MIRA
INFORM REPORT
|
Report Date : |
24.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
JMD OILS PRIVATE LIMITED |
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Registered Office : |
5/24, Ramesh Nagar, New Delhi – 110 015 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.03.1995 |
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Com. Reg. No.: |
55 - 66690 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC066690 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ03307D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Edible Oil, Vanaspati and Dairy Products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 1009392 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Directors are reported as experienced, respectable and having satisfactory means of their own. Trade relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Ms. Reema Anandani |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9879612662 |
LOCATIONS
|
Registered Office : |
5/24, Ramesh Nagar, New Delhi – 110 015, India |
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Tel. No.: |
91-11-25168200 |
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Fax No.: |
91-11-25933400 |
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E-Mail : |
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Factory : |
Village Bhimasar, Opp. Bhimasar railway station, Bhimasar, Gandhidham
– 370201, Gujarat, India. |
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Tel. No.: |
91-2836-285543 |
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Fax No.: |
91-2836-285542 |
DIRECTORS
|
Name : |
Mr. Krishnan Dhingra |
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Designation : |
Director |
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Address : |
5/1B, Ramesh Nagar, New Delhi – 110015, India |
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Date of Birth/Age : |
28.12.1966 |
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Date of Appointment : |
22.13.1995 |
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Name : |
Mr. Ramji Lal Sharma |
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Designation : |
Director |
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Address : |
3/147, 1st Floor, Ramesh Nagar, New Delhi – 110015, India. |
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Date of Birth/Age : |
05.01.1965 |
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Date of Appointment : |
01.04.1999 |
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Name : |
Mr. Naresh Kumar Dhingra |
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Designation : |
Director |
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Address : |
5/1B, Ramesh Nagar, New Delhi – 110015, India |
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Date of Birth/Age : |
15.02.1969 |
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Date of Appointment : |
15.12.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Pawan Kumar Yadav |
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Designation : |
Company Secretary |
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Date of Birth/Age : |
12.07.1980 |
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Date of Appointment : |
01.09.2007 |
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Name : |
Ms. Kiran Preet Gill |
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Designation : |
Secretary |
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Address : |
P-75 D, Shankar Vihar, Delhi Cantt, Delhi – 110010, India. |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
|
Names of Shareholders |
No. of Shares |
|
Mr. Gulshan Kumar |
426049 |
|
Mr. Sanjay Dhingra |
472000 |
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Mr. Krishnan Kumar |
553000 |
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Mr. Naresh Kumar |
572500 |
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Mr. Gulshan Kumar HUF |
268900 |
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Mr. Sanjay Dhingra HUF |
123000 |
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Mr. Vivek Wadhwa |
50000 |
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Mr. V P Agarwal |
50000 |
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Mr. Sudhir Gulati |
690000 |
|
Supreme Finhold Private Limited |
20000 |
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Mrs. Kanika Dhingra |
170050 |
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Mrs. Seema Dhingra |
208390 |
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Mrs. Palka Dhingra |
84400 |
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JMD Proteins Private Limited |
523000 |
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Mrs. Anita Gultai |
100000 |
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Ms. Jamna Devi |
175600 |
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Shubh Marketing |
500010 |
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Mrs. Pinki Dhingra |
43500 |
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Mr. Pramod Chauhan |
50000 |
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Mr. Prem Khurana |
481500 |
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Mr. Sidharth Gulati |
100000 |
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Mr. Vijay Gulati |
100000 |
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Mrs. Ritika Gulati |
100000 |
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Mr. Pankaj Gera |
10000 |
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Mr. Ramji Lal Sharma |
41500 |
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Shakti Traders |
300000 |
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Mr. Naresh Kumar HUF |
36510 |
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Mr. Krishnan Kumar HUF |
60010 |
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Sai Distributors |
10 |
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JMD Veg Oils Private Limited |
690000 |
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Others |
71 |
