MIRA INFORM REPORT
|
Report
Date : |
04.12.2007 |
IDENTIFICATION DETAILS
|
Name : |
AT AND S
INDIA PRIVATE LIMITED |
|
|
|
|
Formerly
Known As : |
INDAL ELECTRONICS LIMITED |
|
|
|
|
Registered
Office : |
12/A, Industrial
Area, Nanjangud, Mysore District – 571 301, Karnataka |
|
|
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|
Country
: |
India |
|
|
|
|
Financials
(as on) : |
31.03.2007 |
|
|
|
|
Date
of Incorporation : |
30.05.1988 |
|
|
|
|
Com.
Reg. No.: |
08-25863 |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U85110KA1988PTC025863 |
|
|
|
|
TAN
No.: [Tax
Deduction & Collection Account No.] |
BLRA05803A |
|
|
|
|
PAN
No.: [Permanent
Account No.] |
AAECA29301 |
|
|
|
|
Legal
Form : |
Private Limited Liability Company |
|
|
|
|
Line of
Business : |
Manufacturers
of Printed Circuit Boards |
RATING & COMMENTS
|
MIRA’s
Rating : |
A |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum
Credit Limit : |
USD
3200000 |
|
|
|
|
Status
: |
Good |
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|
|
|
Payment
Behaviour : |
Regular |
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|
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Litigation
: |
Clear |
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|
Comments
: |
Subject is a relatively small company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office / Factory: |
12/A, Industrial
Area, Nanjangud, Mysore District – 571 301, Karnataka, India |
|
Tel.
No.: |
91-8221-304000 |
|
Fax
No.: |
91-8221-228570 / 228571 / 228572 |
|
E-Mail
: |
|
|
Website
: |
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|
Area : |
80000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
12/A, Industrial
Area, Nanjangud, Mysore District – 571 301, Karnataka, India |
|
|
|
|
Branch
1 : |
No. 201, 2nd Cross, 4th Main,
Koramangala, 1st Block, Bangalore 560 034, Karnataka, India |
|
Tel.
No.: |
91-80-51217891 |
|
Fax
No.: |
91-80-51217895 |
|
E-Mail
: |
|
|
Location : |
Rented |
|
|
|
|
Branch
2 : |
Suite No. 1015, Navrang House, No. 21, Kasturba Gandhi
Marg, New Delhi 1, India |
|
Location : |
Rented |
|
|
|
|
Branches: |
Ø Austria Ø Germany Ø India Ø China Ø Korea |
DIRECTORS
|
Name : |
Mr. Suryaprasad Barandadi Hegde |
|
Designation
: |
Managing Director & Chief Operating Officer |
|
|
|
|
Name : |
Mr. Pradeep Mehta |
|
Designation
: |
Managing Director, Chief Financial Officer & Company
Secretary |
|
Address:
|
# 314, Premier Residency, 3 D, Dewan’s Road, Mysore – 570021,
Karnataka, India |
|
Date
of Birth/Age : |
25.09.1961 |
|
Qualification
: |
CA, ACS, B. Law |
|
Date
of Appointment : |
21.02.2002 |
|
Previous
employment : |
Enron India Private Limited |
|
|
|
|
Name : |
Mr. Sommerer Heralad |
|
Designation
: |
Director |
|
Address
: |
Dirbockweg
3 A – 8700, Leoben, Austria |
|
Date
of Birth/Age : |
15.03.1967 |
|
Date
of Appointment : |
21.01.1999 |
|
|
|
|
Name : |
Mr. Hamsen Eilskoy Steen |
|
Designation
: |
Director |
|
Address:
|
Eduard – Preiffer Str – 61, Stuitgart – 70192 |
|
Date
of Birth/Age : |
28.10.1958 |
|
Date
of Appointment : |
11.03.2004 |
|
|
|
|
Name : |
Mr. Moitzi Heinz |
|
Designation
: |
Director |
|
Address:
|
8740, Zeltweg, Australia |
|
Date
of Birth/Age : |
05.07.1956 |
|
Date
of Appointment : |
11.03.2004 |
|
|
|
|
Name : |
Mr. Dorflinger Willibald |
|
Designation
: |
Chairman |
|
Address
: |
A – 8753, Fohnsdorf, Steirergasse, Austria |
|
Date
of Birth/Age : |
20.05.1950 |
|
Date
of Appointment : |
21.01.1999 |
|
Date
of Ceasing : |
08.04.2005 |
|
|
|
|
Name : |
Mr. Muller Peter |
|
Designation
: |
Director |
|
Address
: |
MAG Peter Muller, Franz – Schubert – Strase, 33-35-2384,
