MIRA
INFORM REPORT
|
Report Date : |
06.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PUNJAB STATE ELECTRICITY BOARD |
|
|
|
|
Registered Office : |
The Mall Patiala, Patiala - 147001, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
01.02.1959 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PTLP10079G |
|
|
|
|
Legal Form : |
Government Owned Company |
|
|
|
|
Line of Business : |
Power Generation and Distribution |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 86000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a power generation and distributing company owned by the
Punjab State Government. Lenders and creditors can feel about its exposure to
the company. It’s Profitability is under severe pressure. Payments are
reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
The Mall Patiala, Patiala - 147001, Punjab |
|
Tel. No.: |
91-175-2215370 |
|
Website : |
DIRECTORS
|
Name : |
Mr. Y. S. Ratra, IAS |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Anurag Agarwal, IAS |
|
Designation : |
Member/Finance & Accounts |
|
|
|
|
Name : |
Er. J. S. Sekhon |
|
Designation : |
Member/Distribution |
|
|
|
|
Name : |
Er. Gurtej Singh Sra |
|
Designation : |
Member/Generation |
|
|
|
|
Name : |
Er. Subhash Chander Sabharwal |
|
Designation : |
Member/Transmission |
|
|
|
|
Name : |
Mr. Kumar Rahul, IAS |
|
Designation : |
Secretary |
BUSINESS DETAILS
|
Line of Business : |
Power Generation and Distribution |
GENERAL
INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
Not Available |
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2806110000 |
Equity Shares |
Rs. 10/-
each |
Rs.
28061.100 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2003 |
31.03.2002 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
28061.100 |
28061.100 |
28061.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
22701.000 |
23662.600 |
|
|
4] (Accumulated Losses) |
[6665.600] |
0.000 |
0.000 |
|
|
NETWORTH |
21395.500 |
50762.100 |
51723.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
99273.600 |
94002.700 |
92671.000 |
|
|
TOTAL BORROWING |
99273.600 |
94002.700 |
92671.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
120669.100 |
144764.800 |
144394.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
112512.800 |
109205.600 |
111419.700 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2943.200 |
1127.800 |
1127.800 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3942.800
|
2777.300 |
3241.300 |
|
|
Sundry Debtors |
11721.700
|
10732.300 |
9056.700 |
|
|
Cash & Bank Balances |
3045.200
|
6654.800 |
4338.500 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
11085.000
|
65552.100 |
64587.500 |
|
Total
Current Assets |
29794.700
|
85716.500 |
81224.000 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
24668.700
|
50419.200 |
48717.100 |
|
|
Provisions |
0.000
|
968.400 |
757.900 |
|
Total
Current Liabilities |
24668.700
|
51387.600 |
49475.000 |
|
|
Net Current Assets |
5126.000
|
34328.900 |
31749.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
87.100 |
102.500 |
98.200 |
|
|
|
|
|
|
|
|
TOTAL |
120669.100 |
144764.800 |
144394.700 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2003 |
31.03.2002 |
|
|
Sales Turnover |
61379.000
|
56274.400
|
48217.200
|
|
|
Other Income |
11180.200
|
10399.400
|
20996.500
|
|
|
Total Income |
72559.200 |
66673.800 |
69213.700 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
[38335.800]
|
[4359.800]
|
[60.000]
|
|
|
Provision for Taxation |
0.000
|
0.000
|
0.000
|
|
|
Profit/(Loss) After Tax |
[38335.800]
|
[4359.800]
|
[60.000]
|
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Materials |
42922.400
|
33617.400
|
32767.000
|
|
|
Power & Fuel Cost |
1420.200
|
1300.800
|
939.400
|
|
|
Other Manufacturing Expenses |
2273.700
|
2082.500
|
2143.300
|
|
|
Employee Cost |
16392.000
|
13527.500
|
13185.500
|
|
|
Selling and Administration
Expenses |
62.900
|
2258.700
|
1741.000
|
|
|
Miscellaneous Expenses |
33327.300
|
1150.400
|
1323.100
|
|
|
Interest & Financial Charges
|
9928.600
|
12366.600
|
12402.900
|
|
|
Depreciation |
5756.200
|
5641.900
|
5820.500
|
|
Total Expenditure |
112083.300 |
71945.800 |
70322.700 |
|
KEY RATIOS
|
PARTICULARS |
31.03.2005 |
31.03.2003 |
31.03.2002 |
|
Debt-Equity Ratio |
4.64 |
1.82 |
1.79 |
|
Long Term Debt-Equity Ratio |
4.64 |
1.82 |
1.79 |
|
Current Ratio |
1.21 |
1.66 |
1.64 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
0.37 |
0.37 |
0.32 |
|
Inventory |
15.57 |
18.70 |
14.88 |
|
Debtors |
5.24 |
5.69 |
5.32 |
|
Interest Cover Ratio |
[2.86] |
0.65 |
1.00 |
|
Operating Profit Margin(%) |
[36.90] |
24.25 |
37.67 |
|
Profit Before Interest And Tax Margin(%) |
[46.28] |
14.23 |
25.60 |
|
Cash Profit Margin(%) |
[53.08] |
2.28 |
11.95 |
|
Adjusted Net Profit Margin(%) |
[62.46] |
[7.75] |
[0.12] |
|
Return On Capital Employed(%) |
[23.56] |
5.54 |
8.55 |
|
Return On Net Worth(%) |
[179.18] |
[8.51] |
[0.12] |
LOCAL AGENCY
FURTHER INFORMATION
Profile
The Punjab State Electricity Board (PSEB) is a statutory body formed on 1-2-1959 under the Electricity Supply Act.1948. Subsequently with the re-organization of the erstwhile State of Punjab under the Punjab Re-organization Act 1966 the present form came into existence w.e.f. 1st May,1967.
