%20PRIVATE%20LIMITED%2022-May-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
POWERCAP SYSTEMS (MADRAS) PRIVATE LIMITED |
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Registered Office : |
Plot No. 245-246 B Burma Colony, Perungudi, Chennai – 600096, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Year of Establishment: |
23.05.1994 |
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Com. Reg. No.: |
18-27617 |
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CIN No.: [Company
Identification No.] |
U3007TN1994PTC027617 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEP02698D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Transformers, Coils and Chokes. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established Company engaged in manufacturing and Sale of soft Ferrite Transformers, Silicon Steel Lamination transformers, R-Core transformers, Coils, Chokes etc. The Company’s business is progressing extremely well. Its trade relations are fair. Payments are usually correct and as per commitments. It can be considered normal for business dealings at usual trade terms and conditions. |
INFORMATION
DECLINED BY
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Name : |
Mr. Suresh |
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Date : |
28.04.2008 |
LOCATIONS
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Registered Office : |
Plot No. 245-246 B Burma Colony, Perungudi, Chennai – 600096, Tamilnadu, India |
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Tel. No.: |
91-44-42154750 / 42154760 / 42154770 |
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Fax No.: |
91-44-42154780 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. T. Pandian |
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Designation : |
Managing Director |
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Address : |
54, Film ST. Annai Indira Nagar, Valachery, Chennai- 600042 |
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Date of Birth/Age : |
01.06.1964 |
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Date of Appointment : |
23.05.1994 |
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Name : |
Ms. Sundari Minakshi P |
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Designation : |
Director |
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Address : |
54, Film ST. Annai Indira Nagar, Valachery, Chennai- 600042 |
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Date of Birth/Age : |
22.11.1965 |
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Date of Appointment : |
23.05.1994 |
KEY EXECUTIVES
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Name : |
Mr. T.V. Manikandan |
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Designation : |
Manager-Sales and Customer Support |
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Mobile No. : |
91-9840754080 |
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Email: |
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Name : |
Mr. K. Shankar |
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Designation : |
Head- Technical |
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Mobile No. : |
91-9840754030 |
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Email: |
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Name : |
Mr. K. Mohanakrishnan |
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Designation : |
Head-Manufacturing |
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Mobile No. : |
91-9840898837 |
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Email: |
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Name : |
Mr. M. Paranthaman |
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Designation : |
Manager-Quality Assurance |
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Mobile No. : |
91-9840898836 |
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Email: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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T. Pandian |
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10000 |
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Sundari Minakshi P |
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10000 |
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Total |
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20000 |
Equity Share Capital Breakup (Percentage of Total Equity)
As on 30.09.2005
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Category |
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Percentage |
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Directors or Relatives of Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Transformers, Coils and Chokes. |
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Products : |
Silicon Steel Lamination Power Transformers Ř Isolation Transformer Ř Inventor Transformer Ř Charger Transformer Ř Buck/Boost Transformer Ř Auto Transformer Ř Phase Shifting Transformer Ř Neutral Grounding Transformer Silicon Steel Lamination Control/Sensing Transformers Ř Control Transformer Ř Sensing Transformer Ř Instrument Transformer Ř Auxiliary Transformer Ř Potted and Encapsulated Transformer Ř PCB mount Pin type Transformer Silicon Steel Lamination Chokes / Reactor Ř Harmonic Filter Reactor Ř AC Line Reactor Ř DC Line Reactor Ř Common/differential mode choke Ř DC Filter Choke Ř AC Filter Choke Silicon Steel Toroidal Power/Control Transformers Ř Power Transformer Ř Control Transformer Ř Instrumental Transformer Ř Auto Transformer Soft Ferrite Core Transformers
