MIRA
INFORM REPORT
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Report Date : |
01.10.2007 |
IDENTIFICATION DETAILS
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Name : |
OUTLOOK PUBLISHING INDIA PRIVATE LIMITED |
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Registered Office : |
Rahejas Corner of |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.04.1992 |
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Com. Reg. No.: |
66495 |
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CIN No.: [Company
Identification No.] |
U67120MH1992PTC066495 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELO01764A |
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PAN No.: [Permanent
Account No.] |
AAACB0664J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in Printing and Service activities related to
printing |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
-- |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a publisher of magazine OUTLOOK. Trade relations are fair.
Company’s profitability is under severe pressure. It has huge accumulated
losses. Payments are reported as slow and delayed. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
|
Registered Office : |
Rahejas Corner of |
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Tel. No.: |
91-22-56951111 |
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Fax No.: |
91-22-56942922 |
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E-Mail : |
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Head Office : |
AB – 10, Safdarjung Enclave, |
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Tel. No.: |
91-11-26191421 / 236 / 237 / 262 / 91-11-26100722 / 91-26100723 /
41021194 |
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Fax No.: |
91-11-6191420 |
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E-Mail : |
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Branches : |
Ř
Mumbai, Tel. No.: 91-30612222 Fax No.: 91-22-22830664 Ř
Kolkata, West Tel. No.: 91-33-40085011 to 5015 Fax No.: 91-33-22823593 Ř
Chennai, Tel. No.: 91-44-24661134 / 24662316 Fax No.: 91-44-24662873 Ř
Tel. No. 91-80-25582806 / 07 Fax No.: 91-80-25582810 Ř
Tel No.: 91-40-2337-5776 Fax No.: 91-40-23375676 |
DIRECTORS
|
Name : |
Mrs. Suman R Raheja |
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Designation : |
Director |
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Address : |
Rahejas 87 / 1, G B Marg, Juhu, Mumbai 400 049, Maharashtra, |
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Date of Birth/Age : |
06.08.1964 |
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Date of Appointment : |
23.04.1992 |
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Name : |
Mr. Dr. Biharilal Sewaram Raheja |
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Designation : |
Director |
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Name : |
Mr. Gopal Madhavdas Narang |
|
Designation : |
Director |
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Address : |
41, |
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Date of Birth/Age : |
03.12.1963 |
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Date of Appointment : |
28.03.1996 |
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|
Name : |
Mr. Anchery Unnikrishnan |
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Designation : |
Director |
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Address : |
708 / B, Brindaban II, Near Poonam Nagar, Andheri (East), Mumbai, |
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Date of Birth/Age : |
19.01.1956 |
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Date of Appointment : |
02.05.1995 |
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Name : |
Mr. Anthony Castelino |
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Designation : |
Director |
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Address : |
701, Hibiscus B, Plot No. 1189, Off |
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Date of Birth/Age : |
10.05.1958 |
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Date of Appointment : |
28.03.1996 |
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Name : |
Mr. B S Raheja |
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Designation : |
Director
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Name : |
Mr. Akshay Raheja |
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Designation : |
Director |
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Address : |
Rahejas, 87 / 1, G B Marg, Juhu, Mumbai 400 049, |
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Date of Birth/Age : |
25.05.1982 |
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Date of Appointment : |
23.08.2002 |
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Name : |
Mr. Viren Raheja |
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Designation : |
Director |
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Address : |
Rahejas, 87 / 1, G B Marg, Juhu, Mumbai 400 049, |
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Date of Birth/Age : |
13.06.1984 |
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Date of Appointment : |
21.07.2004 |
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Name : |
Mr. Rajan Biharilal Raheja |
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Designation : |
Director |
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Address : |
Rahejas, 87 / 1, G B Marg, Juhu, Mumbai 400 049, |
