MIRA
INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AJAY INDUSTRIAL CORPORATION LIMITED |
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Formerly Known As : |
AJAY INDUSTRIAL CORPORATION PRIVATE LIMITED |
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Registered Office : |
4561, First Floor – Deputy Ganj, Sadar Bazar, Delhi – 110 006 |
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Country : |
India |
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Date of Incorporation : |
07.07.2008 |
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CIN No.: |
U51909DL2008PLC180573 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA00081E |
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Legal Form : |
A closely held
public limited liability company |
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Line of Business : |
Manufacturer,
Exporter and Importer of Hand Pumps, PVC Pipes, and Houses and Tubing. |
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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Status : |
Good |
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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. Trade relations are fair.
Payment are usually correct and as per commitments. The company can be
considered normal for business dealings at usual trade terms and conditions. |
Note:
Ajay Industrial; Corporation has been
converted into Private Limited Company with effect from 07.07.2008
INFORMATION PARTED
BY
|
Name : |
Mr. Anand Sharma |
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Designation : |
Senior Manager (Export Marketing) |
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Mobile No.: |
91-9891308716 |
LOCATIONS
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Registered Office / Head Office: |
4561, Dupty Ganj,
Sadar Bazar, Delhi 110006, India |
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Tel. No.: |
91-11-23612204/ 23612206/
23545307/ 23545463/ 23524366/ 23545463 / 3545291 / 3611140 / 3612204 /
3612206 / 3616816 |
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Mobile No.: |
91-9871308716 |
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Fax No.: |
91-11-23536205 |
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E-Mail : |
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Website : |
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Area : |
18000 Sq. ft. |
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Location : |
Owned |
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Corporate
Office : |
13th
Floor, Gopal Dass Bhawan, 28 Barakhamba Road, New Delhi – 110 001, India |
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Factory : |
20/11, Site-IV, Sahibabad,
Ghaziabad, Uttar Pradesh, India |
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Tel. No.: |
91-120-2770679/
2770233/ 2770339 |
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Fax No.: |
91-120-2770629 |
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E-Mail : |
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Location : |
Owned |
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Factory 1: |
25,Okhla
Industrial Estate, Phase-1, New Delhi – 110 020, India |
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Tel. No. : |
91-11-26911093/
26922318 |
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Factory 2: |
20/11, Site IV, Sahibabad Industrial Area, Ghaziabad – 201 010, Uttar
Pradesh, India |
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Tel. No.: |
91-120-2770679 / 2770233 / 4770679 / 4770233 / 4770339 |
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Fax No.: |
91-120-2770629 / 4770629 |
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Location : |
Owned |
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Branch Office
: |
B-29 and 30,
Mayapuri Industrial Area, Phase – 1, New Delhi – 110 064, India |
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Tel. No.: |
91-11-28117056/51833114 |
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Fax No.: |
91-11-28115332 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. S C Jain |
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Designation : |
Director |
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Date of Birth/Age : |
09.03.1943 |
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Experience : |
30 Years |
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Name : |
Mr. Ajay Kumar
Jain |
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Designation : |
Director |
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Date of Birth/Age : |
03.12.1954 |
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Experience : |
30 Years |
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Name : |
Mr. D C Jain |
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Designation : |
