MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
JOHN PALMER BRUSHES LIMITED |
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Registered Office : |
Unit 3 Oakley Ind Est, Norwich Rd Besthorpe, Attleborough,
NR17 |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
20.10.1995 |
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Com. Reg. No.: |
03116762 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Brush Manufacturers |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
GBP 24,100 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
JOHN PALMER BRUSHES LIMITED |
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Holding Company |
D. O'SULLIVAN & CO. (CORK) LTD |
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Ultimate Holding Company |
D. O'SULLIVAN & CO. (CORK) |
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Trading Address |
NORWICH RD,BESTHORPE,ATTLEBOROUGH,NR17 2LB |
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Telephone |
01953-455003 |
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There is a high degree of confidence this company will
prove good for the assigned Credit Limit |
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Credit Limit |
GBP 24,100 |
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Selling to this company? The Credit Limit is the
recommended maximum outstanding debtor exposure at any one time. |
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Contract Limit |
GBP 117,100 |
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Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
03116762 |
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Date of Incorporation |
20/10/1995 |
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Registered Office |
Unit 3 Oakley Ind Est, Norwich Rd Besthorpe, Attleborough,
NR17 |
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Date of Last Annual Return to
Registry |
20/10/2007 |
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Activities |
Brush manufacturers |
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Accounts |
The last filed accounts cover the period to 31/12/2006 and
were filed on 29/10/2007 |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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20/10/2007 |
Annual Return |
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31/12/2006 |
Financial Statement / Set of Accounts |
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It should be noted that there is no legal requirement to
file satisfaction details of mortgages/charges at Companies House. |
Known Directors
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DIRECTOR |
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Occupation |
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Address |
TIGEEN , DOUGLAS ROAD CORK , IRELAND
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Country of Origin |
IRISH |
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Date of Birth |
09/09/1958 |
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Appointment Date |
02/11/1995 |
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Other Appointments |
JOHN PALMER BRUSHES LIMITED, NORFOLK BRUSH COMPANY
(ATTLEBOROUGH) LIMITED, SPEED 5112 LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
WINDWARD , LANDSBOROUGH DOUGLAS , CORK
, IRELAND , |
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Country of Origin |
IRISH |
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Date of Birth |
27/05/1954 |
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Appointment Date |
02/11/1995 |
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Other Appointments |
JOHN PALMER BRUSHES LIMITED, NORFOLK BRUSH COMPANY
(ATTLEBOROUGH) LIMITED, SPEED 5112 LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
2, GREENDALE ROAD MARYBOROUGH WOODS MARYBOROUGH HILL
, CORK , |
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Country of Origin |
IRISH |
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Date of Birth |
27/04/1950 |
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Appointment Date |
06/04/2001 |
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Other Appointments |
JOHN PALMER BRUSHES LIMITED, NORFOLK BRUSH COMPANY
(ATTLEBOROUGH) LIMITED |
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SECRETARY |
MR MICHAEL O'SULLIVAN |
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Address |
2 GREENDALE ROAD,, MARYBOROUGH WOODS,
, MARYBOROUGH HILL, DOUGLAS , CORK |
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Country of Origin |
IRISH |
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Date of Birth |
27/04/1950 |
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Appointment Date |
24/03/2003 |
Recently Resigned Directors (last
3)
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DIRECTOR |
MRS JILLIAN CROSS |
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Address |
WOODHOUSE , CARRIGALINE , CO CORK
, - - |
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Country of Origin |
IRISH |
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Date of Birth |
03/10/1953 |
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Resignation Date |
29/11/2002 |
Share Summary
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Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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D. O'SULLIVAN & CO. (CORK) LTD |
ORD |
2 |
2.00 |
100.00 |
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Mortgages and Charges
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Total Registered |
1 |
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Total Outstanding |
1 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
29/05/1996 |
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Date Registered |
05/06/1996 |
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Type |
395 |
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Date Created |
29/05/1996 |
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Lender |
BARCLAYS BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
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Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY |
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Satisfied? |
No |
Public Record Information
Summary
of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Brush manufacturers |
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Sic Code |
Description |
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3663 |
Other manufacturing not elsewhere classified |
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2052 |
Manufacture of articles of cork, straw and plaiting
materials |
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Staff Employed |
16 |
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Auditors |
Ernst & Young |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
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Bankers |
Barclays Bank PLC |
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Sort Codes |
206934 |
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Bankers |
Barclays Bank PLC |
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Sort Codes |
206940 |
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Bankers |
Barclays Bank PLC |
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Sort Codes |
209921 |
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Bankers |
Barclays Bank PLC |
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Sort Codes |
206253 |
Financial Data
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The following figures are shown in units of units |
Profit and Loss
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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RETAINED PROFITS |
- |
- |
- |
- |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
23,921 |
35,879 |
30,815 |
53,868 |
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Total Fixed Assets |
23,921 |
35,879 |
- |
- |
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TOTAL CURRENT ASSETS |
567,484 |
520,142 |
628,293 |
683,704 |
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Stocks |
255,016 |
226,185 |
267,853 |
270,395 |
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Trade Debtors |
274,955 |
214,437 |
225,530 |
227,119 |
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Cash |
37,513 |
79,520 |
75,403 |
143,661 |
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TOTAL ASSETS |
591,405 |
556,021 |
659,108 |
737,572 |
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TOTAL CURRENT LIABILITIES |
304,990 |
221,752 |
350,210 |
393,847 |
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Other Current Liabilities |
304,990 |
221,752 |
107,226 |
140,315 |
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WORKING CAPITAL |
262,494 |
298,390 |
278,083 |
289,857 |
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TOTAL LONG TERM LIABS |
135,827 |
135,827 |
135,827 |
195,827 |
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Other Long Term Liabilities |
135,827 |
135,827 |
- |
- |
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NET ASSETS/(LIABILITIES) |
286,415 |
334,269 |
308,898 |
343,725 |
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SHARE CAPITAL + RESERVES |
150,588 |
198,442 |
173,071 |
147,898 |
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Issued Share Capital |
2 |
2 |
2 |
2 |
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Profit and Loss account |
150,586 |
198,440 |
173,069 |
147,896 |
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SHAREHOLDERS FUNDS |
150,588 |
198,442 |
173,071 |
147,898 |
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CAPITAL EMPLOYED |
286,415 |
334,269 |
308,898 |
343,725 |
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TANGIBLE NET WORTH |
150,588 |
198,442 |
173,071 |
147,898 |
Key Credit Ratios
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Current Ratio |
1.86 |
2.35 |
1.79 |
1.74 |
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Quick Ratio |
1.02 |
1.33 |
1.03 |
1.05 |
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T.N.W/Total Assets |
0.25 |
0.36 |
0.26 |
0.20 |
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Equity Gearing |
0.01 |
0.01 |
0.01 |
0.01 |
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Solvency (%) |
292.73 |
180.19 |
280.83 |
398.70 |
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Financial Summary
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Working Capital |
The company's working capital decreased in the period by
12% |
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Tangible Net Worth |
Net worth reduced by 47,854,units during the period and
now stands at GBP 150,588,units |
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Fixed Assets |
The subjects fixed assets reduced during the period by GBP
11,958,units to GBP 23,921,units and are now 4% of total assets
compared with 6% in the previous period |
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Long Term Liabilities |
The company's long term liabilities increased during the
period by 0% and are now 90% of net worth compared with 68% in the previous
period |
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Long Term Liabilities |
Long term liabilities are now 23% of total assets compared
with 24% in the previous period |
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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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%)