(High Frequency) Ř Switch Mode Transformers Ř Pulse Transformer Ř Driver Transformer Ř AF & RF Transformer Ř Output Transformer Ř Matching Transformer Ř Video Transformer Ř Coupling Transformer Ř Line Transformer Soft Ferrite Core Coils/Chokes/Inductors Ř Common/Differential Mode Choke Ř EMI Choke Ř Peaking Coil Ř Linearity Coil Ř Width Coil Ř Balun Coil Ř Solenoid Coil Ř Air Core Coil Soft Ferrite Rod/Bead Inductors Ř EMI Filters Ř RF Suppression Inductor Ř Fixed Inductor Soft Ferrite/MPP/Powder Iron Toroid Transformers and Choke Ř EMI Filter Inductor Ř Power Choke Ř Line Filter Choke Ř Current Sensing Transformer R-Core Transformers Ř Control Transformer Ř Instrument Transformer Ř Sensing Transformer |
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Exports : |
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Products : |
transformers, Coils and Chokes |
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Countries : |
Singapore, North America and Malaysia |
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Imports : |
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Products : |
Copper Wires, Polyester Tapes and Soft FESOUTE cores |
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Countries : |
Singapore, Taiwn and China |
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Terms : |
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Selling : |
L/C (60 days) |
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Purchasing : |
L/C (30 days) or TT in advance |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
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Transformer |
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10,000pcs/day approx. |
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Coils and Chokes |
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20,000pcs/day approx. |
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GENERAL
INFORMATION
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Customers : |
2. M/s. BBS Access Pte. Ltd. 3. M/s. ICE Transformers s.r.l 4. M/s. TVS Electronics Ltd. 5. M/s. Alstom Ltd. 6. M/s. Himachal Futuristic Communications
Ltd 7. M/s. Electronics
Corporation of India Ltd. 8. M/s. International
Components of India Ltd. 9. M/s. Shyam Telecom Ltd 10. M/s. Flextronics Technologies India
Pvt. Ltd. 11. M/s. Elymer International Pvt. Ltd 12. M/s. Midas Communication Technologies
Pvt. Ltd. 13. M/s. Banyan Networks Ltd. 14. M/s. Triphase Technologies (P) Ltd. 15. M/s. Electronics & Control Power
Systems Pvt. Ltd. 16. M/s. Hykon Electronic systems 17. M/s. Hykon Power Electronics (P) Ltd. 18. M/s. Protectron Electromech Pvt. Ltd. 19. M/s. Rangsons Electronics Pvt. Ltd. 20. M/s. Measurements and Controls India
Ltd. 21. M/s. Schiller Healthcare India Pvt.
Ltd. 22. M/s. T. T. Electronics Ltd. 23. M/s. Consul Consolidated (P) Ltd 24. M/s. Wels Secutrons Pvt. Ltd 25. M/s. VI Microsystems Pvt. Ltd. 26. M/s. DATS (India) Ltd. 27. M/s. Vetal Textiles & Electronics
Pvt. Ltd. 28. M/s. Akas Electric Systems Pvt. Ltd. 29. M/s. Face UPS Engineers 30. M/s. Nutech Engineers and Power
Systems Ltd. 31. M/s. Ozonetek Ltd 32. M/s. Pacer Power Solutions Ltd. 33. M/s. Procon Instrumentation Pvt. Ltd. |
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No. of Employees : |
105 |
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Bankers : |
Canara Bank,
Specialised SSI Branch, Perungudi, Chennai- 600096 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. V. Krishnan Chartered Accountant |
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Address : |
8, Kennedy First Street, Mylapore, Chennai – 600004 |
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Tel. No.: |
91-44-24991707 |
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Fax No.: |
91-44-24991707 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
2000 |
Equity Shares |
Rs 100/- each |
Rs. 0.200 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
20,230 |
Equity Shares |
Rs 100/-
each |
Rs. 2.023
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.023 |
1.773 |
0.999 |
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2]Share Application Money |
0.000 |
0.000 |
0.000 |
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3]Reserves & Surplus |
1.275 |
0.800 |
0.542 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.298 |
2.573 |
1.541 |
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LOAN FUNDS |
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1] Secured Loans |
2.515 |
2.989 |
1.397 |
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2] Unsecured Loans |
0.000 |
0.446 |
0.207 |
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TOTAL BORROWING |
2.515 |
3.435 |
1.604 |
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DEFFERED TAX LIABILITIE |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.813 |
6.008 |
3.145 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.833 |
3.892 |
2.214 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENTS |
0.000 |
0.000 |
0.000 |
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DEFFERED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
3.903 |
4.699 |
4.055 |
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Other Current Assets |
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Loans & Advances |
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Total Current Assets |
3.903 |
4.699 |
4.055 |
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Less : |