Director |
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Date of Birth/Age : |
04.04.1941 |
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Experience : |
30 Years |
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Name : |
Mr. Rajeev Jain |
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Designation : |
Director |
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Name : |
Mr. Akhil Jain |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Exporter and Importer of Hand Pumps, PVC Pipes, and Houses and Tubing. |
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Products : |
·
Refrigerator
Gaskets ·
Flexible
Magnetic Strips ·
Extrusion
Compounds ·
UPVC Pipes,
Strainers and Casing ·
CPVC
Plumbing System ·
Hand Pump ·
Lay Flat
Hose ·
Flexible PVC
Tubings ·
Suction Hose ·
Drip/Micro/Landscape
and Rain Irrigation Systems ·
Fogging and
Misting System ·
India Mark
III Deepwell ·
India Mark
III Deepwell ·
Treadle Pump ·
Force and
Lift Hand Pump ·
Ghana
Modified Deepwell ·
Tara Direct
Action Pump ·
Treadle/Pedal |
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Exports : |
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Products : |
·
Deepwell
Handpumps ·
UPVC Pipes ·
PVC Gaskets |
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Countries : |
·
Mongolia ·
UAE ·
Benin ·
Malawi ·
Zambia ·
Zimbabwe ·
Botswana ·
Mozambique ·
Lesotho ·
Djibouti ·
Ethiopia ·
Sudan ·
Kenya ·
Uganda ·
Rwanda ·
Tanzania ·
Somalia ·
Angola ·
Namibia ·
South Africa ·
Nigeria ·
Ghana ·
Ivory Coast ·
Egypt ·
Cameroon ·
Morocco ·
Senegal ·
Verde Island ·
Turkey ·
Burkina Faso ·
Belize ·
Denmark ·
USA ·
Peru ·
Malaysia ·
Indonesia ·
Singapore ·
Cambodia ·
Thailand ·
Lao PDR ·
Burma ·
Nepal ·
Afghanistan ·
Bangladesh ·
Sri Lanka ·
Iraq ·
France ·
African
Countries ·
European
Countries ·
Australia ·
Pakistan |
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Imports : |
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Products : |
·
Raw Material ·
Machinery |
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Countries : |
·
Europe ·
Korea ·
China ·
Japan ·
Germany |
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Terms : |
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Selling : |
L/C, Cash and Credit ( 30 days) DA and at
Sight |
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Purchasing : |
L/C, Cash and
Credit ( 30-60 days) DA and DP Basis |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
115 |
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Bankers : |
·
Allahabad Bank,
International Branch, Parliament Street, New Delhi, India ·
ICICI Bank
Limited ·
HDFC Bank ·
State Bank
of India ·
Punjab
National Bank |
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Facilities : |
CC – Rs. 50.000 millions Term Loan – Rs. 50.000 millions |
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Auditors : |
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Name : |
Not Available |
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Memberships : |
·
Engineering Export Promotion Council of India (EEPC) ·
Plastic Export Promotion Council (PEPC) |
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Sister Concerns : |
·
Ajay Poly
Private Limited Address : E 119/120, Site B, Surajpur Industrial Area,
Surajpur, Noida, India B-II 29/30, MCIE, Mathura Road, Delhi, India 25, Okhla-III, Delhi, India Line of Business : Manufacturer and Exporter of PVC Profiles
and Gaskets ·
Precision
Pipes And Profiles Company Limited Address : 54, 56, 70 and 161, Okhla – III, New
Delhi, India Line of Business : Manufacturer and Exporter of PVC Profiles
and Gaskets |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
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10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 millions |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
(AJAY
INDUSTRIAL CORPORATION)
|
Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
600.000 |
620.000 |
350.000 |
Expected Sales (2008-09): Rs. 1000.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Twins Trading Company – Tunisia
·
South Borwell Private Limited – Delhi
·
Unisale United Nation Childred Fund – Delhi
·
Engineering Export Promotion Council, Government of India
As Per Website
Details
Established
in 1961 the subject is an ISO 9002 certified company engaged in the business of
Manufacturers and Exporters of Hand Pumps also producing the widest rang of
Flexible and UPVC Pipes, Hoses and Tubing.
The
subject is also manufacturing polyester fibre reinforced lay flat hose and
supplier of Drip Micro Irrigation Systems, Landscape and Rain Gun Irrigation
systems, being manufactured under collaboration with M/s Telsco Industries Inc,
USA. The products which are being manufactured by the subject i.e. PVC Pipes,
Laterals, Screen Filters and Emitters are ISI marked.