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Date of Birth/Age : |
19.06.1953 |
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Date of Appointment : |
30.08.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mrs. Suman R Raheja |
|
11 |
|
Mr. Rajan B Raheja |
|
11 |
|
Mr. Rajan B Raheja |
|
1661011 |
|
Mr. Akshay R Raheja |
|
793100 |
|
Mr. Viren R Raheja |
|
754600 |
|
Matsyagandha Investments and Finance Private Limited |
|
785367 |
|
Varahagiri Investments and Finance Private Limited |
|
746900 |
|
Coronet Investments Private Limited |
|
2193400 |
|
Bloomingdale Investment and Finance Private Limited |
|
1895300 |
|
Manali Investment and Finance Private Limited |
|
2170300 |
Equity share breakup (percentage of total equity)
|
S. No. |
Category |
Percentage |
|
1 |
Bodies corporate (not mentioned above) |
71.00 |
|
2 |
Directors ore relatives of directors |
29.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Printing and Service activities related to
printing |
GENERAL INFORMATION
|
Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
G M Kapadia and Company Chartered Accountants |
|
Address : |
Tamarind House, 36 B, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1200000 |
Equity shares |
Rs. 10/- each |
Rs. 12.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1100000 |
Equity shares |
Rs. 10/-
each |
Rs. 11.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
11.000 |
11.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(573.085) |
(470.164) |
|
|
NETWORTH |
|
(562.085) |
(459.164) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
151.002 |
150.284 |
|
|
2] Unsecured Loans |
|
725.929 |
698.629 |
|
|
TOTAL BORROWING |
|
876.931 |
848.913 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
314.846 |
389.749 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
118.273 |
65.903 |
|
|
Capital work-in-progress |
|
0.000 |
15.213 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.105 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
34.912 |
27.269 |
|
|
Sundry Debtors |
|
184.739 |
184.345 |
|
|
Cash & Bank Balances |
|
5.612 |
5.181 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
76.475 |
45.123 |
|
Total
Current Assets |
|
301.738 |
261.918 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
228.776 |
204.396 |
|
|
Provisions |
|
2.843 |
1.587 |
|
Total
Current Liabilities |
|
231.619 |
205.983 |
|
|
Net Current Assets |
|
70.119 |
55.935 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
126.349 |
252.698 |
|
|
|
|
|
|
|
|
TOTAL |
|
314.846 |
389.749 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
(1.97) |
(2.29) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.30 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
As Per Web
Details:
About Them:
It's an entrepreneurial journey that has spanned both 'old' and 'new'
economies -- building successful brick-and-mortar businesses to exploring the
frontier world of convergence technologies. About a quarter-century before the
onset of the ICE age, the Rajan Raheja Group made its beginning in the
construction business. After building a huge presence in the realty market, the
Group diversified laterally into manufacturing, financial services and media --
each venture initiated, and executed, to fulfil the objective of assuming
leadership in core areas.
The list of the Group's successes is long and eclectic. Today, H&R
Johnson (
The Group also joined hands with Oberoi Hotels as co-promoters of
Trident Hotels and luxury resort Rajvilas, which Conde Nast Traveller ranked as
one of the 25 best villa hideaways in the world.
Other triumphs include Templeton Asset Management (
Outlook: In October 1995, group company Hathway Investments Private Limited
entered the print media. Outlook, a weekly newsmagazine headed by Vinod Mehta,
galvanised a sluggish market reeling under the impact of satellite TV. Outlook
quickly carved a significant niche for itself among discerning readers who
value its in-depth, investigative reporting as well as its stylish visual
format. Known to be fiercely independent, Outlook has shaken the establishment
on events ranging from Kargil to Kashmir to cricket, sensitised the reading
public to important issues like big dams, education and gender, and provided an
unremitting focus on South Asian geopolitics. Today, Outlook is the preferred
magazine of 1.5 million readers in
Outlook Money: In July 1998, the Group launched
"Intelligent Investor" re-christened as "OUTLOOK MONEY" as
of 30-Nov-2002, India's first personal finance magazine, which offers sound
strategies for the lay investor, especially the growing segment of salaried
middle and upper middle-class and self-employed professionals. Its message is
clear and simple: 'Invest well, borrow wisely, spend smartly'. Evidently, that
message has gone down well: the magazine sold upwards of 1,00,000 copies a
fortnight within a year. One of its distinguishing characteristics is that
about 93 per cent of readers retain all past issues of Outlook Money.
Outlook Traveller: Outlook Traveller is a monthly magazine from the
stable of Outlook Publishing India Pvt. Limited and the only significant
magazine aimed at the travel reader. Every month since June 2001 OT has
introduced readers to the wonders of unknown destinations while also
encouraging travellers to take a fresh look at familiar places. Whether people
are planning a holiday, or simply dreaming of one, Outlook Traveller continues
to take them closer.
