MIRA
INFORM REPORT
|
Report Date : |
10.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SATISH DHAWAN SPACE CENTRE – DIVISION OF ISRO |
|
|
|
|
Registered Office : |
Airport Road, Vimanpura P. O., Bangalore – 560 017,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRI01432E |
|
|
|
|
Legal Form : |
Part
of Department of Space, Government of India |
|
|
|
|
Line of Business : |
Research Centre |
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 : |
|
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Satish Dhawan Space Centre, a unit of Indian Space Research
Organisation is under the control and management of Department of Space. It is
an Independent Centre. Due to the nature of its’ operations, no detail
financial and other information can be available from any sources. However, as it is a wholly owned department of Government of
India, it can be considered good for any normal business dealings. |
LOCATIONS
|
Registered Office / Personal & General Administration : |
Airport Road, Vimanpura P. O., Bangalore – 560 017,
Karnataka, INDIA |
||||||
|
Tel.
No.: |
91-80-2508 4101 |
||||||
|
Fax
No.: |
91-80-2508 4102 |
||||||
|
E-Mail
: |
|||||||
|
Website : |
|||||||
|
|
|
||||||
|
Human Resources : |
|
||||||
|
|
|
||||||
|
Web Administrator |
BUSINESS DETAILS
|
Line of Business : |
Research Centre |
FINANCIAL DATA
[all figures are in Rupees
Millions]
No financials are available from any sources.
LOCAL AGENCY
FURTHER INFORMATION
ISRO Satellite Centre (ISAC) is the lead centre for Satellite Building and Development of state of art Technologies. About 2500 personnel work in ISAC, majority of whom are highly qualified Engineers and Technicians. The Centre has a flexible matrix organization structure striving to ensure best possible use of expertise and resources. It is organized in to core functional R & D Groups and Project Groups supported by specialised fabrication and Testing facilities.
Five functional areas
(MSA,CMA,DCA,IPA,RCA), FACILITIES, two independent groups (PPEG,CIG), Three
Programme Management offices for spacecraft projects namely GEOSAT,
IRS&SMALL SATELLITES, ASTROSAT and an independent Division (SAID) for space
science research presently constitute the core of the Organisation. The
functional Areas and Projects report to Director of the Centre Dr. K. N.
Shankara. The functional groups are supported by the Administrative &
auxiliary Divisions headed by Controller.
The Laboratory for Electro-Optic
Systems (LEOS), working under the overall umbrella of ISAC, carries out
research and development in the field of electro optic sensors and supplies
systems required for satellites.
ISRO Satellite Centre (ISAC), is the
lead Centre for realization of the state of the art spacecraft, in the
application domain of Communication, Television, Remote Sensing, Meteorology,
Space Science, Interplanetary Explorations etc.
Over the years, ISAC has executed
several satellite projects representing broad spectrum of satellite
technologies. Beginning with the Scientific and application experiments, these
have culminated in to operational space systems. This Centre has leap frogged
in to new generation advanced versions of satellites such as Microwave Remote
Sensing, Direct Broadcasting Satellites, Interplanetary probes etc.
ISAC realised major programmes in
the above areas and witnessed the successful launch of INSAT-3A, INSAT-3E,
GSAT–2, IRS-P6 and GSAT-3 in the year 2003. Development efforts are underway in
the arena of advanced remote sensing & Communication, Space science
explorations, Lunar Mission and other operational services and spacecraft in
these areas are planned to be realized in the coming years.