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CURRENT LIABILITIES AND PROVISIONS |
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Current Liabilities |
1.924 |
2.584 |
3.127 |
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Provisions |
0.000 |
0.000 |
0.000 |
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Total Current Liabilities |
1.924 |
2.584 |
3.127 |
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Net Current Assets |
1.979 |
2.115 |
0.928 |
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MISCELLANEOUS EXPENSES |
0.001 |
0.001 |
0.003 |
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TOTAL |
5.813 |
6.008 |
3.145 |
%20PRIVATE%20LIMITED%2022-May-2008_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%2022-May-2008_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%2022-May-2008_files/image005.gif){kind=small}
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
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Sales Turnover (Including other income) |
15.169 |
10.018 |
10.499 |
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Total Income |
15.169 |
10.018 |
10.499 |
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Profit/(Loss) Before Tax |
0.475 |
0.234 |
0.165 |
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Provision for Taxation |
-- |
-- |
-- |
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Profit/(Loss) After Tax |
0.475 |
0.234 |
0.165 |
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Export Earnings |
1.158 |
NA |
NA |
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Expenditures : |
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Cost of Materials |
8.430 |
5.969 |
6.380 |
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Manufacturing Expenses |
2.840 |
1.474 |
1.822 |
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Administrative Expenses |
2.966 |
2.092 |
1.953 |
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Loss on Sale of Assets |
0.000 |
0.036 |
0.000 |
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Preliminary Expenses |
0.001 |
0.001 |
0.001 |
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Depreciation & Amortization |
0.198 |
0.159 |
0.117 |
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Other Expenditure |
0.258 |
0.051 |
0.060 |
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Total Expenditure |
14.693 |
9.782 |
10.333 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2003 |
31.03.2002 |
31.03.2001 |
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PAT / Total Income |
(%) |
3.13
|
2.33 |
1.57 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.13
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2.33 |
1.57 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.14
|
2.72 |
2.63 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.09 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.34
|
2.33 |
3.07 |
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Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.82 |
1.29 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
POWERCAP SYSTEMS (MADRAS)
PRIVATE LIMITED |
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Presented By |
The Senior
Manager, Canara Bank, Specialised SSI Branch, Perungudi, Chennai- 600096 |
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1) Date and description of instrument creating the change |
All agreements
dated 05.08.2003 and pertaining to a single charge i) Cash credit
Agreement ii) Agreement Re
Advances against Book Debts as Prime Security iii) Agreement
for Discounting of supply Bills iv) Deed of
Hypothecation re:Machinery v) Agreement re: Collateral Security: Machinery:
Vehicles |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 4.210
Millions ODBD/OCC – RS.
1.500 Millions Supply Bills –
Rs. 2.000 Millions Term Loan – Rs.
0.710 Million |
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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 by
way of First charge in favour of Bank on whole of the borrower’s present and
future stocks of raw materials, goods in process of manufacture and all
finished and manufactured goods and articles such as transformers etc.
together with all stores, components and spares and all present and future
Book Debts, outstanding monies, receivables, claims, bills, rights to or in
movable properties and moveable assets and over the amounts receivable by the
borrower in respect of supplies made to the purchases from time to time
against which the borrower has drawn supply bills or any other similar type
of instrument and obtained advances from the bank thereon and also the
machineries as mentioned in schedule A viz 1) Heavy duty Motorised winding
machine-1 No. 2) Heavy Duty Hand Winding Machine-2 No. 3)Mororised Winding
Machine-11 Nos. 4) Toroidal Winding Machine-1No. 5) Vaccum Varnish
impregnation Chamber-2Nos 6) Heating overn-1no (10.5 kw) 7) Heating Oven-1
No. (3 kv) 8) Bed Type drilling Machine-1 No. 9) Bench Grinder-1 No. 10)
Testing Equipments-11 Nos kept at borrower’s premises situated at Plot No.
245-246B, Burma Colony, Perungudi, Chennai-96 to secure the above sanctioned
limit of Rs. 4.210 Millions |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin: ODBD/OCC: Stocks-
25% Book Debts-40% Rate of Interest: Cash ,Credit and
Supply Bills: 1.75% over and above Prime Lending Rate with a minimum of Rs.
12.75% p.a. The term loan of
Rs. 0.710 Million is repayable in 60 Monthly installments of which the first 59 installments of Rs.
