MIRA
INFORM REPORT
|
Report Date : |
22.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KRISHNA STONE TECH PRIVATE LIMITED |
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Formerly Known as : |
DILEEP GRANITE PRIVATE LIMITED |
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Registered Office : |
Guggiretti Area, Bangalore Road, Bellary – 583101, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.07.1991 |
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Com. Reg. No.: |
08-12135 |
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CIN No.: [Company
Identification No.] |
U01410KA1991PTC012135 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK04845B |
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PAN No.: [Permanent
Account No.] |
AAACK9601H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Granite Slabs, Granite Tiles and Artifacts. |
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 174000 |
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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 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 / Factory: |
Guggiretti Area, Bangalore Road, Bellary – 583101, Karnataka |
|
Tel. No.: |
91-8392-250202 / 251000 |
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Mobile No.: |
91-9845994401 |
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Fax No.: |
91-8392-250047 |
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E-Mail : |
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Website : |
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Area : |
130660 sq. ft. |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mrs. A. Usha Rani |
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Designation : |
Director |
|
Address : |
214 / 7, 15th Main Rajaji Nagar, 3rd Block,
Bangalore – 560010, Karnataka |
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Date of Appointment : |
15.07.1991 |
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Name : |
Mr. Dasa Lakshmi. Ramesh Gopal |
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Designation : |
Chairman |
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Address : |
Reserve Policelane, Bellary – 583101 |
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Date of Birth : |
28.08.1950 |
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Qualification : |
M B B S |
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Date of Appointment : |
22.12.1955 |
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Name : |
Mr. A. Mallikarjuna Rao |
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Designation : |
Director |
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Address : |
214 / 7, 15th Main Rajaji Nagar, 3rd Block,
Bangalore – 560010, Karnataka |
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Date of Appointment : |
15.07.1991 |
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|
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|
Name : |
Mr. Dasa Ramesh Vikram Kumar |
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Designation : |
Director |
|
Address : |
Door No. 159, D L shetty Compound, Dar Ground, Bellary – 583101,
Karnataka |
|
Date of Birth : |
29.03.1975 |
|
Qualification : |
B F |
|
Date of Appointment : |
01.02.2005 |
KEY EXECUTIVES
|
Name : |
Mr. S N Mishra |
|
Designation : |
Company Secretary |
|
Address : |
No. 310, 1st Floor, 1st Cross, Thimmareddy
Colony, Jeevanbhimanagar, Bangalore – 560 075, Karnataka, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. D.L. Ramesh Gopal |
|
2500 |
|
Mr. D.R. Krishna Kumar |
|
3250 |
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Mr. D.R. Vikram Kumar |
|
3250 |
|
Mrs. D.R. Radhika |
|
3250 |
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Mr. K. Nagendra Rao |
|
3000 |
|
Mr. Indira Devi |
|
3000 |
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Mr. K. Srinivas Rao |
|
1200 |
|
Mr. A. Mallikarjuna Rao |
|
6630 |
|
Mrs. A. Usha Rani |
|
2090 |
|
Category |
|
Percentage of
Holding |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Granite Slabs, Granite Tiles and Artifacts. |
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Products : |
* Granite Slabs * Tiles * Artifacts |
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|
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Exports : |
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Products : |
Granite Slabs, Granite Tiles and other Stone products |
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Countries : |
Kuwait, UAE, Bahrain, Dubai, Abu Dhabi, Poland, Sri Lanka |
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|
|
|
Terms : |
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Selling : |
L/C and Bill Discounting basis |
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|
|
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Purchasing : |
