification No.] |
U51909DL2004PTC123929 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT04507G |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Importers,
Retailers and Distributors of Fashion Garments. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
25000 |
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|
Status : |
Good |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track. Trade relations are fair. Financial position is satisfactory. Payments are correct and as per
commitments. The
company can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
|
Registered Office : |
D –
29, NDSE, South Extension Part – II, New Delhi – 110049 |
|
Tel. No.: |
91-22-39445293 |
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Branches
: |
MOSCHINO,
The Taj Mahal Palace, Apollo Bunder, Mumbai – 400001, Maharashtra, India |
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Tel.
No.: |
91-22-39445293 |
DIRECTORS
|
Name : |
Mr.
Ashok Sachdev |
|
Designation : |
Director
|
|
Address : |
D –
29, NDSE, South Extension Part – II, New Delhi – 110049, India |
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Date of Birth/Age : |
21.12.1954 |
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Date of Appointment : |
15.01.2004 |
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|
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Name : |
Mrs.
Jasbir Sachdev |
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Designation : |
Director |
|
Address : |
D –
29, NDSE, South Extension Part – II, New Delhi – 110049, India |
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Date of Birth/Age : |
12.09.1957 |
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Date of Appointment : |
15.01.2004 |
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|
|
|
Name : |
Ms.
Priya Sachdev |
|
Designation : |
Director
|
|
Address : |
D –
29, NDSE, South Extension Part – II, New Delhi – 110049, India |
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Date of Birth/Age : |
15.02.1977 |
|
Date of Appointment : |
08.01.2004 |
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|
|
|
Name : |
Ms.
Charu Sachdev |
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Designation : |
Director
|
|
Address : |
D –
29, NDSE, South Extension Part – II, New Delhi – 110049, India |
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Date of Birth/Age : |
11.09.1979 |
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Date of Appointment : |
08.01.2004 |
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|
|
|
Name : |
Mr.
Hans Sachdev |
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Designation : |
Director
|
|
Address : |
D –
29, NDSE, South Extension Part – II, New Delhi – 110049, India |
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Date of Birth/Age : |
21.09.1980 |
|
Date of Appointment : |
08.01.2004 |
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|
|
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Name
: |
Mr.
Harpreet Sachdev |
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Designation
: |
Director
|
|
Address
: |
D –
29, NDSE, South Extension Part – II, New Delhi – 110049, India |
|
Date
of Birth/Age : |
16.08.1981 |
|
Date
of Appointment : |
08.01.2004 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr.
Ashok Sachdev |
438000 |
87.60 |
|
Mrs.
Jasbir Sachdev |
50000 |
10.00 |
|
Ms.
Priya Sachdev |
2500 |
0.50 |
|
Ms.
Charu Sachdev |
4500 |
0.90 |
|
Mr.
Hans Sachdev |
2500 |
0.50 |
|
Mr.
