MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAHUL CABLES PRIVATE LIMITED |
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Registered Office : |
811 / 812, Raviwar Peth 323, Kalyan Sadan, Pune – 411 002, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
12.08.1998 |
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Com. Reg. No.: |
012787 |
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CIN No.: [Company
Identification No.] |
U31200PN1998PTC012787 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNER01467E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Electrical Wires and Cables. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Scale of Operation appears to be limited. No financials are available
since incorporation. No payment are yet available. In absence of latest financial and business details, it is difficult
to determine the creditworthiness and financial status of the company. Hence, fully safe and secured business dealings are only recommended
Repeated efforts to contact management failed. |
LOCATIONS
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Registered Office : |
811 / 812, Raviwar Peth 323, Kalyan Sadan, Laxmi Road, Pune – 411 002,
Maharashtra, India. |
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Tel. No.: |
91-20-4029644 / 4460080 |
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Fax No.: |
91-20-4027645 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Factory : |
E-4A, Ground Floor, Crystal Plaza, New Link Road, Andheri (West),
Mumbai – 400 053, Maharashtra, India. |
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Tel No : |
91-22-26733275 |
DIRECTORS
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Name : |
Mr. Ashok Kukreja |
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Designation : |
Chairman |
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Address : |
194/6, Narsing Society, D P Road, Pune – 411 001, Maharashtra, India. |
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Date of Appointment : |
12.08.1998 |
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Name : |
Mr. Badalmal J Kukreja |
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Designation : |
Director |
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Address : |
194/6, Narsing Society, D P Road, Pune – 411 001, Maharashtra, India. |
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Date of Appointment : |
12.08.1998 |
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Name : |
Mr. Raj Kumar Kukreja |
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Designation : |
Director |
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Address : |
Green Acres, Kondhwa, Pune – 411 048, Maharashtra, India |
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Date of Appointment : |
12.08.1998 |
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Name : |
Mr. Nand Kumar Kukreja |
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Designation : |
Director |
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Address : |
Flat No. 1202, 12th Floor, Versova Galactica Co. Opp. Hsg.
Soc, 3rd Cross Road, Lokhandwala Complex, Andheri (West), Mumbai –
400053, Maharashtra, India. |
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Date of Appointment : |
12.08.1998 |
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Name : |
Mr. Mukesh Kukreja |
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Designation : |
Director |
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Address : |
194/6, Narsing Society, D P Road, Pune – 411 001, Maharashtra, India. |
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Date of Appointment : |
12.08.1998 |
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Name : |
Mrs. Nishita M. Kukreja |
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Designation : |
Director |
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Address : |
194/6, Narsing Society, D P Road, Pune – 411 001, Maharashtra, India. |
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Date of Appointment : |
12.08.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Ashok Kukreja |
1080 |
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Mr. Badalmal Kukreja |
10 |
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Mr. Badalmal Kukreja |
1094 |
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Mrs. Geeta Kukreja |
30 |
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Mrs. Hari Devi Kukreja |
30 |
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Mr. Mukesh Kukreja |
2067 |
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Mr. Nand Kumar Kukreja |
2080 |
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Mrs. Nishita Kukreja |
10 |
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Mr. Raj Kumar Kukreja |
2058 |
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Mrs. Rachana Kukreja |
30 |
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Mrs. Sunita Kukreja |
30 |
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Mr. Dinesh Oswal |
1 |
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Rahul Cable Private Limited |
30 |
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Total |
8550 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Electrical Wires and Cables. |
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Products : |
v Flexible Cable v Fiber Optical
Cable v Telephone Cables v Instrumentation
Cables v H T XLPE/PILC
Cables v PCP/CSP Rubber
Cables v L. T. Power and
Control Cables v House Wire v FRLS Wire |
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Brand Names : |
v INCAB v Universal v Torrent v Asian v Nicco |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL
INFORMATION
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Authorised Distributor : |
v Cable
Corporation of India Limited v Poly Cab
Industries Limited v Fort Gloster
Industries Limited v Finilex Cables
Limited v Torrent Cables
Limited v Cable Jointing
Kits v Raychem v Denson v XICON v INCAB v RPG Cables |
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Customers : |
v End Users v Hindustan Lever
Limited v BSES Limited v Schenectady
Herdillia Limited v Thermax Limited v Raymond
Industries v Gammon India v Sahara India
Comm. Corporation Limited v Bechtel
International Incorporation v Tecnimont ICB v Siemens India v UDHE India v Kvaerner Power
Gas v Wartsila India
Limited v Alfa Laval v L and T Group v Bajaj Auto
Limited v Tata Group v Telco Limited v Birla Textile
Limited |
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No. of Employees : |
4 |
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Bankers : |
HDFC Bank Limited, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India. |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs. 100/- Each |
Rs. 3.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8550 |
Equity Shares |
Rs. 100/- Each |
Rs. 0.855
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
The Company is reported as poor in corporate Governance as no financials
are available since incorporation of the company since 1998.
