MIRA
INFORM REPORT
|
Report Date : |
15.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
EXPO
PACKAGING |
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Registered Office : |
Plot
No. 52, Sector No. 2, Kandla Special Economic Zone, Gandhidham – 370230,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.08.1981 |
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Com. Reg. No.: |
07/III/1/81-82 |
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IEC No.: |
37000000103 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTE00047F |
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PAN No.: [Permanent
Account No.] |
AAAFES190K |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer
and Exporter of Offset Printed Colour Cartons with UV Varnish and Foiling,
Printed Labels, Tags and Wrappers Exclusively for the Supplies to the 100%
EOU in India, SEZs, FTZs, and the International Market |
RATING & COMMENTS
|
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
100000 |
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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 and reputed concern having satisfactory track. Trade
relations are fair. Financial position is satisfactory. Payments are usually correct
and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office/Administrative/ Factory/Godown : |
Plot No.
52 and 53, Sector- 2 K.S.E.Z., Gandhidham – 370230, Kutch, Gujarat |
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Tel. No.: |
91-2836-252382/252358/252401/252848 |
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Mobile No.: |
91-9825225625/9825230050 |
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Fax No.: |
91-2836-252428 |
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E-Mail : |
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Website : |
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Area : |
200000
Sq. ft. |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr.
Kirtilal H. Vora |
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Designation : |
Partner |
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Address : |
Plot
Number 174, Sector 4, Gandhidham, Gujarat |
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Date of Birth/Age : |
75 |
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Qualification : |
S.S.C. |
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Name : |
Mr.
Arvind Kirtilal Vora |
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Designation : |
Managing
Partner (Chief Executive Officer) |
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Address : |
Plot Number
171, Sector 4, Gandhidham, Gujatat |
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Date of Birth/Age : |
47 |
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Qualification : |
B.E
(Electronics) |
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Mobile No.: |
91-9825225625 |
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Name : |
Mr.
Shailesh Kirtilal Vora |
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Designation : |
Partner
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Address : |
Plot Number
153, Sector 4, Gandhidham, Gujarat |
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Date of Birth/Age : |
42 |
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Qualification : |
B.Com. |
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Name : |
Mrs.
Jayshree B. Vora |
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Designation : |
Partner |
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Address : |
Plot
174, Sector 4, Gandhidham |
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Date of Birth/Age : |
37 |
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Qualification : |
B.A. |
KEY EXECUTIVES
|
Name
: |
Mr.
Arvind Kirtilal Vora |
|
Designation
: |
Managing
Partner (Chief Executive Officer) |
|
Address
: |
Plot
Number 171, Sector 4, Gandhidham, Gujatat |
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Date
of Birth/Age : |
47 |
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Qualification
: |
B.E.(Electronics) |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Offset Printed Colour Cartons with UV Varnish and Foiling,
Printed Labels, Tags and Wrappers, E Flute Sheets Exclusively for the Supplies
to the 100% EOU in India, SEZs, FTZs, and the International Market |
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Products : |
v Plain Corrugated Boxes v Flexo Printed Corrugated Boxes v Offset Printed Boxes And Cartons v Printed Labels,Tags and
Wrappers Manufacturing v Die Cut Boxes v Heavy Duty Corrugated Boxes v Paper Packaging Products v Gift Boxes v Multi colour offset printed
cartons for soaps,Toothpastes and Cosmetics v Multi coloured printed labels,
tags and wrappers v Offset printed, BOPP laminated
or UV varnished cartons v Die cut - silver/ gold foil and
UV varnished colour cartons v Aqueous varnished and embossed
colour cartons v E flute sheets |
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Exports to : |
Middle
East , Shanghai, Tanzania |
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Imports from : |
USA,
China, Sweden, Germany, Austria, France |
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Terms : |
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Selling : |
L/C,
Credit |
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Purchasing : |
L/C,
Credit |
PRODUCTION
STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Corrugated Boxes |
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6000 matric tonnes per annum |
3000 matric tonnes per annum |
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Colour Cartoons |
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3600 matric tonnes per annum |
1200 matric tonnes |
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Labels, Tags, Wrappers, E flute sheets |
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2000 matric tonnes per annum |
300 matric tonnes |
GENERAL
INFORMATION
|
Customers : |
v
Hindustan
Lever Limited (HLL) v
Liver
India Exports Limited v
100%
EOUS and SEZ Units |
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No. of Employees : |
130 |
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Bankers : |
v
Bank
of Baroda, KSEZ Branch, Gandhidham – 370230 v
Punjab
National Bank, KSEZ Branch, Gandhidham – 370230 v
HDFC
Bank, Gandhidham Branch |
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|
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Facilities : |
v
Bank
of Baroda – Rs. 15.000 Millions v
Punjab
National Bank – Rs. 10.000 Millions v
HDFC
Bank – 175.000 Millions |
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Banking Relations : |
Satisfactory |
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Auditors : |
Harish Khanna & Company Plot Number 130, Sector Number
3, Gandhidham, Kutch, Gujarat |
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Associates/Subsidiaries : |
Asean
Box Corporation Plot
No. 73, Sector – 11, GIDC, Gandhidham (Kutch) – 370201, Gujarat Line
of Business : Manufacturers of
Packing Materials Tel.
