MIRA
INFORM REPORT
|
Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
MUNDI UNION S.L. |
|
|
|
|
Registered Office : |
Camino Sagraments( |
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|
Country : |
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|
|
Financials (as on) : |
31.12.2005 |
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|
Date of Incorporation : |
11/02/1994 |
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|
Legal Form : |
Limited Liability Company |
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|
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|
Line of Business : |
Wholesale of other products |
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
Identification and
Characteristics
|
COMPANY SITUATION |
REACTIVATION OF THE COMPANY |
|
Tax Number |
B60493830 |
|
NAME |
MUNDI UNION S.L. |
|
BUSINESS ADDRESS |
CAMINO SAGRAMENTS(PG |
|
Postcode |
08630 ABRERA ( |
|
FORMER ADDRESS |
AVENIDA SANT ILDEFONS, 20 |
|
Postcode |
08940 |
|
TELEPHONE |
937704740 |
|
FAX |
947704111 |
|
LEGAL FORM |
LIMITED LIABILITY COMPANY |
|
DATE FOUNDED |
11/02/1994 |
|
CAPITAL |
363.605,06 Euros |
|
NUMBER OF
EMPLOYEES |
11 |
|
ACTIVITY |
1619900 - Wholesale of other
products |
|
CNAE |
5170 - Other wholesale |
|
IMPORT COMPANY |
YES |
|
* Characteristics of the main address |
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|
According to our investigations
dated 01/02/2005 these premises are rented used
as store located in a main commercial area . |
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Synthesis
|
FINANCIAL SITUATION (Year
ending: 31/12/2005) |
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PROFITABILITY |
|
Average |
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TREASURY |
|
Very good |
|
BALANCE SHEET |
|
Excellent |
|
DEBT |
|
Medium |
|
INCIDENTS |
||
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|
|
COMMITMENTS |
|
Respected |
|
INCIDENTS |
|
None or Negligible |
|
PREVIOUS EXPERIENCE |
||
|
|
|
|
|
PREVIOUS
EXPERIENCE |
|
Favourable |
Credit Appraisal
|
CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros): |
|
FAVOURABLE TOWARDS 45.000,00
Max. Euros |
|
SOLVENCY RATING: |
|
(BASED ON HOMOGENEOUS FORMULATION) |
Financial Elements
Figures given in
Euros
|
|
Balance
sheet 2.003 (12) |
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
%
Sales |
|
|
SALES |
811.377,19 |
1.167.877,51 |
2.148.311,76 |
|
|
|
ADDED VALUE |
103.419,76 |
-40.367,50 |
515.632,56 |
24,00 |
|
|
BUSINESS RESULT |
29.865,17 |
-127.511,27 |
200.953,44 |
9,35 |
|
|
OWN FUNDS |
364.973,92 |
237.462,65 |
479.393,81 |
|
|
|
DEBT |
341.078,89 |
867.247,95 |
1.186.164,42 |
|
|
|
TOTAL ASSET |
706.052,81 |
1.104.710,60 |
1.666.212,19 |
|
|
|
The sales of 2.148.311,76
Euros show a change of 83,95% compared with
2.004 . Between 2.003 and 2.004 , this
change was 43,94% . |
|||||
|
Added value grew by -1.377,35%
compared with the previous year. Shareholders equity are 479.393,81
Euros for an indebtedness of 1.186.164,42 Euros
. |
|||||
|
The result 200.953,44
Euros means financial profitability of 41,92% and
economic profitability of 12,06% . This result means growth of
257,60% compared with the 2.004 . |
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THE FIGURES FOR THE LAST BALANCE SHEET ARE
RELEVANT: |
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SOURCE: FROM THE MERCANTILE REGISTER |
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DATE: 29/11/2006 |
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Results Distribution |
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Annual Report Year Source: 1.999 |
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Figures given in Euros |
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Distribution Base |
|||||
|
Profit and Loss |
26.053,87 |
||||
|
Total of Amounts to be
distributed |
26.053,87 |
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|
Distribution a |
|||||
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Prior years losses |
26.053,87 |
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Comparative Sector
Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
99,97 |
98,80 |
1,17 |
|
ADDED
VALUE |
24,00 |
20,98 |
3,02 |
|
BUSINESS
RESULT |
9,35 |
2,80 |
6,55 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
28,77 |
36,20 |
-7,43 |
|
DEBT |
71,19 |
63,80 |
7,39 |
Compared sector (CNAE): 517 - Otro comercio
al por mayor
Number of companies: 2.541
Size (Sales Figure): 0 - 2.800.000,00
Euros
The turnover of the company is 1,17%
above the mean for the sector.
The company’s added value was 24,00%
s/ the production value, and 3,02% above the mean for the sector.
The company’s business result was
9,35% of the PV, 6,55% above the mean for the sector.