The Government of India set up the Space Commission &
Department of Space (DOS) in 1972 to promote the development & application
of space technology & space science for the socio-economic benefit of the
nation. ISRO, with its headquarters also in Bangalore has the following
Centres/Units :
v
Vikram Sarabhai Space Centre [VSSC], Thiruvananthapuram,
specialising in Launch Vehicle Technology
v
ISRO Satellite Centre [ISAC], Bangalore, specialising in Satellite
Technology
v
Space Application Centre [SAC], Ahmedabad, specialising in Space
Application Technology
v
SHARE Centre, Sriharikota (Andhra Pradesh) with facilities for
supporting ISRO launch missions
v
Liquid Population Systems Centre [LPSC] with its facilities at
Bangalore, Thiruvananthapuram & Mahendragiri, specialising in the
Development of Liquid Propulsion Systems for Satellite & Launch Vehicles
v
Development & Education Communication Unit [DECU], Ahmedabad
conducting research in Space Application Programmes and their Socio-Economic
Evaluation
v
ISRO Telemetry, Tracking & Command Network [ISTRAC] with its
stations at Bangalore, Lucknow, Sriharikota, Car Nicobar & Mauritius
providing telemetry tracking and command support to satellite and launch
vehicle missions
v
ISRO Inertial Systems Unit [IISU], Thiruvananthapuram,
specialising in the development of interical components & systems for
satellites and launch vehicles
v Master Control
Facility [MCF] at Hassan in Karnataka is responsible for the operations of INS
FACILITIES
As part of the spacecraft programmes ,ISAC has established extensive facilities specific to design, fabrication, assembly and functional/environmental testing of space segment hardware, at component, subsystem and system level to meet the stringent performance specifications of such hardware at intended quality and reliability levels.
Facilities at ISAC provide for
spacecraft system level design, assembly, integration & testing as well as
development of structure, thermal, mechanism, electronics, Controls and electro-optical
subsystems.
Association with Industry
As a matter of policy , ISAC has been utilising the industrial infrastructure to a maximum extent. The structure fabrication for all the satellite projects have been provided by M/s Hindustan Aeronautics Limited. The electronic fabrication support like PCBs, electronic packages , microelectronic packaging and specialised ground equipment have been provided by M/s. Bharath Electronics Limited (BEL ), M/s Indian Telephone Industry ( ITI ) and M/s Hindustan Aeronautics Limited (HAL ), Hyderabad . Various Research Laboratories like National Aerospace Laboratory (NAL ), Indian Institute of Astrophysics ( IIAP ) and educational institutions like , Indian Institutes of Technology (IITs), Indian Universities and a number of other public sector and private sector industries have been participating in the space program by providing various services in specialised areas and technical consultancies . Indegenisation of space components / materials and promotional efforts to encourage private industries to under take development and production activities are continually pursued.
Technology
Transfer.
As a part of the ISRO
Technology Transfer Program , a number of technologies developed at ISAC
have been transferred to both public and private sector industries for
commercial exploitation. These include : Technologies for
v
The Vertical
Dynamic Balancing Machine
v
The
Spectroradiometer
v
The Variable
Angle of Incidence (VAI ) Spectrometer
v
The
Agrophotometer
v
The Thin Film
Coating Process
v
The Optical Solar
Reflectors (OSR )
v
The Thermal
Passive Cooler
v
The QPSK
modulator
v
The Coilable
Lattice Boom
The L&C Band Wide Beam Antenna have bagged the National Invention
Promotion Awards
Under the ISRO Technical Consultancy Services scheme, ISAC has been providing its expertise to Indian Industries and R&D institutions in a wide range of technological and engineering disciplines. A broad spectrum of the following consultancy services have been completed by ISAC.
v
EMI testing of
equipment.
v
Vibration testing
of complex systems for engineering & aerospace applications.
v
Evaluation of
high vacuum coating plant for production of optical and electronic components.
v
Torsional
pendulum systems to determine the shear modules of polymers .
v
Testing of
terrestrial solar panels.
v
Development of
Hygrophotometer for instantaneous measurement of water content in tea leaves
processing.
v
Finite Element
Analysis of shock absorbers for automobile
Goals
There are some who question the relevance of space activities in a developing nation. To us, there is no ambiguity of purpose. They do not have the fantasy of competing with the economically advanced nations in the exploration of the moon or the planets or manned space-flight. But they are convinced that if they are to play a meaningful role nationally, and in the community of nations, they must be second to none in the application of advanced technologies to the real problems of man and society.
The primary objective of ISAC is to develop and operationalise
indigenous satellites and use space technology for socio-economic development
of the country.
Satish Dhawan Space
Centre, SHAR
- Main launch centre of ISRO, 100 km north of
Chennai.
- Processes solid propellant motors and
conducts ground tests.
- Launch ranges at Thumba also for sounding
rockets.
- Achievements include establishment of
launch complexes for Sounding rockets, SLV- 3, ASLV and PSLV. Launch
complex augmented for GSLV.
