MIRA
INFORM REPORT
|
Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ORIGONI ZANOLETTI S.P.A. |
|
|
|
|
Registered Office : |
Viale Leonardo
Da Vinci, 285 20090 - Trezzano sul
Naviglio (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
02.01.1975 |
|
|
|
|
Com. Reg. No.: |
MI146-198568 |
|
|
|
|
Legal Form : |
Joint Stock Company with Sole Shareholder |
|
|
|
|
Line of Business : |
Production and Basic Transformation of Non Ferrous Metals. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
Eur 802.000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
name & address
Origoni Zanoletti S.p.a.
Viale Leonardo Da
Vinci, 285
20090 - Trezzano sul Naviglio (MI) -IT-
SUMMARY
|
Fiscal Code |
: |
06000550159 |
|
Legal Form |
: |
Joint Stock company with sole shareholder |
|
Start of Activities |
: |
02/01/1975 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
75.000.000/100.000.000 Eur |
|
Number of Employees |
: |
from 51 to 70 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
802.000 - Eur |
|
Score |
: |
Risk normal |
|
Creditworthness Rate |
: |
Good |
|
|
|
Under the financial aspect a certain balance is reported which leads |
|
|
|
to a credit with a very limited risk. |
ACTIVITY
Production and basic transformation of non ferrous metals.
Wholesale of half-manufactured ferrous metals.
LEGAL DATA
Legal Form
: Joint Stock company with sole shareholder
|
Fiscal Code
: 06000550159 |
|
Foreign Trade Reg. no.
: MI079091 since 30/12/1991 |
|
Foreign Trade Reg. no.
: 79091 of Milano since 30/12/1991 |
|
Foreign Trade Reg. no.
: 079091 of Milano since 30/12/1991 |
|
Chamber of Commerce no. :
1057348 of Milano since 29/12/1980 |
|
Chamber of Commerce no. :
327194 of Padova |
|
Chamber of Commerce no. :
169496 of Varese since 09/12/1981 |
|
Chamber of Commerce no. :
341355 of Verona |
|
Firms' Register : MI146-198568 since 19/02/1996 |
|
V.A.T. Code : 06000550159 |
|
Court : 198568 of Milano |
|
Foundation Date |
: 02/01/1975 |
|
|
Establishment Date |
: 03/11/1980 |
|
|
Start of Activities |
: 02/01/1975 |
|
|
Legal Duration Date |
: 31/12/2051 |
|
|
Nominal Capital |
: 2.915.232 |
Eur |
|
Subscribed Capital |
: 2.915.232 |
Eur |
|
Paid up Capital |
: 2.915.232 |
Eur |
MEMBERS
|
Bianchi |
Roberto |
|
Born in Carate Brianza |
(MB) |
on 06/11/1947 |
- Fiscal Code : BNCRRT47S06B729Q |
|
Residence : |
Piazzale |
Aquileja |
, 0006 |
- 20144 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2005 |
|
|
No Protests registered.
|
Pugno-vanoni |
Vittorio |
|
Born in Milano |
(MI) |
on 23/01/1934 |
- Fiscal Code : PGNVTR34A23F205V |
|
Residence : |
Viale |
Elvezia |
, 0018 |
- 20154 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2005 |
|
|
No Protests registered.
|
Origoni |
Giuseppe |
|
Born in Milano |
(MI) |
on 15/02/1919 |
- Fiscal Code : RGNGPP19B15F205A |
|
Residence : |
Via |
Giacomo Leopardi |
, 12 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
30/11/1982 |
|
|
No Protests registered.
|
Lazzaroni |
Bruno |
|
Born in Milano |
(MI) |
on 14/02/1947 |
- Fiscal Code : LZZBRN47B14F205T |
|
Residence : |
Via |
Fratelli Gorlini |
, 9 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2005 |
|
|
|
Procurator |
27/05/2002 |
|
|
|
Managing Director |
27/04/2005 |
|
|
No Protests registered.
|
Origoni E C S.p.a. |
|
|
- Fiscal Code : 00744900150 |
|
Via |
Leonardo Da Vinci |
, 285 |
- 20069 |
Trezzano sul Naviglio |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
|
|
No Protests registered.
|
Zanoletti |
Giovanni Alberto |
|
Born in Luino |
(VA) |
on 06/03/1943 |
- Fiscal Code : ZNLGNN43C06E734O |
|
Residence : |
Via |
Mozart Wolfango |
, 9 |
- 20122 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2005 |
|
|
No Protests registered.
