MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
FEEDING
COMPANY LIMITED |
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Registered Office : |
No.218/4, national road No.1A, Tan Hiep ward, Bien Hoa city,
Dong Nai province |
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Country : |
Vietnam |
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Financials (as on) : |
2005 |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
4702000708 |
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Legal Form : |
Limited
liability company |
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Line of Business : |
Trading and Supplying Additives for
Animal Feed. |
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 : |
Regular |
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Litigation : |
Clear |
SUBJECT IDENTIFICATION &
LEGAL FORM
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English Name |
FEEDING COMPANY LIMITED |
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Vietnamese
name |
CONG TY TNHH DINH
DUONG CHAN NUOI LIEN QUOC |
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Trade
Name |
FEEDING CO., LTD |
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Abbreviated
name |
FEED-ING |
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Founded |
2003 |
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Type
of Business |
Limited
liability company |
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Current
business registration |
No.4702000708 |
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Issued
on |
August
21st, 2003 |
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Issued
by |
Planning
and Investment Department of Dong Nai province |
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Former
business registration |
No.
4902000553 |
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Registered
Capital |
100,000,000
VND |
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Tax
code |
3600650661 |
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Total
Employees |
13
persons |
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Qualification |
Average |
ADDRESSES
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Head Office and transaction address: |
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Address |
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No. 238, National Road 1A, Tan Hiep Ward, Bien Hoa City, Dong
Nai Province |
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Country |
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Vietnam |
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Tel |
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(84-613) 881 489, 884 854 |
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Fax |
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(84-613) 884 304 |
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Note: This address is also the head
office of Nutriway Vietnam company (a company specializing in processing and
supplying additives for animal feed). The subject uses the same office, the
same contact lines with Nutriway Vietnam. |
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Registered address |
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Address |
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No.218/4, national road No.1A, Tan Hiep ward, Bien Hoa city,
Dong Nai province |
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Country |
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Vietnam |
DIRECTORS
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1. NAME |
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Mr. NGO QUANG DAT |
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Position |
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Director |
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Qualification |
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Management |
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ID. No |
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020141023 |
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Resident |
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No.132 Nguyen Thuong Hien Str, Ward 1, Go Vap Dist, Hochiminh
City |
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Nationality |
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Vietnamese |
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Cell phone |
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++84 913851554 |
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Note: Mr. Ngo Quang Dat now is also
working for Nutriway Vietnam. |
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BUSINESS NATURE AND ACTIVITIES
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The subject focuses on trading and supplying additives for
animal feed. |
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Registered trading items: Trading in materials for producing animal feed, additives,
equipments and machineries for feeding fields. Feeding consultant Trading in veterinary medicines, chemicals, materials and
machines for producing veterinary medicines Trading in pesticides |
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IMPORT & EXPORT ACTIVITIES
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IMPORT: The subject imports material
and additives from some countries according to orders. |
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EXPORT: N/A |
BANKERS
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1. NATETIS BANK |
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Address |
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No. 11, Me Linh Square, Dist No.1, Hochiminh City, Vietnam |
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Tel |
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(84-8) 8222830 |
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Fax |
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(84-8) 8299128 |
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2. VIETNAM BANK FOR FOREIGN TRADE
(VIETCOMBANK)- DONG NAI BRANCH |
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Address |
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No. 77C, Hung Dao Vuong Str., Bien Hoa City, Dong Nai Province,
Vietnam |
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Tel |
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(84-61) 822539/ 823666/ 824739 |
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Fax |
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(84-61) 824191 |
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Swift |
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BFTVVNVX 012 |
SHAREHOLDER
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The subject is a Limited liability company. Following are its
shareholders: |
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1. NAME |
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Mr. NGO QUANG DAT |
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Position |
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Director |
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Qualification |
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Management |
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ID. No |
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020141023 |
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Resident |
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No.132 Nguyen Thuong Hien Str, Ward 1, Go Vap Dist, Hochiminh
City |
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Nationality |
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Vietnamese |
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Cell phone |