Outlook Saptahik: Outlook Saptahik, a weekly newsmagazine, was
launched in October 2002 to establish significant presence amongst the vast Hindi
reading audience. The product targets the evolved Hindi reader keeping their
interests, realities & aspirations in mind. Outlook Saptahik retains the
core strengths of Outlook with objective, fiercely impartial and bold
journalism, while brandishing its own identity through a strong parallel
editorial. The magazine is empathetic to its target audience & is not a
translation of its English counterpart.
outlookindia.com: In 1998, Outlook went online as
outlookindia.com, drawing into its fold the vast, nascent readership of
expatriate Indians. outlookindia.com is both Outlook magazine's home on the
Internet and an online publication. Apart from Outlook's print edition in its
entirety - supplemented with links to related articles on its own site and
elsewhere on the Web - outlookindia.com also offers an array of original
Web-only columns and and news updates every day with a very lively interactive
section.
outlooktraveller.com: Inaugurated as a web resource in 2000, this travel
Website has since come a long way. Outlooktraveller began by opening up new
vistas in web-driven vacation planning, with its highly focused editorial
features on an array of destinations. Still a highlight of the website, these
are supported by tools and resources that make putting together the holiday a
breeze ? from selecting the destination, to choosing the mode of transport,
finding the way around the map, selecting a place to stay to catching the local
festivities, plus ferreting out the nearest ATM, fuel stop or cybercafe. Here
there is something for everyone; themed vacation ideas from 'A for adventure'
to 'W for wildlife', honeymooners dream destinations, foodies delights, first-person
travelogues, a message room where you can exchange notes or ask them for more
info that you want? And don't forget to book the copies of their international
award-winning bestsellers from Outlook Traveller Getaways, available at a
special price when you order on the website. If you want a sneak preview,
there're excerpts from the guide books by renowned authors, including the likes
of Prabhu Ghate, Ruskin Bond and Jug Suraiya.
outlookmoney.com: outlookmoney.com takes forward the
philosophy and beliefs ushered in by Intelligent Investor (the personal finance
magazine that was launched in mid-1998, now known as Outlook Money). The site
has six channels -- Stocks, Mutual Funds, Loans, Retirement Planning, Taxation
and Insurance -- that address broad areas of the personal finance spectrum.
Outlookmoney.com comes with many interactive tools. The Loans channel alone
sports calculators that do all the number crunching a visitor may want on home,
car, personal or equity loans. outlookmoney.com seeks to provide total
solutions to personal finance issues -- from disseminating information to
providing avenues for e-commerce transactions.
OUTLOOK TRAVELLER GETAWAY GUIDES
After successful detour into travel with their travel monthly magazine
"OUTLOOK Traveller", the concept of a series "OUTLOOK traveller
Getaways" was conceived to provide authentic, well researched information
compiled into "topical" reference books.
Getaways has produced a range of travel guides for the Indian traveller,
beginning with the prize-winning best-seller Weekend Breaks from
Outlook Traveller Getaway Series
52 Weekend breaks from
Ř
Weekend breaks from
Ř
Weekend breaks from Mumbai: April 2003
Ř
Weekend breaks from
Ř
Holidays in the Hills: June 2003
Ř
Heritage Holidays in North &
The Layman's Guide to Insurance
The Layman's Guide to Insurance lets you in on facts most insurers
and agents shy away from. A handy book to have by the side while buying all
kinds of life and non-life insurance, it explains the covers relevant to you,
tells you how much to buy, points out the fine print and gives useful tips so
that you get the money's worth of insurance.
The Layman's Guide to Mutual
Funds
The Layman's Guide to Mutual Funds tells you everything you need to know to
hitch a profitable ride on these low-maintenance investment vehicles: the
expansive bouquet of products on offer, the important investment decisions you
need to make, the strategies to adopt to squeeze out extra returns, the players
in the market, and much more.
Ř
Department of Tourism, Government of India Award,
National Tourism Award 2001-2002 awarded to OUTLOOK Traveller for Excellence in
Publication.
Ř
OUTLOOK Traveller " 75 Holidays in the Hills"
won the 2004, PATA Gold Award
Ř
In 2002-2003 the Government of India recognized
"Outlook Traveller Getaways" as the " Best Travel
Publication".