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Total |
7000000 |
Preferential Shareholders
As on 31.03.2007
|
Names of Shareholders |
No. of Shares |
|
Mr. Vivek Wadhwa |
44750 |
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Mr. Sudhir Gulati |
42500 |
|
Mrs. Kanika Dhingra |
6000 |
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Mrs. Palka Dhingra |
6000 |
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Mrs. Anita Gulati |
40000 |
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Mr. Sidharth Gulati |
40000 |
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Mr. Vijay Gulati |
40000 |
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Mrs. Ritika Gulati |
40000 |
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Mr. Manoj Jawa |
5500 |
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Mr. Gautam Chopra |
60000 |
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Mr. Navin Jain |
13400 |
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Universal Traders |
23500 |
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Mrs. Pinki Dhingra |
6000 |
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Shankar sales agency |
102249 |
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Uma International |
96000 |
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Satnam Overseas |
125000 |
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Sai Distributors |
20000 |
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Shiv. Expo. Mark Private Limited |
11101 |
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H G Exim Private Limited |
3000 |
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Dandona Finance Limited |
75000 |
|
Total |
800000 |
Equity share breakup
(percentage of total equity)
|
Sr. No. |
Category |
Percentage |
|
1. |
Bodies corporate (not mentioned above) |
17.60 |
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2. |
Directors or relatives of directors |
45.60 |
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3. |
Other fifty (50) shareholders (other than
listed above) |
36.80 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Edible Oil, Vanaspati and Dairy Products. |
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Imports : |
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Products : |
v Crude palm oil v Crude soya oil |
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Countries : |
v Malaysia v Urgentina |
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Terms : |
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Selling : |
L/C, Credit |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Suppliers : |
v Acalmar Oils and Fats Limited v Aman Electric Company v Bansal Brokers v Bright Enterprises v Delhi Super Roadways v Durga Cartoon v Hind Vyapar v Inspectorate (India) Consulting Engineers v Integrated Shipping and Forwarding v Khaitan Agro v Kouk Oils and Grains Pte Limited v L M Lubricants v Osl Shipping Agencies (I) Private Limited v Shiv Expomark Private Limited v Shree Balaji Solutions v Syno Pack India v Verma
Trading Company |
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Customers : |
v Wholesalers v Retailers v Distributors v Aggarwal Food Products v Aggarwal Sweets v Alok Store v Anupama Sweet v Anwar Oils v Baiz Nath Hardwari Lal v Darshan Enterprises v Dhingra Trading Company v Dipton Coffee and Tea Company v Garg Traders v Hariom Trading Company v Hotel Hans Private Limited v Janki Mangal Udyog v Jindal Trans World Private Limited v J K Traders v Jumbo International v Markfed Vanaspati and Allied Industries v National Oils Traders v Rajhans Vegetable Oil Refinery v Sanjha Chulha Restaurant v Shree Ram Food Service v Shwepra Hygienic Foods Private Limited v Prabhat Solvant Extractions v STC Departmental Canteen v Suraj Vanaspati Limited v S
M Dyechem Limited |
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No. of Employees : |
150 |
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Bankers : |
v Indian Overseas
Bank, Gandhidham Branch v United Bank of
India v Punjab National
Bank, Gandhidham Branch v Dena Bank,
Gandhidham Branch v Development Credit
Bank, Delhi Branch v ICICI Bank,
Delhi Branch v Axis Bank,
Gandhidham Branch v ABN Amro Bank v Citi Bank v HDFC Bank Limited |
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Facilities : |
CC facility Rs. 100.000 millions from Dena Bank only for Gandhidham about
others not available.(person doesn’t know) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mukesh K. Arora and Company, Chartered Accountants |
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Address : |
64, Adarsh Nagar, Karnal – 132001, Haryana, India. |
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Tel. No.: |
91-184-2255544 |
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Mobile No.: |
91-9810305433 |
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E-Mail : |
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Associates : |
v JMD Proteins Private Limited v JMD Beverages Private Limited v JMD Veg. Oils Private Limited v Kwality Dairy (India) Limited v Super Store v Super Traders v Sanjay Proteins Private Limited v Super Veg. Oils Private Limited v Super Business Centre v Manna Ram Jamna Ram v Sanjay Traders v JMD Townships Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 70.000 millions |
|
800,000 |
Preference Shares |
Rs. 100/- Each |
Rs. 80.000 millions |
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Total |
|
Rs. 150.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7,000,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 70.000 millions |
|
800,000 |
Preference Shares |
Rs. 100/- Each |
Rs. 80.000 millions |
|
|
Total |
|
Rs. 150.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
150.000 |
150.000 |
88.965 |
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2] Share Application Money |
0.000 |
0.000 |
33.831 |
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3] Reserves & Surplus |
102.348 |
35.056 |
4.838 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(5.455) |
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NETWORTH |