Starting with the modest installed capacity of 62 MW, the PSEB has grown up by leaps and bounds with generating capacity 6201 MW as on 31-3-2007. The Board's gross generation during the year 2006-07 was 36412.055 MUs.
PSEB operates its own Generation Power Plants and also gets power as its share from BBMB. It also gets power as per allocation from the Central Sector Power Projects. The PSEB also constructs and maintains its Transmission and Distribution system for providing efficient services to the various categories of electricity consumers in the state.
Though the welnit network of Transmission and Distribution System, PSEB is proud of serving more than 6.231 Millions consumers comprising of approximate 5.149 Millions General, 0.109 Million Industrial, 0.97 Million Agricultural connections.
Milestone
Achievement by PSEB
- All the power Stations operated at their best
ever plant load factor since their installation.
- Total Power generated is 3498.400 Millions
units which is more than previous year by 163.600 Millions units resulting
of 4.9% increased.
- The prestigious Ranjit Sagar Dam Project
(4x150 MW) commissioned and dedicated to the Nation.
- Power purchase agreement signed with M/S GVK
for installing 2x250 MW thermal power station at Goindwal initialized 6th
Feb., 2007 and submitted to PSERC for approval.
- Second stage of Lehra Mohabbat Thermal Power
Station for 2x250 MW under construction. Unit-III likely to be
commissioned by 30-9-2007 and Unit-IV by 31-12-2007.
- Under various categories,970139 new tubewell
connections energized.
- 24 Hrs. Urban pattern supply made available to
12428 villages and 695 Deras/Dhanies.
- To help the scheduled castes/tribes consumers,
free monthly consumption limit A,200 units raised for connected load from
500 Watts to 1000 Watts w.e.f. 12-10-06.
- Strict measures undertaken to reduce power
theft. Disciplinary action taken against the erring employees.
- New technologies like electronic meters,
remote control of transformers, remote meter reading and introduced.
- All these efforts resulted in and increase of
3% in revenue (approximately Rs.6.15) asserting healthy for the further.
Tender Notices
Tender Specification No. : Q- 3840
Brief Description :
11/0.433 KV 6.3,10 & 16 KVA,
3 phase 50 cycles out door, oil immersed, naturally cooled wound construction
(Copper wound) distribution transformers complete with fittings &
accessories conforming to ISS 1180&2026 with latest amendments and REC
specification inclusive of ISS 335/1993(for T/F oil) with latest amendment&
PSEB specification.
Quantity:- 6.3 KVA - 5000 nos.
10 KVA - 5000 nos.
16 KVA ? 5000 nos.
Last Date of Application Sale : 30-Apr-2008
Bid Submission Date: 06-May-2008
Bid Opening Date : 06-May-2008
Tender Specification No. : Q- 3839,
Brief Description :
11/0.433 KV 6.3,10 & 16 KVA,
3 phase 50 cycles out door, oil immersed, naturally cooled wound construction
(Copper wound) distribution transformers complete with fittings &
accessories conforming to ISS 1180&2026 with latest amendments and REC
specification inclusive of ISS 335/1993(for T/F oil) with latest amendment&
PSEB specification.
Quantity:- 6.3 KVA - 5000 nos.
