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MIRA
INFORM REPORT
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Report Date : |
27.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
LABORATORY FOR
ELECTRO OPTICS SYSTEMS (LEOS) |
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Registered Office : |
A-6, Peenya
Industrial Estate, Bangalore - 560 058, Karnataka |
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Country : |
India |
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Date of Incorporation : |
June,
1972 |
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Legal Form : |
Government
Department |
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Line of Business : |
Working under the overall umbrella of
ISAC and carries out research and development in the field of Electro-optic
sensors and systems required for satellites. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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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 Government of India undertaking. Trade relations are fair. Payments are correct and as per commitments. Subject can be considered good for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A-6, Peenya
Industrial Estate, Bangalore - 560 058, Karnataka, India |
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Tel. No.: |
91-80-28392304 |
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E-Mail : |
DIRECTORS
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Name : |
Mr.
Antariksh Bhavan |
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Designation : |
Director
– Publications & Public Relations |
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Address : |
New
Bel Road, Bangalore – 560094, Karnataka, India |
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Tel. No. : |
91-80-23415275
/ 23415474 |
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Fax : |
91-80-23412253 |
BUSINESS DETAILS
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Line of Business : |
Working under the overall umbrella of
ISAC and carries out research and development in the field of Electro-optic
sensors and systems required for satellites. |
GENERAL
INFORMATION
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No. of Employees : |
16423 |
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Bankers : |
State Bank of India, New Delhi, India |
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Banking Relations : |
-- |
FINANCIAL DATA
[all figures are in Rupees
Millions]
No financials are available for such Government owned department.
LOCAL AGENCY
FURTHER INFORMATION
General
Information :
Subject is working under the overall umbrella of ISAC and carries out research and development in the field of electro-optic sensors and systems required for satellites.
ISAC at Bangalore is the lead centre for satellite technology. The research and development activities carried out in this centre are grouped under electronics systems covering digital systems, power, communications and spacecraft assembly and testing, mechanical systems covering structures, thermal systems and spacecraft mechanisms and control and mission. The centre has fabrication and test facilities required for various technologies development activities. The programme planning and evaluation group and systems reliability group supports the centre. The technical physics division of ISAC conducts space science research.
It is under the control and management of Department of Space (DOS), Government of India whose details are given as under :
Department of Space was established in June 1972. The primary objective of the Department of Space is to promote the development and application of space science and technology for the socio-economic benefit of the nation.
The Space Commission and DOS were set up in 1972 to formulate and implement space policies in the country.
With this end in view, Department of Space has evolved the following programmes :
Launch Vehicle programme having indigenous capability for launching spacecraft
INSAT programme for telecommunications, broadcasting, meteorology, developmental education, etc. Remote Sensing programme for application of satellite imagery for various developmental purposes and
Research and Development in Space Sciences and Technology for sub serving the end of applying them for national development.
The space programme is executed through an Indian Space Research Organisation (ISRO), the National Remote Sensing Agency (NRSA), the Physical Research Laboratory (PRL), the National Mesosphere-Stratosphere-Troposphere Radar Facility (NMRF), the North Eastern Space Applications Centre (NE-SAC) and other agencies. The Antrix Corporation, a wholly owned Government company, which was established in the year 1992, is engaged in commercial marketing of space products and services. The establishment of space systems and their utilisation are co-ordinated by national level committees, namely, the INSAT Co-ordination Committee (ICC), Planning Committee of National Natural Resources Management System (PC-NNRMS) and Advisory Committee on Space Sciences (ADCOS).
The Secretariat of DOS and the Headquarters of ISRO are located at Antariksh Bhavan in Bangalore.
The major establishment of Department of Space are as under :
Vikram Sarabhai Space Centre
ISRO Satellite Centre (ISAC)
SHAR Centre (SHAR)
Liquid Propulsion Systems Centre (LPSC)
Space Application Centre (SAC)]
Development and Educational Communication Unit (DECUO)
ISRO Telemetry, Tracking and Command Network (ISTRAC)
Master Control Facility (MCF)
ISRO Inertial Systems Unit
National Remote Sensing Agency (NRSA)
Physical Research Laboratory (PRL)
National Mesosphere-Strato-sphere-Troposphere Radar Facility (NMRF)
ISRO Satellite Centre (ISAC)
Lead centre for satellite technology.
Activities cover digital systems, power systems, communication and microwave systems, spacecraft assembly integration and testing, structures, thermal, spacecraft mechanisms, control systems, spacecraft mission planning and analysis, computers and information, systems reliability and space physics.
Facilities include fabrication and test facilities for satellite projects.
