MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL
METCORP LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.08.2005 |
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Date of Incorporation : |
30.08.2001 |
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Com. Reg. No.: |
04278981 |
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Legal Form : |
Private Limited
with share capital |
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Line of Business : |
-- |
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 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Identification Details
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Subject
Reported on |
GLOBAL METCORP
LIMITED |
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Trading
Address |
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Telephone |
020 87828744 |
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Risk Score |
Above Average
Risk - Assurances in the form of guarantees may be necessary especially if
the Credit Limit assigned is required to be exceeded |
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Credit Limit |
GBP 9,300 |
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Selling to this company?
The Credit Limit is the recommended maximum outstanding debtor exposure at
any one time. |
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Contract Limit |
GBP 77,300 |
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Buying from this
company? The Contract Limit is the recommended aggregate annual value for
supply contracts. |
Official Company Data
|
Legal Form |
Private Limited
with share capital |
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Registration
Number |
04278981 |
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Date of
Incorporation |
30/08/2001 |
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Registered
Office |
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Date of Last
Annual Return to Registry |
30/08/2006 |
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Activities |
- - - |
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Accounts |
The last filed
accounts cover the period to 31/08/2005 and were presented to Companies House
on 17/01/2006 |
Recently Filed Documents
Details of the
most recent documents
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Date Received |
Description |
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04/12/2002 |
Notification Of A
Change Among The Directors Of A Company |
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31/10/2002 |
Notification Of A
Change Among The Directors Of A Company |
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08/04/2002 |
Notification Of A
Change Among The Directors Of A Company |
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18/09/2001 |
Notification Of A
Change Among The Directors Of A Company |
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31/08/2001 |
Notification Of A
Change Among The Directors Of A Company |
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It should be
noted that there is no legal requirement to file satisfaction details of mortgages/charges
at Companies House. |
Known Directors
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DIRECTOR |
ADARSH
SHRIKANT |
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Occupation |
DIRECTOR |
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Address |
26, |
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Country
of Origin |
BRITISH |
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Date
of Birth |
29/07/1941 |
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Appointment
Date |
30/08/2001 |
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DIRECTOR |
ASHISH
CHAUDHARI |
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Occupation |
METAL TRADER |
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Address |
20, |
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Country
of Origin |
INDIAN |
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Date
of Birth |
08/01/1979 |
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Appointment
Date |
27/08/2002 |
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Other
Appointments |
ARDOUR WORLD
LIMITED, EURO METALS LIMITED |
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SECRETARY |
ADARSH SHRIKANT |
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Address |
26 , |
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Country
of Origin |
BRITISH |
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Date
of Birth |
29/07/1941 |
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Appointment
Date |
30/08/2001 |
Recently Resigned Directors (last
3)
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DIRECTOR |
MR SANDIP AHLUWALIA |
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Address |
31
, KINGSWAY , WEMBLEY , MIDDX , - - |
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Date
of Birth |
29/06/1973 |
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Resignation
Date |
28/08/2002 |
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DIRECTOR |
MR NITESH CHAUDHARI |
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Occupation |
METAL TRADER |
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Address |
1 , |
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Country
of Origin |
INDIAN |
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Date
of Birth |
03/12/1976 |
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Resignation
Date |
28/08/2002 |
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DIRECTOR |
BRIGHTON DIRECTOR LTD - |
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Address |
381
, KINGSWAY , HOVE , |
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Resignation
Date |
31/08/2001 |
Share Summary
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Share
Currency: |
GBP |
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Issued at date
of report: |
600 ORD |
Shares of 100 pence
each |
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Principal
Shareholders: |
Type Of Share |
No. of Shares |
Value |
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MR ASHISH
CHAUDHARI |
ORD |
300 |
300.00 |
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MR NITESH
CHAUDHARI |
ORD |
294 |
294.00 |
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ADARSH SHRIKANT |
ORD |
6 |
6.00 |
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Mortgages and Charges
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Total
Registered |
3 |
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Total
Outstanding |
3 |
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Total
Satisfied |
0 |
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Most Recent
Mortgage |
18/04/2005 |
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Date
Registered |
05/05/2005 |
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Type |
395 |
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Date Created |
18/04/2005 |
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Lender |
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Secured On |
2,030 DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE |
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Details |
INTEREST IN THE SECURITY
FOR THE PAYMENT OF THE RENTS RESERVED BY THE LEASE SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date
Registered |
26/03/2004 |
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Type |
395 |
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Date Created |
15/03/2004 |
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Lender |
TIGERCLOCK
LIMITED |
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Secured On |
ALL MONIES DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE
AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE |
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Details |
THE SUM OF 750.00
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Satisfied? |
No |
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Date
Registered |
23/09/2003 |
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Type |
395 |
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Date Created |
16/09/2003 |
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Lender |
BARCLAYS BANK PLC |
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Secured On |
ALL MONIES DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
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Details |
FIXED AND FLOATING
CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE
INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT
AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
Public Record Information
Summary of
CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
- - - |
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Sic Code |
Description |
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7487 |
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Auditors |
KING AND KING |
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Auditors Notes |
No Qualification.