The company’s own resources are 28,77%
, 7,43% below the mean for the sector.
The company’s outside resources are
71,19% , 7,39% above the mean for the sector.
Legal Actions
No legal incidences registered for this company in the official source
No claims registered for this company in the official sources
AFFECTED BY: No significant elemento
Main Board members,
Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
ADMINISTRATOR |
MONTERO MARTIN FRANCISCO |
24/05/2001 |
Functional Managers
|
Position |
Surname and name |
|
MANAGER |
MONTERO MARTIN FRANCISCO |
Financial Links
|
Shareholders |
||||
|
Company Name |
|
|
Source |
Information Date |
|
YAGUE ALDEA MARIA PILAR |
|
50,00% |
OWN SOURCES |
19/12/2006 |
|
MONTERO MARTIN FRANCISCO |
|
50,00% |
OWN SOURCES |
19/12/2006 |
Proceedings published
in the B.O.R.M.E.
(Official Mercantile
Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Registration of accounts
(2005) |
05/01/2007 |
021522 |
|
|
Registration of accounts
(2004) |
07/11/2005 |
863121 |
|
|
Change of adress |
23/06/2005 |
284802 |
|
|
Registration of accounts
(2003) |
22/12/2004 |
956270 |
|
|
Registration of accounts
(2002) |
07/10/2003 |
556853 |
|
|
Commercial Experience |
|
|
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PURCHASES |
|
Import Percentage:
90% |
|
Imports:: |
|
Extremo Oriente |
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO DE SABADELL, S.A. |
|
|
ABRERA |
|
|
BANCO |
0540 |
CTRA. DE ESPLUGUES,
70 |
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|
The information on the last account
contained in this report is extracted from the Mercantile Register file of the
legal address of the Company and dated 29/11/2006
Balance Sheet
(ASSETS)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
33.254,21 |
121.523,49 |
144.073,97 |
|
|
I. Establishment expenses |
|
61.314,90 |
54.026,99 |
|
|
II. Intangible assets |
15.389,12 |
13.837,88 |
51.519,63 |
|
|
III. Tangible assets |
17.865,09 |
46.370,71 |
38.527,35 |
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IV. Financial assets |
|
|
|
|
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V. Owners equity |
|
|
|
|
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VI. Long term trade liabilities |
|
|
|
|
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C) DEFERRED EXPENSES |
10,05 |
|
|
|
|
D) CURRENT ASSETS |
672.788,55 |
983.187,11 |
1.522.138,22 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
187.770,57 |
364.358,29 |
416.788,00 |
|
|
III. Debtors |
267.489,39 |
618.828,82 |
772.172,11 |
|
|
IV. Short term financial assets |
|
|
|
|
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V. Short term owners equity |
|
|
|
|
|
VI. Cash |
217.528,59 |
|
333.178,11 |
|
|
VII. Prepaid expenses and accrued income |
|
|
|
|
|
ASSETS (A + B + C + D) |
706.052,81 |
1.104.710,60 |
1.666.212,19 |
Balance Sheet
(LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
364.973,92 |
237.462,65 |
479.393,81 |
|
|
I. Capital |
363.605,06 |
363.605,06 |
363.605,06 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
|
2.986,52 |
2.986,52 |
|
|
Sundry reserves |
|
2.986,52 |
2.986,52 |
|
|
V. Prior year earnings |
-28.496,31 |
-1.617,66 |
-88.151,21 |
|
|
VI. Prior year profit or losses |
29.865,17 |
-127.511,27 |
200.953,44 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
|
|
653,96 |
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
|
80.000,00 |
|
|
|
E) SHORT TERM LIABILITIES |
341.078,89 |
787.247,95 |
1.186.164,42 |
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
706.052,81 |
1.104.710,60 |
1.666.212,19 |
Profit and Loss
Account
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) EXPENSES (A.1 a A.15) |
|
|
|
|
|
A.1 Operating Expenses |
505.409,00 |
773.651,91 |
1.080.635,66 |
|
|
A.3. Labor cost |
67.778,04 |
101.486,13 |
161.798,86 |
|
|
Wages |
54.015,45 |
79.120,56 |
124.942,48 |
|
|
Social security expenses |
13.762,59 |
22.365,57 |
36.856,38 |
|
|
A.3. Assets depreciation |