L/C, Cash and Credit basis |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Granite Slabs, Granite Tiles and other natural products |
|
|
|
612438 |
GENERAL
INFORMATION
|
Customers : |
* End Users |
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|
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No. of Employees : |
Around 210 (Office – 50 and Factory – 160) |
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Bankers : |
* Andhra Bank N R Road, Bangalore - 560002, Karnataka E-Mail : krishnamurthyhn@gmail.com * ICICI Bank Limited * State
Bank of India |
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Facilities : |
The Company enjoys L/C and C/C Limit facilities from it bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chandrappa and Company Chartered Accountants |
|
Address : |
Chowdhary Complex, First Floor, Near Geetha Nursing Home, K.C. Road,
Bellary – 583101, Karnataka |
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|
|
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Associates : |
* Krishna
Transnational Marbles Private Limited, Bangalore |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.100/- each |
Rs.25.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
184970 |
Equity Shares |
Rs.100/-
each |
Rs.18.497
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
18.497 |
6.807 |
6.807 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.984 |
11.491 |
10.875 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
43.481 |
18.298 |
17.682 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
101.052 |
80.256 |
59.254 |
|
|
2] Unsecured Loans |
1.429 |
1.940 |
1.940 |
|
|
TOTAL BORROWING |
102.481 |
82.196 |
61.194 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
Advance from Customers |
0.000 |
8.976 |
5.434 |
|
|
|
|
|
|
|
|
TOTAL |
145.962 |
109.470 |
84.310 |
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|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.620 |
22.414 |
21.035 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
1.613 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.710 |
4.718 |
2.513 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
94.451
|
55.397 |
33.123 |
|
|
Sundry Debtors |
21.428
|
20.695 |
13.851 |
|
|
Cash & Bank Balances |
3.639
|
5.674 |
7.003 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
23.165
|
13.446 |
12.335 |
|
Total
Current Assets |
142.683
|
95.212 |
66.312 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
14.005
|
12.874 |
7.166 |
|
|
Provisions |
15.046
|
0.000 |
0.000 |
|
Total
Current Liabilities |
29.051
|
12.874 |
7.166 |
|
|
Net Current Assets |
113.632
|
82.338 |
59.148 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.001 |
|
|
|
|
|
|
|
|
TOTAL |
145.962 |
109.468 |
84.310 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
295.712 |
155.042 |
|
|
Other Income |
|
0.320 |
3.004 |
|
|
Total Income |
|
296.032 |
158.046 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
4.386 |
0.970 |
|
|
Provision for Taxation |
|
1.850 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
2.536 |
0.970 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
207.889 |
101.117 |
|
|
Administrative Expenses |
|
67.571 |
43.553 |
|
|
Interest |
|
11.869 |
7.946 |
|
|
Depreciation & Amortization |
|
4.377 |
4.459 |
|
Total Expenditure |
|
291.706 |
157.075 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.85
|
0.61 |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.48
|
0.61 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.50
|
0.79 |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.05 |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.02
|
0.70 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.91
|
7.39 |
9.25 |
SISTER CONCERN FINANCIAL ARE GIVEN BELOW:
VIJAYKRISHNA
GRANITE PRIVATE LIMITED
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
|
2.493 |
2.493 |
|
2] Share Application Money |
|
0.000 |
0.000 |
|
3] Reserves & Surplus |
|
9.111 |
9.409 |
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH |
|
11.604 |
11.902 |
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
33.360 |
35.080 |
|
2] Unsecured Loans |
|
0.850 |
1.151 |
|
TOTAL BORROWING |
|
34.210 |
36.231 |
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
|
45.814 |
48.133 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4.519 |
4.521 |
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
INVESTMENT |
|
1.301 |
1.277 |
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
42.038 |
48.636 |
|
Total
Current Assets |
|
42.038 |
48.636 |
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
2.044 |
6.301 |
|
Total
Current Liabilities |
|
2.044 |
6.301 |
|
Net Current Assets |
|
39.944 |
42.335 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
|
45.814 |
48.133 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
10.019 |
4.660 |
|
|
Other Income |
|
0.033 |
0.000 |
|
|
Total Income |
|
10.052 |
