MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MANN INDIA TECHNOLOGIES PRIVATE LIMITED |
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Formerly Known As : |
MANN.COM INDIA PRIVATE LIMITED |
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Registered Office : |
80, Sukhdev Vihar, New Delhi –
110048 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.05.2000 |
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Com. Reg. No.: |
55-105619 |
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CIN No.: [Company
Identification No.] |
U72900DL2000PTC105619 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM06090A |
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PAN No.: [Permanent
Account No.] |
AACCM2679N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the development and implementation of custom
software solutions. |
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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Maximum Credit Limit : |
USD 32000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experience and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
80, Sukhdev Vihar, New Delhi –
110048 |
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Email: |
pkgassociates@rediffmail.com |
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Corporate Office: |
B-267A, Greater Kailash Part -
I , New Delhi - 110048 (INDIA) |
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Tel. No.: |
91-11-41635514-15-16 |
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Fax No.: |
91-11-41635513 |
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E-Mail : |
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Website : |
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Branches : |
Edificio, SAI SADAN, Calle F,
Canjerejo (PANAMA) |
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Tel. No.: |
91-507 - 2413217, 5929104,
6259372 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Sushil Choudhary |
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Designation : |
Director |
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Address : |
B-267A, Greater Kailash Part -
I , New Delhi - 110048 (INDIA) |
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Date of Birth/Age : |
10.11.1974 |
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Date of Appointment : |
09.05.2000 |
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Name : |
Ms. Roopam Shyam |
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Designation : |
Director |
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Address : |
B-267A, Greater Kailash Part -
I , New Delhi - 110048 (INDIA) |
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Date of Birth/Age : |
01.10.1975 |
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Date of Appointment : |
09.05.2000 |
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Name : |
Ms. Latika Ragunathan |
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Designation : |
Director |
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Address : |
B-267A, Greater Kailash Part -
I , New Delhi - 110048 (INDIA) |
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Date of Birth/Age : |
10.02.1978 |
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Date of Appointment : |
16.04.2002 |
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Name : |
Ms. Nabi Noor Ul Quazi |
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Designation : |
Director |
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Address : |
B-267A, Greater Kailash Part -
I , New Delhi - 110048 (INDIA) |
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Date of Appointment : |
09.05.2000 |
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Name : |
Mr. Sushil Kumar Jain |
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Designation : |
Director |
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Address : |
B – 1/1614, Vasant Kunj, New Delhi – 110070, India |
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Date of Appointment : |
20.01.2004 |
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Name : |
Mr. Atul Jain |
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Designation : |
Director |
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Address : |
B 0 II / 112, Sunrise Apartments, Sector – 13, Rohini Delhi – 110085,
India |
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Date of Appointment : |
20.01.2004 |
SHAREHOLDING
PATTERN
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the development and implementation of custom
software solutions. |
GENERAL
INFORMATION
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Customers : |
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Bankers : |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
P K Gaur and Associates Chartered Accountants |
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Address : |
1207, Rohit House, 3, Tolstoy Marg, New Delhi – 110001, India |
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Tel. No.: |
91-11-41503681 |
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Fax No.: |
91-11-23731352 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
80,100 |
Equity Shares |
Rs. 10/- each |
Rs. 0.801
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.801 |
0.801 |
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2] Share Application Money |
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6.991 |
4.182 |
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3] Reserves & Surplus |
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0.331 |
0.432 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.123 |
5.415 |
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LOAN FUNDS |
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1] Secured Loans |
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1.493 |
0.479 |
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2] Unsecured Loans |
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1.695 |
1.865 |
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TOTAL BORROWING |
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3.188 |
2.344 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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11.311 |
7.759 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.537 |
0.523 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.270 |
0.257 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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9.245 |
6.525 |
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Cash & Bank Balances |
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0.132 |
0.210 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.040 |
0.754 |
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Total
Current Assets |
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10.417 |
7.489 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.756 |
0.510 |
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Provisions |
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0.157 |
0.000 |
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Total