ISRO
Indian space programme driven by vision of Dr Vikram Sarabhai considered as the father of Indian Space Programme.
"There are some who question the relevance of space activities in a developing nation. To us, there is no ambiguity of purpose. Company does not have the fantasy of competing with the economically advanced nations in the exploration of the moon or the planets or manned space-flight. But company is convinced that if company is to play a meaningful role nationally, and in the community of nations, company must be second to none in the application of advanced technologies to the real problems of man and society. "
- Government of India set up Space Commission and Department of Space (DOS) in June 1972. Indian Space Research Organisation (ISRO) under DOS executes Space programme through its establishments located in different places in India.
- Main objective of space programme includes development of satellites, launch vehicles, Sounding Rockets and associated ground systems.
- Crossed several major milestones.
- Experimental phase included Satellite Instructional Television Experiment (SITE), Satellite Telcommunication Experiment (STEP), remote sensing application projects, satellites like Aryabhata, Bhaskara, Rohini and APPLE and launch vehicles, SLV-3 and ASLV.
- Present operational space systems include Indian National Satellite (INSAT) for tele-communication, television broadcasting, meteorology and disaster warning and Indian Remote Sensing Satellite (IRS) for resources monitoring and management.
- Polar Satellite Launch Vehicle (PSLV) used for launching IRS Satellites and Geosynchronous Satellite Launch Vehicle (GSLV), intended for launching INSAT class of satellites.
- Space Science activities include SROSS and IRS-P3 satellites, participation in international science campaigns and ground systems like MST Radar.
- ISRO's co-operative arrangements cover several countries and space agencies.
- ISRO provides training in space field to personnel from other countries.
- ISRO's hardware and services available commercially through Antrix Corporation.
Email : info@isro.org
OR
Director - Publications & Public Relations
Antariksh Bhavan
New BEL Road, Bangalore 560 094, INDIA
Phone: +91- 80-341 5275 & 341 5474
Fax: +91-80-341 2253
Programmes
Indian National Satellite System (INSAT)
·
Established
in 1983 with commissioning of INSAT-1B.
·
A
joint venture of Department of Space (DOS), Department of Telecommunications,
India Meteorological Department, All India Radio and Doordarshan. DOS
responsible for establishment and operation of INSAT space segment.
·
INSAT
space segment at present consists of INSAT-1D, last of the INSAT-1 series
launched in 1990 and three ISRO-built satellites, INSAT-2A
launched in July 1992, INSAT-2B launched in July 1993 and INSAT-2C
launched on December 7, 1995.
- INSAT-2DT acquired from ARABSAT.
·
INSAT-2E
launched on April 3,1999.
·
ISRO
has leased eleven 36 MHz equivalent units of C-band capacity on board INSAT-2E
to INTELSAT organisation
·
INSAT-3B
launched on March 22nd 2000.
·
INSAT-3C
launched on January 24th 2002.
·
INSAT-3A
launched on April 10th 2003.
·
INSAT-3E
launched on September 28th 2003.
Indian Remote Sensing Satellite (IRS) System
·
Commissioned
with the launch of IRS-1A in March 1988
·
IRS
system under National Natural Resources Management System (NNRMS) coordinated
at national level by the Planning Committee of NNRMS (PC-NNRMS).
·
At
present has four satellites, IRS-1B launched in August 1991, IRS-1C launched in
December 1995 and IRS-1D launched on September 29,1997.
·
IRS-P3
and IRS-1D launched by India's Polar Satellite Launch Vehicle (PSLV).
·
OCEANSAT-1
with an Ocean Colour Monitor (OCM) and a Multi-frequency Scanning Microwave
Radiometer (MSMR) launched by PSLV-C2.
·
RESOURCESAT-1
for agricultural applications launched by PSLV-C5.
·
CARTOSAT-1
with a Very High Resolution Panchromatic camera for cartographic applications
launched by PSLV-C6
·
Data
from IRS satellites received and processed by the National Remote
Sensing Agency, Hyderabad.
·
SI a
US Company also receives and markets IRS data worldwide under a commercial
contract with Antrix
Corporation of the Department of Space.