Breitenfurt, Wien, Austria |
|
Date
of Birth/Age : |
06.09.1965 |
|
Date
of Appointment : |
29.05.2001 |
|
Date
of Ceasing : |
09.09.2004 |
|
|
|
|
Name : |
Mr. Jung Hans Peter |
|
Designation
: |
Managing Director |
|
Address
: |
2 E Temple Trees, Siddhartha Nagar, Mysore -570011,
Karnataka, India |
|
Date
of Birth/Age : |
11.07.1955 |
|
Date
of Appointment : |
21.02.2002 |
|
Date
of Ceasing : |
22.06.2005 |
|
|
|
|
Name : |
Mr. Ottitsch Mathias |
|
Designation
: |
Director |
|
Address
: |
Bennogasse 29/18, A – 1080, Vienna, Austria |
|
Date
of Birth/Age : |
11.02.1967 |
|
Date
of Appointment : |
11.03.2004 |
|
Date
of Ceasing : |
08.04.2005 |
|
|
|
|
Name : |
Mr. Ma Patrick |
|
Designation
: |
Director |
|
Address
: |
5 A, Mountainville Court 7 Lok, Fung Path, Hong Kong |
|
Date
of Birth/Age : |
08.01.1960 |
|
Date
of Appointment : |
22.06.2005 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
List of Equity Shareholders |
|
|
Austria
Technologie and System Technik AG |
13362499 |
|
Mr.
Pradeep Mehta |
1 |
|
Total |
13362499 |
|
List of Preferences Shareholders |
|
|
Austria
Technologie & System Technik |
2500000 |
|
|
|
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign
holdings [Foreign institutional investors, Foreign Companies, Foreign
Financial Institutions, Non-resident Indian or Overseas corporate bodies or
others] |
99.99 |
|
Directors or relatives of directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers
of Printed Circuit Boards |
|
|
|
|
Product
|
Prinyed
Circuit Boards – 85340001 Its’ products
range includes: - v
Impedance
Control PCB’s v
Blind
via sequential build up & 12 layer sample development v
High
Tg material (170 Tg) v
BT
Epoxy (Trials ongoing) v
Carbon
Printing – Sample developed |
|
|
|
|
Exports: |
|
|
Countries : |
Austria, Germany,
Australia, Netherlands, Malaysia, USA and Europe |
|
|
|
|
Imports
: |
|
|
Products : |
Raw Material |
|
Countries : |
Singapore,
Taiwan, Malaysia, Germany, USA, UK and Japan |
|
|
|
|
Terms
: |
|
|
Selling : |
Credit (60 – 120 Days) |
|
|
|
|
Purchasing : |
L/C or Credit (60 – 90 Days) |
PRODUCTION
STATUS
|
Particulars |
Unit |
|
Installed Capacity |
Actual Production |
|
Printed
Circuit Boards |
Sq.mt. |
|
227143 |
205504 |
GENERAL INFORMATION
|
Suppliers
: |
Ø
Dupont
(Singapore) PTE Limited, Singapore. Ø
Eternal,
Taiwan Ø
Hitachi,
Singapore Ø
Autotech,
USA Ø
Electra,
UK Ø
Taiyo,
Japan Ø
Mega
Tools, USA Ø
Kremmer,
Germany Ø
Mitsui,
Malaysia Ø
Gould,
Germany Ø
Siemens
Information Systems Limited, Bangalore Ø
Mitsui,
Malaysia Ø
Nelco,
Singapore Ø
Litton,
Singapore Ø
BT
Solders Private Limited, India |
|
|
|
|
Customers
: |
Ø
RAF,
Germany Ø
ERG
Communications, Germany Ø
Astek,
USA Ø
Alcatel,
Malaysia and Australia Ø
E –
Mail DataCraft, Australia Ø
Analog
Devices, USA Ø
Fibcom,
USA Ø
Ericsson
Radio Access, Sweden Ø
Nokia
Networks, Sweden/India Ø
Motorola,
USA/Singapore/India Ø
Siemens
A&D Division, Berlin/Hamburg, Germany Ø
Valeo
ITT, USA Ø
Delphi
(Megomos), USA/Europe Ø Department of Electronics,
Government of India, New Delhi |
|
|
|
|
No. of
Employees : |
Around 550 |
|
|
|
|
Bankers
: |
Ø Punjab National Bank, Devraj URS
Road, Mysore – 570001, Karnataka, India Ø Deutsche Bank AG, Raheja Towers,
M. G. Road, Bangalore 560001, Karnataka |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
|
|
Name: |
Price
Waterhouse & Company Chartered
Accountants |
|
Address: |
10th
Floor, C Wing, Mittal Tower, 47 / 6, M G Road, Bangalore 560 001, Karnataka,
India |
|
|
|
|
Associates
: |
Ø
Indal
Exports Limited Ø AT & S Group, Austria |
|
|
|
|
Subsidiaries
: |
AT&S Asia
Pacific Limited, Hong Kong |
|
|
|
|
