MIRA
INFORM REPORT
|
Report Date : |
27.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
LAYAPIEL SA |
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Registered Office : |
CALLE BARCELONES, 36 08140 CALDES DE MONTBUI |
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Country : |
Spain |
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Financials (as on) : |
31/12/2006 |
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Date of Incorporation : |
29/03/1979 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Leather industry |
RATING &
COMMENTS
|
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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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Identification and
Characteristics
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TAX NUMBER |
A08560500 |
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NAME |
LAYAPIEL SA |
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BUSINESS
ADDRESS |
CALLE BARCELONES, 36 (NAV 2 PG
BORDA) |
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Postcode |
08140 CALDES DE MONTBUI
(Barcelona) |
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URL |
http://www.layapiel.es |
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TELEPHONE |
938626018 |
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FAX |
938626914 |
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LEGAL FORM |
JOINT STOCK COMPANY |
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DATE FOUNDED |
29/03/1979 |
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CAPITAL |
96.160,00 Euros |
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PAID-UP CAPITAL |
96.160,00 Euros |
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NUMBER OF
EMPLOYEES |
4 |
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ACTIVITY |
1456000 - Leather industry |
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CNAE |
1830 - Dressing and dyeing of
fur; manufacture of articles of fur |
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EXPORT COMPANY |
YES |
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IMPORT COMPANY |
YES |
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* Characteristics of the main address |
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According to our investigations these
premises are rented used as office, warehouse
located in a secondary commercial area . |
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Synthesis
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FINANCIAL SITUATION (Year
ending: 31/12/2006) |
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PROFITABILITY |
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Nil |
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TREASURY |
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Excellent |
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BALANCE SHEET |
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Excellent |
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DEBT |
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Medium |
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INCIDENTS |
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COMMITMENTS |
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Respected |
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INCIDENTS |
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None or
Negligible |
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PREVIOUS EXPERIENCE |
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PREVIOUS EXPERIENCE |
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Favourable |
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Credit Appraisal
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CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros): |
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FAVOURABLE TOWARDS 51.182,19
Max. |
Financial Elements
Figures given in
Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
Balance
sheet 2.006 (12) |
%
Sales |
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|
SALES |
1.675.117,94 |
2.085.049,60 |
1.190.791,88 |
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|
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ADDED VALUE |
82.618,18 |
142.140,34 |
78.255,02 |
6,57 |
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BUSINESS RESULT |
26.198,07 |
32.645,74 |
4.494,81 |
0,38 |
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OWN FUNDS |
395.438,69 |
366.972,16 |
371.466,97 |
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DEBT |
709.507,26 |
780.187,54 |
705.051,96 |
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TOTAL ASSET |
1.104.945,95 |
1.147.159,70 |
1.076.518,93 |
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The sales of 1.190.791,88
Euros show a change of -42,89% compared with
2.005 . Between 2.004 and 2.005 , this
change was 24,47% . |
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Added value grew by -44,95%
compared with the previous year. Shareholders equity are 371.466,97
Euros for an indebtedness of 705.051,96 Euros . |
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The result 4.494,81
Euros means financial profitability of 1,21% and
economic profitability of 0,42% . This result means growth of
-86,23% compared with the 2.005 . |
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THE FIGURES FOR THE LAST BALANCE SHEET ARE
RELEVANT: |
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SOURCE: FROM THE MERCANTILE REGISTER |
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DATE: 29/10/2007 |
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Results Distribution |
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Annual Report Year Source: 2.004 |
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Figures given in Euros |
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Distribution Base |
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Profit and Loss |
26.198 |
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Total of Amounts to be
distributed |
26.198 |
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Distribution a |
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Voluntary Reserve |
26.198 |
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Comparative Sector Analysis
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Company |
Sector |
Difference |
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(2.006)
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% of PRODUCTION VALUE |
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SALES |
100,00 |
99,83 |
0,17 |
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ADDED
VALUE |
6,57 |
33,08 |
-26,51 |
|
BUSINESS
RESULT |
0,38 |
2,73 |
-2,35 |
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% OF TOTAL ASSETS |
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|
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OWN
FUNDS |
34,51 |
43,50 |
-8,99 |
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DEBT |
65,49 |
56,50 |
8,99 |
Compared sector (CNAE): 183 - Dressing and
dyeing of fur; manufacture of articles of fur
Number of companies: 31
Size (Sales Figure): 0 - 2.800.000,00
Euros
The turnover of the company is 0,17%
above the mean for the sector.
