MIRA
INFORM REPORT
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Report Date : |
21-06-2008 |
IDENTIFICATION
DETAILS
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Name : |
AMRIT EXPORTS PRIVATE LIMITED
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Registered Office : |
1, Abdul Hamid Street (Formely British Indian Street) Room No 605 ,Kolkata 700069, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.03.1996 |
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Com. Reg. No.: |
21-78005 |
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CIN No.: [Company
Identification No.] |
U51109WB1996PTC078005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALA03987E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporter of Laminated Jute Bags, Industrial
Garments, Industrial Leather Gloves , Etc |
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 280000 |
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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. Directors are reported as experienced
and respectable businessmen. Trade relations are fair. Business is active.
Payments are usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Partha Sarkar |
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Designation : |
Sale Person |
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Name : |
Mr.Krishan Agarwal |
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Designation : |
Accountants |
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Name : |
Mr. Prashant |
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Designation : |
Export Manager |
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Contact No.: |
91-33-40106400 /22485640 |
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Date : |
21.06.2008 |
LOCATIONS
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Registered Office : |
1, British Indian Street 6th Floor N-605 Kolkata West
Bengal-700069 India |
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Tel. No.: |
91-33-22485640 |
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Fax No.: |
91-33-22101373 |
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E-Mail : |
amrit@cal. Vsnl.net.in |
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Head Office : |
1, Abdul Hamid Street, (Formerly British Indian Street), Room No. 605,
Kolkata – 700069, West Bengal, India |
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Tel. No.: |
91-33-2485640 / 22107098 / 22427601 |
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Fax No.: |
91-33-2101373 |
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E-Mail : |
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Website : |
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Area : |
Rented -- 700 sq.ft. |
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Location : |
Commercial area |
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Factory /
Warehouse : |
˜
Badu Road,
Ganganagar – 700 132, District North 24 Parganas, West Bengal Tel No. 91-33-25382989 / 2234 ˜
Chandigarh,
Ganganagar – 700 0132, District North 24 Paraganas, West Bengal ˜
Badu Road,
Madhyamgram – 700 129, District North 24 Parganas, West Bengal Tel No. 91-33-25382239 ˜
Nilgunj
Road, Sodepur – 700 110, District North 24 Parganas, West Bengal Tel No. 91-33-25834460-63 |
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Area : |
Owned |
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Location : |
Industrial area |
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Branches : |
B-2/2, Okhla
Industrial Area, Phase II, New Delhi – 110 020 |
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Tel. No.: |
91-11-26386357 /
60 |
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Fax No.: |
91-11-26386362 |
DIRECTORS
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Name : |
Mr. Anand
Buchasia |
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Designation : |
Director |
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Address: |
1, Abdul Hamid Street, (Formerly British Indian Street), Room No. 605,
Kolkata – 700069, West Bengal, India |
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Tel No. : |
91-33-23214846 |
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Date of Birth: |
16.01.1963 |
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Qualification: |
B. Com., ACA |
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Date of
Appointment : |
14.03.1996 |
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Name : |
Mr. Anil Buchasia |
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Designation : |
Director |
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Address: |
1, Abdul Hamid Street, (Formerly British Indian Street), Room No. 605, Kolkata
– 700069, West Bengal, India |
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Qualification
: |
B.Com, ACA |
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Date of Birth
: |
12/09/1964 |
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Date of
Ceasing : |
11.05.1998 |
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Name : |
Mr. Dilip Kumar
Madhogaria |
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Designation : |
Director |
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Address: |
1, Abdul Hamid Street, (Formerly British Indian Street), Room No. 605,
Kolkata – 700069, West Bengal, India |
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Date of Birth : |
12.01.1963 |
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Qualification
: |
CA, ICWAI, PGDM FROM XLRI, M.COM |
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Date of
Appointment : |
14.03.1996 |
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Name : |
Mrs. Prabha
Buchasia |
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Designation : |
Director |
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Address: |
1, Abdul Hamid Street, (Formerly British Indian Street), Room No. 605,
Kolkata – 700069, West Bengal, India |
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Date of Birth : |
16.06.1964 |
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Qualification
: |
B.Com |
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Date of
Appointment : |
15.03.2002 |
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Date of
Ceasing : |
14.03.2005 |
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Name : |
Mr. Ajay Buchasia |
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Designation : |
Director |
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Address: |
1, Abdul Hamid Street, (Formerly British Indian Street), Room No. 605,
Kolkata – 700069, West Bengal, India |
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Date of Birth
