MIRA
INFORM REPORT
|
Report Date : |
24.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
ORIENT
TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
2 and
3 Niraj Industrial Estate, Off Mahakali Caves Road, Andheri (East), Mumbai-
400059, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04-07-1997 |
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Com. Reg. No.: |
11-109219 |
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CIN No.: [Company
Identification No.] |
U64200MH1997PTC109219 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMO01906C |
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Legal Form : |
Private
limited liability company |
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Line of Business : |
Engaged
in the business of manufacturing, purchase, imports, sell and provide service
in office automation, computers, telecommunication and other electronics
goods and their parts and peripherals |
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
85000 |
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Status : |
Satisfactory |
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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 company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are fair. Business is active. Payments are usually correct and as
per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
2
& 3 Niraj Industrial Estate, Off Mahakali Caves Road, Andheri (East),
Mumbai- 400059, Maharashtra, India |
|
Tel. No.: |
91-22-24960808
/ 89 |
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Fax No.: |
91-22-55021180
/ 24921016 |
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Email : |
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Website : |
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Area : |
Rented
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Head
Office : |
316,
Vasan Udyog Bhavan, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013,
Maharashtra |
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Tel.
No.: |
91-22-24960427/0801/0537/0809/3243 |
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Fax
No.: |
91-22-24960808 |
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Sales
Office : |
Tel. No.
91-22-22622871/22641895/96 Fax. No. 91-22-22673739
Tel. No. 91-22-27687778 |
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|
|
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Warehouse
: |
7/11,
Sector 8, CBD Belapur, Navi Mumbai, Maharashtra |
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Tel
No.: |
91-22-27687778 |
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|
|
|
Retail
Outlet: |
HP
World Store, 13, Chitra, Shantilal Modi Marg, Kandivli (West), Mumbai - 400
096, Maharashtra |
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Tel.
No.: |
91-22-28656471 |
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|
|
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Branches
: |
Tel No.; 91-79-26747779 / 26733056 Email : vinaysalvi@orientindia.net
Tel No.; 91-11-51605315 Mobile No.: 91-9811797222 Email : sunilarora@orientindia.net
Tel No.; 91-44-52079301 Mobile No.: 91-44-52079301 Email : jojiphilip@orientindia.net
Tel No.: 91-22-27577778
Tel No.; 91-80-22207335 Mobile No.: 91-9844018802 Email : sajidpatel@orientindia.net |
DIRECTORS
|
Name : |
Mr.
Ajay Baliram Sawant |
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Designation : |
Whole Time Director |
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Address : |
10/101, Mhada Housing Board, Oshiwara, Andheri (West), Mumbai – 400
058 |
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Date of Birth/Age : |
06/05/1967 |
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Date of Appointment : |
04/07/1997 |
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|
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Name : |
Mr.
Ujjwal Arvind Mhatre |
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Designation : |
Whole Time Director |
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Address : |
10/201
Mhada Housing Board, Oshiwara, Andheri (West), Mumbai – 400 058 |
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Date of Birth/Age : |
07/03/1968 |
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Date of Appointment : |
04/07/1997 |
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Name : |
Mr.
Jayesh Manharlal Shah |
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Designation : |
Whole Time Director |
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Address : |
09/201,
Mhada Housing Board, Oshiwara, Andheri (West), Mumbai – 400 058 |
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Date of Birth/Age : |
07/12/1967 |
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Date of Appointment : |
04/07/1997 |
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|
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Name : |
Mr. Umesh Navnitlal Shah |
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Designation : |
Whole
Time Director |
|
Address : |
23,
Nupur, 2nd Floor, J. V. P. D. Scheme, Near Gulmohar, Cross Road
No. 4, Mumbai – 400 049 |
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Date of Birth/Age : |
02/09/1969 |
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Date of Appointment : |
10/12/1998 |
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|
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|
Name : |
Mrs.
Sonia A. Sawant |
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Designation : |
Whole
Time Director |
|
Address : |
10/101
Mhada Housing Board, Oshiwara, Andheri (West), Mumbai – 400 058 |
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Date of Birth/Age : |
11/05/1968 |
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Date of Appointment : |
02/10/2000 |
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Name : |
Mrs.
