MIRA INFORM REPORT
|
Report Date : |
19.01.2007 |
IDENTIFICATION DETAILS
|
Name : |
HEWLETT PACKARD INDIA SALES
PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Digital
Park, 92, Indsutrial Suburb, II Stage, Yeshwantpur, Bangalore, 560022,
Karnataka |
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Country : |
India |
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|
Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.091997 |
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Com. Reg. No.: |
08-22727 |
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CIN No.: [Company Identification No.] |
U72200KA1997PTC022727 |
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TAN No.: [Tax Deduction & Collection Account No.] |
BLRH2830C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers,
importers and exporters of computer systems, processors, hardware and
software, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 25000000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a subsidiary of Compaq Corporation, U.S.A. Available information indicates
high financial responsibility of the company. Their trade relations are fair.
Financial position is good. Payments are correct and as per commitments. The
company can be considered good for any normal business dealings. It
can be regarded as a promising business partner in a medium to long-run. |
LOCATIONS
|
Registered Office / Head
Office : |
Digital Park, 92,
Industrial Suburb, II Stage, Yeshwantpur, Bangalore, 560022, Karnataka,
India. |
|
Tel. No.: |
91-80-23097785/23374785 |
|
Fax No.: |
91-80-23374601/ 51108014 |
|
Website : |
http://www.hp.com/pc-in, / http://www.hpindia.com, p.padmaja@hp.com |
|
Area : |
100000 sq. ft. |
|
Location : |
Rented
(Industrial) |
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|
|
|
Branches : |
·
Golf View Campus, HP
Tower 3, Wind Tunel Road, Murgeshpalya, Bangalore – 560 017, Karnataka Tel No. 91-80-5216121 Fax No. 91-80-5276966 ·
Satkar Complex, 501, 5th
Floor, Behind Swagath Building, Off C. G. Road, Navrangpura, Ahmedabad - 380
009, Gujarat Tel. No. 91-79-26469374 Fax. No. 91-79-26469374 ·
Diamond District, Unit
No. 150, Tower B, 7th Floor, Airport Road, Bangalore - 560 008,
Karnataka Tel. No. 91-80-5203800 Fax. No. 91-80-5203810 ·
92, Industrial Suburb,
II Stage, Yeshwantpur, Bangalore 560 022, Karnataka, India Tel. No. 91-80-3473507/09/18/3374785 Fax. No. 91-80-3374601 ·
Golf View Campus, HP
Tower 1 and 2, Wind Tunnel Road, Murugeshpalya, Bangalore - 560 017,
Karnataka Tel. No. 91-80-5200602 Fax. No. 91-80-5276820 ·
No. 29, Cunningham
Road, Bangalore - 560 052, Karnataka Tel. No. 91-80-2251554 Fax. No. 91-80-2200196 ·
SCO # 58, 2nd Floor, Sector
20-C, Chandigarh - 160020 Tel. No. 91-172-2711883 Fax. No. 91-172-2706551 ·
Buharia Towers, 5th Floor,
No. 4, Moores Road, Egmore, Chennai - 600 006, Tamilnadu, India Tel. No. 91-44-28231510 Fax. No. 91-44-28216001 ·
8/10, GD Naidu Street, Race Course Road,
Coimbatore - 641018 Tel. No. 91-422-2215486 Fax. No. 91-422-25391502 ·
6th Floor, Tower - D, Global
Business Park, Menraull Gurgaon Road, Gurgaon,
Haryana. Tel. No. 91-124-2566111 Fax. No. 91-124-2566112 ·
Dega Towers, 1st Floor,
6-3-1085/D, Rajbhavan Road, Somajiguda, Hyderabad
- 500016, Andhra Pradesh Tel. No. 91-40-23388500 Fax. No. 91-40-23388522 ·
Ganpat Plaza, 319, 3rd
Floor, M. I. Road, Jaipur - 302001, Rajasthan Tel. No. 91-141-22364407 Fax. No. 91-141-22374678 ·
Yash Kamal Complex, 3d Floor, 301,
Bistupur Main Road, Jamshedpur - 831 001 Tel. No. 91-657-2439184 Fax. No. 91-657-2439184 ·
Vikas Building, No. 1, Dr. U. N. Brahmachari
Street, Kolkata 700016,WestBengal Tel. No. 91-33-22813899 Fax. No. 91-33-22813893 ·
Rubiyan", 1st Floor, 41/476, Arangath Road, Near
Veekshanam Press, Ernakulam, Kochi - 682 018 Tel. No. 91-484-2382492 Fax. No. 91-484-2382492 ·
Ganapathi House, F-5, 1st
Floor, 4 Way Road, MM Marg, Lucknow -226 001,
Uttar Pradesh Tel. No.
