%20AGENCY%20PRIVATE%20LIMITED%2010-Jan-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
10.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
STORES SUPPLY (INDIA) AGENCY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
58 Clive Ghat Road, Street 2nd Floor, Kolkata – 700001,
West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
06.06.1997 |
|
|
|
|
Com. Reg. No.: |
21-84564 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27202WB1997PTC084564 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Importers and indentors of Stockists of Tool Alloys and Special Steel including High Speed Steel, Hot work Tool Steel / Die Block, Plastic Mould Steel, Cold Work Tool Steel, Constructional and Alloy Steel, Seamless Tube, etc. |
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 50864 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed company having
satisfactory track records. Directors are reported as experienced and
respectable businessmen. 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/ Head Office : |
5-B, Clive Ghat Street, 2nd Floor, Kolkata – 700 001, West Bengal, India |
|
Tel. No.: |
91-33-2220 7132 / 2220 2033 / 2220 5834 |
|
Fax No.: |
91-33-2220 1978 |
|
Telex |
021-7676 |
|
Cable |
‘MOLYCHROM’ |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
700 sq. ft |
|
Location : |
Rented |
|
|
|
|
Warehouse: |
P-239, Benaras Road, Belgachia, Howrah – 711 108, West Bengal |
|
Area : |
4000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Branch 1 : |
218, Linghi Chetty Street, Chennai – 600 001, Tamilnadu, India |
|
|
|
|
Branch 2: |
4044, Ajmeri Gate, New Delhi – 110 006, India |
|
|
|
|
Corporate
Office: |
705, Akash Deep Building, 26 – A, Barakhamba Road, New Delhi – 110001,
India |
|
Tel No.: |
91-11-23753390/91/23738542 |
|
Fax No.: |
91-11-23713706 |
|
Email: |
|
|
Website: |
DIRECTORS
|
Name : |
Mr. Shyam Sunder Choudhary |
|
Designation : |
Director |
|
Address : |
5-B, Clive Ghat Street, Kolkata – 700001, West Bengal |
|
Date of Birth/Age : |
25.11.1935 |
|
Date of Appointment : |
06.06.1997 |
|
|
|
|
Name : |
Mr. Pawan Choudhary |
|
Designation : |
Director |
|
Address : |
5-B, Clive Ghat Street, Kolkata – 700001, West Bengal |
|
Date of Birth/Age : |
28.04.1966 |
|
Date of Appointment : |
06.06.1997 |
|
|
|
|
Name : |
Mr. Jitendra Kumar Choudhary |
|
Designation : |
Director |
|
Address : |
3/1 A, Alipore Park Road, Kolkata – 700027, West Bengal |
|
Date of Birth/Age : |
08.10.1979 |
|
Qualification : |
B.Com |
|
Experience : |
30 years |
|
Date of Appointment : |
11.04.2005 |
|
Email: |
|
|
|
|
|
Name : |
Mr. Siddharth Choudhary |
|
Designation : |
Director |
|
Address : |
5-B, Clive Ghat Street, Kolkata – 700001, West Bengal |
|
Date of Birth/Age : |
31.03.1971 |
|
Date of Appointment : |
06.06.1997 |
|
|
|
|
Other Directorship: |
· Eastern Jingying Limited · Nilasari Vinimay Private Limited · Prix Trade and Agencies Private Limited · S S Refineries Private Limited · Venus Exim and Finvest Private Limited |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Kumar Choudhary |
|
Designation : |
Chief Executive Officer |
|
Date of Birth/Age : |
1953 |
|
Qualification : |
B.Com |
|
Experience : |
30 Years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Shyam Sunder Choudhary |
|
100 |
|
Mr. Jitendra Kumar Choudhary |
|
2000 |
|
Mr. Siddharth Choudhary |
|
10400 |
|
Mr. Shyam Sunder Choudhary |
|
20100 |
|
Mrs. Ashwini Choudhary |
|
150000 |
|
Mr. B.P.Kahnani |
|
25000 |
|
Mrs. Chandra Bhan Sharma |
|
30000 |
|
Mrs. Madhurika Choudhary |
|
30200 |
|
Mrs. Sumitra Kahnani |
|
40000 |
|
Mr. Krishna Kumar Choudhary |
|
10000 |
|
Mrs. Nisha Choudhary |
|
10000 |
|
Mrs. Sikha Choudhary |
