MIRA INFORM REPORT
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Report Date : |
11.11.2006 |
IDENTIFICATION DETAILS
|
Name : |
INTEGRA
AUTOMATION PRIVATE LIMITED |
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Registered Office : |
11,
M T H Road, Ambattur Sidco Estate, Chennai – 600098 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
26.09.1989 |
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Com. Reg. No.: |
18-18113 |
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CIN No.: [Company Identification No.] |
U30007TN1989PTC018113 |
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IEC No. |
0494026537 |
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TAN No.: [Tax Deduction & Collection Account No.] |
CHEI00517G |
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PAN No.: [Permanent Account No.] |
AAACI7412H |
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Legal Form : |
Private
limited liability company |
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Line of Business : |
Manufacturer
and exporter of precision machined components and gear and gear box. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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Maximum Credit Limit : |
USD 150000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having fine track. Directors are reported as
experienced, respectable and resourceful businessmen. Their trade relations
are fair. Financial position is good. Payments are usually correct and as per
commitments. The
company can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office /
Factory 1 : |
11,
M T H Road, Ambattur Sidco Estate, Chennai – 600098, India |
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Tel. No.: |
91-44-26251303/26258443/26254832 |
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Mobile : |
91-9444412991 |
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Fax No.: |
91-44-26259164 |
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E-Mail : |
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Website : |
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Area : |
7000
sq. ft. - Owned |
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Factory 2 : |
126/2,
Sangothipalayam Road, Arasur Post, Coimbatore – 641407 |
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Tel. No.: |
91-422-2361224/2361225/2361052 |
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Fax No.: |
91-44-2361053 |
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E-Mail : |
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Area : |
17000 sq.ft. - Owned |
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Factory 3 : |
Developed
Plot No. 120 (SP), Ambattur Industrial Estate, Chennai – 600058 |
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Tel. No.: |
91-44-26242292/26242293 |
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Fax No.: |
91-44-26259164 |
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E-Mail : |
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Area : |
7000
sq. ft. - Owned |
DIRECTORS
|
Name : |
Mr.
G. Sinivasan |
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Designation : |
Director
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Address : |
153,
Tea Estate Compound, Race Course, Coimbatore - 641018 |
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Date of Birth/Age : |
74
years |
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Name : |
Mr.
S. Murali |
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Designation : |
Director
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Address : |
153,
Tea Estate Compound, Race Course, Coimbatore - 641018 |
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Date of Birth/Age : |
42
years |
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Name : |
Mr.
S. Ravi |
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Designation : |
Director
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Address : |
153,
Tea Estate Compound, Race Course, Coimbatore - 641018 |
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Date of Birth/Age : |
41
years |
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Name : |
Mr.
M Ramesh |
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Designation : |
Director
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Address : |
No.
236, Race Course, Coimbatore - 641018 |
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Date of Birth/Age : |
41
years |
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Name : |
Mr.
S. Sokkalingam |
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Designation : |
Director
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Address : |
No.
2, Rukmani Street, U R Nagar, Padi, Chennai - 600050 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and exporter of precision machined components and gear and gear box. |
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Products : |
Ø
CNC Horizontal
Machining Center Ø
CNC Vertical Turning
Center Ø
CNC Vertical Machining
Center Ø
And other Ancillary
Machines. |
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Exports to : |
Germany
and Japan |
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Imports from : |
Japan
and Korea |
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Terms : |
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Selling : |
L/C
terms |
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Purchasing : |
L/C
terms |
GENERAL INFORMATION
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Customers : |
End
User, OEM’s and Tier 1 Customer |
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No. of Employees : |
Total
96 people : 7 in office + 89 in factory |
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Bankers : |
Central
Bank of India Ambattur,
Chennai – 600098 Central
Bank of India Peelamedu
Branch, Avanashi Road, Coimbatore |
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Facilities : |
Central
Bank of India, Ambattur, Chennai – 600098 Cash
Credit : Rs. 60.000 millions |
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Banking Relations : |
Satisfactory
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Auditors : |
Parameshwaran
and Company Chartered
Accountants Flat
No. 1, Mano Appartments, 41/ 1A, Thambuswamy Road, Kilpauk, Chennai – 600010 |
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Tel. No.: |
91-44-26424073 |
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Associates : |
Craftsman
Automation Private Limited 15,
LML Colony, Ammankulam Road, Coimbatore
- 641037 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 100 each |
Rs. 10.000
millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
78250 |
Equity
Shares |
Rs. 100 each |
Rs. 7.825 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
7.825 |
6.215 |
5.760 |
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3] Reserves & Surplus |
34.172 |
24.557 |
16.955 |
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NETWORTH
|
41.997 |
30.772 |
22.715 |
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LOAN FUNDS |
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1] Secured Loans |
72.707 |
29.497 |
15.909 |
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2] Unsecured Loans |
2.500 |
2.225 |
0.000 |
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TOTAL
BORROWING
|
75.207 |
31.722 |
15.909 |
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DEFERRED TAX LIABILITIES |
10.480 |
4.949 |
3.251 |
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TOTAL
|
127.684 |
67.443 |
41.875 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
96.537 |
38.778 |
30.841 |
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Capital work-in-progress
|
-- |
-- |
-- |
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INVESTMENT
|
-- |
-- |
-- |
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DEFERREX TAX ASSETS
|
-- |
-- |
-- |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
|
0.000
|
0.000 |
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Sundry Debtors
|
25.481
|
11.268 |
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Cash & Bank Balances
|
11.935
|
13.824 |
19.273 |
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Other Current Assets
|
11.726
|
14.706 |
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Loans & Advances
|
0.000
|
0.000 |
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Total Current Assets
|
49.142
|
39.798 |
19.273 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities and Provisions
|
17.995
|
11.133 |
8.239 |
Total Current Liabilities
|
17.995
|
11.133 |
8.239 |
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Net Current
Assets
|
31.147
|
28.665 |
11.037 |
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MISCELLANEOUS EXPENSES
|
-- |
-- |
-- |
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TOTAL
|
127.684 |
67.443 |
41.875 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
|
90.518 |
58.093 |
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Profit/(Loss) Before Tax
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|
18.142 |
11.750 |
Provision for Taxation
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|
6.963 |
4.147 |
Profit/(Loss) After Tax
|
|
11.179 |
7.603 |
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Export Value
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|
21.235 |
13.564 |
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Import Value
|
|
53.803 |
12.648 |
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Total Expenditure
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|
72.051 |
46.353 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
12.350 |
13.087 |
N.A. |
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Net Profit Margin
(PBT/Sales) |
(%) |
20.472 |
21.087 |
N.A. |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
12.453 |
14.953 |
N.A. |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.431 |
0.381 |
N.A. |
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Debt Equity Ratio
(Total Liability/Networth) |
|
2.219 |
1.392 |
1.06 |
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Current Ratio
(Current Asset/Current
Liability) |
|
2.730 |
3.574 |
2.33 |
LOCAL AGENCY FURTHER INFORMATION
The
company is in trade terms with :
Ø
Lakshmi Machine Works
Coimbatore
Ø
Amalgamation Valeo
Clutch Limited Chennai
Ø
Elgi Equipments Limited
Coimbatore
Ø
Brakes India Limited,
Chennai
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.44.90 |
|
UK
Pound |
1 |
Rs.85.91 |
|
Euro |
1 |
Rs.57.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
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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 |
|
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
|
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 |