Holding
Company |
Ø
Austria
Technologie & System Technik AG, Austria Fabriksgasse 13 487,Leoben – Hinterberg, Austria Ø AT and S AG, Austria |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
2,500,000 |
1% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
|
TOTAL |
|
Rs.400.000
millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13,362,500 |
Equity Shares |
Rs.10/- each |
Rs.133.625 Millions |
|
2,500,000 |
1% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
|
TOTAL |
|
Rs.383.625
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
383.625 |
383.625 |
383.625 |
|
|
2] Share Application
Money |
0.000 |
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
424.685 |
424.614 |
603.768 |
|
|
4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
808.310 |
808.239 |
987.393 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
145.712 |
259.635 |
150.005 |
|
|
2]
Unsecured Loans |
380.638 |
303.698 |
365.365 |
|
TOTAL
BORROWING
|
526.350 |
563.333 |
515.370 |
|
|
DEFERRED
TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1334.660 |
1371.572 |
1502.763 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
832.858 |
994.504 |
1030.265 |
|
Capital work-in-progress
|
1.686 |
24.568 |
45.484 |
|
|
|
|
|
|
|
INVESTMENT
|
1.362 |
1.362 |
1.362 |
|
DEFERREX TAX ASSETS
|
8.438 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
415.861 |
354.965 |
357.354 |
|
|
Sundry Debtors
|
169.191 |
160.069 |
196.549 |
|
|
Cash & Bank Balances
|
63.722 |
10.912 |
16.366 |
|
|
Other Current Assets
|
1.830 |
4.447 |
4.558 |
|
|
Loans & Advances
|
260.734 |
203.313 |
151.840 |
Total Current Assets
|
911.338
|
733.706
|
726.667
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
365.128 |
357.895 |
293.697 |
|
|
Provisions
|
55.894 |
24.673 |
11.318 |
Total Current Liabilities
|
421.022
|
382.568
|
305.015
|
|
Net
Current Assets
|
490.316 |
351.138 |
425.652 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1334.660 |
1371.572 |
1502.763 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
|
|
|
|
|
Sales
|
1892.330 |
1599.600 |
1734.118 |
|
Other Income
|
98.614 |
99.864 |
85.255 |
|
Total
Income
|
1990.944 |
1699.464 |
1819.373 |
|
|
|
|
|
|
|
Profit/(Loss) Before Tax
|
23.361 |
[173.546] |
86.951 |
|
Provision for Taxation
|
2.970 |
[55.679] |
25.663 |
|
Profit/(Loss) After Tax
|
20.391 |
[117.867] |
61.288 |
|
|
|
|
|
|
|
Export Value
|
1434.933 |
1224.994 |
1344.769 |
|
|
|
|
|
|
|
|
Imports
: |
|
|
|
|
|
|
Raw Materials |
824.831 |
678.785 |
876.951 |
|
|
Stores & Spares |
70.458 |
54.036 |
|
|
|
Capital Goods |
6.675 |
102.183 |
|
|
Total
Imports |
901.964 |
835.004 |
876.951 |
|
|
|
|
|
|
|
Expenditures :
|
|
|
|
|
Cost of Materials
|
1077.982 |
980.867 |
0.000 |
|
Operating and Other Expenses
|
643.358 |
633.559 |
0.000 |
|
Financial Charges
|
44.976 |
31.098 |
25.238 |
|
Depreciation
|
201.267 |
205.568 |
0.000 |
|
Exceptional and Non Recurring Items
|
0.000 |
21.918 |
0.000 |
|
Other Expenses
|
0.000 |
0.000 |
1681.946 |
|
Total
Expenditure
|
1967.583 |
1873.010 |
1707.184 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
1.02 |
[6.94]
|
3.36 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
1.23 |
[10.85]
|
5.01 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
1.34 |
[10.04]
|
4.92 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.03 |
[0.21] |
0.08 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
1.17 |
1.17
|
0.83 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
2.16 |
1.91
|
2.38 |
LOCAL AGENCY FURTHER
INFORMATION
HISTORY:
Subject was incorporated on 30th May, 1988 at
Kolkata in West Bengal having Company Registration Number 44514.