The company’s added value was 6,57% s/
the production value, and 26,51% below the mean for the sector.
The company’s business result was
0,38% of the PV, 2,35% below the mean for the sector.
The company’s own resources are 34,51%
, 8,99% below the mean for the sector.
The company’s outside resources are
65,49% , 8,99% above the mean for the sector.
Legal Actions
|
No legal incidences registered for this
company in the official source |
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No claims registered for this company in
the official sources |
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AFFECTED BY: No significant elemento |
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
SOLE ADMINISTRATOR |
PUIG ZACARES JORGE |
03/11/2003 |
Functional Managers
|
Position |
Surname and name |
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MANAGER |
PUIG JORGE |
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FINANCIAL MANAGER |
PUIG ZACARES JORGE |
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COMMERCIAL MANAGER |
PUIG ZACARES JORGE |
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EXPORTS MANAGER |
PUIG ZACARES JORGE |
Financial Links
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Shareholders |
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Company Name |
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Source |
Information Date |
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JORGE PUIG ZACARES |
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Major. |
OWN SOURCES |
26/03/2008 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Registration of accounts
(2006) |
03/12/2007 |
104844 |
Barcelona |
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Registration of accounts
(2005) |
05/01/2007 |
019827 |
Barcelona |
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Registration of accounts
(2004) |
04/10/2005 |
652899 |
Barcelona |
|
Registration of accounts
(2003) |
22/12/2004 |
955220 |
Barcelona |
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Resignations |
03/11/2003 |
412320 |
Barcelona |
Press articles
|
16/10/1996 |
VANGUARDIA |
INFORMATION ON LEGAL ANNOUNCE |
|
EL ORGANO DE ADMINISTRACION ACORDO
TRASLADAR EL DOMICILIO SOCIAL DE ESTA EM PRESA A LA C/ BARCELONES, 36-A, NAVE
2, POLG. IND. LA BORDA, 08140 CALDES DE MONTBUI. |
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Remarks for customer
Linked by its board members to ELS PUIG
PATRIMONIAL, SA (A58919010);GEROME SL (B08215246);HERRERO PUIG BAEZA
PATRIMONIAL SL (B63979868)
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Commercial Experience |
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General Information |
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Foundation Year 1979 |
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Founder LA TITULAR ES LA
FUNDADORA INICIAL DEL |
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PURCHASES |
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Imports:: |
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PAKISTAN;INDIA |
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SALES |
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Exports:: |
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PAKISTAN;INDIA |
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Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
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CAIXA D’ESTALVIS LAIETANA |
0106 |
RBLA. DEL POBLE
NOU, 116-118 |
BARCELONA |
Barcelona |
The information on the last account
contained in this report is extracted from the Mercantile Register file of the
legal address of the Company and dated 29/10/2007
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/12/2004 (12)
|
31/12/2005 (12)
|
31/12/2006 (12)
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A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
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|
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B) FIXED ASSETS |
93.542,38 |
49.434,36 |
24.180,44 |
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I. Establishment expenses |
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II. Intangible assets |
32.251,59 |
24.247,82 |
16.244,05 |
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III. Tangible assets |
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IV. Financial assets |