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++84 913851554 |
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Share |
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90% |
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Value |
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90,000,000 VND |
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2. NAME |
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Mr. PHAN THANH HOA |
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Position |
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Shareholder |
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Resident |
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Village 6, Tan Thuan Commune, Ham Tan Dist, Binh Thuan Province |
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Nationality |
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Vietnamese |
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Share |
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9% |
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Value |
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9,000,000 VND |
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3. NAME |
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Mrs. LUONG THI MY LINH |
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Position |
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Shareholder |
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Resident |
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Village 6, Tan Thuan Commune, Ham Tan Dist, Binh Thuan province |
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Nationality |
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Vietnamese |
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Shares |
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1% |
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Value |
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1,000,000 VND |
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PAYMENT HISTORY AND EXPERIENCES
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Trade Morality |
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Normal |
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Liquidity |
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N/A |
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Previous Payments |
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N/A |
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Current Payment Status |
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Normal |
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Past Financial Situation |
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N/A |
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Current Financial Situation |
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Normal |
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Illegal action |
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Recorded |
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Bankruptcy |
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No recorded |
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Reputation |
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Low |
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Modes of payment |
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L/C, T/T |
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Note: On
November 20th 2006, the subject was made a report of violating the
procedures of Customs when it imported 6,000 kg additives (Selenite Sodium
2.25%) without license from Customs. The value of this was 361,215,000 VND. |
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FINANCIAL DATA
The full financial statement of the
subject is not available. Following is its highlight:
Unit: VND Million
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Description |
2005 |
2004 |
2003 |
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A. Working assets & short-term
Investment |
5,653 |
9,087 |
5,207 |
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B. Fixed assets & long term
investment |
211 |
0 |
0 |
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TOTAL ASSETS |
5,864 |
9,087 |
50207 |
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A. Payable loans |
4,641 |
8,825 |
5,106 |
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B. Owner’s Equity |
1,223 |
262 |
101 |
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TOTAL LIABILITY AND EQUITY |
5,864 |
9,087 |
5,207 |
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Description |
FY 2005 |
FY 2004 |
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Total revenue |
49,266 |
25,611 |
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Deductions Items |
83 |
438 |
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Net revenue |
49,183 |
25,173 |
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Net income from business activities |
1,336 |
625 |
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Net income from financial operation |
-1 |
0 |
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Irregular Profit |
0 |
0 |
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Total pre-tax profit |
1,335 |
625 |
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INTERPRETATION ON THE SCORES:
Feeding Co is a Limited Liability Company. It was founded at the
end of 2003 with the registered capital of 100 million VND. After 1 year, in
2004, the subject was officially operated. The subject is now under the
management of Mr. Ngo Quang Dat.
The subject focuses on trading and
providing additives for animal feed. The subject sings contracts with foreign
partners to distribute their products in Vietnam market. At the same location,
there is also a company named Nutriway Vietnam Co., Ltd. The subject shares the
same address, the same contact lines with Nutriway Vietnam. At the moment, the
subject is operating unclearly. Nobody knows about Feeding Company. They only
know about Nutriway Vietnam. The
subject is considered as a part of Nutriway Vietnam Co., Ltd.
Nutriway Vietnam is a 100% foreign invested company, which was
established in 1996. Its former investor is Nutriway S.A, which owned by Mr.
Frederic Salle (France). However, from June 2004, it was transferred to Provimi
group of Netherlands, an animal nutrition company.
Feeding Company was founded basing on operation of Nutriway
Vietnam. It is operating normally. Mr. Ngo Quang Dat is running business with
the supports of Nutriway Vietnam. At the moment, the subject has total
employees of about more than 10 persons. The number of employee is depended on
each contract. Capital of the subject is small. According to Mr. Ngo Quang Dat,
the subject has no plan to increase its capital. He even wants to decrease its
capital.
The premises and facility of the subject are normal. Its business
scale is still small. The market share of the subject in the market is not
remarkable. At this moment, the trademark of the subject in the market is not
famous. The subject has not built a good position in the industry. Its
management capacity is normal. Mr. Ngo Quang Dat, director is now working for
Nutriway Vietnam.
In short, the subject is now operating normally. Feeding industry
currently is very hard competition, so the subject should try more. In
comparison with other entities in the same industry, the subject is ranked at
small. The subject may face with difficulties in the future. The financial
situation of the subject is not available. But according to our views, its
finance base is normal. So, caution needed when transactions with the subject.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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