No. 91-2836-230350/252401 Fax.
No. 91-2836-252827 E-Mail.
box_board@rediffmail.com Box
Board Containers Plot
No. 52/53, Sector – 2, Kandla Special Economic Zone, Gandhidham – 370230,
Gujarat Tel.
No. 91-2836-252848/252401/252358 Fax.
No. 91-2836-252428/252827 E-Mail.
box_board@rediffmail.com |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
8.300 Millions |
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Borrowed : |
Rs.
2.400 Millions |
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Total : |
Rs.
10.700 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
8.948 |
14.296 |
2.356 |
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Profit/Loss for the year |
3.293 |
(1.875) |
0.019 |
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Export Value |
8.948 |
14.296 |
2.356 |
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Import Value |
2.280 |
1.793 |
0.655 |
Average
Stocks maintained – Rs. 30.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Operation
Expo Packing
is spread out in an area of 0.200 Millions Sq. feet having built up area of
about 90,000 sq. ft, housing the best and the most sophisticated machineries
and equipments in the world
About
Us
They
are one of the leading manufacturers and exporters of corrugated boxes, offset
printed cartons and paper packaging products in India and have their work
office and factory at Kandla Special Economic Zone, Kandla, (a 100% export
processing zone) Gujarat, India since last three decades.
They
are in the field of printing and packaging since last 25 years and are
committed to the efficient and effective quality management systems backed up
with the state of the art equipments, advanced automatic lines with high
production capacity and productivity with an Excellant and versatile
infrastructure. This makes us today a leading player in packaging solutions.
Their
Two Units : Expo Packaging and Asian Box Corporation supplement each other in
serving the varied customer needs and expectations.
Out
of the Two units, M/s Expo Packaging is located at Kandla Special Economic Zone
- a 100 % Export Processing Zone notified by the Government of India to boost
up the exports, while M/s Asean Box Corporation is located at the heavy
industrial area in Gandhidham - Kutch near to the Kandla Port,the Major Port of
India.
They
are credited as "Star Suppliers" by many of their distinguished
clients and their main unit 'M/s Expo Packaging' is working under the stringent
Quality standards to meet the International packaging norms. They are commited
to meet the International standards of packaging requirements in Designing, box
making, die cutting and also graphics and printing.
They
have achieved an enormous growth in exports by their well designed and cost
effective printed boxes and cartons for packaging of cosmetics and other
sophisticated items, to a number of countries especially in the Middle East
countries.
Companies
To serve the varied customer requirements of Exports as
well as the Local Market, they have two units to serve their clientele :
Expo Packaging :
This unit
is located at Kandla Special Economic Zone and is engaged in the manufacturing
of corrugated boxes and offset printed colour cartons with UV varnish and foiling,
printed labels, tags and wrappers, exclusively for the supplies to the 100%
EOUs in India, SEZs and FTZs in India and to the international market.