Efforts to contact top level
management failed, so far.
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
RAHUL CABLES PRIVATE LIMITED |
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Presented By |
Union Bank of India, Pune City Branch, Pune
- 411002 |
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1) Date and description of instrument creating the change |
1. Hypothecation Agreement of Goods and Debts dated 15.03.2002 2. Hypothecation Agreement of vehicles dated 15.03.2002 (Both the agreements constitutes a single charge) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 7.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of cables of CCI Limited Ford Glostar, Finolex Cables and Polychem and other reputed companies. All raw materials, semi finished goods and finished goods, consumable stores and spares and movable property of any kind now or at any time hereafter belonging to or at the disposal of the borrower and which are now stored or being stored or which hereafter may from time to time be brought into or stored to be stored or be in or about the borrower’s premises or godowns at Datta Wadi, Pune and at other places. The borrower’s book debts, outstandings, monies, deposits, receivables, claims and bills, contracts, securities, investments which are now due or become due. Hypothecation of Truck (No. MH-14-818) of the borrower. |
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4) Gist of the terms and conditions and extent and Operation of the charge. |
Rate of Interest @ 15.00% with quarterly rests or at such other revised rates. |
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5) Name and Address and description of the Person entitled to the charge. |
Union Bank of India, Raviwar Peth Branch, 189, Raviwar Peth, Pune – 411 002. |
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6) Date and brief description of instrument modifying the charge |
Supplementary Agreement to Hypothecation Agreement of Goods and debts dated 15.07.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the Details of the modification. |
Original charge was created on 15.03.2002 for Rs. 7.000 millions. By first modification dated 15.04.2004, the above cash credit limit was increased from Rs. 7.000 millions to Rs. 10.000 millions. Interest at 12.75 p.a. with monthly rests. Other terms and conditions remain the same. Second modification dated 11.11.2004 the cash credit limit was increased upto Rs. 20.000 millions. Rate of Interest @13.25% p.a. with monthly rests. Other terms and conditions remain the same. By this modification, the cash-credit limit is increased upto Rs. 30.000 millions. Rate of interest @ 11.25% p.a. with monthly rests. Other terms and conditions remain the same. |
Profile
Subject is authorised distributor for following company.
v Cable Corporation of India limited
v Poly Cab Wires Private Limited
v Fort Gloster Industries Limited
v Finolex Cables Limited
They are dealing in all types of cables
v H.T.XLPE/PILC Cables
v L.T. Power and control Cables
v PCP/CSP Rubber Cables
v FRLS Cables
v Instrumentation Cables
v Flexible Cable
v House Wires etc
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheces
including but not limited to: The Cthets, 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] Cthet 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 :
The 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.
The 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. 41.79 |
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UK Pound |
1 |
Rs. 81.60 |
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Euro |
1 |
Rs. 64.01 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
-- |
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--LEVERAGE |
1~10 |
-- |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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17 |
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
unfavorable 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 |
Unfavorable & favorable 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, they have no basis upon which to
recommend credit dealings |
No Rating |
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