MIRA
INFORM REPORT
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Report Date : |
22.10.2007 |
IDENTIFICATION DETAILS
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Name : |
CLARK DIAMONDS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
06/09/1984 |
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Com. Reg. No.: |
01846352 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Diamond merchants |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company
Identification Details
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Subject Reported on |
CLARK DIAMONDS LIMITED |
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Trading Address |
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Telephone |
0121-236-1724 |
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Very Low Risk - There is every confidence this company
will prove good for the assigned Credit Limit |
Official Company
Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
01846352 |
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Date of Incorporation |
06/09/1984 |
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Registered Office |
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Date of Last Annual Return to Registry |
19/01/2007 |
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Activities |
Diamond merchants |
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Accounts |
The last filed accounts cover the period to 30/06/2006 and were filed
on 30/01/2007 |
Recently Filed
Documents
Details of the most recent documents
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Date Received |
Description |
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19/01/2007 |
Annual Return |
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30/06/2006 |
Financial Statement / Set of Accounts |
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It should be noted that there is no legal requirement to file
satisfaction details of mortgages/charges at Companies House. |
Known Directors
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DIRECTOR |
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Occupation |
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Address |
REDHILL HOUSE , |
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Country of Origin |
BRITISH |
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Date of Birth |
24/03/1954 |
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Appointment Date |
19/01/1993 |
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Other Appointments |
CLARK DIAMONDS LIMITED, HOCKLEY GEMS LTD |
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SECRETARY |
MS LYNN RICHARDSON |
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Address |
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Country of Origin |
BRITISH |
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Appointment Date |
01/11/2003 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
ROY NEVIL WETTON |
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Occupation |
DIRECTOR |
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Address |
34 , SHARRAT FIELD , SUTTON COLDFIELD , |
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Country of Origin |
BRITISH |
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Date of Birth |
18/05/1941 |
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Resignation Date |
31/03/2004 |
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DIRECTOR |
PETER CLARK |
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Occupation |
DIAMOND MERCHANT |
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Address |
38 , |
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Resignation Date |
19/01/1990 |
Share Summary
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Principle Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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Mark Coleman Barrows |
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100.00 |
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Mortgages and
Charges
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Total Registered |
2 |
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Total Outstanding |
2 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
03/09/2003 |
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Date Registered |
10/09/2003 |
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Type |
395 |
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Date Created |
03/09/2003 |
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Lender |
HSBC BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
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Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL
BUILDINGS FIXTURES FIXED PLANT AND MACHINERY |
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Satisfied? |
No |
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Date Registered |
23/11/1984 |
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Type |
9999 |
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Date Created |
16/11/1984 |
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Lender |
MIDLAND BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
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Details |
FIXED & FLOATING CHARGE OVER ALL BOOK & OTHER DEBTS
UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED
CAPITAL |
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Satisfied? |
No |
Public Record
Information
Summary of CCJ's/Scottish Decrees
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There are no unsatisfied CCJs against the company. |
Operations
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Activities |
Diamond merchants |
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Sic Code |
Description |
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5170 |
Other wholesale |
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Staff Employed |
11 |
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Auditors |
Bentley Jennison |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e.