Ř
Weekend breaks from
Ř
Weekend breaks from Mumbai was in the BESTSELLERS
list top three for 8 consecutive weeks in
Outlook Money Awards:
The awards started in 2002, and are presented to the best in the
following key personal areas:
Ř
Value-Creating Companies
Ř
Wealth Creators(Mutual Funds)
Ř
Banks
Ř
Insurers
Ř
Online Brokers
Ř
Home Financiers
Ř
Hall of Fame
The ceremony for 2003 was held in Mumbai and
was presided over by The Hon'ble Finance Minister; Mr Jaswant Singh.
EDITOR-IN-CHIEF
Vinod Mehta
President & Publisher: Maheshwer Peri
Executive Editor: Bishwadeep Moitra
Business Editor: Alam Srinivas
Features Editor: Nandini Mehta
Foreign Editor: Ajaz Ashraf
Senior Editors: Ajith Pillai, Sunil Menon, Anjali Puri
Political Editor: Smita Gupta
Bureau Chiefs: Saba Naqvi Bhaumik (
Books Editor: Sheela Reddy
Deputy Foreign Editor: Seema Sirohi
Assistant Editors: Satish Padmanabhan, Namrata Joshi, Manisha Saroop
www.outlookindia.com
Executive Editor: Sundeep Dougal
Technical Manager (I.T):
Mairaj Haider
Software Engineers: Anwar
Ahmad Khan, Manav Mishra
Web Designer: Praveen
Uprety
Senior Special Correspondents:
Arindam Mukherjee, Lola Nayar, G. Rajaraman, Anuradha Raman, Bhavna
vij-Aurora
Special Correspondents:
Saikat Datta
Correspondent:
Shruti
Ravindran, Raghu Karnad, Debarshi Dasgupta
Mumbai: Payal
Kapadia, Shuchi Srivastava, Meenakshi Reddy Madhavan
Kolkata: Jaideep Mazumdar
Copy Desk:
Sasi Nair, T.K. Sreevalsan, Paromita Mukhopadhyay, Saikat Niyogi
Photographers:
T. Narayan (Photo Editor), Jitender Gupta (Chief Photographer), Sanjoy
Ghosh, Narendra Bisht, Atul Loke, Tribhuvan Tiwari, Srikant Kolari,
Swapan Nayak, Dinesh Parab, Rahul Surve
S. Rakshit (Senior Coordinator)
Design:
Deepak Sharma (Art Director), Tanmoy Chakraborty (Infographist), Bonita Vaz,
Devi Prasad, Padam Gupta
Promotions: Ashish Rozario
Illustrator: R. Prasad, Sandeep Adhwaryu
Editorial Manager: Sasidharan Kollery
Library: Alka Gupta
Business Office:
VICE PRECIDENTS: Suresh Selvaraj,
Indranil Roy
Assistant Vice President: Alok Mathur
General Managers:
Anup Dwivedi (Production & Systems), Vidya Menon (Advertising)
Deputy General Manager: Gaurav Vashisht
National Heads:
Himanshu Pandey (Business Development), Alex Joseph (Retail), Gitanjali
Singh (Marketing)
Regional Managers:
Anand Shirali, Arokia Raj, Arun Singh, Swaroop Rao, Moushumi
Banerjee Ghosh, Rakesh Mishra, Uma Srinivasan, Yogesh Mohan
Senior Managers: B.S. Johar, Kabir
Khattar, Mohit Sharma, Runa Sinha
Managers:
Anita
Sutrave, Anjeet Trivedi, Basab Ghosh, Chetan Budhiraja, D.R. Wadhwa, Darryl
Arahna, Mukesh Lakhanpal, Pankaj Sahni, P.S. Rawat
Associate Managers:
A.G. Subramaniam, Bobby Mathews, Chetana Shetty, K. Srikkanth, Sanjay
Narang, Shashank Dixit, Shekhar Pandey, Vinod Joshi
Printed and published by Maheshwer Peri on behalf of subject
Editor: Vinod Mehta. Printed at IPP Limited,
Phase-II, Noida and published from AB-10, S.J. Enclave, New Delhi-110 029
Customer Relations
Suvidha
Singh
Head Customer Relations
AB-10 Safdarjung Enclave
Ph: 011-26191421
Fax: 011-26191420
Subscriptions
Mr.
Vinod Joshi
Manager Subscription
AB-5 Safdarjung Enclave
Ph: 011-26191421
Fax: 011-26191420
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 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.39.73 |
|
|
1 |
Rs.81.37 |
|
Euro |
1 |
Rs.56.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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 |
|