Subject is the leading
manufacturer and pioneer in extrusion of thermoplastics-Rigid PVC pipes upto
250 mm dia, Casing and strainers upto 250 mm dia, PVC Reinforced Suction Hoses
upto 6 inches dia, Polyester Fiber Reinforced Lay Flat Hoses upto 6 inches dia,
PVC wire reinforced Hoses, PVC Nylon Braided Hoses, Garden Hoses, Decorative
Shower Tubing, Drip Micro And Landscape Irrigation Systems, Flexible Ferrite
Magnets and PVC Profiles, Extrusions and Sealing System for Refrigerattion,
Automotive, Building, Furniture, Electrical And Construction Industries.
The company is the largest manufacturer and exporter of
Handpumps, producing India Mark II ,
India Mark III (VLOM), India Mark III Modified ( 50 mm OTC), India mark II
Extra Deepwell Handpump, Afridev Deepwell Handpump, Tara Direct Action Shallow
Well Handpump, Force-lift Handpump, Treadle pump and other tailor made
handpumps as per customer requirement. Their manufacturing unit is accredited
with ISO-9002 Certification and
was the first unit of its kind to have achieved it.
Sophisticated manufacturing facilities with more than 300 workers backed by latest technologies and stringent Quality Control Systems have enabled over half a million pumps to work satisfactorily in more than 45 countries. Major export destinations have been Mongolia, Benin, Malawi, Zambia, Zimbabwe, Botswana, Mozambique, Lesotho, Djibouti, Ethiopia, Sudan, Kenya, Uganda, Rwanda, Tanzania, Somalia, Angola, Namibia, South Africa Nigeria, Ghana, Ivory coast, Egypt, Cameroon, Morocco, Senegal, Verde Island, Turkey, Burkina Faso, Belize, Denmark, USA, Peru, Malaysia, Indonesia, Singapore, Cambodia, Thailand, Lao PDR, Burma, Nepal, Pakistan, Afghanistan, Bangladesh, Sri Lanka, Iraq, France etc.
Their Company has been on an exclusive rate contract with
reputed organizations for many years for the supply of Deepwell handpumps and
spare parts and has also been approved by UNICEF and UNDP.
The whole range of India mark II Handpumps are marked with ISI mark under license from Bureau of Indian Standards (BIS).
Ajay Industrial Corporation is the proud bearer of "SGS Gold Commerce Seal" awarded by SGSonSITE.Rating service, SGS Socíété Générale de Surveillance SA.
Ajay Industrial
Corporation is also the largest manufacturer and supplier of Drip Micro
Irrigation Systems, Landscape and Rain Gun Irrigation systems, being
manufactured under collaboration with M/s Telsco Industries Inc, USA.
Ajay Group is the largest manufacturer of refrigerator door
sealing system (Door Gaskets) and are OEM supplier to all refrigerator manufacturers
in the country. They also manufacture PVC Door trim, Roofs Trim, WeatherStrips,
PVC Front and Rear windshield trimsand moldings, PVC body side molding and
other co-extruded PVC profiles for Automotive industry. They are OEM suppliers
to various automobiles manufacturers like M/s Honda Siel, M/s Maruti
Udyog Limited. to name a few. These products are manufactured in association
with M/s Tokai Kogyo Co Limited.,
Japan.
The entire systems are manufactured under one roof with state- of- art technology.
Their PVC Pipes, Laterals, Screen Filters and Emitters are ISI marked. All
their products meet International standards.
The company also manufactures and enjoys a significant
market share in Rigid UPVC Pipes, Casing/Strainers and Ribbed Well Screens.
Along with Rigid PVC items, AJAY also manufactures Flexible Transparent PVC
tubing, Garden Hoses, Nylon Reinforced suction and Delivery Hoses and Polyester
Fiber Reinforced Lay Flat Hoses in technical tie-up with M/s Industries Plastiche Lombarde S.R.L, Italy.
As a validation of their excellent quality and their exceptional services, the company has received several awards from many different agencies. To list a few
· Winners of the Largest Exporter Award for 5 years
· Delhi State Award For Export
· All India Award for Export Excellence in 1998-99 from Engineering Export Promotional Council
Awards and Recognition:
· Govt. of India Approved Export House
· Largest Handpump Manufacturer in the World
· Exclusive Rate Contract With Organisations Like Unicef And Others For Supply Of Hand Pumps And Spares.