0.012 Million each and last installment at Rs. 0.002 Million with rate of
interest at 13.5% p.a. commencing from September 2003. |
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5) Name and Address and description of the person entitled to the charge. |
The Senior
Manager, Canara Bank, Speciallised SSI Branch, Perunguldi, Chennai 600096 |
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6) Date and brief description of instrument modifying the charge |
Dated 25.01.2005 i) Hypothecation
Agreement of goods and Book Debts (For DALC/ DPG/ Guarantee) ii) Deed of
Hypothecation of Re: Machinery iii) Supplemental
Collateral Security Agreement iv) Letter
Evidencing Extension of Equitable Mortgage by way of deposit of the titles
deeds on 25.01.2005 |
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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. |
The total limits
has been enhanced from Rs. 4.410 Millions to Rs. 6.300 Millions as per the
details given hereunder.
Besides the securities so far offered, the above enhanced limit of Rs. 6.300 Millions is Primarily secured by way of hypothecation in favour of bank on all the goods and commodities purchased, acquired under said credit facilities and all that plant and machinery, tools and accessories already purchased and described in schedule viz. Test equipment, Test meter and also the machinery to be purchased kept at borrower’s premises at 245-246, Burma Colony, Perungudi, Chennai – 96, and all the book debts, outstanding, money receivables, claims and bills arising out of sale, disposal of the goods received under the said credit facilities which are now due and owing and also collaterally secured by way of extension of equitable mortgage by way of deposit of title deeds on the following properties : Item 1 : all the piece and parcel of land bearing Plot No. 245 measuring about 1920 sq. ft. comprised of Survey No. 137/1A1 of Palavakkam Village, Tambaram Taluk, Conjeevaram District and being bounded on the North by 30 feet Road, South by Plot No. 269 East by Plot No. 246 and West by 30 feet Road. Item 2 : all the piece and parcel of land bearing Plot No. 246 measuring about 1920 sq. ft. comprised of Survey No. 137/1A1 of Palavakkam Village, Tambaram Taluk, Conjeevaram District and being bounded on the North by 30 feet Road, South by Plot No. 270 East by Plot No. 246a and West by Plot No. 245 Item 3 : all the piece and parcel of land bearing Plot No. 246-A measuring about 1920 sq. ft. comprised of Survey No. 137/1A1 of Palavakkam Village, Tambaram Taluk, Conjeevaram District and being bounded on the North by 30 feet Road, South by Plot No. 270A East by Plot No. 246B and West by Plot No. 246 Item 4 : all the piece and parcel of land bearing Plot No.
246-B measuring about 1920 sq. ft. comprised of Survey No. 137/1A1 of
Palavakkam Village, Tambaram Taluk, Conjeevaram District and being bounded on
the North by 30 feet Road, South by Plot No. 270 B East by Compound wall in
Survey No. 137/1A2 and West by Plot No. 246 A, and th four plot being
reconstituted in one unit, with the building reacted therein, and lying
within the registration district of south Chennai and Registration sub
district of Neelankarai |
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This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90294056 |
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Corporate
identity number of the company |
U30007TN1994PTC027617 |
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Name of the
company |
POWERCAP SYSTEMS
(MADRAS) PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
245-246-B, Burma
Colony, Perungudi, Chennai- 600096, Tamilnadu, India |
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Type of charge |
Immovable
Property Movable Property |
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Particular of
charge holder |
Canara Bank Perungudi
Branch, Chennai, Tamilnadu- 600096, India |
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Nature of
description of the instrument creating or modifying the charge |
Equitable
Mortgage Deed Dated 02.07.2007 |
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Date of
instrument Creating the charge |
02.07.2007 |
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Amount secured by
the charge |
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest OCC-14.25%, Term
Loan-14% Terms of Repayment In 72 Monthly Installments
Rs. 0.065 Millions for 71 months and Rs. 0.065 Millions for The Last Month. Repayment
Holiday- 3 Months. Margin 25% For Stock And
30% for Book Debts 20% For FLC-DA 25% For Term Loan Extent and Operation of the charge Prime
Security-Stock and Book Debts Collateral
Security-
|
|
Short particulars
of the property charged |
Prime
Security-Stock and Book Debts Collateral
Security-
|
|
Particulars of
the present modification |
Enhancement of
Limits From Rs. 11.710 Millions to Rs. 19.550 Millions |
Trade References:
- Consul Consolidated Private Limited, 4/329A, Old Mahabi Road, Chennai – 600041
Tel. No. : 91-44-24481555
- Michu Communication Technologies Private Limited, 3/440, East Court Road, Ground Floor, Neelankarai, Chennai – 600041
Tel. No.
: 91-44-24491620
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.42.72 |
|
UK Pound |
1 |
Rs.83.96 |
|
Euro |
1 |
Rs.66.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|