91-522-2209811 Fax. No.
91-522-2209976
Tel. No. 91-161-2406344 Fax. No. 91-161-2405680
Tel. No. 91-22-56771700 Fax. No. 91-22-26184858
Tel. No. 91-20-4011414 Fax. No. 91-20-6685620
Tel. No. 91-265-2332470 Fax. No. 91-265-2330127 |
DIRECTORS
|
Name : |
Mr.
Balu Doraisamy |
|
Designation : |
Managing
Director |
|
Address : |
#507, 4th Cross, Koramangala,
Bangalore - 560094, Karnataka |
|
Date of Birth/Age : |
25/04/1956 |
|
Date of Appointment : |
04/06/1999 |
|
|
|
|
Name : |
Mr. Paul Chan Kwai Wal |
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Designation : |
Director
|
|
Address : |
# 21, Oriole Cresent, Singapore - 888614 |
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Date of Birth/Age : |
10/03/1954 |
|
Date of Appointment : |
16/10/1997 |
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Date of Ceasing : |
18/04/2005 |
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|
|
|
Name : |
Mr. Charles Andrew Jolley
Jr |
|
Designation : |
Director
|
|
Address : |
# 12-01, Claymore, Claymore Road, Singapore -
229544 |
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Date of Birth/Age : |
29/08/1957 |
|
Date of Appointment : |
29/01/2000 |
|
|
|
|
Name : |
Mr. Deepak Shah |
|
Designation : |
Director
|
|
Address : |
248, III Cross, JP Nagar, III Phase, Bangalore -
560078, Karnataka |
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Date of Birth/Age : |
16/12/1951 |
|
Date of Appointment : |
12/06/2002 |
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Date of Ceasing : |
15/07/2004 |
|
|
|
|
Name : |
Mr.
Narayan Venkat Prabhu Tendulakar |
|
Designation : |
Whole-time
Director |
|
Address : |
J 73, Diamond District, Airport Road, Kodihalli ,
Bangalore-560008, Karnataka, India |
|
Date of Birth/Age : |
22/12/1957 |
|
Date of Appointment : |
01/07/2004 |
KEY EXECUTIVES
|
Name : |
Mr. Zarir Batiwala |
|
Designation : |
Company Secretary |
|
Address : |
751, 8th Main, 3rd Block,
Koramangala, Bangalore-560034, Karnataka, India |
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Date of Birth/Age : |
29/10/1949 |
|
Date of Appointment : |
12/07/1999 |
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Date of Ceasing : |
01/07/2004 |
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|
|
|
Name : |
Mr.
Narayan Venkat Prabhu Tendulakar |
|
Designation : |
Company
Secretary |
|
Address : |
J 73, Diamond District, Airport Road, Kodihalli ,
Bangalore-560008, Karnataka, India |
|
Date of Birth/Age : |
22/12/1957 |
|
Date of Appointment : |
01/07/2004 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Compaq
Computers (Mauritius) |
198453322 |
|
Hewwlett-Packard
EMEA B.V. |
1 |
|
Hewlett-Packard
Gouda B.V. |
10 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, importers
and exporters of computer systems, processors, hardware and software, etc. |
|
|
|
|
Imports from : |
U.S.A.,
Singapore and Other HP Overseas Locations Credit |
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|
|
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Terms : |
|
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Selling : |
Credit
(45 days), Cash terms L/C and Document through Bank |
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|
|
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Purchasing : |
Credit
(30/60 days) terms |
GENERAL INFORMATION
|
Suppliers : |
Ø
Bindu Graphics, India Ø
Delta Manufacturing
Company, India Ø
Polytec Packaging
India Private Limited, India Ø
Superpack, India Ø
Wadpack Limited, India
Ø
Synthetic Packers
Private Limited, India Ø
Intel India, Bangalore
Ø
Tata Consultancy
Services, Bangalore Ø
Microsoft, Bangalore Ø
Wipro Limited,
Bangalore |
|
|
|
|
Customers : |
Ø
Hewlett Packard Group
Companies Ø
Ashokleyland Limited,
Bangalore Ø
Ingram Micro India
Limited, Bangalore Ø
The Bombay Stock
Exchange Limited, Mumbai Ø
Industrial Credit and
Investment Corporation of India Limited, Mumbai Ø
State Bank of India,
India Ø
Hindustan Lever
Limited, Bangalore Ø
Dept of Posts and
telegraphs, Government of India Ø
United India Insurance
Limited, India |
|
|
|
|
No. of Employees : |
700 |
|
|
|
|
Bankers : |
HDFC
Bank, Bangalore, Karnataka |
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|
|
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Banking Relations : |
Good |
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|
Auditors : |
Batliboi & Company Chartered Accountants Divyasree Chambers, A wing,
2nd Floor, Langford Road, Bangalore-560025, Karnataka, India Lovelock and Lewes Chartered Accountant Bangalore,
Karnataka |
|
|
|
|
Associates: |
