MIRA
INFORM REPORT
|
Report Date : |
22.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AER COMFORT PRIVATE LIMITED |
|
|
|
|
Registered Office : |
B-14, Sagar Appartment, 6 Tilak Marg, New Delhi - 110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
22.09.1998 |
|
|
|
|
Com. Reg. No.: |
55-096381 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29192DL1998PTC096381 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELA08253A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCA8850E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Air Conditioners Equipments |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 53420 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
|
Registered Office : |
B-14, Sagar Appartment, 6 Tilak Marg, New Delhi – 110001, India |
|
Tel. No.: |
91-11-46566290/ 23387044 |
|
Fax No.: |
91-11-23386503 |
|
E-Mail : |
|
|
|
|
|
Corporate Office/ Factory : |
27, Zamrudpur Complex, New Delhi – 110048, Delhi, India |
|
Tel. No.: |
91-11-46566290 |
|
Fax No.: |
91-11-41630292 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Gaurav Gupta |
|
Designation : |
Director |
|
Address : |
154, Carriapda Marg, M B Road, New Delhi – 110062, India |
|
Date of Birth/Age : |
10.06.1969 |
|
Date of Appointment : |
22.09.1998 |
|
|
|
|
Name : |
Mr. Vijay Kumar Gupta |
|
Designation : |
Director |
|
Address : |
154, Carriapda Marg, M B Road, New Delhi – 110062, India |
|
Date of Birth/Age : |
07.07.1940 |
|
Date of Appointment : |
22.09.1998 |
|
|
|
|
Name : |
Ms. Santosh Gupta |
|
Designation : |
Director |
|
Address : |
154, Carriapda Marg, M B Road, New Delhi – 110062, India |
|
Date of Birth/Age : |
01.12.1942 |
|
Date of Appointment : |
22.09.1990 |
|
|
|
|
Name : |
Mr. Mayank Gupta |
|
Designation : |
Director |
|
Address : |
154, Carriapda Marg, M B Road, New Delhi – 110062, India |
|
Date of Birth/Age : |
05.10.1975 |
|
Date of Appointment : |
11.02.2006 |
|
|
|
|
Name : |
Mr. Ankur Gupta |
|
Designation : |
Director |
|
Address : |
154, Carriapda Marg, M B Road, New Delhi – 110062, India |
|
Date of Birth/Age : |
12.11.1976 |
|
Date of Appointment : |
11.02.2006 |
|
|
|
|
Other Directorship company : |
Ideal Fittings Private Limited Director CIN of Company – 120814 Action Park and Resorts Limited Director CIN of Company - 079914 |
KEY EXECUTIVES
|
Name : |
Siddiqui and Associates |
|
Designation : |
Company Secretary |
|
Address : |
D-49, Sarita Vihar, New Delhi – 110044, India |
|
Tel No.: |
91-11-41401301 |
|
Mobile: |
91-9811035621 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Gaurav Gupta |
|
10000 |
|
Ms. Santosh Gupta |
|
100 |
|
Mr. Vijay Kumar Gupta |
|
354100 |
|
Mr. Mayank Gupta |
|
10000 |
|
Mr. Ankur Gupta |
|
10000 |
|
|
|
|
|
Total |
|
384200 |
|
|
|
|
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Air Conditioners Equipments |
|
|
|
|
Products : |
Water Cooled Screw
Chillers RWH Series Screw Chiller Water Cooled Scroll
Chillers RWE Series Water Cooled Scroll Chillers Air Cooled Screw
Chillers RAH Series Screw Chiller Air Cooled Acroll
Chillers RAE Aeries Air Cooled Acroll Chillers Precision
Airconditioning Units Compactness Excellent Performance and Reliability Wide Range |
GENERAL
INFORMATION
|
Customers : |
·
Medisphere Group ·
Pine Pharma ·
Ebony Retail Holdings, ·
Mohanlalsons ·
Wet n Wild Resorts ·
Wok n Noodle Bar
|
|
|
|
|
Bankers : |
Kailash Colony
Branch, Zamrud Pur, New Delhi – 110048, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Vinay Aggarwal and Associates Chartered Accountant |
|
Address : |
E-67 (LGF), Maszid Moth, Greater Kailash – III, New Delhi – 110048,
India |
|
|
|
|
Associates/Subsidiaries : |
Ideal Fittings Private Limited Director CIN of Company – 120814 Action Park and Resorts Limited Director CIN of Company - 079914 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Share |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
384200 |
Equity Share |
Rs.10/- each |
Rs.3.842