Current Liabilities |
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0.913 |
0.510 |
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Net Current Assets |
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9.504 |
6.979 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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11.311 |
7.759 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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8.385 |
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Other Income |
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0.777 |
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Total Income |
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9.162 |
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Profit/(Loss) Before Tax |
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0.043 |
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Provision for Taxation |
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|
0.032 |
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Profit/(Loss) After Tax |
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0.011 |
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Earnings in Foreign Currency : |
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Total Earnings |
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8.385 |
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Expenditures : |
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Depreciation & Amortization |
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0.307 |
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Other Expenditure |
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8.812 |
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Total Expenditure |
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9.119 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.12 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.51 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.36 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.01 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.50 |
0.53 |
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Current Ratio (Current Asset/Current Liability) |
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11.41 |
14.68 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
MANN.COM INDIA
PRIVATE LIMITED |
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Presented By |
Corporation
Bank, Greater Kailash – II, New Delhi – 110048, India |
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1) Date and description of instrument creating the change |
16.04.2001 Agreement for
Hypothecation of Book Debts |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.600 Million |
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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 |
Hypothecation of
favour of the bank he present as well as the future book – debts, outstanding
monies receivables, claims, bills and contracts engagements, securities,
investments, rights and assets as first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The interest on
Over Drafts Limit of Rs. 0.600 Million shall be charged at the rate of 4 %
OPLR subject to a minimum of 15.5 % p.a. with quarterly rests or at such
other rate as may be specified by the bank from time to time. Repayable on
demand. |
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5) Name and Address and description of the person entitled to the charge. |
Corporation Bank M-4, Greater Kailash
– II, New Delhi – 110048, India |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
AS PER WEBSITE
PROFILE
Incorporated in May 2000, thy are a software
company with ideals focused as much on client satisfaction as on their dreams,
colors, commitment and work.
They are engaged in the development and implementation of
custom software solutions. Their geographical area of operations is Central and
South America (collectively called Latin America or LATAM) where they have
established themselves with the benefit of a first mover advantage and formed
key strategic partnerships with local players.
It has been their constant endeavor to ensure that the roots
of their organization are lodged firmly in terra firma. They believe that
healthy and vibrant businesses processes and strong realistic goals will help
them grow higher, stronger and faster than the competition.
CLIENT
Digitel GSM is the most innovative telecommunications company in Venezuela, that
provides wireless telephony, basic, public and mobile telecom solutions. It is
currently the only operator in Venezuela offering GSM technology. It brings to
the market a unique supply of current generation equipment and services. With
more than 2.3 million clients, Digitel GSM has been a pioneer in the launching
services like invoicing in seconds, multimedia, GPRS, and continues to surprise
the customers on a day to day basis with unique and innovative offerings.
Grupo Archicentro is a
multinational organization involved in development of products for Document
Management and Information Management domain. They have 22 years of expertise in
the area of digitalization, archival, storage and administration of digitalized
assets. With a client base of 60,000 large and small enterprises including
multinational banks, insurance companies, government organization and many
more.
Celpago the fastest and
most secure way to transfer cash real time from the mobile phones. They provide
same-day payments and virtually instant cash transfers. You pay no charges for
transfers to and from Merchants.
ICGEB: International Centre for Genetic Engineering and
Biotechnology is an International United Nation Organization dedicated to
advanced research and training in molecular biology and biotechnology, with
special regard to the needs of the developing world. It has a scientific staff
of two hundred scientists, research associates and student with administrative
staff strength of sixty-five people.
Arango: Arango Software International (ASI) is the pioneer in
software development for the Latin-American financial industry, based in Panama
City. It provides the latin american financial industry with products and high
quality services, taking advantage of acquired knowledge and the appropriate
technology. Arango Software International is into IT consulting for Financial
Institutions, Products for the financial domain, Services and Training.
Public Institution is Banglore based
Software Company working mainly for Public Sector, Shipping and Oil companies
.They are providing them Enterprise Process Manager such that more than 500
users will be able to use this application. Structure of the organization is
very complex and their main concern was to increase efficiency and transparency
within the organization.
SISINGE Sisinge is panama based
Software company and has very strong presence in Central America. SAC, SIGMA
and PDA applications are few of their copyright products. Their client list
includes Coca-Cola, Venezuela, Café Duran, Panama and so on. They are one of
the leading company promoting mobile value added services in the region.