Laboratory for Electro-Optic Sensors (LEOS) works under the overall umbrella of ISAC.
Achievements include design and development of 26 satellites so far of various types like scientific, communication and remote sensing. IRS-P5, IRS-P6, INSAT-3 and G-SAT are current projects.
Indian space programme driven by vision of Dr Vikram Sarabhai considered as the father of Indian Space Programme.
"There are some who question the relevance of space activities in a developing nation. To them, there is no ambiguity of purpose. They do not have the fantasy of competing with the economically advanced nations in the exploration of the moon or the planets or manned space-flight. But they are convinced that if they are to play a meaningful role nationally, and in the community of nations, they must be second to none in the application of advanced technologies to the real problems of man and society. "
Government of India set up Space Commission and Department of Space (DOS) in June 1972. Indian Space Research Organisation (ISRO) under DOS executes Space programme through its establishments located in different places in India.
Main objective of space programme includes development of satellites, launch vehicles, Sounding Rockets and associated ground systems.
Crossed several major milestones.
Experimental phase included Satellite Instructional Television Experiment (SITE), Satellite Telcommunication Experiment (STEP), remote sensing application projects, satellites like Aryabhata, Bhaskara, Rohini and APPLE and launch vehicles, SLV-3 and ASLV.
Present operational space systems include Indian National Satellite (INSAT) for tele-communication, television broadcasting, meteorology and disaster warning and Indian Remote Sensing Satellite (IRS) for resources monitoring and management.
Polar Satellite Launch Vehicle (PSLV) used for launching IRS Satellites and Geosynchronous Satellite Launch Vehicle (GSLV), intended for launching INSAT class of satellites.
Space Science activities include SROSS and IRS-P3 satellites, participation in international science campaigns and ground systems like MST Radar.
ISRO's co-operative arrangements cover several countries and space agencies.
ISRO provides training in space field to personnel from other countries.
ISRO's hardware and services available
commercially through Antrix Corporation.
ISRO Satellite Centre (ISAC)
ISAC at Bangalore is the lead centre for satellite development. The research and development activities at ISAC are grouped under mechanical systems area covering structures, thermal systems and spacecraft mechanisms digital and communications area covering digital system, communication systems and integration and power area covering system integration, spacecraft checkout and power systems. Reliability and components area, computer and information group, programme planning and evaluation group support the activities of the centre.
Laboratory for Electro-Optic Systems (LEOS) at Bangalore working under the overall umbrella of ISAC carries out research and development in the field of electro-optic sensors required for satellites.
Milestones
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2005 |
Successful launch of INSAT-4A by Ariane from Kourou French Guyana,
(December 22, 2005). ISRO's Polar Satellite Launch Vehicle, PSLV-C6, successfully launched
CARTOSAT-1 and HAMSAT satellites from Sriharikota (May 5, 2005). |
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2004 |
The first operational flight of GSLV (GSLV-F01) successfully launched
EDUSAT from SDSC SHAR, Sriharikota (September 20, 2004) |
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2003 |
ISRO's Polar Satellite Launch Vehicle, PSLV-C5, successfully launched
RESOURCESAT-1 (IRS-P6) satellite from Sriharikota (October 17, 2003). Successful launch of INSAT-3E by Ariane from Kourou French Guyana,
(September 28, 2003). The Second developmental launch of GSLV-D2 with GSAT-2 on board from
Sriharikota (May 8, 2003). Successful launch of INSAT-3A by Ariane from Kourou French Guyana, (April
10, 2003). |
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2002 |
ISRO's Polar Satellite Launch Vehicle, PSLV-C4, successfully launched
KALPANA-1 satellite from Sriharikota (September 12, 2002). Successful launch of INSAT-3C by Ariane from Kourou French Guyana,
(January 24, 2002). |
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2001 |
ISRO's Polar Satellite Launch Vehicle, PSLV-C3, successfully launched
three satellites -- Technology Experiment Satellite (TES) of ISRO, BIRD of
Germany and PROBA of Belgium - into their intended orbits (October 22, 2001).
