MIRA
INFORM REPORT
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Report Date : |
09.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ROTOMAC ELECTRICALS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.11.1972 |
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Com. Reg. No.: |
21-28584 |
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CIN No.: [Company
Identification No.] |
U31103WB1972PTC028584 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALR00997D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of D C Traction Motor, Poly Vinyl Formal
Resin, Glass Banding Tapes, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
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Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 110000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are fair. Payments are correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-33-22263665 / 22264297 / 22269155 |
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Fax No.: |
91-33-22494177 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft [Leased] |
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Factory 1 : |
101L, |
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Tel. No.: |
91-33-24391643/24391421/24391740 |
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Area : |
30000 Sq. ft [Leased] |
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Factory 2 : |
21/2-C, |
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Factory 3 : |
Paharpur, Kolkata - 700 024, West |
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Factory 4 : |
Sahibabad, District |
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Branches : |
503/504, |
DIRECTORS
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Name : |
Mr. Sisir Kumar Sarkar |
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Designation : |
Director |
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Address : |
1-D, |
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Date of Birth/Age : |
19.07.1928 |
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Qualification : |
B. E (Electricals) |
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Date of Appointment : |
02.11.1993 |
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Other Directorship |
Rotomac International Limited |
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Previous Employment |
The General Electric Company of |
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Name : |
Mr. S. Raja Gopal Acharyulu |
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Designation : |
Director |
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Address : |
D/TA, Cooperative, 164/3A, |
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Date of Birth/Age : |
05.06.1939 |
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Qualification : |
B.E (Electricals) |
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Date of Appointment : |
02.06.2003 |
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Other Directorship |
Rotomac International Limited |
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Previous Employment |
The General Electric Company of |
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Name : |
Mr. S P Chtterjee |
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Designation : |
Whole Time Director |
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Address : |
388/5, |
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Date of Birth/Age : |
24.09.1974 |
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Date of Appointment : |
01.12.2003 |
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Date of Ceasing : |
17.12.2004 |
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Name : |
Ms. Subha Sarkar |
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Designation : |
Director |
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Address : |
1-D, |
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Date of Birth/Age : |
26.09.1938 |
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Qualification : |
B.E. Tech |
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Date of Appointment : |
02.11.1993 |
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Name : |
Mr. Sougato Sarkar |
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Designation : |
Director |
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Address : |
1-D, |
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Date of Birth/Age : |
24.09.1974 |
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Date of Appointment : |
17.12.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Sisir Kumar Sarkar |
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32332 |
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Subha Sarkar |
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11970 |
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Dutta Prasadshiba |
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2020 |
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S. Raja Gopal Acharyulu |
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13400 |
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Ganjee Sarwar |
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6688 |
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Sukamal Sarkar |
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1760 |
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Amina Gangjee |
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1100 |
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Usha M. Vyas |
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2200 |
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Khozeha Mogul |
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1100 |
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Abdul Mogul |
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1100 |
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Rotomac Switchgear |
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56200 |
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Anuradha Bhadra |
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1000 |
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Tushar Sarkar |
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1000 |
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Arunabha Bannerjee |
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1372 |
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Gopal |
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800 |
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Mridul Kumar Datta |
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748 |
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N. B. Mukherjee |
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1200 |
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Eastern Coils Private Limited |
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65000 |
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Rhattacharjee N. S. |
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1000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of D C Traction Motor, Poly Vinyl Formal
Resin, Glass Banding Tapes, etc. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Contract L/C, Credit terms |
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Purchasing : |
Contract L/C Credit - 30 Days terms |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
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P. Coil of TAO 659 - Nos. |
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291 |
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M. P. Coil (Modified)659 - Nos. |
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1000 |
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Field Coil with Pose Shoes - Sets |
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50.30 |
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Power & Equipment Oils of TM-Sets |
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25 |
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M P & C P Coils with Shoes - Sets |
