MIRA
INFORM REPORT
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Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
NOSCH LABS PRIVATE LIMITED |
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Registered Office : |
Flat No. 201 & 202, Bhanu Enclave, 7-1-638 to 643/1, Sunder Nagar, Erragadda, Hyderabad – 500 038, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.06.2001 |
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Com. Reg. No.: |
01-37086 |
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CIN No.: [Company
Identification No.] |
U24231AP2001PTC037086 |
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Ss |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDN00704E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Bulk Drugs and Intermediates. |
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 909784 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Profit margin is under pressure. Trade relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Flat No. 201 & 202, Bhanu Enclave, 7-1-638 to 643/1, Sunder Nagar, Erragadda, Hyderabad – 500 038, Andhra Pradesh, India |
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Tel. No.: |
91- 40-23818065 / 23704075 / 23818059 / 23818068 |
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Fax No.: |
91-40-23818059 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : |
Bonthapally, Hyderabad, Andhra Pradesh, India |
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Location : |
Owned |
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Factory 2 : |
5-5-35/33/3, Prashanthi Nagar, IDA, Kukatpally, Hyderabad – 500 072, Andhra Pradesh, India |
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Location : |
Owned |
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Factory 3: |
Survey No.14, IDA Gadda Potharam Village, Kazipally
Jinnaram, Medak District, Andhra Pradesh-500319, India |
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Location : |
Owned |
DIRECTORS
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Name : |
Dr. Bhimireddy Satyanarayana Reddy |
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Designation : |
Managing Director |
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Address : |
Plot No. 10 B,
Srinivasa Nagar Medical Society, Water Tank Lane, Kukatpally, Hyderabad,
Rangareddy, Andhra Pradesh – 500072 |
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Date of Birth/Age
: |
14.01.1964 |
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Date of Casing
: |
01.10.2006 |
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Date of
Appointment : |
01.10.2001 |
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Name : |
Mr. Desireddy Kesava Reddy |
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Designation : |
Whole Time Director |
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Address : |
Flat No. T 1, plot
No. 144, OM Shakti Towers, Moti Nagar, Erragadda, Hyderabad, Rangareddy,
Andhra Pradesh – 500072 |
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Date of
Birth/Age : |
02.06.1960 |
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Date of Casing
: |
27.06.2005 |
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Date of
Appointment : |
01.10.2001 |
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Name : |
Mr. Dodda Vera Venkata Satyanarayana Reddy |
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Designation : |
Director |
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Address : |
A / Pujithaapts,
Sunder Nagar, Hyderabad, Rangareddy, Andhra Pradesh – 500038 |
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Date of
Birth/Age : |
10.06.1917 |
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Date of
Appointment : |
01.10.2001 |
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Name : |
Mr. Tummuru Rajasekhar Reddy |
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Designation : |
Whole Time Director |
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Address : |
Plot No. 15 B,
Srinivasa Nagar Medical Society, Water Tank Lane, Kukatpally, Hyderabad,
Rangareddy, Andhra Pradesh – 500072 |
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Date of
Birth/Age : |
19.02.1973 |
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Date of
Appointment : |
01.10.2001 |
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Name : |
Ch. Venkata Nageswara Rao |
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Designation : |
Director |
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Address : |
Plot No. 1,
Sirishaapts, Yellareddyguda, Hyderabad, Rangareddy, Andhra Pradesh – 500073 |
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Date of
Birth/Age : |
15.10.1948 |
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Date of Casing
: |
15.09.2003 |
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Date of
Appointment : |
21.02.2003 |
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Name: |
Gustavo Daniel Lorenzo Pelizzari, Foreigner |
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Designation : |
Director |
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Address : |
Calle Costa Brava, 24, Madrid - 28034 |
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Date of Birth/Age : |
07.09.1972 |
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Date of Appointment : |
22.06.2006 |
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Name: |
Ms. Lsabel Alcalde Giraudo, Foreigner |
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Designation : |
Director |
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Address : |
Calle Nueva 16, Las Rozas, Madrid - 28231 |
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Date of Birth/Age : |
07.08.1969 |
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Date of Appointment : |
22.06.2006 |
KEY EXECUTIVES
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Name : |
B Sathya Reddy |
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Designation : |
Company Secretary
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Name: |
G. P. Chowdhury |
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Designation : |
General Manager
(Marketing) |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Dr. Bhimireddy Satyanarayana Reddy |
225000 |
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Mr. Tummuru Rajasekhar Reddy |
93750 |
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Mr. Dodda Vera Venkata Satyanarayana Reddy |
116750 |
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Bhimireddy Vijayalakshmi |
45000 |
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Mr. Bhimireddy Goutham Reddy |
15000 |
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Mr. Bhimireddy Vivek Reddy |
15000 |
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Mr. Bhimireddy Gopi Reddy |
7500 |
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Mr. Bhimireddy Kanthamma Reddy |
7500 |
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Mr. Tummuru Rajasekhar Reddy |
30000 |
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Tummuru Radhadevi |
33750 |
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Mr. Tummuru Venkatarami Reddy |
30000 |