|
10000 |
|
Mrs. Chanda Choudhary |
|
10000 |
|
Mrs. Jamna Shayam Khandelwal |
|
10000 |
|
Mr. Sudhir Choudhary |
|
20000 |
|
Mrs. Aparna Choudhary |
|
50000 |
|
Mr. Praveen Choudhary |
|
20000 |
|
Mrs. Shakuntala Choudhary |
|
15000 |
|
Mr. K.K. Choudhary |
|
30000 |
|
|
|
|
|
Total |
|
492800 |
|
|
|
|
|
|
|
|
|
Category |
|
Percentage |
|
|
|
|
|
Directors or Relatives of Directors |
|
100 |
BUSINESS DETAILS
|
Line of Business : |
Importers and indentors of Stockists of Tool Alloys and Special Steel including High Speed Steel, Hot work Tool Steel / Die Block, Plastic Mould Steel, Cold Work Tool Steel, Constructional and Alloy Steel, Seamless Tube, etc. |
|
|
|
|
Agencies Held : |
· Bropol Company Limited, Poland · Gloria Materials Technical Corporation, Taiwan · Thai Special Steel Industry, Thailand · Huta Bator S. A., Poland · Metalco GmbH, Germany |
|
|
|
|
Imports : |
|
|
Products : |
·
Tool ·
Die Steel |
|
Countries : |
· China · Germany · Japan · Poland · Russia · South Africa ·
U.K |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit or Contract |
|
|
|
|
Purchasing : |
Cash and Credit (120 days) |
GENERAL
INFORMATION
|
Suppliers : |
· ABS Alloys and Metals, UK · Bropol Company Limited, Poland · Chongoing Special Steel Import Export Corporation, China · Cronimet, Germany · Cronimet, UK · Daye Steel Group Import and Export Company Limited, China · Edelstahl GmbH J P Schumacher, Germany · Star Wires (India) Limited · Steel Authority of India Limited, Div. Visvesvaraya Iron and Steel Plant, etc. |
|
|
|
|
Customers : |
·
Manufacturers ·
Retailers ·
Government Bodies · Bharat Aluminium Company Limited · Hindalco Industries Limited · Indian Aluminium Company Limited · Jindal Aluminium Limited · Orissa Extrusions Limited · Bharat Heavy Electricals Limited · G K W Limited ·
Integral Coach Factory ·
Southern Railway ·
Western Railway · Field Gun Factory, Kalpi Road, Kanpur, Uttar Pradesh, India · Gun Carriage Factory, Jabalpur, Madhya Pradesh, India · Gun and Shell Factory, Cossipore, Kolkata, West Bengal, India · Small Arms Factory, Kanpur, Madhya Pradesh, India · Bokaro Steel Plant · Durgapur Steel Plant · Rashtriya Ispat Nigam Limited ·
Visakhapatnam Steel Plant |
|
|
|
|
No. of Employees : |
50 |
|
|
|
|
Bankers : |
· Corporation Bank Dharamtolla Branch, 8, Lenin Sarani, Kolkata – 700 013, West Bengal, India · Oriental Bank of Commerce Strand Road Branch, 2, Clive Ghat Street, Kolkata – 700 001, West Bengal, India ·
Reserve Bank
of India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
V. P. G. Associates Chartered Accountants, |
|
Address : |
Room No.25, Floor – 10, 23-A, Netaji Subhash Road, Kolkata – 700 001, West Bengal |
|
|
|
|
Associates/Subsidiaries : |
· Prix Trade and Agencies Private Limited · S S Petro Projects Private Limited · S S Refineries Private Limited |
|
|
|
|
Parent Company: |
A S S Group Company |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
993400 |
Equity shares |
Rs.10/- each |
Rs.9.934
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 |
|
9.934 |
4.934 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2.782 |
2.248 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
12.716 |
7.182 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
3.610 |
4.330 |
|
|
2] Unsecured Loans |
|
13.059 |
11.921 |
|
|
TOTAL BORROWING |
|
16.669 |
16.251 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
29.385 |
23.433 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.765 |
0.989 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.096 |
0.084 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
20.444 |
24.451 |
|
|
Sundry Debtors |
|
39.862 |
49.094 |
|
|
Cash & Bank Balances |
|