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34 |
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Power & Equipment Coils of 253 Bx - Sets |
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44 |
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M P & C P to Single Design for TAO 659 - Sets |
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50 |
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Inter Pole Coils - Nos. |
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30 |
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Armature GE 763 - Nos. |
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8 |
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GE 752 T M Armature & Power & Power Coil - Sets |
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11.76 |
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Str. F S & A S - Nos. |
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282 |
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Rewinding Kit - Sets |
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282 |
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Traction Motor Ameture - Sets |
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12 |
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Collopinion - Nos. |
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60 |
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Traction Motor Armature Coils - Sets |
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15 |
GENERAL INFORMATION
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Customers : |
Manufacturers, Retailers, Indian Railways, Weltech, etc. |
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No. of Employees : |
98 |
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Bankers : |
v
Standard Chartered Grindlays Bank, v
ABN Amro Bank N V, ITC Centre, v
Indian Overseas Bank, Free School Branch,
Kolkata - 700 016, West v Standard Chartered Bank v
State Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R Dey and Associates Chartered Accountants |
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Address : |
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Tel. No.: |
91-33-22135485 |
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Fax No.: |
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Group Companies : |
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Associates/Subsidiaries : |
v Eastern Coils Private Limited v Rotomac Switchgears Private Limited SUBSIDIARIES Rotomac Electricals ( |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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550000 |
Equity Shares |
Rs. 10/-each |
Rs. 5.500
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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516000 |
Equity Shares |
Rs. 10/- Each |
Rs. 5.160 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.160 |
2.064 |
0.880 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
23.736 |
24.633 |
2.341 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.896 |
26.697 |
3.221 |
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LOAN FUNDS |
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1] Secured Loans |
9.677 |
22.257 |
2.781 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.498 |
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TOTAL BORROWING |
9.677 |
22.257 |
3.279 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
38.573 |
48.954 |
6.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
13.725 |
12.252 |
13.027 |
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Capital work-in-progress |
0.306 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
15.095 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.242
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23.825 |
12.095 |
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Sundry Debtors |
11.102
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8.952 |
0.555 |
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Cash & Bank Balances |
14.390
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7.504 |
11.510 |
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Other Current Assets |
0.281
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0.596 |
0.000 |
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Loans & Advances |
28.548
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26.831 |
21.986 |
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Total
Current Assets |
64.563
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67.708 |
46.146 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
28.578
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20.089 |
51.358 |
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Provisions |
11.445
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10.922 |
16.410 |
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Total
Current Liabilities |
40.023
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31.011 |
67.768 |
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Net Current Assets |
24.540
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36.697 |
(21.622) |
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MISCELLANEOUS EXPENSES |
0.002 |
0.005 |
0.000 |
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TOTAL |
38.573 |
48.954 |
6.500 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
107.644 |
24.588 |
823.523 |
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Other Income |
1.530 |
0.000 |
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Total Income |
109.174 |
24.588 |
823.523 |
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Profit/(Loss) Before Tax |
2.837 |
[6.260] |
2.532 |
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Provision for Taxation |
0.523 |
-- |
2.382 |
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Profit/(Loss) After Tax |
2.314 |
[6.260] |
0.150 |
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Earnings in Foreign Currency : |
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Total Earnings |
103.353 |
18.320 |
NA |
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Imports : |
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Total Imports |
5.357 |
1.036 |
NA |
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Expenditures : |
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Total Expenditure |
106.337 |
30.848 |
NA |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
2.12
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[25.46] |
0.01 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.64
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[25.46] |
0.30 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.62
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[7.83] |
4.27 |
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Return on Investment (ROI) (PBT/Networth) |
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0.10
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[0.23] |
0.78 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.72
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2.00 |
22.05 |
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Current Ratio (Current Asset/Current Liability) |
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1.61
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2.18 |
0.68 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
v Bepumps
v Crompton
Bankers Charges
Report as per Registry
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Name of the company |
ROTOMAC ELECTRICALS
PRIVATE LIMITED |
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Presented By |
State Bank of |
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1) Date and description of instrument creating the change |
Agreement of
Hypothecation of Goods and Assets dated 26.09.1996 As modified on
30.01.1999, 36.07.1999, 03.08.1999, 24.04.2001, 25.06.2002, 07.04.2004 and
11.03.2004 for Rs. 63.500 Millions |
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2) Amount secured by the charge/amount owing on the securities of charge |
Other limit Rs.