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3.842 |
3.842 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
9.513 |
6.763 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
13.355 |
10.605 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2.891 |
4.585 |
|
|
2] Unsecured Loans |
|
14.758 |
13.484 |
|
|
TOTAL BORROWING |
|
17.649 |
18.069 |
|
|
DEFERRED TAX LIABILITIES |
|
0.273 |
0.232 |
|
|
|
|
|
|
|
|
TOTAL |
|
31.277 |
28.906 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
7.985 |
8.778 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
8.451 |
17.133 |
|
|
Sundry Debtors |
|
6.246 |
9.827 |
|
|
Cash & Bank Balances |
|
4.998 |
6.107 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
13.409 |
10.004 |
|
Total
Current Assets |
|
33.104 |
43.071 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
9.812 |
22.943 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
9.812 |
22.943 |
|
|
Net Current Assets |
|
23.292 |
20.128 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
31.277 |
28.906 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
91.972 |
62.757 |
|
|
Other Income |
|
1.294 |
0.430 |
|
|
Total Income |
|
93.266 |
63.187 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
4.375 |
2.482 |
|
|
Provision for Taxation |
|
1.625 |
1.027 |
|
|
Profit/(Loss) After Tax |
|
2.750 |
1.455 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
2.722 |
1.993 |
|
|
Depreciation & Amortization |
|
1.014 |
0.848 |
|
|
Other Expenditure |
|
85.155 |
57.434 |
|
Total Expenditure |
|
88.891 |
60.275 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
2.95 |
2.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.76 |
3.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
10.65 |
4.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.33 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.06 |
3.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.37 |
1.88 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U29192DL1998PTC096381 |
|
Name of the
Company |
AERCOMFORT PRIVATE LIMITED |
|
Address |
B-14, Sagar Appartment, 6 Tilak Marg, New Delhi – 110001, India |
|
This form is for |
Creation of
Charge |
|
Type of Charge |
Hypothecation |
|
Particulars of
the charge holder |
State Bank of
Hyderabad Kailash Colony Branch,
Zamrud Pur, New Delhi – 110048, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Deed
Hypothecation of Goods and assets, pledge of goods and assets agreement of
loan for overall limit guarantee etc. |
|
Date of the
instrument creating or modifying the charge |
13.02.2006 |
|
Amount secured by
the charge |
48.500 Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest:
1% above PLR of 2BH with animimum of 12 % p.a. Margin RM Stock
in process stock and spare Q.FC-25% Receivable -50% (with attended of 90
days) |
|
Short particulars
of the property charged (including location of the property) |
Stock in trade Book debts |
|
Particular of the
present modification |
NA |
Profile:
Subject is an Air-conditioning, Ventilation, and Heating
Company. Subject was established in 1968 by Sh. V.K.GUPTA with a vision to provide
quality and efficient air-conditioning at most economical cost. Subject has
capability to design the most complicated air-conditioning systems in most
economical manner and further to execute the turnkey projects in a most
efficient way to the customer satisfaction. They have to their credit large
number of very prestigious turnkey projects executed by in the most efficient
way to their customers’ entire satisfaction.
Subject manufacturer’s widest range of air-conditioning equipment which
includes:
Air / Water Cooled Screw Chillers
Air / Water Cooled Reciprocating Chillers
Shell and Tube Condensers
DX Chillers
They at subject can manufacture air-conditioning equipment
tailor made according to the exact customer’s requirement. They provide a complete
choice of sizes, capacities and arrangement to fulfill any application in
air-conditioning, ventilation and heating.
