MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRAJA MECHANICALS PRIVATE LIMITED |
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Registered Office : |
A - 80 New Friends Colony, New Delhi – 110 065 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.09.1982 |
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Com. Reg. No.: |
55 -14364 |
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CIN No.: [Company
Identification No.] |
U74899DL1982PTC014364 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Material Handling System and Installation. |
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 84000 |
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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 company having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
A - 80 New Friends Colony, New Delhi – 110 065, India |
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Tel. No.: |
91-129-4084503 |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No. 136-137, Sector 25, Faridabad – 121 004, Haryana,
India |
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Tel. No.: |
91-129-4113500 |
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Factory 1 : |
Plot 136-137, Sector 25, Faridabad - 121 004, Haryana, India |
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Tel. No.: |
91 129 411 35 00 |
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Fax No.: |
91 129 411 35 05/408 45 05 |
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E-Mail : |
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Factory 2 : |
Plot 12A, 13/3, Mathura Road, Faridabad - 121 003, Haryana, India |
DIRECTORS
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Name : |
Mr. Pradip Kumar Rungta |
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Designation : |
Director |
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Address : |
A - 80 New Friends Colony, New Delhi – 110 065, India |
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Date of Birth/Age : |
07.06.1956 |
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Date of Appointment : |
18.09.1982 |
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Name : |
Mr. Jai Narain Rungta |
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Designation : |
Director |
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Address : |
A - 80 New Friends Colony, New Delhi – 110 065, India |
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Date of Birth/Age : |
08.04.1930 |
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Date of Appointment : |
01.01.1983 |
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Name : |
Mr. Rajesh Kumar Rungta |
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Designation : |
Director |
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Address : |
A - 80 New Friends Colony, New Delhi – 110 065, India |
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Date of Birth/Age : |
28.01.1959 |
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Date of Appointment : |
18.09.1982 |
KEY EXECUTIVES
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Name : |
M/s AGG and Associates |
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Designation : |
Company Secretary |
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Address : |
21/16, West Patel Nagar, New Delhi – 110 008, India |
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Tel. No.: |
91-11-25885134 / 42484330 |
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Fax No.: |
91-11-25885134 |
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Mobile No: |
91-9811386480 |
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Email ID: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. J N Rungta / S/o Late Mr. J D Rungta |
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4000 |
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Mr. Pradip Rungta / Mr. J N
Rungta |
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3000 |
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Mr. Rajesh K Rungta / Mr. J N Rungta |
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3000 |
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Mrs. Prem Rungta / Mr. J N Rungta |
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500 |
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Mrs. Uma Rungta / Mr. P K
Rungta |
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1000 |
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Ms. Rashmi Rungta / Mr. J N Rungta |
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5 |
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Ms. Ridhima Rungta / Mr. P K Rungta |
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10 |
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Mr. J N Rungta and Sons (HUF) |
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3500 |
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Mr. P K Rungta (HUF) |
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4000 |
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Mr. R K Rungta (HUF) |
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4000 |
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Praja Securities Limited |
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10000 |
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Mr. Pradat Rungta / Mr. P K Rungta |
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2005 |
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Mrs. Mridula Rungta / Mr. R K Rungta |
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5 |
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Total
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35025 |
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Material Handling System and Installation. |
PRODUCTION STATUS (as on 31.03.2005):-
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Particulars |
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Unit |
Actual
Production |
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Chain |
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Mtrs |
190.983 |
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Track |
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Mtrs |
127.583 |
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Contro panel / Safety Devices |
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No. |
156.00 |
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Drive Unit / Tension Unit |
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No. |
02.00 |
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Supports |
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Mtrs |
20.00 |
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Supports |
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No. |
0 |
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Trollies |
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No. |
112.00 |
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Fabricated Frames |
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No. |
2101.00 |
Notes: Licensed capacity and installed capacity are
not applicable.