|
Cimmino |
Augusto |
|
Born in Gragnano |
(NA) |
on 29/08/1945 |
- Fiscal Code : CMMGST45M29E131E |
|
Residence : |
Via |
Bertini Giovanni Battista |
, 0029 |
- 20154 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
27/04/2005 |
|
|
|
Director |
27/04/2005 |
|
|
|
Board Chairman |
27/04/2005 |
|
|
No Protests registered.
|
Tozzi |
Ettore |
|
Born in Siziano |
(PV) |
on 20/05/1943 |
- Fiscal Code : TZZTTR43E20E265I |
|
Residence : |
Via |
Bari |
, 24 |
- 20143 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2005 |
|
|
|
Procurator |
22/03/2002 |
|
|
|
Managing Director |
27/04/2005 |
|
|
No Protests registered.
|
Visentin |
Adele Vally |
|
Born in Paderno Dugnano |
(MI) |
on 25/09/1952 |
- Fiscal Code : VSNDVL52P65G220T |
|
Residence : |
Via |
S. Francesco |
, 0030 |
- 20020 |
Ceriano Laghetto |
(MB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
03/02/1986 |
|
|
No Protests registered.
COMPANIES CONNECTED TO MEMBERS *
*checkings have been performed on a national scale.
*In this module are listed the companies in which members hold or held
positions.
|
ORIGONI |
GIUSEPPE |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
ORIGONI E C S.P.A. |
Trezzano sul Naviglio (MI) - IT - |
00744900150 |
Board Chairman |
Active |
Registered |
|
ZANOLETTI METALLI S.P.A. |
Trezzano sul Naviglio (MI) - IT - |
12103950155 |
Director |
- |
Ceased |
|
ZANOLETTI METALLI S.P.A. |
Trezzano sul Naviglio (MI) - IT - |
12103950155 |
Board Chairman |
- |
Ceased |
|
LAZZARONI |
BRUNO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
LAVEZZARI - METCOM S.P.A. |
Corsico (MI) - IT - |
00804180156 |
Procurator |
Dismiss |
Liquidated |
|
PUBLICENTER SNC DI LAZZARONI BRUNO E C. |
Corsico (MI) - IT - |
08505500150 |
Partner |
- |
Ceased |
|
CIMMINO |
AUGUSTO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
ORIGONI E C S.P.A. |
Trezzano sul Naviglio (MI) - IT - |
00744900150 |
Director |
Active |
Registered |
|
ORIGONI E C S.P.A. |
Trezzano sul Naviglio (MI) - IT - |
00744900150 |
Assistant board Chairman |
Active |
Registered |
|
ZANOLETTI METALLI S.P.A. |
Trezzano sul Naviglio (MI) - IT - |
12103950155 |
Managing Director |
- |
Ceased |
|
ZANOLETTI METALLI S.P.A. |
Trezzano sul Naviglio (MI) - IT - |
12103950155 |
Director |
- |
Ceased |
|
ZINCHERIA ORIGONI SPA |
Trezzano sul Naviglio (MI) - IT - |
06000530151 |
Managing Director |
Active |
Registered |
|
ZINCHERIA ORIGONI SPA |
Trezzano sul Naviglio (MI) - IT - |
06000530151 |
Director |
Active |
Registered |
|
ZINCHERIA ORIGONI SPA |
Trezzano sul Naviglio (MI) - IT - |
06000530151 |
Procurator |
Active |
Registered |
|
TOZZI |
ETTORE |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
ZANOLETTI METALLI S.P.A. |
Trezzano sul Naviglio (MI) - IT - |
12103950155 |
Director |
- |
Ceased |
The indication "REGISTERED" as Firm Status could refere to
Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request further
investigations.
CAPITAL SHAREHOLDERS
|
Style / Name |
Seat / Address |
Fiscal Code |
Owned Shares |
% of Ownership |
|
Origoni E C S.p.a. |
Trezzano sul Naviglio - IT - |
00744900150 |
|
100,00 |
DIRECT PARTICIPATIONS
The Company under review has no participations in other Companies.
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Viale |
Leonardo Da Vinci |
, 285 |
- 20090 - |
Trezzano sul Naviglio |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/484221 |
|
- |
Branch |
(Office with warehouse ) |
since 26/04/2005 |
in : |
|
|
|
|
|
Via |
Delle Nazioni |
, 12/14 |
- 37012 - |
Bussolengo |
(VR) |
- IT - |
|
|
|
|
Employees |
: 51 |
|
|
|
|
Fittings and Equipment |
for a value of
14.490.000 |
Eur |
|
|
|
|
Stocks |
for a value of
13.580.000 |
Eur |
|
|
|
|
Vehicles |
for a value of
180.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
|
|
The firm operates abroad as importer. .
