MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL TEXTILES INDUSTRIES |
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Registered Office : |
Plot No.41, Industrial Area, NIT, Faridabad – 121001, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1985 |
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PAN No. : |
ALLPK3326K |
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TIN No. : |
06261322116 09607600509 |
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IEC No. : |
0507061659 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter of Textile and Fabrics |
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 7500 |
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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 concern meeting its normal
commitments timeously. Trade relations are fair. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. V.S. Kukreja |
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Designation : |
Proprietor |
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Mobile No: |
91-9811408097 |
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Date : |
04.06.2008 |
LOCATIONS
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Registered Office / Factory : |
Plot No. 41, Industrial Area, NIT, Faridabad-121001, Haryana, India |
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Tel. No.: |
91-129-4027139 |
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Mobile No.: |
91-9811408097 |
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Email : |
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Area : |
1000 sq fts. |
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Location : |
Owned |
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Branch / Factory : |
5P 37/A, NIT Faridabad 121001, Haryana, India |
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Area : |
300 sq mt |
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Location : |
Owned |
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Godown : |
5C/14, B.P. NIT, Faridabad Opposite Bakkay Bihari Mandir |
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Area : |
100 sq mtr |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. V.S. Kukreja |
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Designation : |
Proprietor |
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Date of Birth/Age : |
59 years |
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Qualification : |
Under Graduate |
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Experience : |
26 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter of Textile and Fabrics |
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Products: |
v Press Pad Fabric v PP Liner v Cotton v Wrapping Cloth v Commercial v Cotton Liner v Cotton Chaffer
CD v Cotton Chaffer
CC |
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Exports : |
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Products: |
Textile Goods (Home Furnishing) |
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Countries : |
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Terms : |
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Selling : |
L/C, Credit (30 Days), Cash |
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Purchasing : |
L/C, Credit (30 Days), Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers , End Users |
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No. of Employees : |
19 (Office 5, Factory 14) |
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Bankers : |
Oriental Bank of Commerce, NIT Industrial Area Branch |
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Facilities : |
Cash Credit Rs. 10.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. K. Gupta Chartered Accountant |
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Address : |
Sector -7, Faridabad |
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Name : |
Surinder and Associates Chartered Accountant |
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Address : |
Sector7, Faridabad |
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Membership: |
Haryana Chamber of Commerce and Industries National Small Industries
Corporation Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 15.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 15.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
SUMMARISED DETAILS
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Particulars |
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31.03.2008 |
31.03.2007 |
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Proprietors share capital |
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3.500 |
3.400 |
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Fixed assets |
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6.900 |
-- |
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Inventories |
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5.600 |
-- |
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Sundry Debotrs |
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3.600 |
-- |
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Cash and Bank Balance |
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0.234 |
-- |
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Current Liabilities |
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7.700 |
-- |
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Sales Turnover |
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31.000 |
26.700 |
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Profit Before Tax |
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1.250 |
1.134 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart:-
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Parameters |
Detail |
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Existence
Verification |
No 2009/54147 |
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Name |
Royal Textile Industries |
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Address |
Plot no. 41, Industrial Area, NIT, Faridabad 121001 |
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2nd Address |
Plot no. 41, Industrial Area, NIT, Faridabad 121001 |
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Phone / Mobile No |
91-9811408097 |
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Email |
royal_textile41@yahoo.co.in |
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Electricity Bill |
ELECTRICITY BILL IS IN THE NAME OF COMPANY |
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Statutory
Approvals |
PROPRIETORSHIP |
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Legal Status of Firm |
Sole Proprietor of Mr. Kukreja Aged 59 under |
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Income tax Registration |
ALLPK3326K |
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STATE SALES TAX Registration |
6261322116 |
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VAT / Tin Registration |
6261322116 |
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Import Export Code |
0507061659 |
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Name of Bank |
Oriental Bank of Commerce, Faridabad |
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Current Account number |
Not Disclosed |
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Account Since |
1984 onwards |
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Emp PF Registration Number |
Yes Registered with P. F. |
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Company ESi Registration Number |
Yes Registered with ESI |
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RBI Code Number |
Pan No ALLPK3326K |
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Credibility
Factors |
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Indiamart Client Since |
New Member |
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Year of Establishment |
1985 |
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Trade
Affliations |
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Export Promotion Council |
Textible Export Promotion Council |
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Chambers of Commerce Membership |
Haryana Chamber of Commerce and Industries National Small Industries
Corporation Limited |
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Standards and
Certifications |
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Quality Management Systems |
They are maintaining quality according to |
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Environment Management Systems |
Yes |
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Safety Certificates |
No |
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Product Certificates |
No |
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Other Certificates |
ISO – Yes (NANZ) – Certificates. |
Trade References:-
v Godyar India Limited, Faridabad
v Contitech India Limited, Sonipath, Haryana
v Dharmsheela Belting, Sonipath, Haryana
v India Mart
v India Today
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.92 |
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UK Pound |
1 |
Rs.84.48 |
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Euro |
1 |
Rs.66.66 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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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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