10 KVA - 5000 nos.
16 KVA ? 5000 nos.
Last Date of Application Sale : 30-Apr-2008
Bid Submission Date: 06-May-2008
Bid Opening Date : 06-May-2008
Tender Specification No. : Q- 3838
Brief Description :
11/0.433 KV 6.3,10 & 16 KVA,
3 phase 50 cycles out door, oil immersed, naturally cooled wound construction
(Copper wound) distribution transformers complete with fittings &
accessories conforming to ISS 1180&2026 with latest amendments and REC
specification inclusive of ISS 335/1993(for T/F oil) with latest amendment&
PSEB specification.
Quantity:- 6.3 KVA - 5000 nos.
10 KVA - 5000 nos.
16 KVA ? 5000 nos.
Last Date of Application Sale : 30-Apr-2008
Bid Submission Date: 06-May-2008
Bid Opening Date : 06-May-2008
Tender Specification No. : 108/2007-08
Brief Description :
1782 Nos. 11 KV CTs of Ratio 400-200/5-5A suitable for
various make of 11 KV panels.
Tender Issue Date : 10-Mar-2008
Last Date of Application Sale : 03-Apr-2008
Bid Submission Date: 07-Apr-2008
Bid Opening Date : 07-Apr-2008
Tender Specification No. :
15/CC-I/2007-08
Brief Description :
Running of Mess Sevice, Sweeping,
Cleaning, watch & ward of Field Hostel & Subordinate Guest House at
GHTP, Lehra Mohabbat
Tender Issue Date : 07-Apr-2008
Last Date of Application Sale : 10-Apr-2008
Bid Submission Date: 11-Apr-2008
Bid Opening Date : 11-Apr-2008
INSTALLED CAPACITY &
GENERATION (POSITION ENDING 31.03.2007)
|
S.No. |
Name of Project |
Detail of Power machines with installed capacity (MWs) |
Share of Punjab(MWs) |
Generation during 2005-06 (MUs) |
Generation during Upto 31-03-07 |
|
I |
OWN
PROJECTS |
|
|
|
|
|
a) |
HYDRO
ELECTRIC PROJECTS |
|
|
|
|
|
1 |
Shanan
PHs |
4X 15+1X50=110.00 |
110 |
508.946 |
495.666 |
|
2 |
UBDC |
3X15+3X15.45 =91.35 |
91.35 |
530.642 |
384.607 |
|
3 |
Anandpur
Sahib |
4X33.5=134.00 |
134 |
707.807 |
666.089 |
|
4 |
Mukerian |
6X15+6X19.5=207.00 |
207 |
1238.251 |
1170.736 |
|
5 |
RSDHEP |
4X150=600.00 |
452.4 |
2013.199 |
1679.476 |
|
6 |
Nadampur
Micro |
2X0.4=0.80 |
0.8 |
5.956 |
7.959 |
|
7 |
Daudhar
Micro |
3X0.5=1.50 |
1.5 |
||
|
8 |
Rohti
Micro |
2X0.4=0.80 |
0.8 |
||
|
9 |
Thuhi
Micro |
2X0.4=0.80 |
0.8 |
||
|
|
Total |
|
998.650 |
5004.801 |
4404.533 |
|
THERMAL PROJECTS |
No.& Caapacity of units(MW) |
Total Capacity)(MW) |
Genration during 2005-06 |
GENERATION Upto 31-3-07 |
|
GNDTP,
BATHINDA |
4X110 =440.00 |
440 |
2359.165 |
2221.127 |
|
GGSSTP,
ROPAR |
6X210 =1260.00 |
1260 |
9329.310 |
9770.340 |
|
RSTP,
Jalkheri |
1x10=10.00 |
Added in item4 below |
Added in item4 below |
Added in item4 below |
|
GHTP,Lehra
Mohabat |
2x210=420.00 |
420 |
3145.925 |
3443.172 |
|
Total |
|
2120 |
14384.408 |
15434.639 |
|
Total
(a) +(b) |
|
3119 |
19839.201 |
19839.172 |
|
Share
From BBMB Pojects |
|
1257 |
4662.891 |
3978.260 |
|
Share
from Central Sector Projects |
|
1764 |
10117.112 |
12361.601 |
|
PEDA
& Captive Power Plants |
|
61 |
168.081 |
233.022 |
|
G.Total
(I+II+III+IV) |
|
6201 |
34787.285 |
36412.055 |
PUNJAB STATE ELECTRICITY BOARD
PUBLIC RELATIONS DEPARTMENT
(PRESS NOTE)
Patiala 22
Feburary, 2008
Sh.Y.S.Ratra, IAS (Retd), Chairman, PSEB informed
that with a view to provide relief to all categories of consumers Punjab State
Electricity Board has extended the validity of One Time Settlement (OTS) Offer
up to 30-9-2008. He further informed that the decision of Board will help
revival of sick industry as well. With this extension the consumers whose
connections stand disconnected temporarily / permanently up to 30-09-2006 can
opt for reconnection up to September 30, 2008.