Stretched Rohini Satellite Series (SROSS)
·
113 kg
SROSS-C2 satellite, launched by ASLV-D4 on May 4, 1994 carries two scientific
payloads, a Gamma-Ray Burst (GRB) experiment and a Retarding Potential Analyser
(RPA). A similar satellite, SROSS-C had been launched by ASLV-D3 in May 1992.
SROSS-C2 is in service.
Polar Satellite Launch Vehicle (PSLV)
·
Developmental
flights completed with successful third developmental launch in March
1996.
·
Now
available for launching 1,000-1,200 kg class of remote sensing satellites into
polar sun-synchronous orbit. IRS-1D launched on September 29,1997.
·
IRS-P4(OCEANSAT)
and two small satellites (KITSAT of Korea and TUBSAT of Germany) launched on on
May 26,1999 by PSLV-C2.
·
PSLV-C3
launched three satellites -- Technology Experiment Satellite (TES) of ISRO,
BIRD of Germany and PROBA of Belgium - into their intended orbits on October
22, 2001.
·
ISRO's
Polar Satellite Launch Vehicle, PSLV-C4 launched KALPANA-1 satellite on
September 12, 2002.
·
ISRO's
Polar Satellite Launch Vehicle, PSLV-C5 launched RESOURCESAT-1
(IRS-P6) satellite on October 17, 2003.
·
ISRO's
Polar Satellite Launch Vehicle, PSLV-C6 launched CARTOSAT-1
and HAMSAT
satellites on May 5, 2005.
Geosynchronous Satellite Launch Vehicle (GSLV)
·
For
launching 2,000 kg class of communication satellites into geosynchronous
transfer orbit.
·
A
three stage vehicle; first stage is a 129 tonne solid propellant core motor
with four liquid propellant strap-ons with 40 tonne propellant each, second
stage is a liquid propulsion system with 37.5 tonne propellant and a cryogenic
upper stage with 12 tonne of liquid oxygen and liquid hydrogen.
·
First
developmental flight GSLV-D1 completed with successful launch on
April 18, 2001.
·
Second
developmental flight GSLV-D2 launched GSAT-2 satellite on May 8, 2003.
·
First
operational flight of GSLV (GSLV-F01) and the third in the GSLV
series launched EDUSAT satellite on September 20, 2004.
Milestones
|
2005 |
Successful launch of INSAT-4A by Ariane from Kourou French Guyana,
(December 22, 2005). ISRO's Polar Satellite Launch Vehicle, PSLV-C6,
successfully launched CARTOSAT-1 and HAMSAT satellites from Sriharikota(May
5, 2005). |
|
2004 |
The first operational flight of GSLV (GSLV-F01) successfully launched
EDUSAT from SDSC SHAR, Sriharikota (September 20, 2004) |
|
2003 |
ISRO's Polar Satellite Launch Vehicle, PSLV-C5, successfully launched
RESOURCESAT-1 (IRS-P6) satellite from Sriharikota(October 17, 2003). Successful launch of INSAT-3E by Ariane from
Kourou French Guyana, (September 28, 2003). The Second developmental launch of GSLV-D2
with GSAT-2 on board from Sriharikota (May 8, 2003). Successful launch of INSAT-3A by Ariane from
Kourou French Guyana, (April 10, 2003). |
|
2002 |
ISRO's Polar Satellite Launch Vehicle, PSLV-C4, successfully launched
KALPANA-1 satellite from Sriharikota(September 12, 2002). Successful launch of INSAT-3C by Ariane from
Kourou French Guyana, (January 24, 2002). |
|
2001 |
ISRO's Polar Satellite Launch Vehicle, PSLV-C3, successfully launched three
satellites -- Technology Experiment Satellite (TES) of ISRO, BIRD of Germany
and PROBA of Belgium - into their intended orbits (October 22, 2001). The first developmental launch of GSLV-D1 with
GSAT-1 on board from Sriharikota (April 18, 2001) |
|
2000 |
INSAT-3B, the first satellite in the third
generation INSAT-3 series, launched by Ariane from Kourou French Guyana, |
|
1999 |
Indian Remote Sensing Satellite, IRS-P4 (OCEANSAT), launched by Polar Satellite
Launch Vehicle (PSLV-C2) along with Korean KITSAT-3 and German DLR-TUBSAT
from Sriharikota INSAT-2E, the last satellite in the
multipurpose INSAT-2 series, launched by Ariane from Kourou French Guyana,
(April 3, 1999). |
|
1998 |
INSAT system capacity augmented with the
readiness of INSAT-2DT acquired from ARABSAT (January 1998). |
|
