%20PRIVATE%20LIMITED%2012-Jan-2007_files/image002.jpg)
MIRA
INFORM REPORT
|
Report Date : |
12.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot
No.34-36, Mafco A.P.M.C., Sector 18, Vashi, Navi Mumbai-400705, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
21.11.1978 |
|
|
|
|
Com. Reg. No.: |
11-20773 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51900MH1978PTC020773 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUM105357C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACI2563B |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Providing
Storage and warehousing services |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
40000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well-established and reputed company having satisfactory track.
Directors are reported as experienced 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
|
Registered Office : |
Plot
No.34-36, Mafco A.P.M.C., Sector 18, Vashi, Navi Mumbai-400705, Maharashtra,
India |
|
Tel. No.: |
91-22-27632325/
27888745 |
|
Fax No.: |
91-22-27633771/
2788711 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches
: |
22-24,
F-Block, 1st Floor, Silaram Building, Palton Road, Mumbai-400001,
Maharashtra, India |
|
E-Mail
: |
DIRECTORS
|
Name : |
Mr.
Mohteshim Ahmed Khan |
|
Designation : |
Chairman
cum Managing Director |
|
Address : |
18,
Thakur Niwas, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
12.10.1964 |
|
Date of Appointment : |
01.04.1989 |
|
|
|
|
Name : |
Mr.
Moazzam Ahmed Khan |
|
Designation : |
Whole
Time Director |
|
Address : |
18,
Thakur Niwas, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
03.09.1971 |
|
Date of Appointment : |
01.05.1991 |
|
|
|
|
Name : |
Mr.
Ehtesham Ahmed Khan |
|
Designation : |
Whole
Time Director |
|
Address : |
18,
Thakur Niwas, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
15.04.1966 |
|
Date of Appointment : |
05.11.1987 |
|
|
|
|
Name : |
Mr. Mukarram
Ahmed Khan |
|
Designation : |
Director |
|
Address : |
18,
Thakur Niwas, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
09.10.1976 |
|
Date of Appointment : |
05.01.1996 |
|
|
|
|
Name : |
Mr.
Mubashir Ahmed Khan |
|
Designation : |
Whole
Time Director |
|
Address : |
18,
Thakur Niwas, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
09.10.1976 |
|
Date of Appointment : |
05.01.1996 |
|
|
|
|
Name : |
Mr.
Imtiyaz Hassan Khan |
|
Designation : |
Chairman
cum Managing Director |
|
Address : |
18,
Thakur Niwas, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
16.12.1951 |
|
Date of Appointment : |
21.11.1978 |
|
Date of Ceasing : |
15.06.2002 |
|
|
|
|
Name : |
Mr.
Kaisar Hasan Khan |
|
Designation : |
Director |
|
Address : |
18,
Thakur Niwas, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
02.06.1935 |
|
Date of Appointment : |
04.12.1987 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Mohteshim Ahmed Khan |
4064 |
|
Mr. Ehtesham
Ahmed Khan |
10269 |
|
Mr.
Moazzam Ahmed Khan |
10243 |
|
Mr.
Mukarram Ahmed Khan |
11224 |
|
Mr.
Mubashir Ahmed Khan |
21200 |
|
Mr.
Shehnaz I.A. Khan |
17000 |
|
Mrs.