Subject make air-conditioning equipment have been extensively tested and is
being widely used in large number of installations since 1976 and have proven
their reliability and excellent performance in field operations. Subject make
of equipment is one of the approved makes in CPWD, MES, Airports Authority of
India, and other government organizations.
They at subject select the most economical design for air-conditioning projects
at the tendering / quotation stage which gives their clients most effective
air-conditioning systems. After getting the contract their Engineering
department prepares the constructional drawings for ducting, piping, electrical
and layout of equipment etc. to execute the project in most efficient manner
coordinating with other agencies and within the time frame of the project. They
have large number of Installations completed within the time frame of the project.
Subject is one of the leading contractors for CPWD, MES, Airports Authority of
India, CCW (AIR) and many other government organizations. They have vast
experience in air-conditioning the Airports, Shopping and Commercial Malls,
Multi Storey Buildings, Art Galleries, Technical Installations, Defence
Buildings, Hospitals, Laboratories, Power Plants etc.
Subject is the only organization
registered with the CPWD under Category – I for HVAC works having tendering
limit of Rs.100.000 Millions
Subject has a
well-organized team of Design Engineers, Project Managers, Engineers,
Supervisors and other technical staff to cater all integrated needs of
efficient and organized completion of work within the stipulated period. They
believe in giving good services to their client in achieve their needs.
Air conditioning of Multiplex
- RAVE3 Multiplex cum Shopping Complex at Kanpur with 600 TR
Screw Chillers with 28 Double Skin Air Handling Units.
- GALAXYShopping and Business Mall at Gurgaon with 660 TR
Water Cooled Screw Chillers of EMICON
make.
- Shopping Area of Raheja Square at IMT , Manesar, Gurgaon with 200 TR Screw Chillers of EMICON make.
- Maple Corporate Park at Noida with 1500 TR Water Cooled Screw
Chillers of EMICON MAKE.
- S. L. Tower at Noida with 316 TR Water Cooled Screw Chillers of EMICON Make.
- Saurabh Multiplex at Ghaziabad with 175 TR Water Chilling Units of EMICON make.
Air conditioning of Hospitals :-
- Air conditioning and Ventilation Works for C/o 200 Bedded Hospital at Shastri Park, New Delhi with 3x115
TR A.C.Plant along with 23 Nos. AHU’s and associated works.
- HVAC work for the Administrative
Building at AIIMS, New Delhi with 3x55 TR Air Cooled Scroll Chillers of YORK make.
- Air conditioning of Dr.
Hedgevar Hospital at Karkardooma, Delhi with 3x120 TR A. C. Plant.
- We have the honor of providing controlled climate for B.P.Koirala Institute of Health &
Science at Dharan Nepal with 360 TR Chilled Water Air conditioning
plant with contract price of Rs.300 Lakhs. This is a India aided project for
Nepal.
- Air conditioning of Operation Theatre Block at Military Hospital at Delhi Cantt
with 150 TR Air conditioning plant running since 1981.
- Air conditioning of Operation
Theatre Block at Base Hospital, Delhi Cantt with 120 TR A.C. Plant.
- Air conditioning of X-ray
Block of Base Hospital at Delhi Cantt with 75 TR A.C.Plant
- Air conditioning of ESI
Hospital at Basai Darapur, New Delhi with 110TR Chilled Water
System.
- Air conditioning of Operation
Theatre Block of Military Hospital at Meerut with 160 TR A.C.Plant.
- Air conditioning of New ICU
ward of Military Hospital at Deolali, Nasik with 135 TR A.C.Plant.
Air conditioning of Airports :-
- Air conditioning of Amritsar
Airport at Amritsar (Low Side) with 900 TR Chilled Water Type A. C.
