MIRA
INFORM REPORT
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Report Date : |
19.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ANIL GROVER AND COMPANY |
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Registered Office : |
181/183, Samuel Street, Mumbai – 400 009, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1940 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA15569B |
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PAN No.: [Permanent
Account No.] |
AAAFA3512B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Traders, Exporters and importers of spices such as cumin, fennel, sesame, celery seeds and spices and medicinal herbs like senna leaves pods. |
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 120000 |
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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 trader. Proprietor of the concern is reported as experienced, respectable and having satisfactory means of his own. His trade relations are reported as fair. 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/ Head Office : |
181/183, Samuel Street, Mumbai – 400 009, Maharashtra, India |
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Tel. No.: |
91-22-27651107/ 26401389 |
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Mobile No.: |
91-9892008928/ 9820035986 |
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Fax No.: |
91-22-67907228 |
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E-Mail : |
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Website : |
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Area : |
500 sq. ft. |
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Location : |
Owned |
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Branch Office : |
C-40, APMC Market – I, Phase II, Sector- 19, Vashi, Navi Mumbai – 400
705, Maharashtra, India |
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Area : |
3000 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Anil Grover |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
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Experience : |
18 years |
BUSINESS DETAILS
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Line of Business : |
Traders, Exporters and importers of spices such as cumin, fennel, sesame, celery seeds and spices and medicinal herbs like senna leaves pods. |
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Products : |
v Spices (Whole and Ground)/ Seed (Oil Seeds & Medical Seeds): Asafoetida, Black Cumin Seeds, Black Pepper Whole and Ground, Cardamom (Green, White & Black), Celery Seeds, Corriander (Whole and Ground), Cumin Seeds, Curry Powder, Dill Seeds, Fennel Seeds, Fenugreek Seeds, Ginger (Bleached & Unbleached), Ground Nuts (HPS), Parsley Seeds, Red Chili (Whole and Ground), Sesame (Hulled and Natural), Turmeric (Whole and Ground), etc. v Medicinal Herbs: Cassia Powder, Heena Leaves and Powder, How Bark, Hydrocotyle Asiatica Herb, Kaempferia Galanga, Kamla Powder, Lepidium Sativum, Myrobalans (Yellow and Black), Ocimum Pilosum, Passiflora Herbs, Psolarea Seeds, Psyllium Husk and Powder, Rhus Sussedanea, Rose Petals, Safflower, Senna Leaves, Senna Pods, Sida Cordifolia, Valerian Roots with Rootlets, Zeodary Roots, etc. |
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Exports : |
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Products : |
All Products |
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Countries : |
v USA v Europe v Far East and
Worldwide |
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Imports : |
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Products : |
Cloves, Wet Dates, Nutmeg, Cassia, Star Aniseed, Caraway
Seed, Gum Copal, Mace, Long Pepper, Cubebs, Gum Rosin, Tartaric Acid, Citric
Acid, Gambiar, Botanical Herbs, Leadore, Carnoba Wax, Dry Dates, Dry Fruits,
Almonds, Walnuts, Raisins, White Poppy Seeds, Pallitiry Roots, Petroleum Wax |
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Countries : |
v China v Europe v USA |
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Terms : |
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Selling : |
CAD ( 100% ) Both Local and Export or Import |
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Purchasing : |
CAD ( 100% ) Both Local and Export or Import |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and Exporters or Importers |
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No. of Employees : |
22 ( Skilled Labour 7 and Unskilled Labour 15 ) |
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Bankers : |
Tamilnad Mercantile Bank Limited Mandvi, Mumbai – 400 003, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. K. Ramani & Company Chartered Accountants Bandra, Mumbai |
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Tel. No.: |
91-22-2651664 |
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Memberships : |
v Indian Oilseeds & Produce Exporters Association v All India Spices Exporters Forum v Basic Chemicals Pharmaceuticals & Cosmetics Export Promotion Council v Spices Board of India v Bombay Kirana Colour and Chemical Merchant Association v Navi Mumbai Merchants Chambers v Navi Mumbai Spices Exporters Association v Basic Chemicals Pharmaceuticals and Cosmetics Export Promotion Council |
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Associates/Subsidiaries : |
v Gover
Enterprises B-38, APMC Market – I, Phase II, Sector-
19, Vashi, Navi Mumbai – 400 705, Maharashtra, India v Vidur Exports 404, Central Facility Building, APMC
Market No.1, Kirana Market, Vashi, Navi Mumbai, Maharashtra, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 30.000 Millions |
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Borrowed : |
- |
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Total : |
Rs. 30.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover ( Approximate ) |
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50.000 |
50.000 |
Expected Sales (2007-08) : Rs. 55.000 Millions
LOCAL AGENCY FURTHER
INFORMATION
Trade References:
v
Mutual Traders
v
S Narendar Kumar and Company
Website Details Attached:
About Them:
Enriched with over three decades of rich experience, they are a world class brand
with global reputation. At Subject, they nurture the philosophy based on total
quality control and continual improvement. For them, customer satisfaction is
the ultimate goal, and they strive to achieve it delivering their valued
clients- the products and services of the best quality. This customer centric
approach is the secret behind their pioneering and glorious existence in the
industry for such a long time spanned over 67 years. At present, they are a
100% export oriented business house engaged as an exporter of an extensive
range of premium quality Spices (Whole and Ground), Seed (Oil Seeds &
Medical Seeds) and Medical Herbs. They export these products to different parts
of the globe including, Europe, North America, South America, China and Far East.