Shabnam Khan |
16000 |
BUSINESS DETAILS
|
Line of Business : |
Providing
Storage and warehousing services |
GENERAL
INFORMATION
|
Bankers : |
Ø The Maharashtra State Financial Corporation, Regional Office : United India Building, Sir P.M. Road, Mumbai- 400001 Ø Syndicate Bank, Homji Street, Mumbai-400023 Ø The Vysya Bank Limited, Mittal Tower, A Wing, Nariman Point, Mumbai-400021 |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Suresh
C. Maniar & Company Chartered
Accountnts |
|
Address.: |
87,
Arcadia, 195, Nariman Point, Mumbai-400021, Maharashtra, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs.100/- each |
Rs.10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
90000 |
Equity
Shares |
Rs.100/- each |
Rs.9.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
9.000 |
9.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.045 |
0.081 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
9.045 |
9.081 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.366 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.366 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.156 |
|
|
|
|
|
|
|
|
TOTAL |
|
9.045 |
9.603 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4.858 |
5.092 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
2.956 |
3.850 |
|
|
Cash & Bank Balances |
|
1.480 |
1.036 |
|
|
Other Current Assets |
|
0.227 |
0.195 |
|
|
Loans & Advances |
|
3.145 |
2.853 |
|
Total Current Assets |
|
7.808 |
7.934 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
5.075 |
7.603 |
|
|
Provisions |
|
3.499 |
2.274 |
|
Total Current Liabilities |
|
8.574 |
9.877 |
|
|
Net Current Assets |
|
(0.766) |
(1.943) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
4.953 |
6.454 |
|
|
|
|
|
|
|
|
TOTAL |
|
9.045 |
9.603 |
|
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.95 |
1.13 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
0.91 |
0.80 |
LOCAL AGENCY
FURTHER INFORMATION
Form
8 Particular for creation or modification of charges
|
Name of the company |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
Presented By |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Deed of Mortgage dated 31.10.1979 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.000 millions |
|
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 |
The first Legal Mortgage of the Company’s Mortgage of the company’s plant and machinery etc. fixed or moveable and all other similar assets to be acquired or which may be acquired in future, and installed at Plot Nos.34, 35 and 36 in the City and Industrial Development Corporation of Maharashtra Limited or in the godowns of the Borrowers or in the custody of any persons or in the course of transit including all moveable assets which may hereinafter be brought stored or be lying in or upon the said premises of the Mortgage Company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
In Consideration for the aforesaid loan the company has : Created First Legal Charge of the Company’s property (short particulars whereof are stated in the proceeding col.3) in favour of the Corporation Rs.1.200 millions paid upon execution of the Letter of Hypothecation dated 22.12.1978. The total amount of Rs.3.000 millions to be repaid by the Company in 10 years by 17 half year instalments commencing from 20.12.1980 ending 12.12.1988 The Loan to carry interest at 14.5% per annum from 15.12.1979 payable half yearly on 15th December and 15th June in each year with a provision for rebate of 2% for prompt payment. The first payment of interest to be made on 15.12.1979. In the event of default on additional interest of 2% by way of penalty will be charged in addition to the stipulated rate of interest at 14.5% The company to maintain a minimum margin of 29% between the market value of the mortgaged premises and the amount of outstanding loan. |
|
5) Name and Address and description of the person entitled to the charge. |
The Maharashtra State Financial Corporation, Regional Office : United India Building, Sir P.M. Road, Mumbai-400001 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
|
Name of the company |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
Presented By |
Syndicate
Bank, Homji Street, Mumbai-400023 |
|
1) Date and description of instrument creating the change |
Dated 14.04.1981 Equitable Mortgage by Deposit of title deeds in favour of Syndicate Bank by the Company with MSFC, the letter acting as agents and trustees to the Bank and Agreement of hypothecation of Machineries, Implements, Spares and Stores and other Movables (collectively constitute a single charge for Rs.5.000 millions) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.000 millions |
|
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 and singular the land and building hereditamants and premises situate at MARCO A.P.M. within the village limits of Turbhe District Thane being Plot Nos.34, 35 and 36 more particularly described in the First Schedule herein and also All and singular the plants and machinery the main items whereof are set out o the second schedule hereunder and also toge4ther with goodwill of the business and all other assets of the Borrowers and All the implements, machineries and accessories and all other movables including stores not included in the detailed list forming a part of Cold Storage Plant. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 15.10%p.a. Repayment : First instalment of Rs.0.338 being due on or before 14.10.1988. The mortgaged premises shall rank pari passu between MSFC and Syndicate Bank. |
