MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
P S DAIMA AND SONS |
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Registered Office : |
RZ – 156, Sayed Nangloi, New Delhi – 110087 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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Pan No.: |
AADFP8371L |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the
Partners. |
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Line of Business : |
Manufacturer, Exporter and Importer of Brushes, Beads, Leather Laces
and Cords. |
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 25000 |
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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 and reputed concern having satisfactory track. Partners are reported as experienced and respectable businessmen. Trade relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sushil Daima |
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Designation : |
Partner |
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Contact No.: |
91-9811011866 |
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Date : |
14.08.2008 |
LOCATIONS
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Registered Office : |
RZ – 156, Sayed Nangloi, New Delhi – 110087, India |
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Tel. No.: |
91-11-25252690 |
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Mobile No.: |
91-9811011866/ 9818702220 |
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Fax No.: |
91-11-25254281 |
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E-Mail : |
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Website : |
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Area : |
65000 Sq. ft. |
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Location : |
Owned |
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Factory Cum Show Room : |
45 Kilometer Stone, Delhi Rohtak Road, Vill. Rohtak, Dist. Zhazzar,
Haryana, Punjab, India |
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Area : |
1.50 Lacs Sq. ft. |
PARTNERS
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Name : |
Mr. Sushil Daima |
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Designation : |
Partner |
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Date of Birth/Age : |
43 Years |
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Qualification : |
B.Com |
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Experience : |
More than 25 Years |
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Name : |
Mr. Surinder Daima |
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Designation : |
Partner |
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Date of Birth/Age : |
41 Years |
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Qualification : |
B.Com |
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Experience : |
More than 22 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Brushes, Beads, Leather Laces
and Cords. |
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Products : |
Brushes v School Brushes v Artist Brushes v Cosmetic Brushes v Hobby and Craft Brushes v Pony Hair Brushes v White Bristle Brushes v Golden PBT Brushes v Toray Brushes v Tejjin Brushes v Blended Synthetic Brush v Ox Hair Brushes v Inter Locked White Bleached Bristle Beads v Handmade Glass Lamp Beads v Handmade Colored Beads v Handmade White Heart Beads v Handmade Lampword Beads v Handmade Silver Foil Beads v Handmade Millifori Glass Beads v Bone and Horn Beads v Handmade Bone and Horn Tubes v Hand Carved Bone Beads v Handmade Bone Tusk Claw and Spacers v Handmade Bone Birds, Fish and Animals v Semiprecious Stone Beads v Wooden Beads v Metal casting Beads Leather Laces v Round Leather Lacing v Split Suede Leather Lacing v Buff Leather Lacing v Braided Bolo Leather Lacing v Round Leather String Braided Lacing v Real Suede Leather Lacing v Calf Craft Leather Lacing v Cow Leather Belting Laces v Cow Leather Latigo Laces v Nappa Leather Laces v Buff Leather Heavy Belting Laces v Goat Craft Leather Laces v Cotton Wax Cord |
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Exports : |
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Products : |
v Brushes v Beads v Leather Laces |
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Countries : |
v Australia v Austria v France v Germany v Italy v Europe v Hong Kong v Belgium v Canada v Columbia v Denmark v Netherlands v New Zealand v Switzerland v USA |
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Imports : |
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Products : |
v Raw Materials v Chemicals v Machinery |
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Countries : |
v Europe v Hong Kong v USA |
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Terms : |
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Selling : |
L/C, Credit ( 60 Days), Depends up on Customers |
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Purchasing : |
L/C, Depends up on Customers. |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v Importers |
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No. of Employees : |
Total : 250 ( Office : 50, Factory : 200) |
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Bankers : |
v State Bank of India 4893, Phoota Road, Sardar Bazar, Delhi-110006, India. Tel No.: 91-11-23531058 Fax. No.: 91-11-23679015 v Indian Overseas Bank 47 Malhotra Building, Janpath, New Delhi, India. Tel No.: 91-11-23350036 Fax.: 91-11-23321868 v Standard Chartered Bank Central Market, Punjabi Bagh, New Delhi, India. Tel No. :91-11-2516971/72/73/74 Fax : 91-11-25168776 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S S Poddar and Company Chartered Accountants |
