MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
CORONA (OVERSEAS) LIMITED |
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Registered Office : |
Premier Ho, 12/13 Hatton Gdn, London EC1N 8AN |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2005 |
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Date of Incorporation : |
12.06.1947 |
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Com. Reg. No.: |
00436862 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Importers and Exporters of Precious and Semi-Precious Stones |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Company
Identification Details
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Subject Reported on |
CORONA (OVERSEAS) LIMITED |
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Trading Address |
PREMIER HO,12-13 HATTON GDN,LONDON,EC1N 8AN |
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Telephone |
020-7405-3041 |
Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
00436862 |
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Date of Incorporation |
12/06/1947 |
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Registered Office |
Premier Ho, 12/13 Hatton Gdn, London EC1N 8AN |
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Date of Last Annual Return to Registry |
30/11/2006 |
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Activities |
Precious and semi-precious stones importers and exporters.
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Accounts |
The last filed accounts cover the period to 30/06/2005 and were filed
on 07/04/2006 |
Recently Filed
Documents
Details of the most recent documents
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Date Received |
Description |
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30/11/2006 |
Annual Return |
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30/06/2005 |
Financial Statement / Set of Accounts |
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It should be noted that there is no legal requirement to file
satisfaction details of mortgages/charges at Companies House. |
Known Directors
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
16, MAYFIELD GARDENS , LONDON , NW4 2QA |
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Country of Origin |
BRITISH |
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Date of Birth |
16/06/1957 |
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Appointment Date |
30/11/1991 |
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Other Appointments |
CORONA (OVERSEAS) LIMITED, CORONA (DIAMONDS) LIMITED, THE TRUSTEES
OF THE J.S.S.M. , MEWSBEST LIMITED |
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SECRETARY |
MRS ALISON LEVY |
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Address |
16 MAYFIELD GARDENS, , LONDON , NW4 2QA |
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Country of Origin |
BRITISH |
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Date of Birth |
15/01/1961 |
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Appointment Date |
01/03/1999 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
ELIAS LEVY |
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Address |
26 , RUNDELL CRESCENT , LONDON , - - |
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Date of Birth |
03/05/1917 |
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Resignation Date |
07/07/2001 |
Share Summary
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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Abraham Levy |
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85.00 |
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Y Levy |
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15.00 |
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Mortgages and Charges
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Total Registered |
1 |
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Total Outstanding |
1 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
21/05/1996 |
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Date Registered |
30/05/1996 |
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Type |
395 |
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Date Created |
21/05/1996 |
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Lender |
BARCLAYS BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
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Details |
. FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL
BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT
FOR FULL DETAILS |
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Satisfied? |
No |
Public Record
Information
Summary of CCJ's/Scottish Decrees
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There are no unsatisfied CCJs against the company. |
Operations
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Activities |
Precious and semi-precious stones importers and exporters.
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Sic Code |
Description |
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5170 |
Other wholesale |
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Staff Employed |
3 |
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Auditors |
BDO Stoy Hayward LLP |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e.
