MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SUN GLOW FREIGTH AND CARGO SOLUTIONS PRIVATE LIMITED |
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Registered Office : |
205/206 Marshall House 33/1 N S Road, Kolkata;700001, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.02.2005 |
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Com. Reg. No.: |
21 - 101835 |
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CIN No.: [Company
Identification No.] |
U60100WB2005PTC101835 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of providing cargo and logistics
Services |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 500 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track records.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active, Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
205/206 Marshall House 33/1 N S Road, Kolkata;700001, West |
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Tel. No.: |
91-33-2231 5105/2210 6913 |
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Fax No.: |
91-33-3022 0496 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Vijay Kumar Agarwal |
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Designation : |
Director |
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Date of Appointment : |
23.02.2005 |
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Name : |
Mr. Nirmal Kumar Agarwal |
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Designation : |
Director |
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Date of Appointment : |
23.02.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Vijay Kumar Agarwal |
9500 |
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Nirmal Kumar Agarwal |
500 |
Equity share Break-up:
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Category |
Percentage |
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Director or relatives of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of providing cargo and logistics
Services |
GENERAL INFORMATION
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Bankers : |
ICICI Bank Limited, |
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Auditors : |
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Name : |
M/s Gupta and Manglik Chartered accountant |
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Address : |
1/1A, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
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2] Share Application Money |
0.025 |
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3] Reserves & Surplus |
0.013 |
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4] (Accumulated Losses) |
0.000 |
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NETWORTH |
0.138 |
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LOAN FUNDS |
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1] Secured Loans |
0.140 |
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2] Unsecured Loans |
0.000 |
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TOTAL BORROWING |
0.140 |
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DEFERRED TAX LIABILITIES |
0.007 |
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TOTAL |
0.285 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.271 |
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Capital work-in-progress |
0.000 |
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INVESTMENT |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
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Sundry Debtors |
0.248 |
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Cash & Bank Balances |
0.065 |
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Other Current Assets |
0.003 |
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Loans & Advances |
0.000 |
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Total
Current Assets |
0.316 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.314 |
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Provisions |
0.002 |
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Total
Current Liabilities |
0.316 |
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Net Current Assets |
0.000 |
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MISCELLANEOUS EXPENSES |
0.014 |
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TOTAL |
0.285 |
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PROFIT & LOSS
ACCOUNT
Note:
Since the subject
was incorporated in February 2005 the profit and loss for 2006 is not available
KEY RATIOS
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PARTICULARS |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
2.30 |
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Current Ratio (Current Asset/Current Liability) |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
As Per Web Site:
Company & Profile
The company formally known as Sun Corporation was established in 2000, under the leadership of Vijay Kumar Agarwal with a view to service the increasing global demand for freight forwarding activities.
They offer all sorts of cargo and logistics related services under one roof to
their clients in
Their head office is located in eastern part of
As they must be knowing that
Services
Their services in this area are focused to save clients from complex administrative process which results in time and cost savings with efficient services to you. some of their services that has been highly commended by the clients are:
Freight Forwarding
They offer economical freight rates including all types of cargo both by sea and air to and from any ports of the world both for import and export. By virtue of their exclusive agreements and commitments with leading shipping lines they enjoy firm links with leading carriers, enabling them for the procurement of special rates, space allocation and transit time commitments.
• Air
• Sea
• Land
Consolidation
They provide and handle world wide LCL consolidation both for ex bound and
inbound cargo. Their major transshipment/reworking hubs are
Door To Door Services
They provide end to end services to their clients to assist them in their supply chain management system. From shipper's warehouse to consignee's final place of delivery.
Transportation
Move the cargo on time , weather you need to move components to production or
deliver goods to final services, they could meet the time requirements by
managing the most effective.
Combination Of Transportation Services.
• Air Freight
• Sea Freight
• Road Freight
• Rail Freight
Warehousing
They provide warehousing facility outside and inside the port premises. All
warehouses are well equipped to handle and store all types of import and export
cargos. Their motto is to insure safety and security of goods.
• customs bonded warehouses inside the port premises
• private warehouses outside port premises
Customs Clearance Services
They Under Take Customs And Port Clearance Work Of Their Clients Both For Import And Export Shipment. Their Highly Specialized Personals Handle It With Full Responsibility And Timely.
Trade Management
They provide various trade related services to their
clientele which makes international trade easy for you.
• Packing Services
• Cargo Clearance
• Export / Import License
• Legal Consultancy
B2b E-Commerce
Sun is ready to conduct b2b e-commerce with their customers and strategic partners for data-flow, information flow, and even financial flow linkage in the supply chain management.
After Sales Services
• Consignment note and bill of loading format
• Bank documentation
• Shipment trucking and tracing
• Shipment status information till final delivery
Their Objectives
Since establishment Sun has maintained a pro-active role in the evolving international transportation and logistics markets. Their objective is to be the most competitive global transportation and total logistics service provider. Customers & associates satisfaction are their number one priority. They believe on customer choice, recommendation and requirements. They are always at the service for customers 24 hours a day, 7 days a week and 365 days a year. With this objective in mind, they are committed to the continuous search for excellence that offers efficient and effective total solutions. Sun dedicates itself and its resources to meet the diverse needs of their customers with flexibility in a cost conscious and professional manner.
Throughout years, they have progressively expanded their service network on a global scale. At the same time they have developed and upgraded their e-commerce business platform, their efforts are not only to integrate their internal data and information to strengthen overall management performance, but to also assist their customers to increase their competitiveness in their market by providing external data integration and on-line real time information visibility for effective supply chain management.
Their Core Competences:
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Flexibility
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Teamwork
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Professionalism
Their Corporate Culture:
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The
spirit of service and concept of cost
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Internal
and customer communication
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Market-oriented
marketing strategy and operation
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Responsible
instantaneous actions
- Modest self-expression
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Focusing Areas |
Results |
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Core Business |
Greater Customers Satisfaction |
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Reducing Inventory |
Lower Total Logistics cost |
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Decreasing Back Order |
Reducing Unit Cost |
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Lower capital Investment |
Reducing Unit Cost |
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Enhancing on Time Delivery Improving Tracing and Expediting |
Increase Cash Flow Availability |
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Improving Tracing and Expediting |
Lower Capital Investment Risk |
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Information Sharing |
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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.40.73 |
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1 |
Rs.80.43 |
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Euro |
1 |
Rs.54.44 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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27 |
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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