4.660 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
(0.242) |
0.313 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
(0.242) |
0.313 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
|
9.563 |
18.145 |
|
|
Administrative Expenses |
|
3.827 |
4.325 |
|
|
Manufacturing Expenses |
|
1.063 |
1.472 |
|
|
Depreciation & Amortization |
|
0.752 |
0.764 |
|
|
Purchased of Finished Goods |
|
3.179 |
12.525 |
|
|
Finished Goods |
|
13.362 |
12.393 |
|
|
Selling and Distribution Expenses |
|
3.559 |
6.594 |
|
|
Financial Expenses |
|
2.376 |
3.434 |
|
Total Expenditure |
|
37.681 |
59.652 |
|
KRISHNA TILES AND
MONUMENTS
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
|
|
|
|
Partners Capital Account n Mrs. D R Krishna
Kumar n E S Varalakshmi |
|
|
1.005 1.165 |
|
Partners Current Account n Mrs. D R Krishna
Kumar n E S Varalakshmi |
|
|
0.248 0.248 |
|
2] Reserves & Surplus |
|
|
0.570 |
|
4] (Accumulated Losses) |
|
|
0.000 |
|
NETWORTH |
|
|
3.236 |
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
|
0.870 |
|
2] Unsecured Loans |
|
|
0.000 |
|
TOTAL BORROWING |
|
|
0.870 |
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
TOTAL |
|
|
4.106 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3.427 |
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
INVESTMENT |
|
|
0.259 |
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
4.287 |
|
Total
Current Assets |
|
|
4.287 |
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
3.867 |
|
Total
Current Liabilities |
|
|
3.867 |
|
Net Current Assets |
|
|
0.420 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
TOTAL |
|
|
4.106 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
|
Sales Turnover |
|
|
21.039 |
|
|
Other Income |
|
|
0.000 |
|
|
Total Income |
|
|
21.039 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.084 |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
0.084 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Administrative Expenses |
|
|
1.820 |
|
|
Depreciation & Amortization |
|
|
0.535 |
|
|
Selling and Distribution Expenses |
|
|
0.331 |
|
|
Financial Expenses |
|
|
0.284 |
|
Total Expenditure |
|
|
2.970 |
|
LOCAL AGENCY
FURTHER INFORMATION
Note
Mr. Raghavendra of the Company confirmed that there were 3 Companies in
the Group as under:
- Krishna
Stone-Tech Private Limited
- Vijaykrishna
Granites Private Limited
- Krishna Tiles
and Monuments
However, all 3 Companies were merged together w.e.f. 01.04.2006, and now
only Krishna Stone-Tech Private Limited exists.
The financials for the year 31.03.2007, comprises the figures for the
merged entities as well.
|
Name of the company |
KRISHNA STONE TECH PRIVATE LIMITED |
|
Presented
By |
Dr. D.L. Ramesh Gopal, Director |
|
1) Date and description of instrument creating the change |
Composite Agreement – No. 40150 dt. 27.07.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.86.000 millions |
|
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 |
Hypothecation of stocks of raw materials and finished goods of granite tiles / slabs meant for export and export bills accompanied by B/L under irrevocable LCs of prime banks |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest on packing credit and FUBD as per HO guidelines and on Term Loan BMPLR+0.25+0.50= 11.25%. 2nd charge on the fixed assets of the company |
|
5) Name and Address and description of the person entitled to the charge. |
Andhra Bank, Karnataka |
|
Corporate identity number (CIN) Foreign company registration number |
U01410KA1991PTC012135 |
|
Name of the Company |
KRISHNA STONE TECH PRIVATE LIMITED |
|
Address |
Guggiretti Area, Bangalore Road, Bellary – 583101, Karnataka |
|
This form is for |
Creation of charges |
|
Type of Charge |
Immovable property and Movable property (not being pledge) |
|
Particulars of the charge holder |
Andhra Bank N R Road, Bangalore - 560002, Karnataka E-Mail : krishnamurthyhn@gmail.com |
|
Amount secured by the charge |
Rs.20.000 millions |
|
Brief of the principal terms and conditions |
Rate of interest: Interest @ 2.75% above BMPLR with a minimum of 15.75% p.a (OCC – Rs.16.000 millions / LC – Rs.4.000 million) Terms of Repayable Repayable on demand Margin: Margin for OCC 30% on stocks and 50% on book debts for LC 10% Extent and operation of the charge: 100% till the closure of the loan |
|
Date of Instrument creating charge |
03.09.2007 |
As per Web Details
Company Profile:
Subject was commissioned
in the year 1988 with a workforce of 9 personnel and one cutting machine. By
the year 2007 they have achieved a production of 35,000 sqm of Granite Slabs,
Tiles, Monuments and currently employing 350 dedicated personnel.
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.39.38 |
|
UK Pound |
1 |
Rs.76.90 |
|
Euro |
1 |
Rs.57.27 |
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 |
YES |
|
--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 |
|