61.290,79 |
25.186,54 |
7.936,39 |
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V. Owners equity |
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VI. Long term trade liabilities |
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C) DEFERRED EXPENSES |
1.381,42 |
753,19 |
497,80 |
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D) CURRENT ASSETS |
1.010.022,15 |
1.096.972,15 |
1.051.840,69 |
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I. Not paid in shareholder capital |
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II. Inventory |
203.379,05 |
266.417,63 |
394.205,66 |
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III. Debtors |
604.897,74 |
630.514,26 |
519.156,37 |
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IV. Short term financial assets |
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V. Short term owners equity |
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VI. Cash |
201.745,36 |
200.040,26 |
138.478,66 |
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VII. Prepaid expenses and accrued income |
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ASSETS (A + B + C + D) |
1.104.945,95 |
1.147.159,70 |
1.076.518,93 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2004 (12)
|
31/12/2005 (12)
|
31/12/2006 (12)
|
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A) SHAREHOLDERS EQUITY |
395.438,69 |
366.972,16 |
371.466,97 |
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I. Capital |
96.160,00 |
96.160,00 |
96.160,00 |
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II. Premium share account |
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III. Revaluation reserve |
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|
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IV. Reserves |
273.080,62 |
238.166,42 |
270.812,16 |
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Capital adjustments in Euros |
1,94 |
1,94 |
1,94 |
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Sundry reserves |
273.078,68 |
238.164,48 |
270.810,22 |
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V. Prior year earnings |
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VI. Prior year profit or losses |
26.198,07 |
32.645,74 |
4.494,81 |
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VII. Dividend paid during the year |
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VIII. Own shares for change in capital |
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B) DEFERRED INCOME |
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C) PROVISIONS FOR LIABILITIES AND EXPENSES |
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D) LONG TERM LIABILITIES |
13.659,94 |
33.790,81 |
35.284,53 |
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E) SHORT TERM LIABILITIES |
695.847,32 |
746.396,73 |
669.767,43 |
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F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
|
|
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LIABILITIES (A + B + C + D + E + F) |
1.104.945,95 |
1.147.159,70 |
1.076.518,93 |
Profit and Loss Account
|
(Figures given in Euros) |
31/12/2004 (12)
|
31/12/2005 (12)
|
31/12/2006 (12)
|
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|
A) EXPENSES (A.1 a A.15) |
1.679.664,39 |
2.068.169,03 |
1.190.861,13 |
|
|
A.1 Operating Expenses |
1.385.809,31 |
1.714.147,34 |
922.778,97 |
|
|
A.3. Labor cost |
66.881,12 |
67.328,99 |
68.099,58 |
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|
Wages |
62.503,61 |
63.078,77 |
63.676,89 |
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|
Social security expenses |
4.377,51 |
4.250,22 |
4.422,69 |
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A.3. Assets depreciation |
8.003,77 |
8.003,77 |
8.003,77 |
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A.4. Variance in provision for current
assets |
|
|
|
|
|
A.5. Other operating costs |
206.690,45 |
228.761,92 |
189.757,89 |
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A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
7.733,29 |
66.807,58 |
2.151,67 |
|
|
A.6. Financial expenses |
1.047,91 |
34.014,05 |
255,39 |
|
|
Debts with related companies |
|
1.648,66 |
|
|
|
Other companies debts |
1.047,91 |
|
255,39 |
|
|
Losses from financial investments |
|
32.365,39 |
|
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A.7. Variation in financial investments