Contact Numbers
For Website Related Suggestions / Enquiry
|
Name |
Designation |
Mobile |
|
Er. Jasvir Singh |
Dy.Secy/CSW |
91-9872519127 |
|
Er. Pankaj Sahni |
AD/HR |
91-9872519089 |
For Important Contact Numbers
|
S.No |
Designation |
Number |
Mobile |
|
1 |
Chairman |
91-175-2212005 |
|
|
2 |
Member/Administrative |
91-175-2212001 |
|
|
3 |
Member/ Transmission |
91-175-2212032 |
|
|
4 |
Member/ Finance & Accounts |
91-175-2212053 |
|
|
5 |
Member/Generation |
91-175-2215764 |
|
|
6 |
Member/Distribution |
91-175-2212069 |
|
|
7 |
Secretary |
91-175-2213162 |
|
|
8 |
Director/Personnel |
91-175-2213042 |
91-9872520000 |
|
9 |
Director/Technical |
91-175-2222183 |
91-9872518733 |
|
10 |
Director/Enquiry |
91-175-2220649 |
91-9872518734 |
|
11 |
Legal Advisor |
91-175-2214710 |
91-9872518736 |
|
12 |
Director/IT |
91-175-2207649 |
91-9872518735 |
|
13 |
Advisor Finance |
91-175-2213048 |
91-9872518704 |
|
14 |
Chief/Industrial
Relations & Welfare |
91-175-2213118 |
91-9872518874 |
|
15 |
Chief Cost Control &
Reduction |
91-175-2213045 |
91-9872518705 |
|
16 |
Chief Account Officer |
91-175-2213046 |
91-9872518706 |
|
17 |
Chief Auditor |
91-175-2213119 |
91-9872518707 |
|
18 |
Forum
for Redressal of Grievances of Consumer |
91-175-2215908 |
91-9872518718 |
|
19 |
CE/Planning |
91-175-2213032 |
91-9872518717 |
|
20 |
CE/Commercial |
91-175-2214495 |
91-9872518710 |
|
21 |
CE/Material Management |
91-175-2213047 |
91-9872518719 |
|
22 |
CE/Technical Audit &
Inspection |
91-175-2214145 |
91-9872518712 |
|
23 |
CE/EA & Enforcement |
91-175-2215774 |
91-9872518102 |
|
24 |
CE/Thermal Design |
91-175-2213038 |
91-9872518722 |
|
25 |
CE/Hydel Project |
91-175-2215415 |
91-9872518713 |
|
26 |
CE/Substation |
91-175-2213193 |
91-9872517902 |
|
27 |
CE/Store & Disposal |
91-175-2213237 |
91-9872518714 |
|
28 |
CE/Metering |
91-175-2218871 |
91-9872518720 |
|
29 |
CE/HRD |
91-175-2213125 |
91-9872518716 |
|
30 |
CE/System Operation &
Control |
91-175-2366007 |
91-9872518001 |
|
31 |
CE/South |
91-175-2215160 |
91-9872510001 |
|
32 |
CE/Central, Ludhiana |
91-161-2455001 |
91-9872511502 |
|
33 |
CE/North, Jallandar |
91-181-2225182 |
91-9872516002 |
|
34 |
CE/Border, Amritsar |
91-183-2222065 |
91-9872513002 |
|
35 |
CE/West, Bathinda |
91-164-2270011 |
91-9872514502 |
|
36 |
CE/P&M, Ludhiana |
91-161-2747661 |
91-9872518202 |
|
37 |
CE/Workshop |
91-161-2456311 |
91-9872518721 |
|
38 |
CE/GGSSTP, Roop Nagar |
91-1881-274238 |
91-9872517702 |
|
39 |
CE/GNDTP, Bathinda |
91-164-2271363 |
91-9872517502 |
|
40 |
CE/GHTP, Lehra Mohabbat |
91-164-2756208 |
91-9872517602 |
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.40.29 |
|
UK Pound |
1 |
Rs.79.97 |
|
Euro |
1 |
Rs.61.23 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|