Subject was originally incorporated under the name &
style of Infobase Systems Private Limited. It became a Deemed Public Limited
Company w.e.f. 15th May, 1990 and changed its name to Infobase
Finance Limited w.e.f. 18th February, 1993. The company further
changed its name to Indal Electronics Limited w.e.f. 18th July, 1996
and then to the present w.e.f. 1st April, 1999.
The company shifted its Registered office from Kolkata in West Bengal to Mysore in Karnataka with
effect from 21st October, 1999 and obtained a New Company
Registration Number 25863 of the Registrar of Companies, Karnataka.
Name Changed to the present from 1st April 1999,
as a consequence of change in ownership from the Indian Aluminium Company
Limited; Kolkata (Indal), to Austria Technologies and Systemtechnik AG; Austria
(AT&S).
Business
Subject is engaged in the business as manufacturers,
exporters and marketers of Printed Circuit Boards, Software Development, IT
solutions, Research and Development, etc.
It is also engaged in software development and providing IT
solutions.
Certification
The company
has been accredited with:
·
ISO
9002 From 1993 From: BSIQA; UK Certification.
·
ISO
14001 From 1996 From: Aspects, UK Certification.
A Joint Team of ELCINA (Electronic Component Industries
Association), Commonwealth Science Council, UK and Rajiv Gandhi Foundations
have chosen the company as one of the five model plants in India as Technology
leaders on Environment Management in Electronics & IT sectors.
It has
absorbed technology from AMP-AKZO INC, USA.
It is in
trade terms with:
Austria Technologies and Systemtechnik AG; Austria
Fixed Assets
Ø
Leasehold Land
Ø
Buildings
Ø
Plant & Machinery
Ø
Computers And Office
Equipments
Ø
Furniture &
Fixtures
Ø
Motor Vehicles
Bankers Charges Report as per
Registry
|
This form
is for |
Creation
of charge |
|
Corporate
identity number of the company |
U85110KA1988PTC025863 |
|
Name of
the company |
AT AND S
INDIA PRIVATE LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
12/A,
Industrial Area, Nanjangud – 571301, Mysore District, Karnataka |
|
Type of
charge |
Movable
Property Floating
Charge |
|
Particular
of charge holder |
Punjab
National Bank, Devraj URS Road, Mysore - 570001, Karnataka, India |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
on current assets and second charge on specified fixed assets |
|
Date of
instrument Creating the charge |
07.11.2006 |
|
Amount
secured by the charge |
Rs.
160.000 Millions |
|
Brief
particulars of the principal terms an conditions and extent and operation of
the charge |
Rate of
Interest 10.25 %
p.a. Terms of
repayment Overdraft
facility Margin 25 % [50
% on spares] Extent operation
of the charge
|
|
Short
particulars of the property charged |
Properties
are located in 12 A, Industrial Area, Nanjangud, Mysore. |
As Per Web Details:
India
Subject already is the largest producer of printed circuit
boards in India. The plant in Nanjangud
produces multilayer printed circuit boards for midrange and large-scale series.
Continuous investments are developing the technological equipment and capacity
is constantly expanding.
The Nanjangud printed circuit boards are used predominantly in the areas of
industrial and medical technology, and in the automotive industry as well. The
location can be expanded as required.
In July 2005 subject acquired the Indian company ECAD (located in Bangalore), which specializes in
printed circuit board design. The aim in acquiring this company was to extend
the range of services subject provides and to offer customers good prices at
the printed circuit board design stage. Subject, the largest manufacturer of printed
circuit boards in India, is now also becoming the biggest designer of these
components.
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.39.45 |
|
UK Pound |
1 |
Rs.81.12 |
|
Euro |
1 |
Rs.58.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP
CAPITAL |
1~10 |
7 |
|
OPERATING
SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT
LINES |
1~10 |
7 |
|
--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 |
|
63 |
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 |
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 |