provision |
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A.8. Exchange losses |
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A.II. POSITIVE FINANCIAL RESULTS
(B.2+B.3-A.6-A.7-A.8) |
29.469,56 |
|
4.252,07 |
|
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A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
37.202,85 |
48.026,11 |
6.403,74 |
|
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A.9. Variation in provision in fixed
assets |
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A.10. Losses in fixed assets |
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|
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A.11. Losses from shares and bonds |
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|
|
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A.12. Extraordinary charges |
4,08 |
1.921,92 |
39,18 |
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A.13. Prior year’s expenses and losses |
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A.IV. POSITIVE EXTRAORDINARY RESULT
(B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
222,97 |
|
17,42 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
37.425,82 |
46.636,78 |
6.421,16 |
|
|
A.14. Corporate Taxes |
11.227,75 |
13.991,04 |
1.926,35 |
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A.15. Other taxes |
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A.VI. YEAR END RESULT (PROFIT)
(A.V-A.14-A.15) |
26.198,07 |
32.645,74 |
4.494,81 |
|
|
B) INCOMES (B.1 a B.8) |
1.705.862,46 |
2.100.814,77 |
1.195.355,94 |
|
|
B.1. Operating income |
1.675.117,94 |
2.085.049,60 |
1.190.791,88 |
|
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Turnover |
1.675.117,94 |
2.085.049,60 |
1.190.791,88 |
|
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B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5-B.1) |
|
|
|
|
|
B.2. Financial Income |
2.881,51 |
3.460,65 |
4.507,46 |
|
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Other |
2.881,51 |
3.460,65 |
4.507,46 |
|
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B.3. Gains on exchange |
27.635,96 |
11.771,93 |
|
|
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B.II. FINANCIAL LOSSES
(A.6+A.7+A.8-B.2-B.3) |
|
18.781,47 |
|
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
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B.4. Gains from disposal of fixed assets |
|
|
|
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B.5. Gains from dealing in own shares |
|
|
|
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B.6. Paid in surplus |
|
|
|
|
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B.7. Extraordinary income |
227,05 |
532,59 |
56,60 |
|
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B.8. Prior year’s income and profits |
|
|
|
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B.IV. EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
|
1.389,33 |
|
|
|
B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
|
|
|
|
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B.VI. NET LOSS (B.V+A.14+A.15) |
|
|
|
Main Ratios
|
(Figures given in Euros) |
2.004 (12) |
2.005 (12) |
2.006 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
84,75 |
24,47 |
-42,89 |
|
|
Assets Turnover |
1,52 |
1,82 |
1,11 |
|
|
Productivity |
1,24 |
2,11 |
1,15 |
|
|
Increase of the Added Value |
-8,54 |
72,05 |
-44,94 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
2,37 |
2,85 |
0,42 |
|
|
Financial Profitability |
6,63 |
8,90 |
1,21 |
|
|
Financial Expenses |
0,06 |
1,63 |
0,02 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
130,00 |
109,00 |
157,00 |
|
|
Suppliers’ Credit (In days of sales) |
|
|
|
|
|
Working Capital (In days of sales) |
68,00 |
61,00 |
116,00 |
|
|
Working Capital Requirement (In days of
sales) |
24,00 |
26,00 |
74,00 |
|
|
Treasury (In days of sales) |
43,00 |
35,00 |
42,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
314.174,83 |
350.575,42 |
382.073,26 |
|
|
Working Capital Requirement |
112.429,47 |
150.535,16 |
243.594,60 |
|
|
Treasury |
201.745,36 |
200.040,26 |
138.478,66 |
|
|
Balance Ratio |
4,31 |
7,99 |
16,48 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
64,21 |
68,01 |
65,49 |
|
|
Own / Permanent Funds |
96,66 |
91,57 |
91,33 |
|
|
Payback Capacity |
0,42 |
0,37 |
0,59 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,45 |
