MIRA
INFORM REPORT
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Report Date : |
08.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
IKIAN
FURNITURES PRIVATE LIMITED |
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Registered Office : |
2nd
Floor, No. 99, M. G. Road, Bangalore – 560001, Karnataka |
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Country : |
India |
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Financials (as on) : |
-- |
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Date of Incorporation : |
12.09.2005 |
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Com. Reg. No.: |
08-32113 |
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CIN No.: [Company
Identification No.] |
U36109KA2003PTC032113 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRI01624A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To
carry on business as manufacturers, producers, repairers, cleaners,
assemblers, importers, exporters, traders, buyers, sellers, suppliers,
indenters, packers, movers, preservers, stockists, agents, merchants,
distributors, consignors, jobbers brokers or otherwise deal in all kinds of
household and commercial furniture’s and upholsterers made from wood, brass,
fiber glass, plastics or any other alloys handicrafts, carpets, rugs and
other floor coverings, household utensils, glass goods, curtains, blinds and
other home furnishing. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
New
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
Subject
is a new company and in the process of establishing itself. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. No payment are available. The
company can be considered for small business dealings with slight caution,
initially. |
LOCATIONS
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Registered Office : |
2nd
Floor, No. 99, M. G. Road, Bangalore – 560001, Karnataka, India |
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Tel. No.: |
91-80-41122215 |
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Fax No.: |
91-80-26560419 |
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E-Mail : |
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Website : |
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Corporate
Office : |
269/35, 10th Main Road, II Block,
Jayanagar, Bangalore - 560 011 |
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Tel.
No.: |
91-80-26571912/13 |
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Fax
No.: |
91-80-26560419 |
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E-Mail
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Branches
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Bangalore II floor, Above Bombay Store, 99 M.G. Road, Bangalore 560 001 Fax No. : 91-80-5112 2217 Email: bangalore@kianindia.com Mumbai S-113, I Floor, Nirmal Lifestyle Limited, Opposite Nirmal Nagar,
LBS Marg, Mulund (West), Mumbai 400 08, Maharashtra, India Tel No.: 91-22-2590 0425/26/27 Fax No.: 91-22-2593 0373 Email: mumbai@kianindia.com Chennai New Decor Towers 71, R.K. Salai, Mylapore,Chennai 600 004 Fax No.: 91-44-2811 7771 Email: chennai@kianindia.com Hyderabad 195, Akarshan Banjara, 303, Avenue 7, Road 3, Banjara Hills,
Hyderabad Mobile No. : 91-98663 34500 Email: mukesh@kianindia.com Pune 001, B3, Silver Oak, Kalyani Nagar, Pune 411 014, Maharashtra,
India Tel No.: 91-20-2703 3574 Mobile No. : 91-98228 72761 Email : binod@kianindia.com |
DIRECTORS
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Name : |
Ms.
Namrata Dugar |
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Designation : |
Managing
Director |
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Address : |
Kamalalaya,
24/2 3rd Main, 8th, Block 36th Cross,
Jayanagar Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
25.12.1965 |
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Date of Appointment : |
18.06.2003 |
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Name : |
Mr.
Abhishek Dugar |
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Designation : |
Director
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Address : |
402, 4th
Floor, Sterling Sea Face Apartments, Annie Besand Road, Worli, Mumbai –
400001, Maharashtra, India |
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Date of Birth/Age : |
19.06.1982 |
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Date of Appointment : |
12.06.2006 |
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Name : |
Mr.
Ramesh Kumar Dugar |
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Designation : |
Director
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Address : |
Kamalalaya,
24/2 3rd Main, 8th, Block 36th Cross,
Jayanagar Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
03.09.1962 |
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Date of Appointment : |
01.09.2005 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Ms.
Namrata Dugar |
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7500 |
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Mr.
Abhishek Dugar |
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2500 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
To
carry on business as manufacturers, producers, repairers, cleaners,
assemblers, importers, exporters, traders, buyers, sellers, suppliers,
indenters, packers, movers, preservers, stockists, agents, merchants,
distributors, consignors, jobbers brokers or otherwise deal in all kinds of
household and commercial furniture’s and upholsterers made from wood, brass,
fiber glass, plastics or any other alloys handicrafts, carpets, rugs and
other floor coverings, household utensils, glass goods, curtains, blinds and
other home furnishing. |
GENERAL
INFORMATION
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Bankers : |
HDFC
Bank Limited HDFC
Bank House Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
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Banking Relations : |
Satisfactory
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CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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500,000 |
Equity
Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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500,000 |
Equity
Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
Not
Available as a New Company.