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Mr. Tummuru Avinash Reddy |
15000 |
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Dodda Madhavi |
33750 |
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Dodda Vijaya Spandana |
29500 |
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Konda Dayakar
Reddy |
3000 |
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Appala Ramprasad |
7500 |
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Mandapati
Satyanrayaa A Reddy |
7500 |
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Mandapati Shobarani
|
7500 |
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Mandapati
Krishina Reddy |
1875 |
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Attunuri Nivasa
Reddy |
1875 |
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Bhimireddy China Krishna Reddy |
1875 |
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Attunuri Venkata
Reddy |
1875 |
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Dodda Vijay
Samhita |
16250 |
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Gali Pradeep
Chodhyry |
1500 |
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Kanubadhula
Sangeetha |
1000 |
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Chennareddy
Sasidhar Reddy |
750 |
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Desireddy Umadevi
|
15000 |
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Miryala Srinivasa
Rao |
2250 |
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Danda Venkatrami
Reddy |
4500 |
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Mandapati
Malavika |
7500 |
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Mandapati Sushma |
11250 |
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Gaddam Srinivasa
Reddy |
3000 |
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Chilukuri Sridhareddy
|
3000 |
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Bhimireddy
Srinivasa Reddy |
3000 |
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Munnagi Kishore
Reddy |
3000 |
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Mahadeva Veera
Bhramha Chary |
4500 |
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Bhimireddy
Satyanarayana Reddy |
3750 |
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Verram lavanya |
7500 |
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Verram Bharat
Reddy |
11250 |
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Bhimireddy Anitha
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6250 |
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Desireddy Dhamani
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12500 |
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Desireddy Umadevi
|
7500 |
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Bhimireddy
Krishnareddy |
25000 |
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Desireddy
Neehareddy |
15000 |
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Desireddy
Kesavareddy |
25000 |
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Mandapati
Kishorereddy |
15000 |
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Desireddy Dhamani
|
7250 |
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Desireddy
Kesavareddy |
47500 |
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Desireddy
Kesavareddy |
2500 |
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Mandapati
Kishoreddy |
7500 |
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Bhireddy
Krishnareddy |
12500 |
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Desireddy
Neehareddy |
7500 |
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Category |
Percentage |
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Foreign holding(Foreign
institutional investor(s),Foreign Companies(s), Foreign financial
institution(s), Non-resident indian(s), or Overseas corporate bodies or other |
40.00 |
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Directors or
relatives of directors |
60.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Carry on the business of manufacture, process, sell, buy, deal, export & import in all types of drugs, drug intermediates, pharmaceutical & medical preparations, chemical and other. The company is also engaged in connected materials and to obtain patents for them |
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Products : |
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PRODUCTION STATUS
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Particulars |
Installed Capacity |
Actual Production |
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Bulk Drugs and
Intermediates (Manufactured
goods) |
150 MT (varies based on product Mix as certified by Management) |
133963.83 Kgs |
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Formulations |
-- |
9057600 |
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GENERAL
INFORMATION
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Suppliers : |
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No. of Employees : |
Around 160 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Chartered Accountants |
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Address : |
D No. 8-3-941, Flat No. 504, Vijayashree Apartments, Opposite Kamma Sangam, Ameerpet, Hyderabad – 500073, Andhra Pradesh, India |
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Chartered Accountants |
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Address: |
Flat No. 205, Second Floor, B-Block, Khushal Towers, Khiratabad, Hyderabad – 500004, Andhra Pradesh, India |
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Tel No.: |
91-40-23320558/23393381 |
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Fax No.: |
91-40-23393381 |
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Email: |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity shares |
Rs.10/- |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1333333 |
Equity shares |
Rs.10/- |
Rs.13.333 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
13.333 |
8.000 |
8.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
214.113 |
64.497 |
37.376 |
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4] (Accumulated Losses) |
0.0000 |
0.000 |
0.000 |
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NETWORTH |
227.446 |
72.497 |
45.376 |
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LOAN FUNDS |
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1] Secured Loans |
49.853 |
68.829 |
51.035 |
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2] Unsecured Loans |
0.000 |
0.000 |
2.650 |
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TOTAL BORROWING |
49.853 |
68.829 |
53.685 |
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DEFERRED TAX LIABILITIES |
12.209 |
8.769 |
5.658 |
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TOTAL |
289.508 |
150.095 |
104.719 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
106.702 |
84.907 |
77.742 |
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Capital work-in-progress |
15.478 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
92.537
|
67.385
|
41.366
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Sundry Debtors |
164.415
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121.586
|
57.868
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Cash & Bank Balances |