1,47 |
1,57 |
|
|
Immediate Liquidity |
0,29 |
0,27 |
0,21 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.006 |
|
|
|
Assets |
|||
|
A) DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,00 |
0,00 |
|
B) FIXED ASSETS |
2,25 |
27,58 |
-25,33 |
|
C) ACCRUED EXPENSES |
0,05 |
0,22 |
-0,17 |
|
D) CURRENT ASSETS |
97,71 |
72,18 |
25,53 |
|
TOTAL ASSETS (A + B + C
+ D) |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
A) SHAREHOLDERS EQUITY |
34,51 |
43,50 |
-8,99 |
|
B) ACCRUED INCOME |
0,00 |
0,01 |
-0,01 |
|
C) RISK AND EXPENDITURE
COVER |
0,00 |
0,01 |
-0,01 |
|
D) LONG-TERM CREDITORS |
3,28 |
14,45 |
-11,17 |
|
E) SHORT-TERM CREDITORS |
62,22 |
42,02 |
20,20 |
|
F) SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,00 |
0,00 |
|
TOTAL LIABILITIES (A + B
+ C + D + E + F) |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.006 |
|
|
|
Net turnover |
100,00 |
99,83 |
0,17 |
|
Other operating income |
0,00 |
0,16 |
-0,16 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
77,49 |
53,24 |
24,25 |
|
Other operation expenses |
15,94 |
13,66 |
2,28 |
|
Added value |
6,57 |
33,08 |
-26,51 |
|
Labor cost |
5,72 |
25,42 |
-19,70 |
|
Gross Economic Result |
0,85 |
7,66 |
-6,81 |
|
Assets depreciation |
0,67 |
2,78 |
-2,11 |
|
Variation in provision
for current assets |
0,00 |
-0,24 |
0,24 |
|
Net Economic Result |
0,18 |
5,12 |
-4,94 |
|
Financial income |
0,38 |
0,10 |
0,28 |
|
Financial expenses |
0,02 |
1,40 |
-1,38 |
|
Variation in financial
investment provision |
0,00 |
0,00 |
0,00 |
|
Ordinary Activities
Result |
0,54 |
3,82 |
-3,28 |
|
Extraordinary income |
0,00 |
0,17 |
-0,17 |
|
Extraordinary expenses |
0,00 |
0,03 |
-0,03 |
|
Variation in provision
in fixed assets |
0,00 |
0,00 |
0,00 |
|
Results before Taxes |
0,54 |
3,95 |
-3,41 |
|
Corporaye taxes |
0,16 |
1,22 |
-1,06 |
|
Net Result |
0,38 |
2,73 |
-2,35 |
|
Assets depreciation |
0,67 |
2,78 |
-2,11 |
|
Provisions fund
variation |
0,00 |
-0,24 |
0,24 |
|
Net Self-Financing |
1,05 |
5,27 |
-4,22 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.006 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
-42,89 |
-14,16 |
4,21 |
20,39 |
|
Assets Turnover |
1,11 |
0,79 |
1,38 |
2,19 |
|
Fixed Assets Turnover |
48,25 |
2,22 |
8,55 |
19,09 |
|
Increase of the Added
Value |
-44,94 |
-4,02 |
6,69 |
24,98 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,15 |
1,06 |
1,26 |
1,38 |
|
Change of Personnel
Costs |
1,14 |
-4,17 |
8,42 |
16,00 |
|
Average Personnel Costs |
17.024,90 |
16.520,00 |
18.610,00 |
23.220,00 |
|
Value Added by Employees |
19.563,76 |
18.750,00 |
23.430,00 |
33.370,00 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
12.498,58 |
6.210,00 |
14.390,00 |
46.610,00 |
|
Operating Cash Flow |
10.155,44 |
6.400,00 |
27.080,00 |
64.950,00 |
|
Change in Cash Flow |
-69,25 |
-35,24 |
-4,19 |
19,48 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
0,42 |
0,64 |
1,48 |
4,63 |
|
Financial Profitability |
1,21 |
1,54 |
5,82 |
9,79 |
|
Financial Expenses |
0,02 |
0,10 |
0,80 |
1,93 |
|
Gross Economic
Profitability |
0,94 |
3,13 |
5,59 |
12,29 |
|
Gross Financial
Profitability |
2,73 |
9,08 |
15,79 |
28,10 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
156,00 |
9,26 |
33,42 |
76,77 |
|
Suppliers’ Credit (In
days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
115,00 |
22,43 |
82,19 |
143,04 |
|
Working Capital
Requirement (In days of sales) |
73,00 |
-1,85 |
46,90 |
86,34 |
|
Treasury (In days of
sales) |
41,00 |
7,37 |
20,06 |
50,52 |
|
Operating Current Assets |
317,00 |
114,01 |
203,39 |
272,49 |
|
BALANCE |
|
|
|
|
|
Working Capital |
382.073,26 |
12.480,00 |
98.740,00 |
236.810,00 |
|
Working Capital
Requirement |
243.594,60 |
-4.190,00 |
44.420,00 |
215.490,00 |
|
Treasury |
138.478,66 |
10.190,00 |
41.330,00 |
73.920,00 |
|
Balance Ratio |
16,48 |
1,42 |
1,88 |
3,90 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
65,49 |
42,28 |
55,89 |
73,21 |
|
Own / Permanent Funds |
91,32 |
60,84 |
94,54 |
100,00 |
|
Payback Capacity |
0,59 |
0,20 |
0,35 |
0,69 |
|
Long term Indebtedness |
3,28 |
0,00 |
4,02 |
22,06 |
|
Gearing |
289,80 |
173,83 |
226,72 |
411,53 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,53 |
1,36 |
1,78 |
2,36 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,57 |
1,31 |
1,46 |
2,51 |
|
Immediate Liquidity |
0,21 |
0,05 |
0,16 |
0,49 |
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%)