DELHI ASSOCIATION OF THE DEAF From birth to death,
they live in a world of eternal silence. They do not know any language, not
even their mother-tongue. Self improvised and vague signs and gestures are
their only mean of self-expression and understanding. Formal education, in
their special institutions which can help tap residual faculties and impart a
modicum of linguistic skills, is beyond the reach of over ninety nine percent
of them, there being just four hundred odd schools for them in the whole of
India. The three training institutes for adult deaf can only accommodate two
hundred trainees at a time. Training available is generally in age-old trades,
crafts and not all of them relevant today.
ISI Indian Statistical Institute is a
premier Statistical institute of the country. The New Delhi chapter of the
institute caters to Statistical Planning, Statistical Quality Control and
Operations Research, Theoretical Mathematics and statistics.
- Touch Screen ready Application.
- In built and transparent printer
interface.
- Tested and Implemented with -
- Olivetti
Thermal Printer
- Epson dot
matrix Printer
- Custom made reports.
Security:
- Password protected Application
- Access login with user name &
Time/Date
- Separate Password for Reports section
- Separate Password for Bill Modification
facility
PANAFOTO: Panafoto is Panama City based
client, dealing in Electronic equipments, like television, tape recorders,
digital camera etc. The architecture of the firm is that it has one main
location from where all the main functionalities are processed and at the same
time it has many outlets which are responsible for the sale of the products as
well as their maintenance/repair in their particular locations.
3C’s – Competent Films
Private Limited 3C'S complex (Competent Cine Court) at Lajpat Nagar,
the newly built complete entertainment center, conceptualized by Shri Raj
Chopra, has plushest movie auditorium with the state-of-the-art technology of
325 seats and a food court of six international specialty restaurants at the
same venue. A beautiful green courtyard with aesthetically crafted Italian
furniture and blue lights gives the place a pleasing impact. A huge plasma
screen adjoining majestic waterfall and fountains will entertain another
100-180 people, who can enjoy the ambience with a DJ entertaining in the party
zone.
The Food Court: The six international specialty
restaurants providing a variety of mouth-watering cuisine represented by....
McDonalds
Chopsticks Express
Tikka-A-Wrap (London)
Dosa Express (Srilanka)
Diva Café
Barista
Out of the above six mentioned specialty restaurants Tikka-A-Wrap,
Dosa Express and Diva Café run on their POS (Point of Sale) solution.
The client wanted a user
friendly, easy to use, website development tool to design the website
“www.islampanama.org”. They were looking for the tool to change the layout of
the website, publish the latest news and events, reminders and notification for
namaz timing and festivals on mobile phone and in mails with multi-lingual support
system.
Milano International S.A. is a trading house
that addresses the personal care products trading sector. The company is
engaged in both wholesale and retail operations across many countries. They
have provided Milano with full fledged sales ERP. This application is used to
manage both the retail and wholesale operations. The application includes the
main ERP engine supported by a wide variety of web-based, desktop based and
handheld device based POS terminals. The application is also equipped with a
powerful dashbaord and data mining capability.
Their Team comprises of young and enterprising
talent from various areas of IT who have a rich set of experience in
Object-oriented Programming, Application Programming , System Programming
,Database Applications, etc and have expertise in latest technologies like WAP,
XML, EJB, etc.
Their Team consists of diligent and experienced young
people, who are experts in their fields and are dedicated to provide you the
latest in technology.
Core Team
Their Core Team is headed by a set of energetic and dynamic
leaders who can tackle any situation with ease. Their creative minds are
constantly working for you to design the dreams and make the presence global.
The promoters of the company are hardcore professionals in the areas of
management, programming, design and contents, who have spent valuable years in
the industry as achievers. And this explain why the customers comes to their
organization.
GOVERNANCE
Mann-India has smart governance
mechanisms that keep IT and the businessjointly accountable and responsible for
linking technology to the most important strategies.
Governance is driven through executive steering committees, and
architecture or business process teams.
To be effective, the mechanisms are linked and are consistent with the
company’s prevailing business strategy. Find out more from Mann-India about
making governance work.
PRODUCT
They have made sure that their product line is the
best. In order to do so they have developed over the years critical solutions,
in addition to tying up with some leading companies to ensure that they are
able to gain adequate experience and flexibility in their products.
Mann provide state of the art solutions for the retail sector.