unqualified with no referrals) on the latest accounts. |
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Bankers |
Barclays Bank PLC |
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Sort Codes |
203775 |
Financial Data
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The following figures are shown in units of 000 |
Profit and Loss
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/06/2005 |
30/06/2004 |
30/06/2003 |
30/06/2002 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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SALES |
3,192 |
3,959 |
4,096 |
5,174 |
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Other operating income |
15 |
22 |
21 |
- |
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Cost of goods sold |
2,670 |
3,437 |
3,625 |
4,634 |
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GROSS PROFIT |
522 |
522 |
471 |
540 |
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General administration costs (-) |
336 |
342 |
330 |
459 |
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Wages and Salaries |
154 |
168 |
130 |
305 |
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Depreciation |
3 |
4 |
5 |
1 |
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Net Operating Profit(Loss) |
201 |
202 |
162 |
81 |
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Non Trading Income |
3 |
0 |
0 |
0 |
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Total Non Trading Income |
3 |
0 |
0 |
0 |
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Interest expenses & similar (-) |
59 |
52 |
46 |
46 |
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Financial Expenses |
59 |
52 |
46 |
46 |
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PRE TAX PROFIT |
144 |
149 |
117 |
36 |
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Other Taxation |
0 |
0 |
1 |
10 |
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Taxation |
28 |
28 |
22 |
7 |
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PROFIT AFTER TAX |
117 |
121 |
94 |
18 |
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Net Profit |
117 |
121 |
94 |
18 |
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Dividends Payable |
76 |
154 |
81 |
0 |
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RETAINED PROFITS |
41 |
-33 |
13 |
18 |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/06/2005 |
30/06/2004 |
30/06/2003 |
30/06/2002 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
8 |
11 |
14 |
4 |
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Plant, machinery & equipment |
8 |
11 |
14 |
4 |
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TOTAL CURRENT ASSETS |
1,949 |
2,211 |
2,122 |
2,285 |
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Stocks |
868 |
950 |
840 |
833 |
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Trade Debtors |
978 |
1,088 |
1,092 |
1,272 |
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Other Receivables |
92 |
155 |
167 |
169 |
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Prepaid expenses |
10 |
16 |
22 |
9 |
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Cash |
1 |
2 |
2 |
2 |
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TOTAL ASSETS |
1,957 |
2,222 |
2,136 |
2,289 |
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TOTAL CURRENT LIABILITIES |
1,164 |
1,470 |
1,352 |
1,332 |
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Trade Creditors |
354 |
458 |
505 |
686 |
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Bank Overdraft |
676 |
865 |
682 |
496 |
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Loans From Principals |
5 |
- |
- |
- |
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Taxes |
103 |
119 |
70 |
134 |
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Accruals & deferred income |
26 |
26 |
31 |
16 |
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WORKING CAPITAL |
785 |
741 |
771 |
953 |
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TOTAL LONG TERM LIABS |
0 |
0 |
0 |
186 |
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NET ASSETS/(LIABILITIES) |
793 |
752 |
785 |
958 |
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SHARE CAPITAL + RESERVES |
793 |
752 |
785 |
772 |
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Issued Share Capital |
3 |
3 |
3 |
3 |
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Profit and Loss account |
790 |
749 |
782 |
769 |
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SHAREHOLDERS FUNDS |
793 |
752 |
785 |
772 |
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CAPITAL EMPLOYED |
793 |
752 |
785 |
958 |
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TANGIBLE NET WORTH |
793 |
752 |
785 |
772 |
Key Credit Ratios
|
Accounts Date |
30/06/2005 |
30/06/2004 |
30/06/2003 |
30/06/2002 |
|
Current Ratio |
1.67 |
1.50 |
1.57 |
1.72 |
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Profit Before Tax |
0.05 |
0.04 |
0.03 |
0.01 |
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Creditors Days (D.P.O) |
48.39 |
48.64 |
50.85 |
54.03 |
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Quick Ratio |
- |
- |
- |
- |
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Return on Assets |
7.36 |
6.71 |
5.48 |
1.57 |
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T.N.W/Total Assets |
0.41 |
0.34 |
0.37 |
0.34 |
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Return on Capital |
18.16 |
19.81 |
14.90 |
3.76 |
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Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
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Equity Gearing |
- |
- |
- |
0.04 |
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Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Summary
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Turnover |
Turnover decreased by more than 19% in the period. Turnover totaled
GBP 3,192,000 for the period. |
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Operating Profit |
Totaled GBP 201,000 In the period prior a profit of GBP
202,000 was achieved. |
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Pre Tax |
The subject made a profit of GBP 144,000 compared with a profit
of GBP 149,000 in the previous period. |
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Working Capital |
The company's working capital improved in the period by 6% |
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Tangible Net Worth |
Net worth increased by 41,000 during the period and now stands at GBP
793,000 |
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Fixed Assets |
The subjects fixed assets reduced during the period by GBP 3,000
to GBP 8,000 and are now 0% of total assets compared with 0% in the
previous period |
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Long Term Liabilities |
The company's long term liabilities increased during the period by 0%
and are now 3% of net worth compared with 3% in the previous period |
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Long Term Liabilities |
Long term liabilities are now 1% of total assets compared with 1% in
the previous period |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)