MIRA
INFORM REPORT
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Report Date : |
23rd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
VIMAL
INTERTRADE PRIVATE LIMITED |
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Registered Office : |
C-310,
Shyam Kamal, Agarwal Market, Vile Parle (East), Mumbai
– 400 057, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
Nil |
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Date of Incorporation : |
03.08.2004 |
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Com. Reg. No.: |
11-147822 |
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CIN No.: [Company
Identification No.] |
U51490MH2004PTC147822 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV11775B |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Distributor
and Dealer of Specialty Chemicals and Resins. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
Moderate
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
In
absence of business and financial details from any sources, it would be
difficult to asses company’s current performance and financial status. Hence,
it would be advisable to deal with the company for any business dealings at
usual trade terms and conditions with some caution, initially. |
LOCATIONS
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Registered Office : |
C-310,
Shyam Kamal, Agarwal Market, Vile Parle (East), Mumbai
– 400 057, Maharashtra, India |
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Tel. No.: |
91-22-26127281 |
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Fax No.: |
91-22-26127382 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr.
Bimal V Shah |
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Designation : |
Director
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Name : |
Mr.
Vasantrai R Shah |
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Designation : |
Director
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Name : |
Mr.
Mayur V Shah |
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Designation : |
Director
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Name : |
Mr.
Parag V Shah |
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Designation : |
Director
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Name : |
Mr.
Hiren V Shah |
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Designation : |
Director
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MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Bimal V Shah |
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270 |
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Mr.
Vasantrai R Shah |
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270 |
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Mr.
Mayur V Shah |
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270 |
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Mr.
Parag V Shah |
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270 |
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Mr.
Hiren V Shah |
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270 |
BUSINESS DETAILS
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Line of Business : |
Distributor
and Dealer of Specialty Chemicals and Resins. |
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Products : |
®
Specialty
Chemicals ®
Resins |
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GENERAL
INFORMATION
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Bankers : |
v
Bank
of Baroda Khand Bazar Branch, Mumbai –
400 003, Maharashtra, India |
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Banking Relations : |
Unknown
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Auditors : |
Mr.
Rajiv N Shah Chartered
Accountants |
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Address : |
A-1,
Shreenath Darshan, Factory Lane, Borivali (West), Mumbai – 400 092,
Maharashtra, India |
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Sister Concerns : |
®
Vimal
Agencies ®
Vimal
Global Trade Private Limited |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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100000 |
Equity
Shares |
Rs. 100/- |
Rs. 10.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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1000 |
Equity
Shares |
Rs. 100/- |
Rs. 0.100 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
No
financial of the company could be available since incorporation.
Management
remained non-cooperative during the current investigation.
LOCAL AGENCY
FURTHER INFORMATION
Profile
Vimal is a leader
in chemical distribution with an extensive network distribution centers
spread across the India. They are the fast growing distributors in Specialty
Chemicals and Resins in India. Head office in Mumbai with regional
representatives in New Delhi, Kolkatta, Kanpur and Chennai.
The company is in trade terms
with:
® Aashland Specialty Chemicals
® Air Product (Sanwa Chemical)
® BASF
® Bentec
® Dow Chemical
® Degussa
® Noveon
® Sachtleben
Products
DOW
®
Vinyl Resin
®
Glycol Ether
®
Epoxy Resin
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Solvents
®
Isocynats
®
Poly Propylene
Glycol
®
Cellosize
(Hydroxy Ethyl Cellulose)
®
Methocel
(Cellulose Ether)
®
DLP
(Redispersible Polymer Powder)
®
Biocide
®
Tone Monomer
(Hydroxyl- Functional Acrylate)
®
Versenex
(Chelating Agents
BASF
® Epoxy Curing Agent
® Polyalcohols, Diols and Specialities for Coatings (UV Curable Coatings / UV Coatings)
® Additives for Coatings (Water- Borne Coatings, Cathodic Electrodeposition Coatings, Epoxy Resins) Propylene Carbonate
® Paint Dryer
AIR
Products
®
Sunmide (Co -
Solvent Soluble Polyamide Resin)
®
Sunmide (Alcohole
Soluble Polyamide Resin)
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Sunurethane
(Polyurethane For Lamination Ink)
®
Gum Dammar
DEGUSSA
®
Degalan (Spcialty
Acrylic)
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Vestowax (Waxes)
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Acematt (Matting
Agent)
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Dynapol
(Saturated, High Molecular, Linear Copolyester)
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Vestagon (Matting
Hardener for Epoxy Resin based Powder Coatings)
SACHTLEBEN CHEMIE
®
Blanc Fixe
(Barium Sulphate)
®
Lithopone
®
Sachtofine P
(Functional Additive)
ASHLAND
®
Derakane
(Epoxy Vinyl Ester Resin)
®
Hetron
®
Modar
SUPERCHLON
– NIPPON PAPER
®
Superchlone (Chlorinated Poly
Propylene)
GOLDSCHMIDT
Methal and Acid Catalysts For:
®
Condensation Reactions for Alkyd- and Polyester Resins
®
Polyurethanes / Silanes / Silicones / Crosslinking and Curing
BENTEC
®
Viscogel
(Rheological Additives / Organoclays)
The
company serve the following industries :
®
Adhesive
®
Construction
®
Electronic
®
Home and Personal
Care
®
Paint
®
Printing Ink
®
Plastic
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Packaging
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Pharmaceutical
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Resin
®
Textile
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Diamond Tool
®
Magnetic Tape
®
Polyurethane
®
Composite
Bankers
Charges Report as per Registry
Name of the Company : Vimal Intertrade
Private Limited
Presented by : -- Bank of Baroda, Khand Bazar Branch, Mumbai – 400 003,
Maharashtra, India
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1.
Date and description of the instrument creating or evidencing the charge
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Composite
hypothecation agreement dated 06.10.2005. |
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2.
Amount secured by the charge /amount
owing on security of the charge |
Rs.
100.000 millions |
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3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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1] The
whole of the borrower’s stocks, both present and future and including but
without prejudice to the generality of the foregoing words, all stocks of raw
material, work-in-progress, semi finished goods and finished goods such as
various chemicals, packing materials and stores etc., whatsoever and
wheresoever situate and / or in transit whether now belonging to or that may
at any time during the continuous of this security belong the borrower or
that may be held by any party anywhere to the order and disposition of the
borrower. 2] all
the present and future book debts, outstanding monies, receivables, claims,
bills, contracts, engagements and securities which are now due and owing or
which may at any time hereafter during the continuance of this security
become due and owing to the borrower in the course of its business by any
person, firm, company or body corporate or by the Government of India or any
State Government of Indian Railways or any Government Department of Office or
any Municipal or Local or Public or Semi-Government Body or authority
whatsoever including those relating to the assets leased out and / or given
on hire purchase basis. |
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4.
Gist of the terms and conditions and extent and operation of the charge. |
The
charges is created to secure following credit facilities together with
interest / commission and margin as stated thereagainst.
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5.
Names, address and description of the
persons entitled to charge |
Bank of Baroda Khand Bazar Branch, Mumbai – 400 003,
Maharashtra, India |
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6.
Date and brief description of instrument modifying the charge |
N A |
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7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
N A |
Contact
C- 310, Shyamkamal, Agrawal Market, Vile Parle (East), Mumbai – 400 057, Maharashtra, India.
Tel. No. : 91-22-26127281
Fax No. : 91-22-26127382
Email : resources@vimalagencies.net
Website : www.vimalagencies.net
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 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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22 |
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
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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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