: |
12.07.1961 |
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Name : |
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Designation : |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names
of Shareholders (AS ON 31.03.2007) |
No. of Shares |
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Amrit Kunj
Capital Markets Limited |
5508100 |
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Mr. Ajay Buchasia |
6500 |
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Mr. Anand
Buchasia |
10100 |
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Mr. Anil Buchasia |
1400 |
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Mr. Anil
Madhogaria |
4100 |
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Mr. Dilip
Madhogaria |
4600 |
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Ms. Sunita
Madhogaria |
3300 |
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Mrs. Bimla Devi
Buchasia |
9300 |
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Mrs. Mamta Devi
Buchasia |
1800 |
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Mrs. Neeta
Buchasia |
13100 |
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Mrs. Prabha
Buchasia |
1800 |
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Mrs. Annapurna
Devi Madhogaria |
1800 |
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Mrs. Seema Devi
Madhogaria |
1700 |
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Ajay Bhuchasia
HUF |
4000 |
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Dhanpat Khemka
HUF |
100 |
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Mr. Anil
Bhuchasia |
1400 |
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Mr. Prahlad
Khemka |
100 |
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Ms. Simmi Khemka |
100 |
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Mr. Pawan
Madhogaria |
100 |
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Ms. Nirmala Devi
Agarwal |
100 |
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Bimal Kumar
Agarwal HUF |
100 |
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Ms. Bimal Panda |
100 |
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Ms. Nisha Agarwal |
100 |
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Mr. Vinay Kumar
Agarwal |
100 |
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Shahpuris Private
Limited |
50000 |
As on 31.03.2007
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Names
of Shareholders |
Percentage of holding |
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Bodies Corporate |
98.85 |
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Directors or
their relatives |
1.11 |
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Other top 50
shareholders |
0.04 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of
Business : |
Manufacturers and
exporter of Laminated Jute Bags, Industrial Garments, Industrial Leather
Gloves, etc |
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Exports to : |
Germany, Italy,
Spain and Europe |
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Imports from : |
Belgium, China,
Italy and Taiwan |
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Terms : |
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Selling : |
Cash, L/C, Credit
and Cash against Documents terms |
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Purchasing : |
Cash, L/C or
Credit terms |
PRODUCTION STATUS
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Particular |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Woven garments |
Pcs |
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0.600 milllion |
0.500 million |
GENERAL
INFORMATION
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Customers : |
Manufacturer and
Wholesalers |
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Suppliers : |
v
JCT Limited v
Vardhmann
Spinning and Weaving Mills Limited, etc |
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No. of
Employees : |
1200 |
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Bankers : |
Indian Bank,
Strand Road Branch, 3A Hare Street, Kolkata-700001, West Bengal, India |
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Facilities : |
Facility – Rs.
61.500 millions in the year 2003-04 |
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Banking Relations : |
Satisfactory |
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Auditors : |
T N Dutta &
Associates Chartered
Accountants |
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Address : |
87/B, Cossipore
Road, Room No.8, Block B, Kolkata-700002, West Bengal |
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Associates: |
˜
Amrit Impex
Private Limited Activity – Manufacturing of Jute and Cotton Bags Turnover as on 31st March, 2003 – Rs. 31.000 millions Profit After Tax as on 31st March, 2003 – Rs. 1.213
millions Bankers – Punjab National Bank, 1, R. N. Mukherjee Road, Kolkata – 700001, West Bengal Credit Limits – Rs. 18.000
millions |
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Parent Company
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˜
Amrit Kunj
Capital Markets Limited |
CAPITAL STRUCTURE
(As on 31.03.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity shares |
Rs.10/-each |
Rs.60.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
5622500 |
Equity share |
Rs.10/-each |
Rs.56.225millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
56.225 |
56.225 |
56.225 |
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2] Share Application Money |
0.050 |
0.150 |
12.786 |
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3] Reserves & Surplus |
19.964 |
15.098 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
76.239 |
71.473 |
69.011 |
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LOAN FUNDS |
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1] Secured Loans |
138.461 |
99.916 |
70.444 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.767 |
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TOTAL BORROWING |
138.461 |
99.916 |
71.211 |
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DEFERRED TAX LIABILITIES |
2.779 |
1.834 |
3.503 |
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TOTAL |
217.479 |
173.223 |
143.725 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
46.167 |
28.083 |
31.127 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.157 |
4.812 |
5.324 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
102.076
|
90.050 |
85.905 |
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Sundry Debtors |
61.707
|
41.350 |
29.474 |
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Cash & Bank Balances |
0.124
|
0.518 |
1.102 |