Since retail supply chains have become progressively global, their endeavor has
been to transform that quality to their products, thus making them flexible and
sturdy. They are managing expanding inventories, distribution and supply
channels and provide high end reporting.
They have a huge cost benefit in addition to having a
Spanish user interface, specifically for the Latin American Market. Their
products in the Banking and Financial sector have been developed with strong
partners and value added components such as mobile banking have been their high
point in the recent years. They have partnered in their implementations in the
Oil and Gas segment giving them a leading edge in this sector.
PARTNERS
Mann-India & HP have jointed hands to provide open
source technology solutions to the Latin American world. Corporate It is their
endeavour to provide products, services and solutions of the highest quality
and deliver more value to their customers that earns their respect and loyalty.
Mann-India has joined hands with Sun to consolidate Sun's
vision of "Everyone and everything participating on the network"
means that when people are networked, they share, they interact, and solve
problems. Sun has brought together the world's brightest technical minds to
solve the world's biggest technical problems.
Mann-India has tied up with
Megasoft Xius to bring their Infinet family of telecom products to Latin
America. XIUS is a leading global provider of highly specialized OSS solutions
to Wireless and Wireline Operators, MVNOs, ISPs and other Network Service
Providers. XIUS has demonstrated its deep OSS expertise in a variety of
environments, while providing advanced signaling, real-time rating and service
control solutions to operators worldwide.
Mann-India & Corporater's
mission is to provide their customers an innovative performance management
solution that helps them measure and manage performance across all areas of
their organization, resulting in more effective decision-making. They exclusively
provide state of the art performance management solutions that are module-based
and do not require extensive consultancy hours. Each implementation is
configured to meet their customers' unique needs.
Mann-india has tied up with
C-sam , a globally renowned innovator in mobile platform oriented solutions
delivery. C-SAM's branded and secure Mobile Transaction Platform brings
together a variety of financial and non-financial transaction solutions on a
single platform. Their patented technologies create a suite of secure web-based
services that enables users to execute transactions in the real as well virtual
worlds using mobile phones and PCs.
Celpgao provides the fastest and
most secure way to transfer cash real time from the mobile phones. They provide
same-day payments and virtually instant cash transfers. You pay no charges for
transfers to and from Merchants. Celpgao is an real time money transfer
service. Opening a Celpgao account is like using an online wallet that you can
access on the cell phone as if you were on the P.C. You can deposit, withdraw,
and transfer funds to any of the friends, relatives or merchants that support
Celpgao Online Payments.
Directorate General of Hydrocarbons, a Government of India
body to promote the sound management of the Indian Petroleum and Natural Gas
resources having a balanced regard for the environment, safety, technological
and economic aspects of the upstream petroleum activity.
Grupo Archicentro is a multinational organization
involved in development of products for Document Management and Information
Management domain. They have 22 years of expertise in the area of
digitalization, archival, storage and administration of digitalized assets.
With a client base of 60,000 large and small enterprises including
multinational banks, insurance companies, government organization and many
more.
Mindmill software is the reliable partner for software
development outsourcing and software project outsourcing. With a state of the
art development center in India manned by highly qualified executives, they can
commit to delivering the software development project in the agreed time
schedule. They are a dedicated Indian onsite software development company,
providing offshore software development.
AXIS - IT&T is a leading Engineering Design and other
Business Process Outsourcing (BPO) services provider, with over a decade's
experience in delivering cutting-edge customer services to global clients. AXIS
- IT&T provides comprehensive Engineering Design, Software Development
& Back office services to its clients. AXIS - IT&T is a publicly traded
company and its shares are traded on the Bombay and National Stock Exchanges in
India. AXIS - IT&T has also been ranked by Business Today Magazine as one
of India's Top 500 Companies.
Megasoft
is a part of the iLabs group. Megasoft is a publicly traded company listed in
the Bombay stock exchange (BSE) with major funds including Carlson (Sweden),
Prudential, HDFC, and others holding greater than 20% of the company’s
outstanding equity base. Its divisions include VisualSoft technologies, Xius
and Megasoft IT consulting services.
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.39.57 |
|
UK Pound |
1 |
Rs.78.93 |
|
Euro |
1 |
Rs.56.85 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
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 |
|