The first developmental launch of GSLV-D1 with GSAT-1 on board from
Sriharikota (April 18, 2001) |
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2000 |
INSAT-3B, the first satellite in the third generation INSAT-3 series,
launched by Ariane from Kourou French Guyana, (March 22, 2000). |
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1999 |
Indian Remote Sensing Satellite, IRS-P4 (OCEANSAT), launched by Polar
Satellite Launch Vehicle (PSLV-C2) along with Korean KITSAT-3 and German
DLR-TUBSAT from Sriharikota (May 26, 1999). INSAT-2E, the last satellite in the multipurpose INSAT-2 series,
launched by Ariane from Kourou French Guyana, (April 3, 1999). |
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1998 |
INSAT system capacity augmented with the readiness of INSAT-2DT
acquired from ARABSAT (January 1998). |
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1997 |
INSAT-2D, fourth satellite in the INSAT series, launched (June 4,
1997). Becomes inoperable on October 4, 1997. (An in-orbit satellite, ARABSAT-1C, since renamed INSAT-2DT, was
acquired in November 1997 to partly augment the INSAT system). First operational launch of PSLV with IRS-1D on board (September 29,
1997). Satellite placed in orbit. |
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1996 |
Third developmental launch of PSLV with IRS-P3
on board (March 21, 1996). Satellite placed in polar sunsynchronous
orbit. |
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1995 |
Launch of third operational Indian Remote Sensing Satellite, IRS-1C
(December 28, 1995). INSAT-2C, the third satellite in the INSAT-2 series, launched (December
7, 1995). |
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1994 |
Second developmental launch of PSLV with IRS-P2 on board
(October 15, 1994). Satellite successfully placed in polar
sunsynchronous orbit. Fourth developmental launch of ASLV with SROSS-C2 on
board (May 4, 1994). Satellite placed in orbit. |
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1993 |
First developmental launch of PSLV with IRS-1E on board
(September 20, 1993). Satellite could not be placed in orbit. INSAT-2B, the second satellite in the INSAT-2 series, launched (July
23, 1993). |
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1992 |
INSAT-2A, the first satellite of
the indigenously-built second-generation INSAT series, launched
(July 10, 1992). Third developmental launch of ASLV with
SROSS-C on board (May 20, 1992). Satellite placed in orbit. |
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1991 |
Second operational Remote Sensing satellite, IRS-1B, launched (August
29, 1991). |
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1990 |
INSAT-1D launched (June 12, 1990). |
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1988 |
INSAT-1C launched (July 21, 1988). Abandoned in November 1989. Second developmental launch of ASLV with SROSS-2 on
board (July 13, 1988). Satellite could not be placed in orbit. Launch of first operational Indian Remote Sensing Satellite, IRS-1A
(March 17, 1988). |
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1987 |
First developmental launch of ASLV with SROSS-1 satellite on board
(March 24, 1987). Satellite could not be placed in orbit. |
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1984 |
Indo-Soviet manned space mission (April 1984). |
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1983 |
INSAT-1B, launched (August 30, 1983). Second developmental launch of SLV-3. RS-D2 placed in orbit (April 17,
1983). |
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1982 |
INSAT-1A launched (April 10, 1982). Deactivated on September 6, 1982. |
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1981 |
Bhaskara-II launched (November 20, 1981). APPLE, an experimental geo-stationary communication
satellite successfully launched (June 19, 1981). RS-D1 placed in orbit (May 31, 1981) First developmental launch of SLV-3. |
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1980 |
Second Experimental launch of SLV-3, Rohini satellite successfully
placed in orbit. (July 18, 1980). |
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1979 |
First Experimental launch of SLV-3 with Rohini Technology
Payload on board (August 10, 1979). Satellite could not be placed in
orbit. Bhaskara-I, an experimental satellite for earth observations, launched
(June 7, 1979). |
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1977 |
Satellite Telecommunication Experiments Project (STEP) carried out. |
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1975-1976 |
Satellite Instructional Television Experiment (SITE) conducted. |
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1975 |
ISRO First Indian Satellite, Aryabhata, launched (April 19, 1975). Becomes Government Organisation (April 1, 1975). |
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1972-1976 |
Air-borne remote sensing experiments. |
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1972 |
Space Commission and Department of Space set up (June 1, 1972). ISRO
brought under DOS. |
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1969 |
Indian Space Research Organisation (ISRO) formed under Department of
Atomic Energy (August 15, 1969). |
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1968 |
TERLS dedicated to the United Nations (February 2, 1968). |
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1967 |
Satellite Telecommunication Earth Station set up at Ahmedabad. |
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1965 |
Space Science & Technology Centre (SSTC) established in Thumba. |
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1963 |
First sounding rocket launched from TERLS (November 21, 1963). |
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1962 |
Indian National Committee for Space Research (INCOSPAR)
formed by the Department of Atomic Energy and work on establishing
Thumba Equatorial Rocket Launching Station (TERLS) started. |
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 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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.65 |
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UK
Pound |
1 |
Rs.87.23 |
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Euro |
1 |
Rs.58.96 |
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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