MIRA
INFORM REPORT
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Report Date : |
25.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
TUBE TECH COPPER AND ALLOYS PRIVATE LIMITED |
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Registered Office : |
Plot No.37, Dandekar Industrial Estate, Old Satpati Road, Palghar,
Thane – 401407, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
17.12.2007 |
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Com. Reg. No.: |
176851 |
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CIN No.: [Company
Identification No.] |
U27201MH2007PTC176851 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNET06781F |
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PAN No.: [Permanent
Account No.] |
AACCT8191L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Copper Tubes, Brass Tubes, Copper Coils, Nicked Tubes,
and Fin Tubes. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and appears to be doing well. Trade relations
are fair. Payments are usually correct and as per commitments. The company can be considered for small to mediocre business dealings at
usual trade terms and conditions with same caution. |
INFORMATION PARTED
BY
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Name : |
Mr. Ajit |
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Designation : |
Director |
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Contact No.: |
91-9322157397 |
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Date : |
23.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
Plot No.37, Dandekar Industrial Estate, Old Satpati Road, Palghar,
Thane – 401407, Maharashtra, India |
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Tel. No.: |
91-2525-240602/ 21546464 |
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Mobile No.: |
91-9322157397 |
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Fax No.: |
91-2525-240602/ 329325 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Ajit Kum S. |
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Designation : |
Director |
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Address : |
B-201, Happy Home Apartment, Near Raj Talkies, Tembhode Road, Palghar,
Thane – 401404, Maharashtra, India |
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Date of Birth/Age : |
01.12.1971 |
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Qualification : |
B.E. |
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Experience : |
14 years |
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Name : |
Mr. Pratima Ajit |
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Designation : |
Director |
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Address : |
B-201, Happy Home Apartment, Near Raj Talkies, Tembhode Road, Palghar,
Thane – 401404, Maharashtra, India |
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Date of Birth/Age : |
29.05.1975 |
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Qualification : |
B. Sc. |
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Experience : |
6 years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 18.06.2007)
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Names of Shareholders |
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No. of Shares |
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Ajit Kumar S. Dubey |
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5000 |
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Pratima A. Dubey |
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5000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Copper Tubes, Brass Tubes, Copper Coils, Nicked Tubes,
and Fin Tubes. |
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Products : |
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Exports : |
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Products : |
Brass Tubes |
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Countries : |
Israel |
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Terms : |
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Selling : |
L/C and Credit (30-60 days) |
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Purchasing : |
Credit (30-60 days) |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
48 (Office – 7 and Factory 41) |
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Bankers : |
Vijaya Bank, Palghar |
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Facilities : |
CC Limit Rs.8.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deepak D. Agarwal and Associates Chartered Accountant |
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Address : |
Kandivali (West), Mumbai – 400067, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
As the subject is a new company, no financial are available.
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence
Verification |
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Name |
Tube Tech Copper and Alloys Private Limited |
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Statutory
Approvals |
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Income Tax Registration |
AACCT8191L |
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Central Sales Tax Registration |
27140642690 C |
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VAT/ TIN Registration |
27140642690-V |
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Excise Registration |
AACCT8191LxN001 |
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Name of Bank |
Vijaya Bank |
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Current Account Number |
504900300001293 |
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Account Since |
4 years |
Website Details:
Profile:
Subject manufactures Copper
Tubes, Copper Coils, Brass Tubes, Cupro Nickel Tubes, fin tubes & copper
pressure fittings for a wide spectrum of customers and uses state of the art
facilities and constant and sustained research in emerging cutting edge
techniques to consistently create high quality products at hard to beat prices.
Company ensures adherence to the respective standards and caters to specific
customer's requirements. Their products are always in the upper range of
expected quality, aggressively priced and coupled with excellent service.
The mechanical and dimensional characteristics of their products satisfy the
most demanding orders that require tight tolerances.
Infrastructure
Company is technically and professionally well equipped to manufacture high
performance and defect free copper and copper alloy tubes. They are situated
about 100 kms North of Mumbai at Palghar in Thane District and have a
state-of-the-art Manufacturing plant - staffed with skilled resources and
backed by stringent Quality procedures to satisfy the most diverse and the most
discerning Client's needs.