Plant
- Air conditioning of Goa
International Airport Terminal Buildingswith 480 TR Chilled Water
Type A.C.Plant.
- Air conditioning of Terminal Building of Lucknow Airport with 120 TR Chilled Water Type A.C.Plant.
- Air conditioning of Terminal Building of Vadodra Airport with 120 TR Chilled Water Type A.C.Plant.
- Air conditioning of Terminal Building of Nagpur Airport with 80 TR Chilled Water Type A.C.Plant.
- Air conditioning of Terminal Building of Indore Airport with 120 TR Chilled Water Type A.C.Plant.
Air Conditioning of DRY PORTS:-
- Central Airconditioning Plant at ICD / Dadri, Gautam Budh Nagar with 165 TR & 100 TR Screw
Type Chilling Units with 4 Nos. AHU’s along with associated works.
U.S. Aided Project :-
- They have the honor of Air conditioning the National Gene Bank at Pusa which is a U.S. aided project of
its kind in whole of Asia to preserve “Genes” of various agricultural
varieties. The plant capacity installed is 570 TR Chilled Water System
which is working Satisfactorily Since 2 years.
Preservation of Art and Heritage of India :-
- Airconditioning work of New Wing at National Gallery of Modern Art, Jaipur House at India Gate,
New Delhi (New Building)
with A. C. Plant of 2250 TR Capacity.
- We have Air-conditioned the entire building of National Gallery of Modern Art at
India Gate, New Delhi (Existing
Building) with A.C.Plant of 240 TR Capacity.
- Air conditioning of Lalit
Kala Academy Building at Mandi House, New Delhi with 200 TR A.C.
Plant capacity.
TV Studios etc . :-
- They have Air-conditioned the Side Foyers and Office Block at Sirifort, New Delhi with 240
TR Reciprocating Chillers with associated work.
- Theyhave Air-conditioned the first TV Studio at Siri Fort, New Delhi for Delhi Doordarshan to produce the best quality
programme for TV Broadcasting. The A.C.Plant capacity is 400 TR Chilled
Water System.
- We have Air-conditioned the TV
Studio at Worli Bombay.
- Air conditioning of Multi
Storied office Building for Director General of Doordarshan at Mandi House,
New Delhi.
- Air conditioning of Transmitter
Station at TV Tower, Pitampura, NewDelhi.
- Air conditioning of Satyajit
Ray Film & Television Institute at Calcutta with 400 TR
A.C.Plant capacity.
Technical Buildings :-
- Air conditioning of Photo
Mapping Centre at Delhi Cantt with 330 TR A.C.Plant.
- Air conditioning of Printing
Press for Air Survey of India at Delhi Cantt with 240 TR A.C. Plant
capacity.
- Air conditioning of Directorate
of Wheat Research Institute at Karnal with 240 TR A.C.Plant.
- Air conditioning of
communication building at defence science centre at Metcalf house, New Delhi.
- Air conditioning of Super
Computer Centre at Mausam Bhawan in New Delhi with 240 TR A.C.Plant.
Multi Storied Buildings :-
- Air conditioning of Comptroller
Accountant General Office Building at ITO, New Delhi with 240 TR
A.C. Plant.
- Air conditioning of Bihar
Bhawan –II at chanakya puri , New Delhi with 220TR A.C. Plant.
- Air conditioning of Indian
Institute of Foreign Trade, Qutab Institutional Area,New Delhi with
240 TR A.C. Plant.
Thermal Power Stations :-
- Air conditioning of Panipat
Thermal Power Station Unit - IV, Panipat with 240 TR A.C. Plant.
- Air conditioning of Suratgarh
Thermal Power Station Unit 3 / 4, Suratgarh with 460 TR A.C. Plant
- They Trust Will Consider their Organization for your
Air-conditioning needs.
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.40.07 |
|
UK Pound |
1 |
Rs.77.98 |
|
Euro |
1 |
Rs.59.02 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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, we have no basis upon which to
recommend credit dealings |
No Rating |
|