1997 |
INSAT-2D, fourth satellite in the INSAT series, launched (June 4,
1997). Becomes inoperable on October 4, 1997. First operational launch of PSLV with IRS-1D
on board |
|
1996 |
Third developmental launch
of PSLV with IRS-P3 on board (March 21, 1996). Satellite
placed in polar sunsynchronous orbit. |
|
1995 |
Launch of third operational Indian Remote Sensing Satellite, IRS-1C
(December 28, 1995). INSAT-2C, the third satellite in the INSAT-2 series,
launched (December 7, 1995). |
|
1994 |
Second developmental launch of PSLV with IRS-P2 on board
(October 15, 1994). Satellite successfully placed in polar
sunsynchronous orbit. Fourth developmental launch
of ASLV with SROSS-C2 on board (May 4, 1994). Satellite placed in
orbit. |
|
1993 |
First developmental launch of PSLV with IRS-1E on board
(September 20, 1993). Satellite could not be placed in orbit. INSAT-2B, the second satellite in the INSAT-2
series, launched (July 23, 1993). |
|
1992 |
INSAT-2A, the first satellite of
the indigenously-built second-generation INSAT series, launched
(July 10, 1992). Third developmental launch
of ASLV with SROSS-C on board (May 20, 1992). Satellite
placed in orbit. |
|
1991 |
Second operational Remote Sensing satellite,
IRS-1B, launched (August 29, 1991). |
|
1990 |
INSAT-1D launched (June 12, 1990). |
|
1988 |
INSAT-1C launched (July 21, 1988). Abandoned in November 1989. Second developmental launch of
ASLV with SROSS-2 on board (July 13, 1988). Satellite could not be
placed in orbit. Launch of first operational Indian Remote
Sensing Satellite, IRS-1A (March 17, 1988). |
|
1987 |
First developmental launch of ASLV with
SROSS-1 satellite on board (March 24, 1987). Satellite could not be placed in
orbit. |
|
1984 |
Indo-Soviet manned space mission (April 1984). |
|
1983 |
INSAT-1B, launched (August 30, 1983). Second developmental launch of SLV-3. RS-D2
placed in orbit (April 17, 1983). |
|
1982 |
INSAT-1A launched (April 10, 1982). |
|
1981 |
Bhaskara-II launched (November 20, 1981). APPLE, an experimental
geo-stationary communication satellite successfully launched (June 19,
1981). RS-D1 placed in orbit (May 31, 1981) First developmental launch of SLV-3. |
|
1980 |
Second Experimental launch of SLV-3, Rohini
satellite successfully placed in orbit. (July 18, 1980). |
|
1979 |
First Experimental launch of SLV-3 with Rohini Technology
Payload on board (August 10, 1979). Satellite could not be placed in
orbit. Bhaskara-I, an experimental satellite for
earth observations, launched (June 7, 1979). |
|
1977 |
Satellite Telecommunication Experiments
Project (STEP) carried out. |
|
1975-1976 |
Satellite Instructional Television Experiment
(SITE) conducted. |
|
1975 |
ISRO First Indian Satellite, Aryabhata,
launched (April 19, 1975). Becomes Government Organisation (April 1,
1975). |
|
1972-1976 |
Air-borne remote sensing experiments. |
|
1972 |
Space Commission and Department of Space set
up |
|
1969 |
Indian Space Research Organisation (ISRO)
formed under Department of Atomic Energy (August 15, 1969). |
|
1968 |
TERLS dedicated to the United Nations
(February 2, 1968). |
|
1967 |
Satellite Telecommunication Earth Station set
up at Ahmedabad. |
|
1965 |
Space Science & Technology Centre (SSTC)
established in Thumba. |
|
1963 |
First sounding rocket launched from TERLS |
|
1962 |
Indian National Committee for
Space Research (INCOSPAR) formed by the Department of Atomic Energy and
work on establishing Thumba Equatorial Rocket Launching Station
(TERLS) started. |
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 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.44.06 |
|
UK
Pound |
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.57.46 |
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/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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|