24.587
|
2.523
|
1.396
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Other Current Assets |
24.219
|
32.046
|
0.000
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Loans & Advances |
2.663
|
4.735
|
23.033
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Total
Current Assets |
308.421
|
228.275 |
123.663
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
119.449
|
137.882
|
91.713
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Provisions |
21.657
|
25.242
|
5.043
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Total
Current Liabilities |
141.106
|
163.124 |
96.756
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Net Current Assets |
167.317
|
65.151 |
26.907
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MISCELLANEOUS EXPENSES |
0.010 |
0.036 |
0.070 |
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TOTAL |
289.508 |
150.095 |
104.719 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
615.147 |
526.095 |
345.643 |
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Other Income |
17.450 |
0.000 |
0.000 |
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Total Income |
632.597 |
526.095 |
345.643 |
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Profit/(Loss) Before Tax |
99.479 |
54.053 |
20.690 |
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Provision for Taxation |
24.772 |
18.810 |
7.429 |
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Profit/(Loss) After Tax |
74.707 |
35.243 |
13.261 |
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Earnings in Foreign Currency : |
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Export Earnings |
373.469 |
258.967 |
104.560 |
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Commission Earnings |
0.000 |
0.000 |
0.000 |
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Other Earnings |
0.020 |
0.056 |
0.000 |
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Total Earnings |
373.489 |
259.023 |
104.560 |
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Imports : |
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Raw Materials |
69.278 |
61.400 |
25.921 |
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Stores & Spares |
0.000 |
0.000 |
0.000 |
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Capital Goods |
3.283 |
0.750 |
0.000 |
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Others |
0.000 |
0.000 |
0.000 |
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Total Imports |
72.561 |
62.150 |
25.921 |
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Expenditures : |
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Interest |
0.000 |
0.000 |
0.000 |
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Insurance Expenses |
0.000 |
0.000 |
0.000 |
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Power & Fuel |
0.000 |
0.000 |
0.000 |
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Financial Charges |
9.271 |
9.721 |
0.000 |
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Depreciation & Amortization |
5.088 |
4.257 |
0.000 |
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Other Expenditure |
0.000 |
0.000 |
324.953 |
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Total Expenditure |
14.359 |
13.978 |
324.953 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
11.81
|
6.70 |
3.84
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Net Profit Margin (PBT/Sales) |
(%) |
16.18
|
10.28 |
5.99
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Return on Total Assets (PBT/Total Assets} |
(%) |
23.97
|
17.26 |
10.27
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Return on Investment (ROI) (PBT/Networth) |
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0.44
|
0.75 |
0.46
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Debt Equity Ratio (Total Liability/Networth) |
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0.83
|
3.19 |
3.32
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Current Ratio (Current Asset/Current Liability) |
|
2.18
|
1.39 |
1.28
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LOCAL AGENCY
FURTHER INFORMATION
Form
8
|
Corporate
identity number (CIN) Foreign company registration number |
U24231AP2001PTC037086 |
|
Name of the
Company |
NOSCH LABS PRIVATE LIMITED |
|
Address |
Flat No. 201-202, Bhanu Enclave, 7-1-638 to 843/1, Sunder Nagar, Erragadda, Hyderabad – 500 038, Andhra Pradesh, India |
|
This form is for |
Modification of
Charge |
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Type of Charge |
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Particulars of the
charge holder |
Axis Bank Limited 6-3-879/B,
Greenlands Road, Begumpet, Hyderabad – 500016, Andhra Pradesh, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
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Date of the
instrument creating or modifying the charge |
13.12.2006 |
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Amount secured by
the charge |
Rs.223.000
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
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Short particulars
of the property charged (including location of the property) |
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Particular of the
present modification |
The Loan Amount
has increased from Rs. 123.000 Millions to Rs.223.000 Millions Interest rate
has charged at 11.00 p.a. on cash credit. |
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Presented
By |
Dr. Bhimireddy Satyanarayana Reddy Managing Director |
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1)
Date and description of instrument creating the change |
Date :
08.04.2002
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2)
Amount secured by the charge/amount owing on the securities of charge |
Rs. 7.000 Millions Facilities Limit Cash
Credit (Sub
Limit PC)
Rs.3.500 Millions Biils
Discounting
Rs.1.000 Millions (Inland/Foreign) Foreign
letter of Credit
Rs.2.000 Millions Bank
Guarantee Rs.0.500 Million Total:
Rs. 7.000 Millions |
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3)
Short particular of the property charged. If the property acquired is subject
to charge, date of the acquired of the property should be given |
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4)
Gist of the terms and conditions and extent and operation of the charge. |
C C
Rate of Interest 14% (PLR+2%) Rate of Interest linked to PLR, Subject to change from time to time |
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5)
Name and Address and description of the person entitled to the charge. |
Axis
Bank Secunderabad
Branch, Rastrapathy Road, Secuenderabad - 3 |
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6)
Date and brief description of
instrument modifying the charge |
Nil |
|
7)
Particulars of modifications specifying the terms and conditions or the extent
of operations of the charge in which modification is made and the details of
the modification. |
Nil |
Website details:
Subject
is amongst the foremost names in the pharmaceutical business today. It has carved
a distinct niche for itself in the areas of continuous R and D, and the
manufacture and marketing of Active Pharmaceutical ingredients, Intermediates
and Chemicals.