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Import comes generally from the following nations:
|
- Germania |
|
- Gran Bretagna |
|
- Belgio |
|
- Francia |
|
- Austria |
Export is mainly towards:
|
- Austria |
|
- Francia |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Changes to the
legal form |
|
Former legal
form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
10/01/1981 |
|
Ex-Members /
Ex-Positions |
|
Origoni |
Carlo |
|
|
|
Position |
|
Chairman |
|
Cimmino |
Augusto |
|
on 29/08/1945 |
|
Fiscal residence : |
Via |
Correggio |
, 8 |
- 20063 |
Cernusco sul Naviglio |
(MI) |
- IT - |
|
Position |
|
Managing Director |
|
Origoni |
Giuseppe |
|
Born in Milano |
on 15/02/1919 |
- Fiscal Code : RGNGPP19B15F205A |
|
Residence : |
Via |
Giacomo Leopardi |
, 12 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
|
Chairman |
|
Former seats |
|
- |
Branch |
(Branch ) |
|
|
|
|
|
Via |
Lura |
- 21042 |
- Caronno Pertusella |
(VA) |
- IT - |
|
- |
Branch |
(office ) |
since 14/12/2000 |
|
|
|
|
|
Via |
Della Croce Rossa |
- 35129 |
- Padova |
(PD) |
- IT - |
|
The firm absorved |
|
Zanoletti Metalli S.p.a. |
|
Via |
Leonardo Da Vinci |
, 285 |
, 20090 |
, Trezzano sul Naviglio |
(MI) |
- IT - |
|
Fiscal Code: 12103950155 |
|
Date |
: |
20/09/2000 |
|
The firm absorbed by merging of |
|
Zanoletti Metalli S.p.a. |
|
Via |
Leonardo Da Vinci |
, 285 |
, 20090 |
, Trezzano sul Naviglio |
(MI) |
- IT - |
|
Fiscal Code: 12103950155 |
|
Date |
: |
20/09/2000 |
|
Project of merging by taking over of |
|
Zanoletti Metalli S.p.a. |
|
Via |
Leonardo Da Vinci |
, 285 |
, 20090 |
, Trezzano sul Naviglio |
(MI) |
- IT - |
|
Fiscal Code: 12103950155 |
|
Date |
Merging/Splitting-up Project : |
21/03/2000 |
PAYMENTS ANALYSIS
The average term of debts to suppliers is higher than the sector one.
PAYMENTS SCORE : - No insolvency
CREDIT REVOLVING
During last Year, the subject of inquiry has not been monitored by our
company.
PROTESTS
Protests checking on the subject firm has given a negative result.
LEGAL PROCEDURES
None reported, standing to the last received edition of the Official
Publications.
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
|
Immovable Type |
Value |
|
Real estates |
5.902.577 .Eur |
NB.: For Capital Companies the value of the Immovables is the one
reported in the last available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Subject is active since 1975
In the economic management , good and bad results followed on by turns.
yet with a positive result in the 2006 (r.o.e. 2,95%). Upward trend as to the
turnover in the last financial year (+30,34%).
The operating result in 2006 was positive (1,53%) falling within the
field's average.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,82) but with an increase as against the previous accounting
period.
Financial indebdtedness is under control whereas debts to suppliers are frequent
and higher than sector's average.
Liquidity is however good.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
90.547.256 |
filed balance sheet |
|
Profit (Loss) for the period |
397.544 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
69.465.605 |
filed balance sheet |
|
Profit (Loss) for the period |
-51.054 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
67.883.884 |
filed balance sheet |
|
Profit (Loss) for the period |
882.931 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2003 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
56.546.202 |
filed balance sheet |
|
Profit (Loss) for the period |
445.557 |
filed balance sheet |
BALANCE SHEETS
From our constant monitoring of the Public Administration, actually, no
more recent balance sheets result to be filed.