To meet the global challenges of quality and performance, their production unit
is adequately equipped with hi-tech modern tools and updated technology. This
empowers us to provide their clients a competitive edge over others and create
value for the firm. They have been constantly upgrading their infrastructure to
meet the dynamic demands of the industry. Ongoing substantial investment
programs are testament to their commitment to excellence in the product quality
and Customer service.
Manufacturing
Process
Mother Tubes are procured from reputed manufacturers and
are subjected to a thorough chemical analysis along with rigorous physical and
mechanical tests. The best quality mother tubes are then cold drawn on the draw
benches.
Drawing involves pulling the hollow tube through a series of tungsten carbide
dies of gradually decreasing diameters. Before each step of the drawing
process, the tube is pointed at one end to fit through the next smaller die.
Before drawing a stationery tapered plug mandrel is placed inside the tube. As
the tube is drawn on linear draw benches, the mandrel and die act together to
reduce both the tubes outside diameter and its wall thickness. The mandrel also
makes the tubes inside surface smoother.
The tube is annealed in an annealing furnace as and when required by the given
standard to make it suitable for the intended application. The straight tubes
are passed through a series of straightening rolls before the final cutting
operation to make it perfectly cut to the size. The soft annealed coils are
wounded on the automated coilers.
Finally, the tube is cleaned to remove any traces of drawing lubricants or
other contaminations. Samples of the finished tubes are analyzed at regular
intervals to ensure that it meets all requirements of size, wall thickness and
quality as required under the applicable standards.
Quality
Quality has brought prosperity to company High product quality is an absolute
priority for them and this constitutes a competitive advantage as it sets them
apart from their competitors and hence makes a significant contribution towards
securing and extending their market position. A determination to settle for
nothing less than excellence is the foundation on which their company operates.
Their stringent quality practices ensure that every product meets the
industry's highest production standards. The products and services they offer
not only meet the quality requirements of their customers but actually exceed
them.
Quality Control
It is the stringent regime of
quality controls and procedures established at Company that gives its products
the critical advantage in the industry. Strict process requirements and
continuous monitoring throughout the production process minimizes the range of
possible deviations in the final output. The works have been equipped with
reliable testing and measuring equipment for destructive and non destructive
testing.
Destructive Tests:
Flaring Test
The flaring test serves to
establish the forming behavior of tubes or pipes which is expanded to a
specific degree. This flaring test is carried out in conformity with the code
requirements. The specimen to be tested is expanded in a press to the degree
specified. Defects which occur as result of this process are not permissible.
Hardness Test
Samples from each lot are tested
to ensure that the hardness of the tube is within permissible limits.
Tensile Test
The tensile test specimen serves
to determine the strength and ductility characteristics i.e. yield strength,
tensile strength and elongation. Tensile tests are normally carried out at room
temperature according DIN, ASTM, BS, and other common standards.
Flattening Test
Flattening test mainly serves to
detect microscopic internal and external flaws. It involves compressing a tube section
between two planes placed parallel to a predetermined distance. Incipient
cracks and internal or external defects which occur as result of this process
are not permissible.
Non Destructive Tests:
Hydrostatic Tests
All tubes and pipes produced at
Tube Tech are compulsorily subjected to 100% hydro testing. Hydrostatic Testing
can be carried out at pressures upto 120 kg /cm sq. The test pressure is
achieved using high pressure Triple Plunger pumps. If specified, customers or
their deputed inspection agencies can witness 100% hydro testing at their
plant.
Pneumatic Testing
For thin wall tubes Pneumatic
Testing (Air under water) is done at up to 450 psi air pressure to check for
any leakages in the tube.
Visual Inspection
All products at Tube Tech are
subjected to 100% visual inspection.
Quality Assurance
Quality Assurance System implemented at company covers all
production stages right from the raw material, re-drawing, annealing, till the
final product is ready for dispatch. The elements of the quality assurance
system correspond to the requirements of national and international standards,
as well as customer's own Quality Assurance requirements.
The Quality control department is independent of manufacturing shop. All tests
are carried out by trained quality personnel in compliance with the guidelines
of the Quality Assurance System. Depending upon the intended application and
technical delivery conditions or customer's specifications, a variety of
specific tests can be carried out to ensure that highest quality standards are
maintained. Also, at the end of this meticulously uncompromising quality
checks.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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34 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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