MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARIHANT EVERGREEN AGRO PLAST AND TEXTILES PRIVATE LIMITED |
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Registered Office : |
Kesar Bhawan, Opp Mayank Cinema, Station Road, Jaipur, Rajasthan |
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Country : |
India |
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Date of Incorporation : |
23.12.1998 |
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Com. Reg. No.: |
15286 |
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CIN No.: [Company
Identification No.] |
U17124RJ1998PTC015286 |
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IEC No.: |
1300001291 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRA02488D |
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PAN No.: [Permanent
Account No.] |
AACCA5261G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Importer and Supply of Agricultural Sprinklers, APL
Sprinkler System, Butt Welded Sprinkler, PVC Pipes, APL PVC Pipes, HDPE Coil
Pipes, Sprinkler Nozzles, Bare Pipes and Threaded Pipes. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 10 years old company but has not filed any financials
with the Government Departments till date. Management parted some general information
but declined to part with financials. Trade relations are fair. Payments are
reported as to be slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Anand Jain |
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Date : |
22.05.2008 |
LOCATIONS
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Registered Office : |
Kesar Bhawan, Opp Mayank Cinema, Station Road, Jaipur 302 006,
Rajasthan, India |
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Tel. No.: |
91-141-2206054/ 2206024 |
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Fax No.: |
91-141-2206069/ 2206054 |
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E-Mail : |
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Website : |
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Area : |
600 sq. ft. |
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Location : |
Rented |
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Factory 1 : |
Plot No. G 117/ 118, Sitapura Industrial Area, Jaipur, Rajasthan,
India |
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Area : |
4000 sq. meters |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Purshottam Kankarwal |
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Designation : |
Director (Resigned) |
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Address : |
4 Shree Jinagar Tonk Road, Durona Pura, Jaipur, Rajasthan, India |
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Date of Appointment : |
15.12.1999 |
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Name : |
Mr. Naresh Kankarwal |
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Designation : |
Director (Resigned) |
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Address : |
4 Shree Jinagar Tonk Road, Durona Pura, Jaipur, Rajasthan, India |
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Date of Appointment : |
15.12.1999 |
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Name : |
Mr. Pukharaj Jain |
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Designation : |
Director |
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Date of Birth/Age : |
50 Years |
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Qualification : |
H. S. C. |
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Name : |
Mrs. Bhagwanti Devi |
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Designation : |
Director |
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Date of Birth/Age : |
45 Years |
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Qualification : |
H. S. C. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importer and Supply of Agricultural Sprinklers, APL
Sprinkler System, Butt Welded Sprinkler, PVC Pipes, APL PVC Pipes, HDPE Coil
Pipes, Sprinkler Nozzles, Bare Pipes and Threaded Pipes. |
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Products : |
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Brand Names : |
“ROLEX” for HDPE Pipes, PVC
Pipe and Sprinkler Systems |
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Imports : |
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Products : |
HDP Granule |
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Countries : |
China |
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Terms : |
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Selling : |
On Cash and Credit upto 30-60 days basis |
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Purchasing : |
On Cash basis |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
Around 40 [In Office – 5 and In Factory – 35] |
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Bankers : |
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Financial Institutions : |
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Facilities : |
The company enjoys Cash Credit facility from it banker. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sanjay Kumar Shah and Company Chartered Accountants |
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Address : |
Lohudiya Towers, Jaipur, Rajasthan, Jaipur, India |
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Subsidiaries : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 20.000 millions |
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Borrowed : |
Rs. 10.000 millions |
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Total : |
Rs, 30.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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50.000 |
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Expected Sales (2008-09) : Rs. 70.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL
ACCEPTANCE CHART
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Parameters |
Detail |
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VAT/ TIN Registration |
08952153527 |
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Excise Registration |
AACCA5261GXN001 |
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Name of Bank |
Bank of Baroda |
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Account Since |
Since January 2000 |
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IndiaMart Client Since |
3 Years |
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Year of Establishment |
December 1998 |
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SSI Registration |
Yes |
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Export Promotion Council |
No |
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Chambers of Commerce Membership |
No |
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D & B D-U-N-S Number |
No |
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Government Recognized Export House Status |
No |
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Other Affiliations |
No |
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Quality Management Systems |
ISO 9001:2000 [Certificate No. IJA0102.06] |
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Environment Management Systems |
No |
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Safety Certificates |
No |
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Product Certificates |
ISI |
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Other Certificates |
No |
FORM 8
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This form is for |
Modification of charge |
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Charge Identification (ID) number of the charge to be modified |
80000832 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U17124RJ1998PTC015286 |
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Name of the company |
ARIHANT EVERGREEN AGRO PLAST AND TEXTILES PRIVATE LIMITED |
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Address |
Kesar Bhawan, Opp Mayank Cinema, Station Road, Jaipur, Rajasthan |
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Type of Charges |
Equitable mortgage or mortgage of property by depositing the title
deeds |
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Whether consortium finance is involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Bank of Baroda Park Street, Jaipur 302 001, Rajasthan, India |
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Date of the instrument creating charge |
21.03.2006 |
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Amount Secure by the charge |
Rs. 8.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: Terms of repayment: Margin: Extent and operation of the charge: Others: |
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Description of the property charges indicating whether it is a charge on |
Immovable properties, stock in trade, plant and machinery, book debts |
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Particular of the property charge |
First charge by physical document |
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Brief description of the instrument modifying the charge under section 135 |
Memorandum of entry |
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Particulars of the present modification |
E. M. to cover the Term Loan of Rs. 8.000 millions |
The products are
already approved by the Department of Agriculture of Rajasthan, Rajasthan
Sahakari Bhoomi Vikas Bank, Department of Agriculture Engineering M.P. Bhopal. Their
Products are supplied all over the states of Rajasthan, Madhaya Pradesh and
Gujrat, Punjab and Haryana.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.72 |
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UK Pound |
1 |
Rs.83.96 |
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Euro |
1 |
Rs.66.90 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
4 |
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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 |
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 |
NO |
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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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36 |
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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