|
Balance Sheet as
at 31/12/2006 - Months 12 - Currency Eur - Amounts x 1 |
|
Balance Sheet as
at 31/12/2005 - Months 12 - Currency Eur - Amounts x 1 |
|
Years |
|
|
2006 |
2005 |
|
|
BALANCE SHEET
ACCOUNTS |
|
|
|
|
. |
|
|
|
|
|
ASSETS |
|
|
|
|
|
CREDITS TO SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
7.007.763 |
7.580.014 |
|
. Intangible assets |
|
|
37.207 |
92.239 |
|
. Tangible fixed assets |
|
|
6.953.303 |
7.469.701 |
|
. . Land and buildings |
|
|
5.902.577 |
6.094.733 |
|
. . Plants, Equipm.and Machinery |
|
|
878.877 |
1.170.546 |
|
. Long-term Investments |
|
|
17.253 |
18.074 |
|
. . Financial loans |
|
|
17.253 |
18.074 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
48.028.734 |
34.375.900 |
|
. Stock |
|
|
8.403.456 |
6.156.081 |
|
. Credits |
|
|
37.289.357 |
27.528.167 |
|
. . Credits to clients |
|
|
30.513.988 |
22.751.848 |
|
. . Other credits |
|
|
6.775.369 |
4.776.319 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
2.335.921 |
691.652 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
9.286 |
8.574 |
|
TOTAL ASSETS |
|
|
55.045.783 |
41.964.488 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
13.459.737 |
13.398.562 |
|
. Company's capital |
|
|
2.915.232 |
2.915.232 |
|
. Reserves |
|
|
6.222.853 |
6.222.849 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
3.924.108 |
4.311.535 |
|
. Profit (loss) |
|
|
397.544 |
-51.054 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
359.395 |
363.364 |
|
SEVERANCE INDEMNITY FUND |
|
|
835.850 |
848.370 |
|
DEBTS |
|
|
40.325.465 |
27.292.401 |
|
. Financial M/L terms |
|
|
|
|
|
. . Financial M/L term banks |
|
|
|
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
464.595 |
212.729 |
|
. . Financial short-term banks |
|
|
464.595 |
212.729 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
39.384.053 |
26.579.381 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
476.817 |
500.291 |
|
ACCRUED EXPENSE |
|
|
65.336 |
61.791 |
|
TOTAL LIABILITIES |
|
|
55.045.783 |
41.964.488 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
90.672.189 |
69.597.917 |
|
. Revenues from sales/services |
|
|
90.547.256 |
69.465.605 |
|
. Change of stock (products) |
|
|
|
|
|
OPERATING EXPENSES |
|
|
89.824.971 |
69.383.825 |
|
. Purchasing expenses |
|
|
85.878.659 |
60.734.724 |
|
. Change of stock (raw material) |
|
|
-2.247.375 |
2.495.491 |
|
. Expenses from services |
|
|
2.884.792 |
2.822.131 |
|
. Expenses from leasing |
|
|
117.028 |
109.668 |
|
. General expenses/sundry charges |
|
|
139.187 |
131.645 |
|
. Staff expenses |
|
|
2.252.010 |
2.259.888 |
|
. Depreciation/Devaluation costs |
|
|
800.670 |
830.278 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-37.102 |
-38.394 |
|
. Financial charges |
|
|
-302.741 |
-335.508 |
|
. Financial revenues |
|
|
265.639 |
297.114 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-3.934 |
2.105 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
806.182 |
177.803 |
|
TAX |
|
|
408.638 |
228.857 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
397.544 |
-51.054 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
2,03 |
1,87 |
1,55 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
2,82 |
1,98 |
2,58 |
|
Current ratio |
Units |
=> 1 |
l |
1,19 |
1,25 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,98 |
1,03 |
0,90 |
|
Return on Sales |
% |
|
l |
1,32 |
1,12 |
3,79 |
|
Average stock waiting period |
dd |
|
l |
33,40 |
31,89 |
46,81 |
|
Credits to clients average term |
dd |
|
l |
121,28 |
117,90 |
125,74 |
|
Debts to suppliers average term |
dd |
|
l |
159,51 |
150,26 |
130,42 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 0,04 |
- 0,05 |
- 0,92 |
|
Labour cost incidence |
% |
|
l |
2,48 |
3,25 |
14,54 |
O.V. = Optimal Value. When not present refer to the sector's.
A coloured item indicates the opinion of the rate during the last
financial year
(green=good; orange=not optimal; red=insufficient; n.c.=not computable)
CREDIT OPINION
On the basis of the above mentioned, and the sales volume obtained, we
deem that the maximum exposure for short and medium term transactions ( 90 -
120 days ) could be of:
802.000 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
3.839.216 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
SECTOR DATA
The values are calculated on a base of 386 significant companies.
The companies cash their credits on an average of 125 dd.
The average duration of suppliers debts is about 130 dd.
The sector's profitability is on an average of 3,79%.
The labour cost affects the turnover in the measure of 14,54%.
Goods are held in stock in a range of 46 dd.
The difference between the sales volume and the resources used to
realize it is about 1,24.
The employees costs represent the 14,92% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 50.886 protested subjects are found; in the province they
count to 24.765.
The insolvency index for the region is 0,55, while for the province it
is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
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 |
|
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%)