MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
K. D. JOSHI |
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Registered Office : |
Ramanbag Society,
353, Shaniwar Peth, Pune-411030, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.04.1969 |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturers of Rubber
Components, Rubber Moulded Products, Rubber Rollers and Accessories for
Printing Machines of Textile Industry |
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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Maximum Credit Limit : |
USD 22000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed concern having satisfactory track. Trade relations
are fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The concern can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Ramanbag Society,
353, Shaniwar Peth, Pune-411030, |
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Tel. No.: |
91-20-24452454/
24457699 |
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Fax No.: |
91-20-24492284 |
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E-Mail : |
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Area : |
600 Sq.ft. |
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Location : |
Owned |
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Factory 1 : |
A 83-85, H Block,
MIDC, Pimpri, Pune-411018, |
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Tel. No.: |
91-20-27474181/27472170 |
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Fax No.: |
91-20-266112066 |
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E-Mail : |
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Area : |
Plot Area –
20000sq.fts Built up –
10000sq.fts |
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Location : |
Owned |
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Factory 2 : |
Gala No. 64, Parmar Industrial Complex, Chinchwad |
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Area: |
600sq.fts. |
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Branches : |
Shop No. 7 and 8,
606/ A-2, Varun Complex, GIDC, Sachin, Surat, Gujarat, India |
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Tel. No.: |
91-9825091498 /
9327387239 |
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E-Mail : |
PARTNERS
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Name : |
Mr. Milind K.
Joshi |
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Designation : |
Partner |
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Date of Birth/Age : |
48 years |
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Qualification : |
Graduate |
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Name : |
Mr. Makrand K.
Joshi |
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Designation : |
Partner |
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Date of Birth/Age : |
45 years |
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Qualification : |
Engineer |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of
Rubber Components, Rubber Moulded Products, Rubber Rollers and Accessories
for Printing Machines of Textile Industry |
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Products : |
Ř
Rubber
rollers for textile printing. Xerox and other machines. Ř
Air
pressure hoses for textile spinning machinery. Ř
Aluminium
coated for screen coating applications. Ř
Rubber
moulded components for various applications. Precision engineering metal components. |
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Exports : |
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Products : |
Rubber Components, printing Machinery, Textile Machinery Parts |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Credit (30/60 days) |
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Purchasing : |
Credit (30/60/45 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
50 |
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Bankers : |
Bank of Shivaji Nagar, Pune |
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Facilities : |
Cash Credit – Rs.2.500 millions and Machinery Loan on project basis |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Metallica
Products ( F – 2, 3 / 1,
MIDC, Pimpri, Pune - 411018 Line of Business
: Manufacturer of Moulded
Products and Cast Poly Eurethine Employees: 20 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.000 millions |
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Borrowed : |
Rs.2.500 millions |
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Total : |
Rs.5.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover |
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40.515 |
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Other Income |
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0.049 |
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Total Income |
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40.564 |
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Profit/(Loss) Before Tax |
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3.669 |
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Provision for Taxation |
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0.985 |
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Profit/(Loss) After Tax |
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2.684 |
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Expenditures : |
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Cost of Goods Sold |
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0.000 |
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Manufacturing Expenses |
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11.626 |
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Administrative Expenses |
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1.178 |
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Raw Material Consumed |
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12.615 |
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Selling and Distribution Expenses |
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3.601 |
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Financial Charges |
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2.209 |
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Insurance Expenses |
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1.192 |
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Depreciation & Amortization |
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1.140 |
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Other Expenditure |
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7.002 |
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Total Expenditure |
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40.563 |
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LOCAL AGENCY FURTHER INFORMATION
Company Details:
Web Site
Details:
Where technology blossom
When it is time to order squeegees
for screen-printing operations, the first name that the textile industry thinks
of is K.D.JOSHI, a family concern which was set up in Pune (some 200 kms south
of
What has been the single
most conspicuous feature of KDJ is its technological self -reliance.
From rubber formulation to moulding and testing, every operation is based on
its own innovative technology.
What is even more significant is that practically every special purpose machine required in the manufacture of squeegees and other products for the textile industry, have been designed and build in - house at KDJ.
Naturally KDJ is now a byword for blossoming innovative, indigenous technology.
Facilities
There are three main divisions in the KDJ plant: the Materials Division, the Production Division and the R & D Division.
The Material Division is equipped with a Laboratory and special purpose machines, which prepare various types of rubber compounds for the different products which form the KDJ product line.
The production Division boasts a modern tool room with CNC machines for designing and building all the moulds required. The metal parts like aluminium squeegee handles; carriage wheels and friction rolls are precision machined at the machine shop.
The R& D Division is the greenhouse in which KDJ's innovative technology blossoms. It is equipped with an array of instruments for testing tensile strength, hardness, specific gravity, resilience, abrasion and compression set. There are also a special rubber roller run out testing equipments and the latest digital measuring instruments.
The quality of KDJ products is reflected in the excellent reputation they enjoy in the textile industry
Product line
The main product of KDJ has been the squeegee. KDJ squeegees
are available in a
complete range of angle configurations and hardness ranging from 40o S.
H. to 80o S. H. for
practically all brands of screen-printing machines, automatic and semiautomatic
Industry Coverage:
- Textiles
- Plastics
- Printing and Packaging
- Electronics
- Electrical
- Paper Printing
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.66 |
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1 |
Rs.81.70 |
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Euro |
1 |
Rs.55.05 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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54 |
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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