10.936,79 |
20.254,70 |
31.518,40 |
|
|
A.4. Variance in provision for current
assets |
|
|
27.304,97 |
|
|
A.5. Other operating costs |
206.138,43 |
437.219,95 |
552.625,24 |
|
|
A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
24.704,93 |
|
295.010,33 |
|
|
A.6. Financial expenses |
2.129,83 |
8.253,50 |
4.157,61 |
|
|
Debts with related companies |
18,89 |
7.805,10 |
3.368,80 |
|
|
Other companies debts |
2.110,94 |
448,40 |
788,81 |
|
|
A.7. Variation in financial investments
provision |
|
|
|
|
|
A.8. Exchange losses |
9.758,87 |
15.252,85 |
29.509,02 |
|
|
A.II. POSITIVE FINANCIAL RESULTS
(B.2+B.3-A.6-A.7-A.8) |
15.933,76 |
|
|
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
40.638,69 |
|
266.542,82 |
|
|
A.9. Variation in provision in fixed
assets |
|
|
|
|
|
A.10. Losses in fixed assets |
|
|
|
|
|
A.11. Losses from shares and bonds |
|
|
|
|
|
A.12. Extraordinary charges |
1.963,42 |
9.313,74 |
1,04 |
|
|
A.13. Prior year’s expenses and losses |
387,72 |
|
|
|
|
A.IV. POSITIVE EXTRAORDINARY RESULT (B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
2.025,83 |
|
2,78 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
42.664,52 |
|
266.545,60 |
|
|
A.14. Corporate Taxes |
12.799,35 |
-54.647,69 |
65.592,16 |
|
|
A.15. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.14-A.15) |
29.865,17 |
|
200.953,44 |
|
|
B) INCOMES (B.1 a B.8) |
|
|
|
|
|
B.1. Operating income |
814.967,19 |
1.170.504,36 |
2.148.893,46 |
|
|
Turnover |
811.377,19 |
1.167.877,51 |
2.148.311,76 |
|
|
Other operating income |
3.590,00 |
2.626,85 |
581,70 |
|
|
B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5-B.1) |
|
162.108,33 |
|
|
|
B.2. Financial Income |
16,52 |
|
37,50 |
|
|
In affiliated companies |
16,52 |
|
|
|
|
Other |
|
|
37,50 |
|
|
B.3. Gains on exchange |
27.805,94 |
11.701,10 |
5.161,62 |
|
|
B.II. FINANCIAL LOSSES
(A.6+A.7+A.8-B.2-B.3) |
|
11.805,25 |
28.467,51 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
173.913,58 |
|
|
|
B.4. Gains from disposal of fixed assets |
|
|
|
|
|
B.5. Gains from dealing in own shares |
|
|
|
|
|
B.6. Paid in surplus |
|
|
|
|
|
B.7. Extraordinary income |
4.376,97 |
1.068,36 |
3,82 |
|
|
B.8. Prior year’s income and profits |
|
|
|
|
|
B.IV. EXTRAORDINARY LOSSES (A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
|
8.245,38 |
|
|
|
B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
|
182.158,96 |
|
|
|
B.VI. NET LOSS (B.V+A.14+A.15) |
|
127.511,27 |
|
Main Ratios
|
(Figures given in Euros) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
11,88 |
43,94 |
83,95 |
|
|
Assets Turnover |
1,15 |
1,06 |
1,29 |
|
|
Productivity |
1,53 |
-0,40 |
3,19 |
|
|
Increase of the Added Value |
118,95 |
-139,03 |
1.377,35 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
4,23 |
-11,54 |
12,06 |
|
|
Financial Profitability |
8,18 |
-53,70 |
41,92 |
|
|
Financial Expenses |
0,26 |
0,71 |
0,19 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
119,00 |
191,00 |
129,00 |
|
|
Suppliers’ Credit (In days of sales) |
|
|
|
|
|
Working Capital (In days of sales) |
147,00 |
60,00 |
56,00 |
|
|
Working Capital Requirement (In days of
sales) |
51,00 |
60,00 |
0,00 |
|
|
Treasury (In days of sales) |
97,00 |
|
56,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
331.709,66 |
195.939,16 |
335.973,80 |
|
|
Working Capital Requirement |
114.181,07 |
195.939,16 |
2.795,69 |
|
|
Treasury |
217.528,59 |
|
333.178,11 |
|
|
Balance Ratio |
10,97 |
2,61 |
3,33 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
48,31 |
78,51 |
71,19 |
|
|
Own / Permanent Funds |
100,00 |
74,80 |
99,86 |
|
|
Payback Capacity |
0,42 |
0,73 |
0,54 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,97 |
1,25 |
1,28 |
|
|
Immediate Liquidity |
0,64 |
|
0,28 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,07 |
-0,07 |
|
FIXED ASSETS |
8,65 |
27,11 |
-18,46 |
|
ACCRUED EXPENSES |
0,00 |
0,48 |
-0,48 |
|
CURRENT ASSETS |
91,35 |
72,34 |