47.000 Millions |
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3) 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 present and
future goods, book debts and all other movable assets of the borrower
including documents of title to the goods, outstanding moneys, receivables including
receivables by way of cash assistance and cash inventive under the cash
incentives scheme or any other scheme claims by way of refund of customs
duties under the Duty Drawback credit Scheme or any other scheme, bills
invoice documents, contracts, insurance polices, guarantees, engagements,
securities, investments and right belonging to or in the possession or under
the control of the borrower wherever lying stored and kept and whether in
possession of the borrower or of the bank of any third party whether in India
of elsewhere thought the world by way of first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The borrower
shall not do or allow anything which may prejudice the security an shall
comply with the terms and conditions of the agreements. The Bank reserve
the right to charge the inters, commission, discount, costs and charges at
such rate as may be determined by the bank from time to time according to
banking norms and RBI Guidelines. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Supplemental agreement
of hypothecation of goods and assets for increase in the overall limit dated
07.11.2005 |
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7) 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 the overall limit is enhanced from Rs. 63.500 Millions to Rs.
103.500 Millions as detailed under :
*CC Limit will be
one way interchangeable with PCFC / EPC limit ** SLC as PCFC /
EPC # 25 % interchangeable
from LC to BG $ 50 %
interchangeable from BG to LC Interest for PCFC
/ EPC, FBD, SLC, LC and BG as per SBI/RBI instruction Margin 10 % of
PCFC / EPC 25 % of CC, BG
and 15 % of LC sight usance The list of Plant
and Machinery situated at 1, All other terms
and conditions to remain as before in full force and effect. |
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
80033149 |
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Corporate
identity number of the company |
U31103WB1972PTC028584 |
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Name of the
company |
ROTOMAC ELECTRICALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
State Bank of Overseas Branch, Samriddhi Bhawan, |
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Nature of
description of the instrument creating or modifying the charge |
Link letter [Dated 30.05.2007] Letter of Arrangement [Dated 30.05.2007] |
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Date of instrument
Creating the charge |
30.05.2007 |
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Amount secured by
the charge |
Rs. 93.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest applicable
to the different sub-limits granted within the overall limit are stated in
the letter of arrangement. Terms of
repayment As per the
agreement made between the borrower and the lender. Margin EPC / PCFC Stocks
– 10 % Cash Credit
Stocks 25 % Receivables – 25
% LC – Sight 10%
Usance 25 % BG – 25 % Extent operation
of the charge The charge
operates as first charge basis on the whole of the hypothecated current
assets both present and future. Other All other terms and
conditions to remain as before in full force and effect. |
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Short particulars
of the property charged |
The amount is
secured by hypothecation of all present and future current assets and the
company’s entire stocks of finished goods etc. lying at the company’s godowns
or at any other place with the approval of the bank as well as hypothecation
of the Book Debts and Receivables and Drawing to be regulated on the basis of
letter of credit / confirmed orders. |
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Particulars of
the present modification |
By this
modification the overall limit has been reduced from Rs. 95.000 Millions to
Rs. 93.000 Millions upon the borrower agreeing to extend the hypothecation
charge created in favour of the Bank over the said movable assets to cover
the decreased limit of Rs. 93.000 Millions All other term
and conditions continue to remain as before in full force and effect. |
AS PER WEBSITE
They have been operating for the last 30 years now. Their
activities include traction motors and their spare parts, insulation materials
such as but not limited to class H/C solvent-less varnishes, resins,
solvent-less varnishes, tapes and mica products. They also offer consultancy,
mainly in the setting up of manufacturing and repair facilities for the
products mentioned.
Recently they have entered into the area of specialty polymeric
products, namely MACVAR™ , which finds application in the electrical industry in North America, Europe and parts of
They have plans to launch adhesives for engineering and structural
uses which will find application in composites, honey combs and printed
circuits, in the near future.
History
1972
Rotomac
was set up by a group of professional and highly qualified engineers.