Deepa U. Mhatre |
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Designation : |
Whole
Time Director |
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Address : |
10/201,
Mhada Housing Board, Oshiwara, Andheri (West), Mumbai – 400 058 |
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Date of Birth/Age : |
28/10/1973 |
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Date of Appointment : |
02/10/2000 |
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Name : |
Mrs.
Parul J. Shah |
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Designation : |
Whole
Time Director |
|
Address : |
09/201,
Mhada Housing Board, Oshiwara, Andheri (West), Mumbai – 400 058 |
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Date of Birth/Age : |
08/11/1969 |
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Date of Appointment : |
02/10/2000 |
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|
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Name : |
Mrs.
Sejal U. Shah |
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Designation : |
Whole
Time Director |
|
Address : |
23,
Nupur 2nd Floor, J. V. P. D. Scheme, Near Gulmohar, Cross Road No.
4, Mumbai –400049 |
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Date of Birth/Age : |
19/05/1971 |
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Date of Appointment : |
02/10/2000 |
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|
|
|
Name : |
Ms.
Divya Jain |
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Designation : |
Whole
Time Director |
|
Address : |
Flat
No. 605 Wing 3C, Dhiraj Vally, Goregaon (East), Mumbai – 400063 |
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Date of Birth/Age : |
03/09/1971 |
|
Date of Appointment : |
01/12/2000 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Ajay B. Sawant |
10125 |
|
Mr.
Jayesh M. Shah |
10125 |
|
Mr.
Ujjwal A. Mhatre |
10125 |
|
Mr.
Umesh N. Shah |
10125 |
|
Ms.
Divya Jain |
4500 |
|
Total
|
45000 |
BUSINESS DETAILS
|
Line of Business : |
Engaged
in the business of manufacturing, purchase, imports, sell and provide service
in office automation, computers, telecommunication and other electronics
goods and their parts and peripherals |
|
|
|
|
Product
: |
v
Storage
Solutions v
Intel
Servers v
Enterprise
Servers v
Mail
Management v
Citrix
v
Exchange
Offer v
AMC v
Facility
Management v
WAN
& LAN Services |
GENERAL
INFORMATION
|
Suppliers : |
Ř
Alphabetics
Business Machines Private Limited Ř
Arihant
Computer Ř
Data
Care Corporation Ř
Datapro
Infoworld Limited Ř
D-Link
India Limited Ř
Nexus
Computers Limited Ř
Iris
Computer Limited Ř
Redington
India Limited Ř
HCL
Infosystems Limited Ř
Wipro
Peripherals Limited |
|
|
|
|
Customers : |
Ř
Larsen
& Tourbo Limited Ř
Accutrol
Systems Private Limited Ř
ATE
Enterprises Limited Ř
Bank
of Noya Scotia (C) Ř
Bank
of Punjab (N. P.) Ř
Bharti
Cellular Limited Ř
Bharti
Shipyard limited Ř
Birla
AT & T Communications Limited Ř
Blue
Dart Express Limited Ř
DHL
Worldwide Express (India) Private Limited Ř
Duflon
Polymers Private Limited Ř
Hewlett
Packard India Limited (AMC) Ř
Huges
Tele.Com (India) Limited Ř
HP
India Limited Ř
IBM
India Limited Ř
Pidilite
Industries Limited Ř
Punjab
& Maharashtra Co-operative Bank
Limited Ř
Reserve
Bank of India Ř
State
Bank of India Ř
Tata
Institute of Fundamental Research Ř
Tata
Internet Services Limited Ř
The
Great Eastern Shipping Company Limited Ř
The
Leela Mumbai Ř
Vidyut
Corporation Private Limited |
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|
|
|
No. of Employees : |
22 |
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|
|
|
Bankers : |
Ř
Punjab
and Maharashtra Co-operative Bank Limited Ř
Citi Bank N.A., Cititower, Parel,
Mumbai |
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|
|
|
Banking Relations : |
Satisfactory |
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|
Auditors : |
Santosh
G. Ghag and Company Chartered
Accountants 3,
Ovalwadi, Ground Floor, Taya Gharpure Path, Girgaon, Mumbai - 400004 |
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Tel. No.: |
91-22-2200
0362 |
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Fax No.: |