1.259 |
1.455 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
2.693 |
1.078 |
|
Total
Current Assets |
|
64.258 |
76.078 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
34.371 |
0.000 |
|
|
Provisions |
|
1.370 |
53.729 |
|
Total
Current Liabilities |
|
35.741 |
53.729 |
|
|
Net Current Assets |
|
28.517 |
22.349 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.007 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
|
29.385 |
23.433 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
4.12 |
9.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.80 |
1.41 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U27202WB1997PTC084564 |
||||||||||||
|
Name of the
Company |
STORES SUPPLY (INDIA) AGENCY PRIVATE LIMITED |
||||||||||||
|
Address |
5-B, Clive Ghat Street, 2nd Floor, Kolkata – 700 001, West Bengal, India |
||||||||||||
|
This form is for |
Modification of
Charge |
||||||||||||
|
Type of Charge |
Any Interest in immovable Property Book debts Movable Property (Not being pledge) Plant and Machinery Other movable assets |
||||||||||||
|
Particulars of
the charge holder |
Corporation Bank Dharmtolla
Branch, 8 Lenin Sarani, Kolkata – 700013, West Bengal, India |
||||||||||||
|
Nature or
description of the instrument(s) creating or modifying the charge |
Common deed of
hypothecation of movables/ assets/ debts read with credit sanction
intimation. |
||||||||||||
|
Date of the
instrument creating or modifying the charge |
22.11.2007 |
||||||||||||
|
Amount secured by
the charge |
Rs.56.000
Millions |
||||||||||||
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: For cash Credit
Facility:0.75% below the Banks Prime Lending
Rate (PLR), which is 13.25% p.a. at present, effective rate being 12.50% p.a.
with monthly rests. For Term Loan:
0.25% below the Bank Prime Lending Rate
(PLR), which is 13.25% p.a. at present, effective rate being 13.00% p.a. with
monthly rests. Terms of
repayment: Interest shall be
paid on monthly basis. The credit
facilities will be for period of twelvemonths. Term Loan-Not to
exceed 63 months incl. initial
moratorium period of 63 months, in quarterly installments of Rs.0.525
Million commencing after three months from Dated of 1st
disbursement. Margin : Book debts – 40%
(cover period up to 90 days) Import Letter of
credit – 15% on FOB (cash margin) Term Loan – 37.95
% Extent and
operation of the charge : The charge shall
be applicable to the ultimate balance that may become due to the bank. |
||||||||||||
|
Short particulars
of the property charged (including location of the property) |
Hypothecation of
Book debts, Goods procured LC, Plant and Machinery and Other movable assets. The Goods may
located Company’s registered office, Factory/ Godown or elsewhere. |
||||||||||||
|
Particular of the
present modification |
By Present
modification the overall amount of charge has been enhanced to Rs.56.000
Millions. Charge is modified for additional credit facilities allowed to the
company be the charge-holder. Other terms and conditions remains unchanged. Details of Credit
Facility:
|
|
Name of the company |
STORES SUPPLY (INDIA) AGENCY PRIVATE LIMITED |
||||||
|
Presented By |
Corporation Bank 8, Lenin Sarani,
Kolkata – 700013, India |
||||||
|
1) Date and description of instrument creating the change |
Common Deed of Hypothecation
of Movables/ Assets/ Debts Date 04.09.2004 |
||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.17.000
Millions Nature of the
Facility:
|
||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The Borrower hereby
Hypothecates entire book debts of the firm, hypothecation of goods procured
under LC. |
||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @11% p.a.