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Other Current Assets |
23.173
|
21.637 |
19.795 |
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Loans & Advances |
4.284
|
1.086 |
2.560 |
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Total
Current Assets |
191.364
|
154.641 |
138.836 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
18.394
|
10.837 |
29.459 |
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Provisions |
2.903
|
3.601 |
2.216 |
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Total
Current Liabilities |
21.297
|
14.438 |
31.675 |
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Net Current Assets |
170.067
|
140.203 |
107.161 |
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MISCELLANEOUS EXPENSES |
0.088 |
0.125 |
0.113 |
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TOTAL |
217.479 |
173.223 |
143.725 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
296.132 |
203.380 |
236.669 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
296.132 |
203.380 |
236.669 |
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Profit/(Loss) Before Tax |
7.720 |
2.028 |
5.774 |
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Provision for Taxation |
2.797 |
1.385 |
3.373 |
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Profit/(Loss) After Tax |
4.923 |
0.643 |
2.401 |
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Export Value |
21.280 |
5.301 |
NA |
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Import value |
245.500 |
197.884 |
NA |
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Total Expenditure |
288.412 |
201.352 |
230.895 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.66
|
1.52 |
1.01 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.61
|
0.99 |
0.02 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.23
|
1.44 |
0.05 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.02 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.09
|
1.60 |
1.49 |
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Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.10 |
1.29 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or
modification of charges
|
Corporation
identity number or foreign company registrations number of the company |
U51109WB1996PTC078005 |
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Name of the
company |
AMRIT EXPORTS
PRIVATE LIMITED |
|
Address |
1, Abdul Hamid Street, (Formerly British Indian Street), Room No. 605,
Kolkata – 700069, West Bengal, India |
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This Form is for |
Modification of charge |
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Type of Charges |
Immovable property |
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Particular of the
charge holder |
Indian Bank, Strand Roiad Branch, 3A, Hare Street, Kolkata-700001, West
Bengal, India |
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Nature or
description of the instrument creating charge |
Letter from party confirming extension of equitable mortgage dated
11.06.2007 |
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Date of the
instrument creating charge |
11.06.2007 |
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Amount Secure by
the charge |
Rs.215.400
millions |
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Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of interest EM has been
created for advances made or to be made to the company by way of PC/FBP/FBN/OD
against export incentives receivables together with interest costs and other
charges payable by Amrit Exports Private Limited to the Bank. Terms of
repayment Charge on the
property till the existence of the advance made or to be made. Margin As per sanction
letter to Amrit Exports Private Limited Extent and
Operation of the charge Charge on the
property being property at 1, British India Street, Room Nos.605 and 612,
Kolkata-700069 as security for advance already made and to be granted or advances
to Amrit Exports Private Limited and also as additional security for further
advances made or facilities granted or to be granted by the bank to Amrit
Exports Private Limited upto maximum of Rs0.002 millions as contained in the
letter dated 11.06.2007 |
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Modification
charge Charge
identification number of the charge to be modified |
10056224 |
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Particulars of
the Property charged |
Property at 1,
British India Street, Room Nos. 605 and 612, Kolkata-700069 |
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Date of latest modification
prior to the present modification |
09.06.2007 |
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Particulars of
present modification |
By way of this
modification the company submits letter to bank confirming extension of
equitable mortgage. |
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Corporate identity
number of the company |
U51109WB1996PTC078005 |
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Name of the
company |
AMRIT EXPORTS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
1,British India
Street 6th Floor R-N 605 Kolkata West Bengal India 700069 |
|
This form is for |
Modification Of
Charge |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Indian bank Strand Road
Branch 3/A Hare Street Kolkata West Bengal
700001 |
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Nature of
instrument creating charge |
Letter From Party Confirming Extension Of
Equitable Mortgage Dt:11.06.07 Letter From Party
confirming Extension Of Equitable Mortgage Dt:11.06.07 |
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Date of
instrument Creating the charge |
11.06.07 |
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Amount secured by
the charge |
2154.000 Million |
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Brief of the
principal terms an conditions and extent and operation of the charge |
(A)RATE OF
INTEREST EM has been
created for advances made or to made to the company by way of PC\FBP\FBN\OD
against incentives receivable together with interest costs& other charges
payable by Amrit Exports to the bank (B)Terms of
repayment: Charge on the
property till the existence of the advance made or to be made. (C) MARGIN: As per sanction
letter to Amrit Exports Limited (D) EXTENT AND
OPERTION OF THE CHARGE : Charge on the
property being property at 1, British India
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Particulars of
the present modification |
By way of this
modification the company submits letter to bank confirming extention of
equitable mortgage. |
OTHER INFORMATION:-
Subject is a
subsidiary of Amrit Kunj Capital Markets Limited.
