MIRA
INFORM REPORT
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Report Date : |
01.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
PROJECT ENGINEERING SERVICES |
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Registered Office : |
FA - 357, Mansarover Garden, New Delhi – 110 015 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1979 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer of machinery for Dairy, Confectionery, Food Processing,
Breweries, Soft Drink, Edible Oil, Perfumery, Livestock and Pharmaceuticals. |
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 48000 |
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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 having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
FA- 357, Mansarover Garden, New Delhi – 110 015, India |
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Tel. No.: |
91-11-25417510 / 25466316 / 65455446 |
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Mobile No.: |
91-9810008910 |
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Fax No.: |
91-11-25419768 |
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E-Mail : |
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Website : |
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Area : |
500 sq.mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Naresh Sharma |
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Designation : |
Proprietor |
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Address : |
A E -43, Tagore Garden, New Delhi |
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Date of Birth/Age : |
48 years |
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Qualification : |
B. Tec |
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Experience : |
23 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of machinery for Dairy, Confectionery, Food Processing,
Breweries, Soft Drink, Edible Oil, Perfumery, Livestock and Pharmaceuticals. |
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Products : |
·
Stainless Steel Equipments & Machinery for Food
Processing & Dairy Industry ·
Homogenizer ·
Plate Heat Exchanger ·
Conveyor ·
Stainless Steel Platform
·
Stainless Steel Cable Tray ·
Stainless Steel Coating Pan ·
Stainless Steel Trolley
·
Stainless Steel Sanitary/Hygiene Fittings ·
Storage Tanks ·
Chocolate Machineries ·
Rood Milk Tanker ·
Bulk Cooler ·
Meat Processing Equipments & Machinery ·
Packaging Machineries |
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Brand Names : |
PES |
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Exports : |
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Products : |
Stainless Steel Equipments & Machinery for Food
Processing & Dairy Industry, Homogenizer, Plate Heat Exchanger, Conveyor, Stainless
Steel Platform, Stainless Steel Cable
Tray ,Stainless Steel Coating Pan, Stainless Steel Trolley , Stainless Steel Sanitary/Hygiene Fittings,
Storage Tanks, Chocolate Machineries, Rood Milk Tanker,
Bulk Cooler, Meat Processing
Equipments & Machinery, Packaging Machineries |
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Countries : |
South and South East Asia |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 30%
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing (purchase of raw material from open market) |
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Customers : |
· Nestle India limited · Cadbury India Limited · Coca Cola India · Pepsi India Limited · Ranbaxy Laboratories Limited · Dabur India Limited · Unichem Laboratories Limited · Cadila Healthcare · Reliance Healthcare · Orchid Pharma · Kohinoor Foods |
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No. of Employees : |
180 |
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Bankers : |
· DBS Bank Limited Address: Connaught Place, New Delhi – 110
001 · State Bank of India Address: Rajouri Garden, New Delhi -110
027 |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
E N Project and Engineering Industries Private Limited Address: 41 Sector 18 HSIDC, Maruti Industrial Estate, Gurgaon – 122
001, Haryana, India CIN : U74899DL1989PTC036092 Registered on : 02.05.1989 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 12.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 12.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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160.000 |
145.000 |
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Profit/Loss for the year |
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11% |
11% |
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Export Value |
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30% |
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Expected Sales (2007-08) : Rs. 175.000 millions.
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
The concern and its associate companies, popularly known as
"PES", are the fastest growing Project Engineering Concern catering
since 1979. They are engaged in design, manufacture, erection and implementation
of dairy, confectionery, food processing, breweries, soft drink, edible oil,
perfumery, livestock, pharmaceutical plants in India and abroad. The concern is
professionally managed by a group of qualified engineers and technocrats with
vast experience in the same field.
The concern is also a leading exporter of various dairy and food
processing equipments. Their marketing span covers neighboring countries like
Nepal, Bangladesh, Sri Lanka and various South East Asian nations. The concern
with its superior quality, world class standards and an unending commitment to
total customer satisfaction has established a name as India's leading designer,
manufacturer and erector of Food Processing Industries.
Product Range
The concern offers a wide range of equipments and machinery for
application in a wide range of sectors. These include:
· Stainless Steel Equipments and Machinery for Food Processing and Dairy Industry
· Homogenizer
· Plate Heat Exchanger
· Conveyor
· Stainless Steel Platform
· Stainless Steel Cable Tray
· Stainless Steel Coating Pan
· Stainless Steel Trolley
· Stainless Steel Sanitary/Hygiene Fittings
· Storage Tanks
· Chocolate Machineries
· Rood Milk Tanker
· Bulk Cooler
· Meat Processing Equipments and Machinery
· Packaging Machineries.
Some of their Valued Customers:
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Nestle India Limited |
Cadbury India Limited |
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Coca–Cola India |
Pepsi India Limited |
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Ranbaxy Laboratories Limited |
Dabur India Limited |
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Unichem Laboratories Limited |
Cadila Healthcare |
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Reliance Healthcare |
Orchid Pharma. |
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Perfetti Van Melle Bangladesh Limited |
Perfetti Van Melle Vietnam Limited |
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Perfetti Van Melle India Limited |
AVL–Tech Center for Asia |
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Assam Livestock and Poultry Corp. Limited |
Rajasthan Breweries |
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Directorate of Animal Husbandry and Vet.
Deptt., Meghalaya |
Directorate of Animal Husbandry and Vet.
Deptt., Assam |
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Ruchee Breweries |
Singha Breweries |
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Dabur Real Juice |
Himalayan Dairy |
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Subhash Dairy |
Kool Breweries |
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Manav Breweries |
Punjab Breweries |
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Markfed |
Lumbini Breweries |
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Maruti Udyog Limited |
Walls Ice Cream |
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Himalayan Vegfruit Limited |
Frigorifico Allana Limited |
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Osram India Limited |
Baxter India Limited |
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Sandoz Pharma Limited |
Alkem Laboratories |
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Baddar Schlizer |
Aventis Pharma |
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Pharma Lab |
Kohinoor India Limited |
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Tetra Pak (I) Limited |
Devyani Beverages Limited |
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R C Cola |
Falcon Export Limited |
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Amul Dairy |
Dumex (I) Limited |
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Indichem Laboratories |
The American Embassy |
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Orchid Pharma |
Kohinoor Foods |
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Pharma Lab. |
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Achievements
· Hind Gaurav Award
· Grand Gold Prix Award – USA
· International Diamond Star for Quality – USA
· Bureau Veritas Quality International – Switzerland
Approved by U.S. Commercial Services
The concern is duly approved by Embassy of the United States of America,
U.S. Commercial Service, New Delhi and Ministry of Food Processing Industries,
Government India.
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.39.92 |
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UK Pound |
1 |
Rs.79.31 |
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Euro |
1 |
Rs.60.63 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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54 |
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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