unqualified with no referrals) on the latest accounts. |
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Bankers |
HSBC Bank Plc |
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Sort Codes |
404613 |
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Bankers |
HSBC Bank PLC |
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Sort Codes |
404211 |
Financial Data
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The following figures are shown in units of 000 |
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Profit and Loss |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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GROSS PROFIT |
1,999 |
1,685 |
1,980 |
2,198 |
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General administration costs (-) |
1,073 |
901 |
949 |
1,231 |
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Wages and Salaries |
880 |
715 |
746 |
1,419 |
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Depreciation |
14 |
18 |
12 |
20 |
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Net Operating Profit(Loss) |
926 |
784 |
1,031 |
967 |
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Non Trading Income |
16 |
9 |
31 |
13 |
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Total Non Trading Income |
16 |
9 |
31 |
13 |
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Interest expenses & similar (-) |
0 |
0 |
1 |
0 |
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Financial Expenses |
0 |
0 |
1 |
0 |
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PRE TAX PROFIT |
942 |
793 |
1,061 |
979 |
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Other Taxation |
1 |
-1 |
-1 |
-1 |
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Taxation |
273 |
222 |
310 |
284 |
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PROFIT AFTER TAX |
668 |
573 |
751 |
697 |
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Net Profit |
668 |
573 |
751 |
697 |
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Dividends Payable |
300 |
200 |
250 |
500 |
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RETAINED PROFITS |
368 |
373 |
501 |
197 |
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Balance Sheet |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
49 |
63 |
46 |
70 |
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Plant, machinery & equipment |
49 |
63 |
46 |
70 |
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TOTAL CURRENT ASSETS |
4,098 |
3,719 |
3,819 |
3,752 |
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Stocks |
1,961 |
1,958 |
1,868 |
1,542 |
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Trade Debtors |
1,495 |
1,644 |
1,665 |
1,527 |
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Prepaid expenses |
25 |
24 |
23 |
24 |
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Cash |
617 |
93 |
263 |
658 |
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TOTAL ASSETS |
4,147 |
3,781 |
3,865 |
3,822 |
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TOTAL CURRENT LIABILITIES |
1,636 |
1,638 |
2,094 |
1,803 |
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Trade Creditors |
715 |
711 |
1,037 |
782 |
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Bank Overdraft |
92 |
116 |
59 |
- |
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Loans From Principals |
300 |
125 |
300 |
95 |
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Taxes |
517 |
374 |
437 |
414 |
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Accruals & deferred income |
12 |
112 |
12 |
12 |
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WORKING CAPITAL |
2,462 |
2,080 |
1,725 |
1,949 |
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TOTAL LONG TERM LIABS |
0 |
0 |
0 |
0 |
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NET ASSETS/(LIABILITIES) |
2,511 |
2,143 |
1,771 |
2,019 |
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SHARE CAPITAL + RESERVES |
2,511 |
2,143 |
1,771 |
2,019 |
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Issued Share Capital |
3 |
3 |
3 |
6 |
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Reserves |
6 |
6 |
6 |
3 |
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Profit and Loss account |
2,502 |
2,134 |
1,762 |
2,010 |
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SHAREHOLDERS FUNDS |
2,511 |
2,143 |
1,771 |
2,019 |
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CAPITAL EMPLOYED |
2,511 |
2,143 |
1,771 |
2,019 |
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TANGIBLE NET WORTH |
2,511 |
2,143 |
1,771 |
2,019 |
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Key Credit Ratios |
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Accounts Date |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
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Current Ratio |
2.50 |
2.27 |
1.82 |
2.08 |
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Quick Ratio |
1.31 |
1.08 |
0.93 |
1.23 |
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Return on Assets |
22.72 |
20.97 |
27.45 |
25.61 |
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T.N.W/Total Assets |
0.61 |
0.57 |
0.46 |
0.53 |
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Return on Capital |
37.51 |
37.00 |
59.91 |
48.49 |
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Financial Summary |
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Operating Profit |
Totalled GBP 926,000 In the period prior a profit of GBP
784,000 was achieved. |
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Pre Tax |
The subject made a profit of GBP 942,000 compared with a profit
of GBP 793,000 in the previous period. |
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Working Capital |
The company's working capital improved in the period by 18% |
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Tangible Net Worth |
Net worth increased by 368,000 during the period and now stands at GBP
2,511,000 |
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Fixed Assets |
The subjects fixed assets reduced during the period by GBP
14,000 to GBP 49,000 and are now 1% of total assets compared with
2% in the previous period |
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Long Term Liabilities |
The company's long term liabilities reduced during the period by 89%
and are now 0% of net worth compared with 5% in the previous period |
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Long Term Liabilities |
Long term liabilities are now 0% of total assets compared with 3% in
the previous period |
*** End of Report on CLARK DIAMONDS LIMITED. ***
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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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%)