Harpreet Sachdev |
2500 |
0.50 |
|
TOTAL |
500000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importers,
Retailers and Distributors of Ladies Fashion Garments. |
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|
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Imports from : |
Italy
and Europe |
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|
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Terms : |
|
|
Selling : |
CAD |
GENERAL
INFORMATION
|
Distributors / Customers : |
AEFFE
Fashion Group, Italy Moschino Jean
Paul Gaultier Pollini Tommy
Hilfiger |
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|
|
|
Bankers : |
Kotak
Mahindra Bank Limited |
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|
|
|
Facilities : |
Term
Loan and Cash Credit : Rs. 20.000 millions |
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|
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Banking Relations : |
Satisfactory
|
|
|
|
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Auditors : |
C. L.
Sethi & Company Chartered
Accountants Contact
Person : Mr. Surinder Sethi |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
500000 |
Equity
Shares |
Rs. 10/- each |
Rs. 5.000 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 |
|
5.000 |
5.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2.030 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
7.030 |
5.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
23.997 |
0.000 |
|
|
2] Unsecured Loans |
|
7.000 |
5.000 |
|
|
TOTAL BORROWING |
|
30.997 |
5.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.286 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
38.313 |
10.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
18.034 |
0.090 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
16.845 |
0.000 |
|
|
Sundry Debtors |
|
0.157 |
0.000 |
|
|
Cash & Bank Balances |
|
3.211 |
0.477 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
6.113 |
10.235 |
|
Total Current Assets |
|
26.326 |
10.712 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities & Provisions |
|
9.156 |
4.256 |
|
Total Current Liabilities |
|
9.156 |
4.256 |
|
|
Net Current Assets |
|
17.170 |
6.456 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
|
3.109 |
3.454 |
|
|
|
|
|
|
|
|
TOTAL |
|
38.313 |
10.000 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
85.895 |
N.A. |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
2.950 |
[2.766] |
|
Provision
for Taxation |
|
0.921 |
0.000 |
|
Profit/(Loss)
After Tax |
|
2.029 |
[2.766] |
|
|
|
|
|
|
Total
Expenditure |
|
81.972 |
2.766 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
2.36 |
-- |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
3.43 |
-- |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
4.27 |
[19.40] |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
28.86 |
[55.32] |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
4.41 |
1.00 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
2.88 |
2.52 |
|
|
|
|
|
|
|
Quick
Ratio |
|
|
1.04 |
2.52 |
|
|
|
|
|
|
|
Current
Liabilities / Net worth |
|
|
1.30 |
0.85 |
|
|
|
|
|
|
|
Fixed
Asset / Net worth |
|
|
2.57 |
0.02 |
|
|
|
|
|
|
|
Average
Collection Days |
|
|
0.67 |
-- |
|
|
|
|
|
|
|
Account
Receivables Turnover |
|
|
547.10 |
-- |
|
|
|
|
|
|
|
Inventory
Turnover |
|
|
5.10 |
-- |
|
|
|
|
|
|
|
Asset
Turnover |
|
|
4.76 |
0.00 |
LOCAL AGENCY
FURTHER INFORMATION
CLIPPINGS
Moschino wings its way to
big & small towns
Ashish K Tiwari
Monday, January 16, 2006 19:42 IST
MUMBAI:
Italy-based Aeffe Fashion Group and its Indian partner TSG International
Marketing Private Limited have chalked out aggressive retail expansion plans
for India.
The duo
is planning to open at least five new Moschino boutiques in the next five
years. Launched in 2005, Moschino brand comprises of high-end luxury Italian
women’s wear range.
“They
are taking a step-by-step approach towards establishing their presence in
important luxury markets in India. Their first Moschino boutique was opened in
Mumbai in October 2005, and they plan to open another boutique in Delhi this
year. They will also open four-five boutiques in five years in other parts of
the country,” said Charu Sachdev, CEO of TSG International Marketing Private
Limited
Besides
Delhi, the company is also eyeing Ludhiana, Bangalore and Hyderabad for
launching its Moschino boutiques.
TSG
International Marketing, which is a part of the Rs. 5886 million Sachdev Group,
is in the business of introducing and managing luxury brands in India. Aeffe
Fashion Group is one of the Italy's biggest fashion conglomerates, which owns
brands like Moschino, Jean Paul Gaultier and Pollini.
Most of
the Moschino outlets will be opened in five-star and five-star deluxe shopping
centres.
Sachdev,
however, refused to give any investment details. Moschino’s Mumbai boutique
currently retails the brand’s mainline women’s wear apparel and accessories and
the Cheap & Chic line.
The
range is priced from Rs. 3500 to over Rs. 0.100 million. However, the Italian
fashion group is also looking at introducing its other brands in India.
“They
plan to launch a complete range in the menswear category, jeans and suits.
Later, we also intend to introduce their kids-wear category. These products
will help us widen their customer base,” said Alessandro Ferreri, general
manager (Asia & Middle East) for Aeffe Fashion Group.
With an
average of five customers a day, the Moschino boutique at The Taj Mahal Palace
& Tower in Mumbai has a conversion rate of 7%. The average spend per
person, on the outer side, is around Rs. 0.070 million.