Subjectss has emerged as the partner of choice of many transnational and
multinational pharmaceutical companies in Asia, Africa, Middle East, South
America and parts of Europe. A tribute to its ability in sucessfully bringing
about a unique blen of quality and cost effectiveness.
'Making
the world a healthier place'
This is
the dream that drives us at subject. The laudable goal that we aim for. The
vision that suffuses them with the passion to innovate and excel.
Over
the past five years, they have been ceaselessly engaged in a quest to sustain
and improve the quality of life through creating safe pharmaceutical solutions.
Their competencies have grown to embrace the entire pharmaceutical value chain
API's, Intermediates and Semi-finished Formulations.
Today,
with an impeccable reputation for uncompromising quality and timely delivery, Subject
has emerged as the partner of choice of many transnational and multinational
pharmaceutical companies in Asia, South America, Europe and the Middle
East.Nosch is ISO 9001-2000 accredited and has WHO GMP certification for
semifinished formulations.
Production
Prowess
Subject
manufacturing operations span across 2 units in the south Indian state of
Andhra Pradesh. While one is a dedicated API Unit, the other concentrates on
Semi-finished Formulations/Pellets. The plants built and operated in conformance
with the latest CGMP norms, house R and D labs, technical services, quality
control, quality assurance and regulatory affairs and are regularly inspected
and approved by major customers from around the world.
The state-of-the-art
equipment and instruments provide us the necessary competitive edge on the
global state. Moreover, the infrastructure with its optimum installed
capacities and capital costs, lends us a sustainable cost advantage.
R
and D an eye to the future
At
present, our R and D activities are focused on process development. The
sophisticated labs, manned by a talented, well-qualified team of professionals,
develop proprietary process for organic and custom-made intermediates. The
department plays on active role in the selection of new products and charting
non-infringing routes for manufacturing the same.
One of
the main keys to subject success has been the development and launch of
products at the right time, in the right form and at the right price. An
operation our R and D department enables us to perform to perfection, time
after time!
To take
on the challenges of the future, an advanced Research Centre is fast taking
shape at Hyderabad. Its aim: to discover breakthrough pharmaceutical solutions
in select therapeutic areas by harnessing cutting-edge technology.
Committed
to Customer Delight
They
believe in forging strong bonds with their customers through delivery of
products on time, cost-effectively and securely. Quick response time, comprehensive
technical support and top-notch quality products have seen Nosch record a
healthy turnover of US$ 15.2 million, with export sales accounting for US$ 9.5
million.
While the product portfolio is focused on Anti-ulcerative's, which contribute
to 50% of the company's turnover, they also have CTD's and Technical
Documentation for numerous products.
Since the products are manufactured right from the basic to the penultimate
stage, they are strategically positioned to supply any intermediate adhering to
the customers specifications.
Strength
in Formulations
Subject
has acquired the necessary expertise to develop formulations for various
products like Orlistat Pellets and Tamsulosin SR Pellets. They look forward to
successfully partnering you in your formulation development projects.
Team
Strength
The
true prized assets at Nosch, are their people. Highly motivated and trained,
they reflect a perfect blend of zeal and commitment. Sensitive to the needs of
customers and proactive with solutions, they rise to meet the challenges of a
constantly changing pharma world with a competitive spirit and a winner's
attitude. In fact, the superior technical and innovative capabilities of our
team lend us the confidence of emerging as a major player in the international
arena.
Caring
for the environment
As a
responsible social citizen, protecting the environment is an issue that is
close to their heart. They have made substantial investment in installing the
latest pollution control equipment to keep pollution levels to the absolute
minimum. A green belt of lush vegetation around the plants lends a scenic
setting.
To
conclude, we are determined to forge strong bonds with customers. Through
continuous improvement in performance. Delivering products that meet individual
specifications. And operating in an efficient, cost-effective and
quality-driven manner.
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 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.68 |
|
UK Pound |
1 |
Rs.82.11 |
|
Euro |
1 |
Rs.58.81 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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
|
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. |
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 |
|