Asean Box
Corporation :
This
unit is located at the Heavy Industrial Area in Gandhidham, Kutch (Gujarat),
which is very near to the Kandla Port, the major port of India and the Kandla
Special Economic Zone. This unit is engaged in the manufacturing of all types
of corrugated boxes and related packaging materials to meet the demands of
domestic buyers, specifically for the new industrial entrepreneurs in the
excise exempted area of Kutch.
Clientele
They have a rich set of satisfied clientele which
includes the various segments, namely, FMCG, Industrial, Pharmaceutical, Information
Technology Engineering, Cosmetics and Textile.
Their clientele mainly consists of the following categories :
Multinational Companies
Export oriented units - Located at various Special Economic Zones
and Export Processing Zones. - 100 % export
oriented units - Located at various places in India.
Some of the reputed units at Sharjah, Dubai and other Gulf countries.
Infrastructure
Their main unit, Expo Packaging is spread out in an area of 2 lac sq.
feet having built up area of about 90,000 sq. feet, housing the best and the
most sophisticated machinaries and equipments in the world.
The campus includes 40,000 sq. feet of two warehouse for both the raw material
and finished products.
Plant and Technology :
Three corrugation machines - this meets the larger volumes and fast
delivery of customer requirements.
The flexo multicolor printing facility.
Thermo pack boiler : It provides uniform heat to facilitate appropriate
fluting for all the three
machines.
The entire plant has been designed scientifically with a layout to suite the
requirements for the storage of the raw materials, finished goods and waste
handling system.
Their main concern and objective is to develop and design a packaging product
which would highlight the inside product and would give the best communication
and look with an ensured safety
They have a full-fledged quality control laboratory in
their factory at KSEZ (Gandhidham) where they conduct the quality and
performance checks for both the raw materials and finished goods.
Raw materials:
Their
major purchase is of KRAFT PAPER, ART PAPER AND DUPLEX BOARD for "E"
flute cartons. They are importing these raw materials from all over the world
including Sweden and Germeny for providing best quality of products.
They are conducting following tests for the incoming materials.
Grammage of Paper and Board
Bursting Strength
Moisture Content of Paper
These elementary tests are recorded for every lot during its receipts.
For Duplex Boards apart from grummage test, they carry out printability and
folding endurance test, which are critical for "E" flute carton.
Finished Goods:
Before despatching the material to various customers they carry out the
following tests :
Bursting Strength Test
Puncture Resistance of the Box
Edge Crush Test
Compression Strength of the Box
GSM test
Box Moisture Content Test
They are purchasing superior quality of glue for
corrugated boxes and other packaging materials, which play very vital role to
achieve the strength properties of the box.
The packaging of a product is of vital importance in
the highly competitive market scenario at present.
The best efforts and skill are put in the designing of
proper packaging material of the product, which can appeal and communicate its
quality to the final customer in the best possible manner.
Their packaging solutions and company strategy are
unique by three main features: Product quality and customer satisfaction,
assured and committed deliveries, value for the money i.e. most economical
cost.
This strategy gives us an edge over their competitors
and attracts their customers for repeat orders.
They are not dealing with product but providing right
and exact solutions to their customers for their requirements.
A long term business association and an uninterrupted repeat orders from
their existing clients speaks a lot about their credibility and reputations.
Expo
Packaging is engaged in the manufacturing of offset printed colour cartons with
UV varnish and foiling, printed labels, tags and wrappers exclusively for the
supplies to the 100% EOU in India, SEZs, FTZs, and the international market and
have their work office and factory at Kandla Special Economic Zone, Kandla
(100% Export Processing Zone)
Expo
Packing
(Bombay
Printing Press)
A –1/4,
GIDC Industrial Estate,
Gandhidham
– 370 201
Gujarat
Tel. No.
91-2836-220391/230350
Is a
Formal Member of
All
India Federation of Master Printers
605, 6th
Floor, Madhuban, 55, Nehru Place,
New
Delhi – 110019
Tel. No.
91-11-26451742/26451743/55977088
E-Mail.:
aifmp@vsnl.com, aifmpl@gmail.com, printingtimes@vsnl.net
Website-
http://www.aifmp.net/members/formal.htm
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.45.16 |
|
UK
Pound |
1 |
Rs.85.99 |
|
Euro |
1 |
Rs.57.92 |
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 |
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 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 |
|