|
5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank, Homji Street, Mumbai-400023 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
|
Name of the company |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
Presented By |
The
Chief Manager, The Vysya Bank Limited, Nariman Point, Mumbai-400001 |
|
1) Date and description of instrument creating the change |
Memorandum of Entry for Equitable Mortgage dated 01.03.1997 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.75.000 millions |
|
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 |
Equitable mortgage created by deposit of title deed in respect of land bearing Gate No.796, Ward no.34, 35 and 36 of Village Turbhe at MAPCO A.P.M. District, Thane, New Bombay admeasuring 5360.306 Sq.Mtrs. And the building constructed thereon. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Securities to secure credit facilities granted to I. Ahmed & Company to the extent of Rs.75.000 millions comprising of PCL Rs.40.000 millions and PSL Rs.35.000 millions together with interest, cost, expenses, charges, commission etc. |
|
5) Name and Address and description of the person entitled to the charge. |
The Vysya Bank Limited Mittal Tower, A Wing, Nariman Point Mumbai-400021 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
|
Name of the company |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
Presented By |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Agreement of Hypothecation of movable property dated 12.08.1987 Term Loan Agreement dated 12.08.1987 (both create the same change). |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500 millions |
|
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 |
The machinery purchased under the facility viz. 1 No. Hamburger and Meat Ball forming machine 1 No. Bandwaw, 1 No. Bizerba Slicing Machine 1 No. Maja Skinning Device, 1 No. Laska Cutter lying in the premises of Plot No.34, 35, 36 Mafco APM Yard, Vashi, New Mumbai |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Nature of facility: Term Loan Rs.1.500 millions Rate of Interest : 15% p.a. Margin : 25% Security : Hypothecation of machinery purchased under the facility as mentioned in (3) above. Repayment : Repayable in equal 10 half yearly instalments of Rs.0.150 millions each commencing the 1st instalment of 6 months from the date of first disbursal of the loan on September, 1987, whichever is earlier. |
|
5) Name and Address and description of the person entitled to the charge. |
The Vysya Bank Limited Mittal Tower, A Wing, 210, Nariman Point Mumbai-400021 |
|
6) Date and brief description of instrument modifying the charge |
Agreement dated 30.09.1987 |
|
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. |
In consolidation of the Vysya Bank Limited having allowed to the Borrower Company by way of Term Loan, a Limit of Rs.1.500 millions the Borrower Company now offers to mortgage the following Machinery viz. 1 No. Machinery for seafood Industry Smoking Kilns, 1 No. skinning Machine and 1 No. Holding Device type HV60-4 with 3 special linking nozzles, to cover the said term loan of Rs.1.500 millions un addition to the hypothecation change on movable property (being machinery) created by the Borrower Company on 12.08.1987 in favour of The Vysya Bank Limited, for the said Term Loan of Rs.1.500 millions. Thus the machineries mortgaged under the Agreements dated 12.08.1987 and 30.09.1987 will be total security in favour of the Vysya Bank Limited for the term Loan of Rs.1.500 millions sanctioned by the said Bank. |
|
Name of the company |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
Presented By |
I.
AHMED AND COMPANY (COLD STORAGE AND EXPORTS) PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Agreement of Hypothecation of movable property dated 12.08.1987 Term Loan Agreement dated 12.08.1987 (both create the same change). |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500 millions |
|
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 |
The machinery purchased under the facility viz. 1 No. Hamburger and Meat Ball forming machine 1 No. Bandwaw, 1 No. Bizerba Slicing Machine 1 No. Maja Skinning Device, 1 No. Laska Cutter lying in the premises of Plot No.34, 35, 36 Mafco APM Yard, Vashi, New Mumbai |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Nature of facility: Term Loan Rs.1.500 millions Rate of Interest : 15% p.a. Margin : 25% Security : Hypothecation of machinery purchased under the facility as mentioned in (3) above. Repayment : Repayable in equal 10 half yearly instalments of Rs.0.150 millions each commencing the 1st instalment of 6 months from the date of first disbursal of the loan on September, 1987, whichever is earlier. |
|
5) Name and Address and description of the person entitled to the charge. |
The Vysya Bank Limited Mittal Tower, A Wing, 210, Nariman Point Mumbai-400021 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
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.44.56 |
|
UK
Pound |
1 |
Rs.86.16 |
|
Euro |
1 |
Rs.57.76 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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/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 |
|