Facilities were geared towards the repair of locomotive traction motors.
1974
Indian Railways selected Rotomac to repair their electric loco/diesel electric
loco motors.
1979
Rotomac was selected by the Indian Railways to become the exclusive repair
house in the private sector to repair traction motors and generators of diesel
electric locomotives. This contract was valid until 1993 in which period over 4000
traction motors were repaired. In the history of Indian Railways this was
the largest duration for any contract.
1981
Rotomac was franchised and appointed the authorized General Electric (GE)
repair shop in
1982
Rotomac was appointed GE Sales Representative for insulating materials in
1985-1988
GE and Rotomac signed a collaboration agreement for the manufacture of the GE
range of insulating materials and varnishes (class H & C) in
Rotomac R & D facility is recognized by the Govt. of India.
1991
Rotomac enters export market:
Rotomac was awarded a contract to repair 40 GE 761 traction motors
of Indonesian Railways worth US$ 560,000.00. His Excellency, the Indonesian
Ambassador to
Rotomac was awarded a second order to supply spare parts for 50
traction motors to Indonesian Railways and other Railways worth US$ 415,000.00.
1992-93
Rotomac received a contract from Bangladesh Railways to repair traction motors
and generators worth US$ 307,000.00.
Rotomac received an order from
In association with Chittaranjan Locomotive Works (CLW), Rotomac develops the
single coil design for the TAO 659 field coils. Several stator frames fitted
with the single coil design field coils were tested at CLW and were found
acceptable.
1994
Rotomac enters traction motor and traction motor armature manufacture field:
Rotomac receives orders for updated versions of 60 GE 752 traction
motors and GE 761 traction motors from the Railway Board.
Rotomac receives orders for Alsthom make TAO traction motor
armature and stator frames.
Rotomac received repeat orders from
Rotomac received orders from
Rotomac supplies 120 sets of single coil design field coils to
CLW.
Rotomac becomes the approved source for the supply of insulating
materials of the temperature class 180°C/200°C.
1995
Rotomac receives orders from CLW for new Hitachi traction motors - 2 prototype
traction motors were successfully type tested (as per IEC 349) by CLW/RDSO
engineers and were cleared for production.
Rotomac receives repeat orders from
1996
Rotomac, Noida, the second traction motor works was commissioned in February.
Rotomac installs new mica plant at Sahibabad.
Railway Board (Indian Railways) selects Rotomac for the
manufacture of
Rotomac receives export orders from
Rotomac receives export orders from
1997
Rotomac becomes the second company in
Rotomac becomes the second approved source for the supply of
single coil design field coils for traction motor stators.
1998
Rotomac receives approval for the supply of TAO 659 traction motors to Indian
Railways.
Rotomac receives orders for 42 TAO 659 traction motors from the
Railway Board.
Rotomac receives a contract for the repair of traction motors and
generators from Bangladesh Railways and training of Bangladesh Railway workshop
engineers and workers in the art and science of traction motor repairs.
Rotomac receives a contract from Myanmar Railways for setting up a complete
modern traction motor plant for them.
1999-2002
Rotomac supplies total plant and equipment sets for traction motor
manufacturing and repair works to Insein works of Myanmar Railways.
Supplies total spare parts for the repairs of traction motors.
Today
Rotomac is perhaps one of the very few companies in the world who possess the
expertise in
manufacturing - new traction motors, new spare parts for 16 types
and models of traction motors, thermal class 180°C/220°C insulating varnishes
and materials.
repairing - over 6500 traction motors of assorted
types.
plant and equipment - special purpose equipments for traction motor
works, testing station for testing traction motors as per IEC 349, special
purpose jigs, fixtures, tools, moulds, etc.
project work - setting up the most economical and
"state of the art" traction motor manufacturing and repair works.
development activities - re-engineering of very old traction motors to
upgrade HP rating (presently Rotomac is carrying out this work for ACTS,
Holland, for 60 traction motors against a contract) and protective coatings for
hot rolled, cold rolled steel sheets, aluminum sheets, etc (patent applied
for).
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.40 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.55.77 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|