GENERAL
INFORMATION
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Suppliers : |
· B K Gas And Instruments · Albino Electrical · Chandan Lube · Gas Centre · Festo Controls Limited · Gautam Steel Traders · Jain Trading Company · Seco India · Pankaj Enterprises · Vishesh Enterprises · Shakti Traders · Nisha Ispat · Deepak Marketing |
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Customers : |
· Eicher Tractors Limited · JCB India Limited · Ashok Leyland Limited · TVS Motor Company Limited · Hero Honda Motors Limited · Mahindra TVS Motor Company Limited · Hero Honda Motors Limited · Mahindra and Mahindra Limited (Nashik) · Praja Technologies Limited · BPL Display Divices Limited |
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Bankers : |
State Bank of India SIB Branch 65, Neelam Bata Road, Faridabad
– 121 001, Haryana, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bubber Jindal and Company Chartered Accountants |
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Address : |
3072, Pratap Street, Gola Market, Behind Golcha Cinema, Daryaganj, New
Delhi – 110 002, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity shares |
Rs. 100/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35025 |
Equity shares |
Rs. 100/-
each |
Rs. 3.502
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.503 |
3.502 |
3.502 |
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2] Share Application Money |
2.997 |
0.000 |
0.000 |
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3] Reserves & Surplus |
14.318 |
0.000 |
6.096 |
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4] (Accumulated Losses) |
0.000 |
7.531 |
0.000 |
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NETWORTH |
20.818 |
11.033 |
9.598 |
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LOAN FUNDS |
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1] Secured Loans |
14.075 |
3.976 |
3.252 |
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2] Unsecured Loans |
19.734 |
1.578 |
1.144 |
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TOTAL BORROWING |
33.809 |
5.554 |
4.396 |
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DEFERRED TAX LIABILITIES |
0.160 |
0.326 |
0.000 |
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TOTAL |
54.787 |
16.913 |
13.994 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.930 |
4.333 |
4.860 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.212 |
0.212 |
0.212 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
31.169
|
6.660 |
3.769 |
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Sundry Debtors |
18.559
|
6.025 |
10.434 |
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Cash & Bank Balances |
23.243
|
1.335 |
0.982 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
39.621
|
7.764 |
3.033 |
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Total
Current Assets |
112.592
|
21.784 |
18.218 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
66.968
|
8.240 |
9.296 |
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Provisions |
1.979
|
1.176 |
0.000 |
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Total
Current Liabilities |
68.947
|
9.416 |
9.296 |
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Net Current Assets |
43.645
|
12.368 |
8.922 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
54.787 |
16.913 |
13.994 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
116.573 |
38.335 |
38.334 |
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Other Income |
0.000 |
0.000 |
0.122 |
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Total Income |
116.573 |
38.335 |
38.456 |
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Profit/(Loss) Before Tax |
4.233 |
2.272 |
1.871 |
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Provision for Taxation |
1.489 |
0.836 |
0.340 |
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Profit/(Loss) After Tax |
2.744 |
1.436 |
1.531 |
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Export Value |
NA |
NA |
NA |
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Import Value |
NA |
NA |
2.050 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
0.000 |
31.658 |
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Administrative Expenses |
0.000 |
0.000 |
1.978 |
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Selling & Distribution Expenses |
0.000 |
0.000 |
0.540 |
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Finance Expenses |
0.000 |
0.000 |
0.774 |
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Loss on Sale of assets |
0.000 |
0.000 |
0.001 |
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Depreciation & Amortization |
1.890 |
0.534 |
0.598 |
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Other Expenditure |
108.560 |
34.995 |
0.301 |
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Total Expenditure |
110.450 |
35.529 |
35.850 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.35 |
3.74 |
3.98 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.63 |
5.92 |
4.88 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.45 |
8.69 |
8.10 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.20 |
0.19 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.93 |
1.35 |
1.42 |
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Current Ratio (Current Asset/Current Liability) |
|
1.63 |
2.31 |
1.95 |
LOCAL AGENCY
FURTHER INFORMATION
|