being 0.50% over and above the Bank Prime Lending Rate (PLR), Medium Term
Lending Rate (MTLR), which is 10.50% p.a. at present, rising and falling
therewith compounded with monthly rests, whether debited or not, or ast such
other lending rates that the Bank may determine to charge from time to time
in terms of directives of Reserve Bank of India or otherwise determined by
the Bank due to variation in interest in gradation of loan account of the
borrower or otherwise at the Banks absolute discretion without future
reference or notice to the Borrower so long as the principal and /or interest
and /or part thereof remains unpaid. |
||||||
|
5) Name and Address and description of the person entitled to the charge. |
Corporation Bank 8, Lenin Sarani,
Kolkata – 700013, India |
||||||
|
6) Date and brief description of instrument modifying the charge |
N.A. |
||||||
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
Website details:
The company has been into import and marketing of Tool and
Special Steels, which they understand are required by your esteemed organisation.
Having been into the business for almost 50 years, they have vast experience in
marketing Tool Steels of some of the most reputed brand names in the world. As
such, they would like to offer their services to add a new dimension to the
procurement and inventory system through better quality, competitive prices and
on time delivery.
They are sales/marketing representative and/or importer cum
stockiest for some of the most prominent and reputed Tool Steel producers of
the world, some of which are listed below:
·
M/s. Bohler
International Gmbh of Austria – Most
esteemed Tool Steel producer globally.
·
M/s. Edelstahl Witten Krefeld Gmbh
of Germany – A
Thyssen Group company which is the largest producer of Tool Steel
in the world and requires no introduction.
·
M/s. Gloria Material Technology
Corporation of Taiwan – A company setup in technical
collaboration with Bohler of Austria .
·
M/s. Metal Ravne d.o.o. of Slovenia – A mill situated in the Balkans whose quality of steel is
comparable to any West European manufacturer.
·
M/s. Thai Special Steel Industries of
Thailand – Specialises in production of high quality wire rods at their
latest state of the art wire rod plant.
They also deal in products of :
·
M/s. Nachi Fujikoshi Corporation ( Japan )
·
M/s. Daido Steel Company Limited.( Japan )
·
M/s. Hitachi Metals Limited ( Japan )
·
M/s. Nippon Koshua Steel Company Limited of Japan
·
M/s. Chongwon Speciality Steels of South Korea.
·
Apart from indenting, They also maintain a huge inventory of more than 1,000 Mts. of Special Steels
in their warehouses at Delhi,
Kolkata and Chennai for off the shelf/ requirements of their
customers and also to service requirements which are small in quantity and they
can not be imported individually.
·
The main grades of Tool Steels of which we maintain a stock
in their warehouses are as under:
·
Cold Work Tool Steels – AISI D2, D3, O1, O7, A8, S1 and
Chipper Steels.
·
Hot Work Tool Steels – AISI H10, H11, H12, H13, H21
·
Plastic Moulding Steels – AISI P20 (DIN 1.2311, 1.2738,
1.2767)
·
High Speed Steels – AISI M2, M35, M42, T1, T4, T5, T42
·
Steel for drop forging – Die Blocks (DIN 1.2714)
·
Steels for Cold Work Rolls – K310 (DIN 1.2327) and SAE 52100
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.39.29 |
|
UK Pound |
1 |
Rs.77.52 |
|
Euro |
1 |
Rs.57.85 |
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 |
NO |
|
--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 |
|