The company’s
product range includes laminated jute bags, industrial garments, industrial
leather gloves, etc.
Subject is an ISO
9001 Certified Company.
It is a Government
of India Recognized Export House.
The company’s
production depends upon orders in hand.
It is in trade terms with:
·
JCT Limited
·
Vardhaman
Spinning and General Mills Private Limited
·
Vineet
Industries
·
Nahar
Industrial Enterprise Limited
·
Shanti
Processors Limited
Website
Details :
About
Company
India
is vibrant Democratic Republic with cheap skilled labour. India is also a
country which produces some of the best cotton in the world. Of late, it has
also started to produce a lot of man-made fibres like polyester. Downstream,
India has very good spinning, weaving and dyeing capacities which all add to
very strong fundamentals for a very strong Garment Industry.
Subject
specializes in the manufacture and export of all kinds of work-wear including
casual wear. Their company is accredited with ISO 9001: 2000 certificate from
DNV Netherlands for “Manufacture and export of ready made garments made of
woven and knitted fabrics”. With the given fundamental strength of their
country and professionalism of their company they are making garments which are
acceptable to the most discerning of European buyers.
(A)
Management: - They are a company consisting of highly qualified professionals
who have had valuable work experience in Multi National Companies.
(B)
Infrastructure and Capacity: - They have about
1500 workers spread over 6 manufacturing unit in Kolkata, India and 1
manufacturing unit in Delhi, India with a capacity to manufacturer 2,50,000
garments every month. They are the only manufacturer of Industrial garments in
Delhi from where they can offer a transit time of 20 days to some European
destinations.
(C)
Machines and
Gerber Auto- CAD Systems: - They have with
them all the latest machines which are required for manufacturing of garments
including Gerber Auto-CAD systems. With the help of these machines and with the
effective quality control systems which they have, they are able to satisfy
even the most quality conscious buyers in Europe. Their buyer profile includes
some of the leading work-wear manufactures in Europe.
(D)Printing
and Embroidery :- They have in-house printing and embroidery facilities. They can do
all types of embroidery, screen printing, transfer printing and heat embossing.
(E)
Raw Materials:- They have arrangements with reputed textile manufacturing
companies in India for un-interrupted supply of quality fabrics as per the
specifications of their clients. They are importing some fabrics like High
Visibility (EN471 certified), Breaver, cordura and other special fabrics from
Europe. Their fabric is AZO free and PCP free. They also manufacture fabric as
per OKO-TEX standards as some of their customers have taken OKO-TEX
certification based on their fabric.
They use accessories which are free from Nickel, lead and other harmful
chemicals. They are also importing many accessories like YKK Zippers, Prym
metal buttons etc. from Europe and South East Asia as per the requirements of
their clients.
(F)
Product and Services: - This is the area where they put a lot of effort. They have been
able to distinguish themselves with a product quality, which has met even the
most stringent quality specifications given by their clients in the European
Markets. Most of their clients are themselves manufacturing garments in Europe
and they have been increasingly shifting more and more of their product ranges
from their own units in Europe to their units in India.
They
believe in providing prompt and efficient services whether it relates to their
commitment for timely dispatches or proper and timely responses to the queries
of their customers. They keep their customers updated about the status of their
shipments.
(G)
Quality Control System:- They have a very detailed and elaborate system for controlling
the quality of their garments. This has been the most significant factor, which
has contributed to the stupendous growth of their company.
They
have an efficient coding system by which they can track down each garment to
the level of worker who has made the garment and to the level of QC Supervisor
who has checked the garment. By a well-defined system of accountability, they
have been able to achieve a quality standard, which matches the garments
manufactured in Europe and this has ensured a steady increase in the number of
their committed customers in Europe.
The
various steps, which they follow for controlling the quality of their garments
have been shown elsewhere in this catalogue.
(H)
Product development: - It is a continuous process in their company to make their
garments more comfortable, safe and convenient to wear. They keep doing product
development with respect to:
The
quality of fabric, accessories and trimmings
The
stitching quality by training their workers and by using better machines
The
patterns by using better technology (Gerber Auto- CAD systems) with a view to
economise on fabric consumption
They have developed Image Garments for many of their clients, for which they
have been able to reduce the lead time considerably.
(I)
Growth: - Within
a small span of six years their company has acquired an enviable reputation in
the European market for quality work-wear. Their sales growth has been
phenomenal during each of the last six years which has been much higher than
the industry average.
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 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.42.97 |
|
UK Pound |
1 |
Rs.84.75 |
|
Euro |
1 |
Rs.66.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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 |
|