Corporation identity number or foreign company registrations number of
the company |
U74899DL1982PTC014364 |
|
Name of the company |
PRAJA MECHANICALS PRIVATE LIMITED |
|
Address |
A - 80 New Friends Colony, New Delhi – 110 065, India |
|
This Form is for |
Modification of Charge |
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Type of Charges |
· Immovable Property · Book Debts · Movable Property · Floating Charges · Others |
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Particular of the charge holder
|
State Bank of India SIB Branch 65, Neelam Bata road, Faridabad
– 121 001, Haryana, India Email ID: priyangarg@gmail.com |
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Nature or description of the instrument creating charge |
Letter of arrangement, agreement of loan cum hypothecation, copy of
inland letter. |
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Date of the instrument creating charge |
14.03.2007 |
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Amount Secure by the charge |
Rs. 77.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of interest: Working capital: Interest at 1.25% above SBAR with a minimum of 13.5%
p.a rising or falling therewith, on daily monthly rests, Present effective
rate 13.5% p.a wherever expedient, interest rate directly linked to the
credit assessment of the borrower commission to be charges on L/C, BG and
Adhoc Bank Guarantee. Terms of Repayment: Repayable on Demand Margin: Raw materials -25%, Semi finished goods and finished goods – 30%,
Domestic Receivables – 40%, Bank Guarantee and letter of credit -25%. Extent and operation of the
charges: hypothecation of stock of raw materials , SIP, Finished goods
receivables and other current assets (present and future) EM of factory Land
and building situated at Plot No. 136, 137, Sec -25, Faridabad in the name of
M/s Praja Mechanical Private limited corporation guarantee and EM of factory
land and building at 12A, 13/3, Mile stone, Mathura road, Faridabad in the
name of M/s Praja Control and systems private limited. Extension of charge on
all the fixed assets present and future in the name of the company. Others: Personal guarantee of all the director. |
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Short particulars of the Property charged |
Plot No. 136, 137, Sec -25, Faridabad in the name of M/s Praja
Mechanical Private Limited. Plot No. 12A, 13/3, Mile stone, Mathura Road, Faridabad in the name of
M/s Praja Control Systems Private Limited. |
|
Particulars of the present modification |
Limit enhanced from Rs. 15.400 millions to RS. 77.500 millions (cash
credit (stock) Rs. 15.000 millions,
cash credit (book debts) Rs. 7.000 millions, clean cash credit (under same credit plus) Rs. 2.500
millions, letter of credit Rs. 2.500 millions, Bank guarantee Rs. 20.000
millions, Adhoc bank guarantee (one time) Rs. 37.500 millions. |
OTHER INFORMATION:
Contingent liabilities not provided for are
as follows:-
For Bank Guarantees
Rs. 1.088 millions (Rs. 0.516 millions)
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Electric Installation
· Tools
· Furniture and Fixtures
· Motor Vehicle
· Office Equipment
· Dies and Fixture
· Cycle
· Coolers
· Air conditioners
· Computers
· Scooter
· Lift
· Fire Extinguisher
WEBSITE DETAILS:
Subject
was incorporated in September 1982 since then has established itself as a
leading supplier of Automated and Mechanised Material Handling Systems. Subject
has worked closely with international companies for various prestigious
projects and also have tie-ups with international conveyor companies for supply
of components or technology on a need basis. Today, they have the
confidence to meet any requirement in material handling and are proud to state
that in a short span, have successfully installed and developed a variety of
systems across the nation.
Subject,
today, has the capability to provide viable solution to suit customer's
operational needs and meeting the material handling requirement of industry as
diversified as Railway, Defence, Automobiles, Auto-ancillaries, white-goods,
etc., for varied application in body shop, paint shop, assembly lines to simple
transportation and storage - they can customise the solution to suit the needs
in an economical and reliable manner.
Subject,
today has the capability of providing sophisticated controls which are geared
for fully automated operation, tracking system for job tracking and routing,
master information system with displays, self diagnostic tools etc.
Subject
has developed simulation techniques can provide a complete study on simulation
programs with actual graphics of the proposed plant/conveyors. Simulation is
done on scaled models and this tool can be used for generating all types of
reports/data for a complete understanding of the plant even before investing
real time and money.
Subject
is looking for challenges and the horizon is not limited by what they are doing
at present. They like to offer tailer-made solutions and not work within any
bound parameters.
A
close interaction with the customer is an essential part of Subject's
commitment for providing solution to a customer's material handling needs.
A
close working environment with suppliers, adaptability to new products and
keeping in touch with modern techniques being offered world-wide enhances their
knowledge and skills to offer the latest solution to material handling.