Besides, they are also an importer of unequaled repute sourcing a wide range of
Cloves, Wet Dates, Nutmeg, Cassia, Star Aniseed, Caraway Seed, Gum Copal, Mace,
Long Pepper, Cubebs, Gum Rosin, etc. Their import market includes Europe, Far
East, China, Central America, and other parts of the world.
Subject is a recognized member of the Spices Board of India, and well known in the market as a brand synonymous to ultimate quality standard, total customer satisfaction, reasonable price and efficient customer support services. At present, their concern also has a sister concern 'Vidur Exports' which further empowers us and helps them cater to the requirements of their highly esteemed clients.
Their Product Range
Subject is a globally reputed business entity backed with more than 6 decades of rich industry experience. They an exporter and importer offering the following range of products-
v Spices (Whole and Ground)/ Seed (Oil Seeds & Medical Seeds): Asafoetida, Black Cumin Seeds, Black Pepper Whole and Ground, Cardamom (Green, White & Black), Celery Seeds, Corriander (Whole and Ground), Cumin Seeds, Curry Powder, Dill Seeds, Fennel Seeds, Fenugreek Seeds, Ginger (Bleached & Unbleached), Ground Nuts (HPS), Parsley Seeds, Red Chili (Whole and Ground), Sesame (Hulled and Natural), Turmeric (Whole and Ground), etc.
v Medicinal Herbs: Cassia Powder, Heena Leaves and Powder, How Bark, Hydrocotyle Asiatica Herb, Kaempferia Galanga, Kamla Powder, Lepidium Sativum, Myrobalans (Yellow and Black), Ocimum Pilosum, Passiflora Herbs,Psolarea Seeds, Psyllium Husk and Powder, Rhus Sussedanea, Rose Petals, Safflower, Senna Leaves, Senna Pods, Sida Cordifolia, Valerian Roots with Rootlets, Zeodary Roots, etc.
v Products Imported: Cloves, Wet Dates, Nutmeg, Cassia, Star Aniseed, Caraway Seed, Gum Copal, Mace, Long Pepper, Cubebs, Gum Rosin, Tartaric Acid, Citric Acid, Gambiar, Botanical Herbs, Leadore, Carnauba Wax, Dry Dates, Dry Fruits, Almonds, Walnuts, Raisins, White Poppy Seeds, Pellitory Roots, Petroleum Wax, etc.
Their Quality
At Subject, they have adopted a strategically designed Quality Management
System. They follow a well defined quality policy with the goal to achieve the
quality objectives set by their experts. They focus all their efforts upon a
single goal- to earn the trust of their clients availing them the products and
services of unmatched quality. Their concern has employed agents at the
production centers spread all over India. Raw materials are procured directly
from these centers and then they are cleaned, re-cleaned & graded under the
supervision of their quality experts. Product packaging is done adhering to the
international quality standards to ensure that they can be stored for a long
time without any loss in weight and quality. We are also well aware of the
various corp standards and can suggest their buyers what product to buy from
which origin, and advise what quality is good for them.
Their Strengths:
v More than 6 decades of rich industry experience
v A strong team of agents to procure raw materials from various production centers spread all over the country
v A sophisticated warehousing facility
v World class R&D facilities
v A widespread business network
v Guaranteed quality at reasonable price, along with efficient product delivery.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.35 |
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UK Pound |
1 |
Rs. 80.52 |
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Euro |
1 |
Rs. 57.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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. |
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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