Moschino Comes to
India 2005
Posted by on Nov 21, 2005, 00:16 
MOSCHINO COMES TO INDIA
TSG International Marketing Private Limited
Launches MOSCHINO’S first flagship store in Mumbai
MUMBAI, October 12, 2005: MOSCHINO, the high-end
Italian luxury designer brand, launched its first store in India with a fashion
show of the brand’s Autumn-Winter women’s-wear collection comprising of
MOSCHINO Mainline (First Prêt-a-porter) line, MOSCHINO Cheap & Chic (Second
Prêt-a-Porter) Line, as well as MOSCHINO Perfumes, Bags and Shoes.
Located within The Taj Mahal Palace and Towers,
Mumbai’s most prestigious five-star hotel, and a city landmark since 1903, the
MOSCHINO flagship store is spread over 1000 sq. ft. The boutique concept has
been expressly designed by the MOSCHINO creative team for this special setting
and represents the global MOSCHINO store look. Classic elements like steel,
stone, wood and marble are unconventionally combined with irony while at the
same time featuring great attention to detail. Louis XV armchairs covered in
red velvet, luminous walls made for displaying accessories, floors in chequered
Romano and Navona travertine stone, over-sized mirrors and trompe l’œil-effect
furniture all contribute towards giving the setting a distinctly MOSCHINO feel.
The glass slippers chandelier and the glass box with the pretence-of-being-wooden
tables are very unique and very MOSCHINO
Present at the store opening and the fashion showcase of MOSCHINO, Charu
Sachdev, CEO, TSG International Marketing Private Limited said, “The main
objective of their company TSG International Marketing is to introduce and
manage high-end luxury brands in India. Their tie-up with AEFFE Fashion Group
has made it possible to bring MOSCHINO to India.” She added, “India, along with
China, is the fastest-growing market in the world right now. As the country’s economic
power grows, consumers in India will demand the very best in global products
and services. They believe that MOSCHINO, with its global reputation,
impeccable quality and universal appeal, will be highly successful in India,
offering the Indian consumer truly world-class fashion products.”
MOSCHINO recognizes India as an important market with the young, modern woman
being the perfect MOSCHINO customer. The MOSCHINO woman is bold and dares to be
different, always uniquely dressed. She exudes the confidence to stand out in a
crowd. She loves playing with her clothes…She aspires to be different… She is a
trend setter, not a follower, and definitely not a fashion victim… She is a
loyal MOSCHINO woman.
Attending the launch in Mumbai, Mr. Alessandro Ferreri, General Manager Asia
for AEFFE Fashion Group said, “AEFFE has a strong plan of expansion in India,
and they intend to develop in the country the whole portfolio of brands in the
AEFFE Fashion Group (MOSCHINO, Alberta Ferretti, Jean Paul Gaultier and Pollini).
I am extremely excited about their strategic partnership with TSG International
Marketing. With their expertise, I am confident that India will see the entry
of many more high-end luxury brands through their Fashion Group.” He added,
“MOSCHINO is committed to the Indian market and post the launch of its
women’s-wear and accessories collection in October 2005 in Mumbai, through
their partnership with TSG International Marketing, India will see the launch
of MOSCHINO in New Delhi next.”
MOSCHINO has been brought to India by TSG International Marketing Private
Limited - a company which focuses on the business of introducing and managing
luxury brands in India. TSG International Marketing Private Limited has tied up
with AEFFE Fashion Group (one of the biggest Italian Fashion conglomerates
which owns brands such as Moschino, Jean Paul Gaultier, Pollini and Alberta
Ferretti) for the marketing and distribution of its high end luxury brands. The
first international brand to be introduced to India by this group is MOSCHINO.
MOSCHINO was launched by Franco Moschino in 1983, when he was just 33 years
old. A high-end Italian luxury designer brand, MOSCHINO focuses on fashion that
is fun with an element of irony and humour, yet is sexy, cool and
sophisticated. The first exclusive MOSCHINO flagship store in India is located
at The Taj Mahal Palace and Tower, Apollo Bunder, Mumbai 400 001. Tel :
91-22-39445293.
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 records 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.44.45 |
|
UK
Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.57.12 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|