They
have worked on a number of projects, the most notable amongst them being:
General Motors India:
1995
- Complete
handling for their weld, paint and assembly shops. This project has been
commissioned in partnership with Automatic Systems Inc., a leading conveyor
manufacturer in Kansas City, USA. Besides the above they were exposed to the
working of a number of international companies like Cleaver Ketco Gorlitz and
Papa (CKGP), Modern Engineering of USA, Centraplan of Germany, with whom they
worked closely for project implementation.
Maruti Udyog:
1986
- The
following jobs have been executed till date:
·
Slat conveyors
- for varied applications such as Welding, Shower tester, Vehicle FC Okay,
Transmission and Rear Axle assembly, etc.
· Roller conveyors.
· Replacement of worn-out tracks in paint shop for power and free conveyors in PT/ED line.
· Overhead Power and amp; Free Conveyor-track switches along with loop line for extension of their existing conveyor.
· Overhead Transfer Carrier (Electrified Monorail System).
· Some of the systems commissioned above were against competitive global tenders in which there was international participation of Japanese / German companies.
Mahindra and Mahindra:
1988
- They have
commissioned four free rail floor conveyors in their and paint shop at
Nasik. They designed the complete material handling requirement from scratch
and incorporated a new concept of 'Floor Power Free System' in which the body
carrying 'dollies' are all automatically transferred from one line to another
where each line is having different speed and pitches to suit process
requirements.
1995
- Complete
material handling for their additional paint shop at Nasik for painting Ford
car bodies. Job involved manufacture of skid conveyor components like roller
bed, cross transfer conveyor, chain conveyor, transfer car, turn tables, etc.
and overhead pendulum conveyor for ED/PT process plants.
1996
- Commissioned
overhead power and free conveyor for feeding bodies from weld shop to paint
shop and the delivery of painted car bodies to the assembly shop. This system
also incorporates a Smart-Eye body tracking system over a chain length of
approximately 2 kms with ten drop-lifts, multiple switching options, etc.
Over
the years Subject developed, from offering simple solutions like overhead
monorail conveyors and floor conveyors to power and free conveyors having multiple
drop / lift points, switches, accumulation and incorporating within the
controls complete tracking and information system. To meet the industry demands
of having even more flexible solutions-EMS (Electrified Monorail Systems) were
developed with track switching capabilities, thus ensuring that within a closed
loop each job can have its own identity and can move at different speeds or
heights without being dependent on set parameters.
Subject
has also designed and installed auxiliary handling tools for auto industry
which are on-line and are part of main system, such as chassis turnover
(assembly line), automatic skid changing system (paint shops), cab tilting
(underbody painting), engine testing table (motorcycle plant) etc.
Subject
has over the years developed skills for designing and prototyping carrier/skids
for process plants where a complete car is to be dipped into tanks for surface
treatment. The carriers/skids developed at times had common platform for
handling more than 8 different models of car bodies.
Flo Aut
Client List:-
|
· The Premier Automobiles |
Cars |
|
· Maruti Udyog |
Cars |
|
· Mahindra and Mahindra |
Multi
Utility Vehicles |
|
· Ashok Leyland |
Heavy
Commercial Vehicles |
|
· Wheels India |
Wheel
Rims |
|
· TVS-Suzuki |
Motorcycles |
|
· Eicher Motors |
Light/Heavy
Commercial Vehicles |
|
· Escorts (Farmtrac Division) |
Tractors |
|
· Escorts Yamaha Motors |
Motorcycles |
|
· Hero Honda Motors |
Motorcycles |
|
· Bajaj Auto |
Scooters/3-Wheelers |
|
· TELCO |
Multi
Utility Vehicles |
|
· Bajaj Tempo |
Light
Commercial Vehicles |
|
· Daewoo Motors |
Cars |
|
· Shriram Refrigeration Industries |
Compressors |
|
· General Motors India |
Cars |
|
· ABB |
Process
Equipment Suppliers |
|
· FIAT India Automobiles |
Cars |
|
· Eicher Tractors |
Tractors |
|
· Hindalco Aluminium |
Aluminium
Process |
|
Other customers include: |
|
· Office Automation Equipments |
|
· White Goods/Brown Goods |
|
· Railways |
|
· Auto Ancillary etc. |
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 :
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.39.39 |
|
UK Pound |
1 |
Rs.78.40 |
|
Euro |
1 |
Rs.58.73 |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
NO |
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
|
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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/normal. |
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 |
|