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
IKIAN FURNITURES PRIVATE LIMITED |
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Presented By |
IKIAN FURNITURES PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Deed
of Hypothecation |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
2.500 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All
the present and future receivables, which receivables may now or hereafter
arise from transactions of the borrower which transactions are paid for
through the use of debit or credit cards, whether Visa, Mastercard Diners
Club. American Express or otherwise [and whether arising from the use of
point of sale terminals provided by the Bank any other person or through any
other mechanism, including traditional swipe machines or otherwise] including
without limitation all receivables and
other receivables that may arise in favour of the Borrower from time to time.
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4) Gist of the terms and conditions and extent and operation of the charge. |
The
facility granted to the borrower is in the extent and operation nature of an
overdraft / term loan facility. Bank
is entitled to charge interest at such rate as may be determined by the bank.
The
charge and hypothecation shall continue to subsist till such time all the
borrowers dues have been paid in full. The borrower will a all times maintain
a sufficient value of the Receivables to provide the margins of security
required by the bank from time to time
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5) Name and Address and description of the person entitled to the charge. |
HDFC
Bank Limited HDFC
Bank House Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
Charge
includes mortgage – sec Section 124. A description of the instrument, that is
to say, whether trust deed mortgage or debentures should also be given.
Persons
entitled to the charge will include mortgage.
Amount
of rate per cent of the commission allowance or discount paid or made either
directly or indirectly by the company to any person in consideration of his
subscribing or agreeing to subscribe whether absolutely or conditionally or
procuring or agreeing to procure subscription, whether absolute or conditional
for any of the debentures includes in this return, should be given in item no.
4.
AS PER WEBSITE
KIAN is not just about furniture;
it’s about inspirational lifestyle. For the very first time in India a company
has introduced the concept of lifestyle furniture. This is evident even to
casual customers walking through the KIAN showroom; they are bound to
capture ideas for –better living!
Such are KIAN’s concepts for sacred living spaces; like the bedroom, dining
room and living rooms that, customers actually visit Kian showrooms across the
globe just to draw inspiration for a better lifestyle.
Besides residential furniture,
KIAN’s promise of total furniture
solutions is also evident in its Contract Furniture – furniture
for café, bistros , restaurants , hotels and corporate furniture. Kian has been
successful in this market because it fulfils those requirements in offering
contemporary furniture in a large variety – wood, metal and polypropylene.
Contemporary furniture excellent quality, colorful tables and chairs to pep up
the cafeteria atmosphere sturdy and practically designed furniture that can be
easily maintained, and of course, availability of furniture in a range of
designs at affordable prices are some parameters a client would consider in
this market. KIAN offers all this and more
KIAN India is led by the
entrepreneurial Nepal based Dugar
Group. KIAN India is forging its own unique path has its
own identity, linked to its mother company but independent in its drive to adapt
its high quality design to suit contemporary Indian lifestyles.
Kian furniture set up an exclusive stores in India
Kian Furniture, a $30-million Malaysian furniture
maker, has set up an exclusive stores outside Malaysia in India. Ikian Furnitures
Private Limited, HC Dugar Group Enterprise, has brought Kian to India. The H.C
Dugar Group was primarily into pharmaceuticals and the bottled water
businesses. Kian offers a one-stop-shop for all requirements in lifestyle
residential and commercial furniture. Kian’s winning edge lies in the
commitments to quality and the stability to give classic designs a contemporary
twist. Solid wood, either Teak or Compressed rubber wood with imported wood
Veneers is used for the furniture. It isn’t just upper crust houses that are
being dressed up in Kian’s designs. Corporate offices, Super-specialty
hospitals, Schools, Restaurants, Cafeterias, Bistros, are all buyers of Kian,
the world over. The cigarette butt resistant, spill and scratch resistant range
of stackable laminated tables which look like they are marble or granite top,
but are actually compressed rubber wood with laminated finishes are very
popular in cafes, world over.
A furniture buffet
CHENNAI: Malaysian
furniture company Kian has opened a showroom on Radhakrishnan Salai.
They like to describe themselves as ‘‘a furniture buffet’’ as variety is one of
their selling points. Spread across 4,000 sq ft, Kian houses residential and
contract furniture along with accessories like soft furnishings, crockery and
vases. There are two floors, one dedicated to each category.
Kian is at 42, New Decor Towers, 4th floor, Radhakrishanan Salai, Mylapore.
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.44.12 |
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UK
Pound |
1 |
Rs.87.01 |
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Euro |
1 |
Rs.57.45 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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18 |
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
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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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