91-22-2201
8703 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs.100/- each |
Rs. 5.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs.100/- each |
Rs. 5.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
4.500 |
3.600 |
|
|
2] Share Application Money |
15.985 |
8.133 |
4.976 |
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|
3] Reserves & Surplus |
20.985 |
12.633 |
8.576 |
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4] (Accumulated Losses) |
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|
|
|
|
NETWORTH |
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|
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LOAN FUNDS |
-- |
-- |
5.092 |
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|
1] Secured Loans |
-- |
-- |
-- |
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|
2] Unsecured Loans |
-- |
-- |
5.092 |
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|
TOTAL BORROWING |
|
|
|
|
|
DEFERRED TAX LIABILITIES |
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|
|
|
|
|
|
|
|
|
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TOTAL |
20.985 |
12.633 |
13.668 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.539 |
12.262 |
11.810 |
|
|
|
|
|
|
|
|
INVESTMENT |
6.876 |
0.126 |
0.126 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.823
|
1.302
|
2.062 |
|
|
Sundry Debtors |
79.160
|
56.306
|
29.083 |
|
|
Cash & Bank Balances |
9.873
|
0.592
|
0.213 |
|
|
Other Current Assets |
1.241
|
8.262
|
2.897 |
|
|
Loans & Advances |
6.904
|
3.850
|
1.396 |
|
Total Current Assets |
103.001
|
70.312
|
35.651 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
95.763
|
66.799
|
31.964 |
|
|
Provisions |
4.671
|
3.272
|
1.502 |
|
Total Current Liabilities |
100.434
|
70.071
|
33.466 |
|
|
Net Current Assets |
2.567
|
0.241
|
2.185 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.003 |
0.004 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
20.985 |
12.633 |
14.126 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
482.682 |
335.023 |
218.327 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
11.056 |
5.558 |
2.501 |
|
Provision
for Taxation |
1.491 |
1.610 |
0.750 |
|
Profit/(Loss)
After Tax |
9.565 |
3.948 |
1.751 |
|
|
|
|
|
|
Total
Expenditure |
471.626 |
329.464 |
215.826 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
1.98
|
1.18 |
0.80 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
2.29
|
1.66 |
1.18 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
9.65
|
6.73 |
5.26 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.44 |
0.29 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
4.79
|
5.55 |
4.50 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.03
|
1.00 |
1.07 |
LOCAL AGENCY
FURTHER INFORMATION
The
company has not achieved but comfortably crossed the target of Rs. 500.000
millions turnover set in the year. During the current year the company plans to
achieve the turnover of Rs.400.000 millions
Orient
Technologies Private Limited is leading System Integrator and a premier Solution provider in IT space. The
company can deliver a broad range of System Integration and Project Management
Solution.
Over the
past decade orient has been working with Enterprises with Enterprises and
helping them plant and deploy IT Infrastructure for business critical
applications. The experience that Orient has gained over the years ranges from
recommending IT products, consultancy in designing networks, implementing
hardware / software solutions, providing hardware maintenance services extending to facilities managements and
complete outsourcing of operations. Being partner with HP and IBM, can provide
solutions that are proven world over.
Orient’s
customers include some of the leading Pharma companies, Manufacturer, internet
services providers, Banks and large Pool of Small and medium Enterprise.
The
company's product range includes :
- HP Pavilion 4403
- HP Pavilion 4407
- HP Pavilion 6418
- HP Pavilion 8415
- 17" HP SVGA Multimedia
Monitor in Lieu of 15" HP SVGA Multimedia Monitor
Fixed
Assets :
- Furniture and Fixture
- Computers and Printers and
Mon.