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Address : |
New Delhi, India |
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Sister Concerns : |
P S Diamond and Company |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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160.000 |
Expected Sales (2008-09): Rs. 170.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v Jay Company – USA
v Clerk Fork Enterprises – USA
v Melever Fashions – USA
Trust Seal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
P S Daima and Sons |
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Statutory Approvals |
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Income Tax Registration |
AADFP8371L |
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Central Sales Tax Registration |
06251702895 C |
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VAT / TIN Registration |
06251702895 – V |
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Import Export Code |
0500011958 |
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Name of Bank |
Standard Chartered Bank |
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Current Account Number |
54505000809 |
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Credibility Factors |
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Year of Establishment |
1998 |
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Standards and Certifications |
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Quality Management Systems |
9001:2000 |
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Environment Management Systems |
14001 |
As Per Website Details
Subject are Indian manufacturer, supplier and exporter of a wider range of leather laces and cords. The company prides itself on delivering products that are professional, fashionable and offer a great value. At PS Daima and Sons, the collection includes laces and cords of several sizes, colors and thicknesses made of highest quality leather. The products of the company are uniquely designed and score on many points like durability, strength and grace.
Different kinds of leather are used to make a wide range of leather lacings and
leather cords. Variety of colorful laces and tapes, made out of fine quality of
leather, are used to adorn leather jackets, hunting or hiking boots, chaps,
leggings, choker, bracelet ends, caps, stretch cotton suits to give these a
special touch.
The products are checked to ensure exact dimensions, desired thickness, color, softness /stiffness, etc. All the products are produced in environment friendly conditions and adhere to international norms. The end result is that they are able to offer high quality leather laces and cords to you at low prices.
Long-standing experience, contemporary technology and continuously upgraded
skill sets have been the secret of the high quality products. Every aspect of
the operation exudes professionalism and progress, keeping in mind the long
standing ideals like quality, trust and loyalty.
Catering to a wide export clientèle, PS Daima takes pride in admitting that not
a single meter of the leather lacing supplied by it, has ever been rejected.
For us Customer's Delight is the priority and this journey of 28 years bears
testimony to the dedication and success.
They invite you to explore the online catalog and if you don't see the specific
product you require, they can tailor-make it for you. Buyers can specify their
customized requirements so that they can accordingly produce the required type
of leather lace and cord.
The Founder
Subject was founded in 1975 by Mr. PS Daima. The company began its modest operations as a manufacturer of Leather laces and leather lacings. The initial setup started with only 12 employees. Years of hardwork and perseverance went into the making of company. The company later diversified its product portfolio and ventured into beads and brush manufacturing also.
Under his dynamic leadership subject has emerged as a prestigious company in
the realm of export houses acknowledged for their quality. Being a daring
leader, who thought big, he succeeded in business while maintaining high
ethical standards.
He had great commitment to the values, leading to company's progress. Combining
a keen sense of business, Mr. PS Daima single-handedly built a business, that
in just three decades became one of the most admired company in its ambit.
However, the phenomenal growth owed as much to Mr. Daima acumen as to the
employees of the company, from the time of its inception till now.
He Mr P.S. Daima rose from humble beginnings to become chairman of PS Daima and
Sons. It is acknowledged that Mr. Daima had a vision and unparalleled business
understanding. It was his desire to make it big in life which prompted him to
establish a promising organisation like PS Daima and Sons.
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 :
The 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.
The 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. 43.23 |
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UK Pound |
1 |
Rs. 80.89 |
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Euro |
1 |
Rs. 63.80 |
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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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, they have no basis upon which to
recommend credit dealings |
No Rating |
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