19,01 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
28,77 |
36,20 |
-7,43 |
|
ACCRUED INCOME |
0,04 |
0,11 |
-0,07 |
|
RISK AND EXPENDITURE COVER
|
0,00 |
0,14 |
-0,14 |
|
LONG-TERM CREDITORS |
0,00 |
12,33 |
-12,33 |
|
SHORT-TERM CREDITORS |
71,19 |
51,21 |
19,98 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,02 |
-0,02 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of
Results
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Net turnover |
99,97 |
98,80 |
1,18 |
|
Other operating income |
0,03 |
1,20 |
-1,18 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
50,29 |
66,01 |
-15,72 |
|
Other operation expenses |
25,72 |
13,02 |
12,70 |
|
Added value |
24,00 |
20,98 |
3,02 |
|
Labor cost |
7,53 |
14,52 |
-6,99 |
|
Gross Economic Result |
16,47 |
6,45 |
10,01 |
|
Assets depreciation |
1,47 |
1,72 |
-0,25 |
|
Variation in provision
for current assets |
1,27 |
0,18 |
1,09 |
|
Net Economic Result |
13,73 |
4,55 |
9,18 |
|
Financial income |
0,24 |
0,31 |
-0,07 |
|
Financial expenses |
1,57 |
1,19 |
0,38 |
|
Variation in financial
investment provision |
0,00 |
-0,01 |
0,01 |
|
Ordinary Activities
Result |
12,40 |
3,68 |
8,72 |
|
Extraordinary income |
0,00 |
0,39 |
-0,39 |
|
Extraordinary expenses |
0,00 |
0,17 |
-0,17 |
|
Variation in provision
in fixed assets |
0,00 |
0,01 |
-0,01 |
|
Results before Taxes |
12,40 |
3,90 |
8,51 |
|
Corporaye taxes |
3,05 |
1,09 |
1,96 |
|
Net Result |
9,35 |
2,80 |
6,55 |
|
Assets depreciation |
1,47 |
1,72 |
-0,25 |
|
Provisions fund
variation |
1,27 |
0,18 |
1,09 |
|
Net Self-Financing |
12,09 |
4,70 |
7,39 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
83,95 |
-8,53 |
2,33 |
12,86 |
|
Assets Turnover |
1,29 |
1,04 |
1,57 |
2,17 |
|
Fixed Assets Turnover |
14,91 |
3,71 |
9,23 |
23,86 |
|
Increase of the Added
Value |
1.377,35 |
-8,68 |
2,48 |
14,82 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
3,19 |
1,19 |
1,36 |
1,68 |
|
Change of Personnel
Costs |
59,43 |
-1,83 |
5,81 |
17,00 |
|
Average Personnel Costs |
14.708,99 |
15.313,40 |
20.991,43 |
28.692,80 |
|
Value Added by Employees |
46.875,69 |
21.412,34 |
30.181,41 |
43.897,00 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
259.776,81 |
9.550,82 |
23.312,20 |
52.836,86 |
|
Operating Cash Flow |
353.833,70 |
13.451,27 |
33.478,69 |
75.360,63 |
|
Change in Cash Flow |
342,20 |
-26,77 |
-3,82 |
19,92 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
12,06 |
0,90 |
2,46 |
5,76 |
|
Financial Profitability |
41,92 |
3,74 |
9,58 |
19,52 |
|
Financial Expenses |
0,19 |
0,19 |
0,71 |
1,68 |
|
Gross Economic
Profitability |
21,24 |
4,64 |
8,05 |
13,22 |
|
Gross Financial
Profitability |
73,81 |
15,18 |
29,63 |
54,55 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
129,00 |
42,12 |
78,09 |
122,31 |
|
Suppliers’ Credit (In
days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
56,00 |
9,19 |
39,97 |
88,03 |
|
Working Capital Requirement
(In days of sales) |
0,00 |
-18,00 |
12,52 |
49,42 |
|
Treasury (In days of
sales) |
55,00 |
5,97 |
19,79 |
47,93 |
|
Operating Current Assets |
255,00 |
123,47 |
171,61 |
245,85 |
|
BALANCE |
|
|
|
|
|
Working Capital |
335.973,80 |
10.668,62 |
64.709,78 |
188.221,00 |
|
Working Capital
Requirement |
2.795,69 |
-24.255,07 |
16.983,51 |
99.076,27 |
|
Treasury |
333.178,11 |
7.481,76 |
32.336,86 |
90.369,39 |
|
Balance Ratio |
3,33 |
1,16 |
2,07 |
4,73 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
71,19 |
51,23 |
71,14 |
84,46 |
|
Own / Permanent Funds |
99,86 |
60,09 |
89,77 |
100,00 |
|
Payback Capacity |
0,54 |
0,26 |
0,40 |
0,62 |
|
Long term Indebtedness |
|
0,00 |
3,50 |
16,30 |
|
Gearing |
347,57 |
205,06 |
346,46 |
643,41 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,36 |
1,14 |
1,35 |
1,88 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,28 |
1,06 |
1,30 |
1,86 |
|
Immediate Liquidity |
0,28 |
0,04 |
0,16 |
0,46 |
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 |
|
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%)