- Air Conditioner
- Pager
- Refrigerator
- Mobile
- Office Equipment
- HP Calculator
- Motor Car
- EPABX Machine
- Motor Cycle
- Borther Fax Machine
- CD Player
- Music System
- Ultima 600 Series 33U Rack
- Compaq Proliant ML35G and
Ultima 600 Series Rack
- Hp 1215Copier Xerox
- Water Cooler
- IBM Thinkcentre 8175-114Q
with Monitor
|
Name of the Company ORIENT TECHNOLOGIES PRIVATE LIMITED Presented by CITI BANK N.A., CITITOWER, PAREL, MUMBAI |
|
|
Date and description of instrument creating the change |
22nd September, 2004 equitable mortgage by deposit of title deeds. |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000 millions only |
|
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Original Title Deeds of Commercial Property of the Borrower Situated at Unit No 2 & 3, Niraj Industrial Premises Co-Op. Society Limited, Plot NO. 15/B, Mahal Industrial Estate, Mahakali Caves Road Andheri (East), Mumbai – 400093 |
|
Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest is 2.75% less than application Citibank PLR which is currently 17.75% p.a. (applicable rate = 10%) |
|
Name and Address and description of the person entitled to the charge. |
Citibank N.A., Cititower, Parel Mumbai |
|
Date and brief description of instrument modifying the charge |
NA |
|
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
|
|
|
Name of the Company ORIENT TECHNOLOGIES PRIVATE LIMITED Presented by PUNJAB AND MAHARASHTRA CO-OP BANK LIMITED |
|
|
Date and description of instrument creating the change |
Date- 7th August, 2000 Hypothecation of Tangible Moveable Property, Hypothecation of Tangible Moveable Machinery and Plant All the agreement constitute single charge. |
|
Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Limit Rs. 0.500 millions Medium Term Loan Rs. 0.758 millions Total Rs. 1.258 millions |
|
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
|
|
Gist of the terms and conditions and extent and operation of the charge. |
Hypothecation of stock, book debts, furniture and fixture Rat of interest : @ 17% p.a. Repayment : Cash Credit – On Demand / Annual Review Medium Term Loan – on Demand / Permission to repay in 36 months |
|
Name and Address and description of the person entitled to the charge. |
Punjab and Maharashtra Co-Op Bank Limited 264, Gurudwara Building, SBS Marg, Fort Mumbai - 400001 |
|
Date and brief description of instrument modifying the charge |
|
|
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
By this modification, cash credit limit has enhanced from Rs. 1.000 millions to Rs. 2.500 millions to M/s. Orient Technologies Private Limited on the Following terms and conditions: Hypothecation of Stock and Book Debts Collateral Security: Equitable Mortgage of Office Premises, 322 Adhyaru Indl. Estate, Sun Mill, Compound, Lower Parel, Mumbai – 400013 Rate of Interest : 2% O. P. L. R. minimum @ 15% Repayment : On Demand / Annual Review |
|
|
|
|
Name of the Company ORIENT TECHNOLOGIES PRIVATE LIMITED Presented by PUNJAB AND MAHARASHTRA CO-OP BANK LIMITED |
|
|
Date and description of instrument creating the change |
No instrument was executed. However the equitable mortgage has been created by way of deposit of deeds, on 12-3-2004 |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.056 millions |
|
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All that piece and parcel of immovable properties being unit No.2 admeasuring 1140 sq. fts. I.e. 105.94 sq. mts. Are and unit No. 3 admeasuring 1140 sq. ft.- ground floor, Niraj Industrial Estate, Mahal Industrial estate, Mahakali Caves Road, Andheri (East), Mumbai – 400 093, plot No. 16-B, Survey No. 88, Hissa No. 1 Part and city survey No. 46 Par, Village, Mulgaon Taluka Hobli – Andheri, District – Mumbai, together with all structures and machinery standing thereon and to be put up in future, belonging to the borrower. |
|
Gist of the terms and conditions and extent and operation of the charge. |
To secure due repayment of term loan facility granted by the bank of the borrower together with interest thereon and or / any monies that may become due from time to time. |
|
Name and Address and description of the person entitled to the charge. |
Punjab and Maharashtra Co-op bank Limited Fort Branch, Mumbai - 400001 |
|
Date and brief description of instrument modifying the charge |
Not Applicable |
|
Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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.44.65 |
|
UK
Pound |
1 |
Rs.87.23 |
|
Euro |
1 |
Rs.58.96 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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 |