Ø
Hewlett - Packard Inc Ø
Compaq Group, USA Ø
Compaq Computer Asia
Private Limited Ø
Compaq Computer Adv
Limited Ø
Hewlett-Packard India
Private Limited Ø
Global-e-Business
Operations Private Limited |
|
|
|
|
Parent Company : |
Ø
Compaq Computer
Corporation, Mauritius |
|
|
|
|
Group Companies : |
Ø
Hewlett Packard India
Private Limited, New Delhi / Bangalore Ø
Hewlett Packard
(India), Software Operations Private Limited, Bangalore Ø
Global Business
Operations Private Limited, Bangalore Ø
Hewlett Packard
Financial Services India Private Limited, India Ø
Hewlett Packard Co.,
U.S.A. Ø
Digital Global Soft
Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs. 2000.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
198453333 |
Equity Shares |
Rs 10/- each |
Rs. 1984.533 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 |
|
1984.533 |
1984.533 |
|
|
2]
Share Application Money |
|
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
|
4391.047 |
1982.474 |
|
|
4]
(Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
6375.580 |
3967.007 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
|
183.896 |
5.775 |
|
|
2]
Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
183.896 |
5.775 |
|
|
DEFERRED
TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
6559.476 |
3972.782 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
847.248 |
575.113 |
|
|
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 |
|
7197.218 |
3462.610 |
|
|
Sundry Debtors |
|
7785.466 |
4702.298 |
|
|
Cash & Bank Balances |
|
4328.915 |
1836.907 |
|
|
Other Current Assets |
|
6.247 |
0.156 |
|
|
Loans & Advances |
|
984.306 |
3995.571 |
|
Total Current Assets |
|
20302.152 |
13997.542 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
13828.860 |
10173.399 |
|
|
Provisions |
|
761.064 |
426.474 |
|
Total Current Liabilities |
|
14589.924 |
10599.873 |
|
|
Net
Current Assets |
|
5712.228 |
3397.669 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
6559.476 |
3972.782 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
|
NA |
NA |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
NA |
NA |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total Assets} |
(%) |
|
NA |
NA |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
NA |
NA |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
|
2.32 |
2.67 |
|
|
|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
|
1.39 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
History
Compaq, U.S.A. started its
Indian Operations during March, 1994.
On 2nd September,
1997 “Compaq Computer (India) Private Limited was established as a100%
subsidiary of Compaq Corporation, U.S.A.
During the period 27th
April, 1999 to 15th July, 1999 Compaq Computer (India) Limited
acquired the Computer Products and Service Business from Digital Equipment
(India) Limited, Bangalore by virtue of Compaq Corporation, U.S.A., Acquiring
DEC’s Business World Wide.
During calendar 2002s, Compaq
Companies and Brands worldwide were Acquired by Hewlett Packard, U.S.A. and its
operating Group companies worldover.
On 17th February,
2003 Compaq Computer (India) Limited applied to the companies registry,
Bangalore, Karnataka State for change of Name from ‘Compaq Computer (India)
Private Limited to ‘Hewlett Packard India Sales Private Limited under name
approval Number-08-41294.
Name changed to the present
name with effect from 18th March, 2003 as per enclosed high court of
Karnataka Clipping the subject is in the process of Amalgamation with ‘Hewlett
Packard (India) Private Limited’.
The company is in
collaboration with Hewlett Packard Company, U.S.A.
It imports raw materials,
spares and components.
It exports to Sri Lanka,
Philippines, Singapore.
The company is a subsidiary
of Compaq Computer Corporation, Mauritius, because of the acquisition of shares
from Compaq Computer Corporation USA and Compaq Computer International
Corporation USA.
On incorporation this company
has taken over the business as going concern from Compaq Computer Asia Pte
Limited (CCAPL), Singapore.
Consequent to the acquisition
by HP, the name of the company changed to the present w. e. f. 18th
March, 2003
The
company's fixed assets of important value include goodwill, intangible assets,
leasehold land, plant and machinery, furniture and fixture
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. 44.25 |
|
UK
Pound |
1 |
Rs. 87.30 |
|
Euro |
1 |
Rs. 57.36 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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
|
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 |