·
ISO 9002 Certified (First In India For Hand Pump)
·
Bearer Of "Sgs Gold Commerce Seal"
·
Only company manufacturing the widest range of Hand pumping, Spare
parts, Accessories, UPVC Pipes, Strainers and Casings under a single roof.
·
Winner Of All India Award For Export Excellence
·
Winner Of Delhi State Award For Exports
·
Winner Of Largest Exporter Award Continuosly For 5 Year
Company Highlights
- Largest Handpump Manufacturer in the
World
- Govt. of india approved export house
- Exclusive rate contract with
organisations like unicef and others for supply of hand pumps and spares.
- ISO-9002 certified (first in India for
hand pump)
- Bearer of "SGS gold commerce
seal"
- Only company manufacturing the widest
range of handpumps, spare PARTS, ACCESSORIES, UPVC pipes, strainers and
casings under a single roof
- Winner of all India Award For Export
Excellence
- Winner of Dlhi state award for exports
- Wnner of largest exporter award
continuosly for 5 year
Related Parties
Description (Subsidiaries, Joint-ventures, Affiliates)
Group Turnover: Rs. 600.000 Million approx as claimed
by the subject
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Associates/Subsidiaries : |
Ajay Poly Private Limited |
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Legal Status : |
Private Limited Company |
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Date of Incorporation : |
3rd June 1980 |
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Factory : |
B-2/30 Mohan Co-op Industrial Estate, Badarpur, New Delhi 110044 |
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Tel No. : |
91-11-29892570/29894999 |
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E Mail : |
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Factory : |
25 Okhla Industrial Estate, Phase – III, New Delhi 110020 |
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Tel No. : |
91-11-26838740/26839126 |
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Factory : |
17-B, Samrat Silk Mills Compounds, L.B.S. Marg, Vikhroli West Mumbai
4001079, Maharashtra |
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Factory : |
19-A, N.I.T. Faridabad, Haryana |
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Factory : |
28/A-3, Viswesvaraiya Industrial, Dodema Kundi, Mahadevpura Post,
Bangalore 560048, Karnataka |
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Factory : |
E-180 Phase –VII, Industrial Estate, SAS Nagar, Mohali 160059 |
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Factory : |
Gate No. 1330/1A/1 Taluka Shirur, Ghodnadi, Pune 412210 Maharashtra |
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Factory : |
C-31, Industrial Estate, Sanath Nagar, Hyderabad 500018 Andhra Pradesh |
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Factory : |
H-47, 49 Industrial Area, Shahjehapur, Dist. Alwar Rajasthan |
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The Company is one of the largest manufacturer and supplier of
Extruded Refrigeration Sealing Systems in India catering in the domestic
market as well as neighbouring countries. The company also exclusively
services the requirements of almost all commercial refrigeration companies in
India manufacturing Visi-coolers, Chest Freezers, cold Rooms and Cold
Air-handling systems. The company deals in wide range of extruded profiles and extruded plastic products. In
addition to supplying finished products, the company also supplies all kinds
of Refrigerator Gasket compounds, Magnetic Strips and Magnetic Strip
Extrusion compounds to many international customers. |
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Name of the Company: |
Precision Pipes and Profiles
Company Limited |
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Legal Status : |
Deemed Limited Company |
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Date Of Incorporation : |
October 18, 1995 |
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Factory : |
70 Okhla Industrial Area, Phase – III, New Delhi 110020 |
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Tel No. : |
91-11-26313121 |
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Factory : |
Refrigeration Division |
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Address : |
54-56 Okhla Industrial Estate, Phase – III, New Delhi 110020 |
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Tel No. : |
91-11-26849672/26310711 |
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Fax : |
91-11-26311674 |
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E Mail : |
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Location : |
Owned |
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Factory: |
Automobiles Division |
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Address : |
161 Okhla Industrial Estate, Phase-III, New Delhi 110020 |
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Tel No. : |
91-11-26311294/26849369 |
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Fax : |
91-11-26822001 |
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E Mail : |
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Works |
B- 45, Phase – II, Greater Noida, Utter Pradesh |
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|
The Company has in its 25 years of existence in the plastic industry.