The Auditors have expressed a clean opinion (i.e. unqualified with no
referrals) on the accounts for the period ended 31/08/2005. |
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Bankers |
- |
Financial Data
Profit and Loss
The following figures are shown in units of GBP '000
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Number of
Weeks |
52 |
52 |
52 |
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Accounts Date |
31/08/2005 |
31/08/2004 |
31/08/2003 |
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Currency |
GBP '000 |
GBP '000 |
GBP '000 |
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Consolidated? |
No |
No |
No |
Balance Sheet
The following figures are shown in units of GBP '000
|
Number of
Weeks |
52 |
52 |
52 |
|
Accounts Date |
31/08/2005 |
31/08/2004 |
31/08/2003 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
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Consolidated? |
No |
No |
No |
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TOTAL FIXED
ASSETS |
293 |
2 |
2 |
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Tangible
Assets |
293 |
2 |
2 |
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Fixed
Assets |
293 |
2 |
2 |
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TOTAL CURRENT
ASSETS |
2,419 |
1,285 |
950 |
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Total
Debtors |
1,789 |
1,268 |
718 |
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Stocks/WIP |
626 |
0 |
0 |
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Cash |
4 |
17 |
232 |
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TOTAL ASSETS |
2,712 |
1,288 |
951 |
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TOTAL CURRENT
LIABILITIES |
2,280 |
1,128 |
868 |
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Bank
Overdraft |
175 |
- |
- |
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Other
Current Liabilities |
2,105 |
1,128 |
868 |
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WORKING
CAPITAL |
139 |
157 |
81 |
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TOTAL LONG
TERM LIABS |
200 |
0 |
0 |
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Other
Liabilities |
200 |
0 |
0 |
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NET
ASSETS/(LIABILITIES) |
232 |
159 |
83 |
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SHARE CAPITAL +
RESERVES |
232 |
159 |
83 |
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Issued
Share Capital |
1 |
1 |
0 |
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Profit
and Loss account |
231 |
159 |
83 |
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SHAREHOLDERS
FUNDS |
232 |
159 |
83 |
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CAPITAL
EMPLOYED |
432 |
159 |
83 |
Key Credit Ratios
|
Accounts Date |
31/08/2005 |
31/08/2004 |
31/08/2003 |
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Current Ratio |
1.06 |
1.14 |
1.09 |
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Long Term
Debt/T.N.W (%) |
86.36 |
0.00 |
0.00 |
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Quick Ratio |
0.79 |
1.14 |
1.09 |
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T.N.W/Total
Assets |
8.55 |
12.37 |
8.73 |
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Borrowing
Ratio |
75.49 |
- |
- |
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Equity Gearing |
8.55 |
12.37 |
8.73 |
Financial Comparison
The following figures are shown in units of GBP '000
|
Number of
Weeks |
52 |
52 |
52 |
|
Accounts Date |
31/08/2005 |
31/08/2004 |
31/08/2003 |
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Currency |
GBP '000 |
GBP '000 |
GBP '000 |
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Other Deferred
Liabs |
200 |
0 |
0 |
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Tangible Net
Worth(T.N.W) |
232 |
159 |
83 |
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Equity |
232 |
159 |
83 |
Key Industry Sector Trends
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Company |
Industry Averages |
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31/08/2005 |
Lower |
Median |
Upper |
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Current Ratio |
1.06 |
0.8 |
1 |
1.8 |
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Borrowing
Ratio |
75.49 |
0 |
0 |
0 |
This comparison is based on the results of 0344917 companies in the same
industrial sector: business services nes
Financial Summary
|
Working
Capital |
The company's working
capital decreased in the period by 11% |
|
Tangible Net
Worth |
Net worth
increased by 72,511 during the period and now stands at GBP 231,821 |
|
Fixed Assets |
The subjects
fixed assets increased during the period by GBP 290,331 to
GBP 292,673 and are now 11% of total assets compared with 0% in the
previous period |
|
Long Term
Liabilities |
Long term
liabilities are now 7% of total assets compared with 0% in the previous
period |
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. |
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 |
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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%)