The company is one of the largest supplier of Automotive Extruded Parts in India
catering to most multinational companies and also manufacturing specialized
Injection Moulded parts primarily for Automotive exterior applications. The
automotive division of the company has been the winner of the “ Best Vendor
Awards” continually year-after-year from almost all its customers for its
exceptional performance in all areas. The product range includes a wide range
of extruded profiles and extruded plastic products. The company also
manufactures specialized/custom PVC extruded profiles in all configurations
including Rigid/Flexible/Co-extrusion being supplies to major domestic as
well as international customers. |
Other Information:
·
Ajay Group (Head Office)
Contact Person :Mr. Sharat Chand Jain
Address : 4561 Deputy Ganj Sadar Bazar,
New Delhi, 110 006 - India
Phone No: +(91)-(11)-23545291/26946767/26849672/26910777
Fax No: +(91)-(11)-23536205/26311671
Email : ppp@del3.vsnl.net.in
·
Refrigerator Gaskets, Rigid Profiles, Flexible
Profiles, TPE/TPV Seals, Specialty Tubing, PVC Extrusion Compounds Domestic (India)
Contact: Mr. Swaminathan International
Contact: Anuj Jain Add: 54/56 Okhla Industrial Estate, Ph-3 New Delhi-110020,
India
Phone No: 91-11-26849672, 26310771
Fax No: 91-11-26311671
Email: ajaypoly@del3.vsnl.net.in
·
All Handpumps, Spares and Tools
Contact: Mr. Akhil Jain
Address: 20/11, Site IV, Sahibabad Industrial Area, Ghaziabad, UP, India
Phone No: 91-120-2770679, 2770233
Fax No: 91-120-2770629
Email: ajaypump@mantraonline.com
·
CPVC Pipes And Fittings
Contact: Mr. Vivek Dua
Address: 54 Okhla Industrial Estate, Ph-3, New Delhi-110020 , India
Phone No: +(91)-11-55484046, 26332275
Fax No: +(91)-11-26311671
Email: ajaycpvc@vsnl.net
·
Flexible Ferrite Magnetic Strips, Magnetic Powders
/ Compounds
Contact: Mr. Nitin Jain
Address: 54/56 Okhla Industrial Estate, Ph-3 New Delhi-110020, India
Phone No: 91-98102 58626
Fax No: 91-11-26311671, 23536205
Email: ajaypoly@del3.vsnl.net.in
·
UPVC Pipes, Flexible Tubing, Suction Hose, Layflat Hose
Contact: Mr. S.C. Jain
Address: 4561 Deputy Ganj, Sadar bazaar, Delhi-110006, India
Phone No : 91-11-23545291/23612204
Fax No: +(91)-11-23536205
Email: ppp@del3.vsnl.net.in
·
Automotive Extruded and Molded Products
Contact: Mr. Abhishek Jain
Address: 161 Okhla Industrial Estate, Ph-3 New Delhi-110020, India
Phone No: 91-11-26849369, 51609030
Fax No: 91-11-26822001
Email: info@ppapco.com
·
Drip, Micro, Landscape And Rain Sprinkler
Irrigation products
Contact: Mr. R.B. Khachne
Address: 20/11, Site IV, Sahibabad Industrial Area, Ghaziabad, UP, India
Phone No: +(91)-120-2775338, 2779898
Fax No: +(91)-120-2770629
Email: ajayirridrip@vsnl.net
·
Fogging / Misting Systems
Contact: Mr. Vijay Kumar Kohlia
Address: 20/11, Site IV, Sahibabad Industrial Area, Ghaziabad, UP, India
Phone No: 91-120-2775338, 2779898
Fax No: 91-120-2770629
Email: ajayirridrip@vsnl.net
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.90 |
|
UK Pound |
1 |
Rs.74.30 |
|
Euro |
1 |
Rs.63.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|