252.348 |
185.056 |
122.179 |
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LOAN FUNDS |
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1] Secured Loans |
754.247 |
749.277 |
538.740 |
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2] Unsecured Loans |
286.208 |
256.416 |
169.751 |
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TOTAL BORROWING |
1040.455 |
1005.693 |
708.491 |
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DEFERRED TAX LIABILITIES |
55.827 |
19.748 |
26.619 |
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TOTAL |
1348.630 |
1210.497 |
857.289 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
683.070 |
723.038 |
657.139 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.460 |
0.460 |
0.460 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
511.438
|
495.049 |
200.175 |
|
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Sundry Debtors |
538.506
|
524.188 |
261.400 |
|
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Cash & Bank Balances |
8.607
|
9.208 |
11.069 |
|
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Other Current Assets |
13.695
|
10.195 |
0.000 |
|
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Loans & Advances |
43.159
|
25.259 |
41.727 |
|
Total
Current Assets |
1115.405
|
1063.899 |
514.371 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Current Liabilities |
443.813
|
574.319 |
314.254 |
|
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Provisions |
6.873
|
3.028 |
0.886 |
|
Total
Current Liabilities |
450.686
|
577.347 |
315.140 |
|
|
Net Current Assets |
664.719
|
486.552 |
199.231 |
|
|
|
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MISCELLANEOUS EXPENSES |
0.381 |
0.447 |
0.459 |
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|
|
|
|
|
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TOTAL |
1348.630 |
1210.497 |
857.289 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
4043.879 |
4001.642 |
1333.129 |
|
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Other Income |
17.036 |
9.538 |
1.715 |
|
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Total Income |
4060.915 |
4011.180 |
1334.844 |
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|
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Profit/(Loss) Before Tax |
112.484 |
32.920 |
22.915 |
|
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Provision for Taxation |
45.191 |
(2.753) |
28.370 |
|
|
Profit/(Loss) After Tax |
67.293 |
35.673 |
(5.455) |
|
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Earnings in Foreign Currency : |
|
|
|
|
|
|
CIF Value |
653.100 |
2132.040 |
726.500 |
|
Total Earnings |
653.100 |
2132.040 |
726.500 |
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Expenditures : |
|
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Cost of Goods Sold |
3696.810 |
3871.366 |
1247.750 |
|
|
Manufacturing Expenses |
40.047 |
68.587 |
5.917 |
|
|
Personnel Expenses |
18.344 |
22.194 |
4.396 |
|
|
Increase/(Decrease) in Finished Goods |
(69.626) |
(188.794) |
17.185 |
|
|
Financial Charges |
166.055 |
105.128 |
18.925 |
|
|
Depreciation & Amortization |
39.565 |
30.919 |
4.498 |
|
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Other Expenditure |
57.236 |
68.860 |
13.258 |
|
Total Expenditure |
3948.431 |
3978.260 |
1311.929 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.66
|
0.89 |
(0.41) |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.76
|
0.83 |
1.72 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.77
|
0.82 |
1.72 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.18 |
0.19 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78
|
3.12 |
2.58 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.47
|
1.84 |
1.63 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
This form is for |
Creation of
charge |
|
Corporate identity
number (CIN) of the company |
U74899DL1995PTC066690 |
|
Name of the
company |
JMD OILS PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
5/24, Ramesh Nagar, New Delhi – 110 015, India |
|
Type of charge |
v
Immovable
property v
Book Debts v
Movable
property (not being pledge) v
Others |
|
If others,
specify |
Whole of CA, FA,
Plant and machinery and movable properties. |
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Whether
consortium finance is involved |
Yes |
|
Whether joint charge
involved |
Yes |
|
Number of charge
holders |
2 |
|
Particular of
charge holder |
Name : Indian
Overseas Bank Address: A-6,
Rajouri Garden City : New Delhi State : Delhi ISO country code
: IN Pin code : 110027 e-mail ID : ropian@delsco.iob.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Joint deed of
hypothecation , Inter se agreement capital consortium agreement |
|
Date of
instrument Creating the charge |
28.02.2007 |
|
Whether charge created
or modified outside India |
No |
|
Amount secured by
the charge |
Rs. 1007.300
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as per consortium
loan agreements and bank norms Terms of
repayment Repayment as per
loan agreements and bank norms Margin Margin as per
bank norms Extent operation
of the charge The charge
operates as continuing security inter alia, for the due repayment by the
company to the bank to the extent of Rs. 1007.300 millions i.e. Rs. 527.300
millions and Rs. 480.000 millions sanctioned to the company by IOB and United
Bank of India respectively together with interest additional liquidated
damages premia on prepayment costs, charges, expenses and all other moneys
payable by the company to the Bank in terms of the loan agreements and Bank
norms from time to time. Others First charge
ranking pari passu with consortium member banks on assets mentioned in col.
14 is to secure the following credit facilities 1. CC (Stocks and
BD) Rs. 125.000 millions (IOB) and Rs. 370.000 millions (UBI) 3.LG for import
duty component under EPCG Rs. 9.300 millions(IOB) and 4.LG (General ) Rs.
10.000 millions (IOB) and Rs. 10.000 millions (UBI) aggregating to Rs.
1007.300 millions more particularly described in first schedule to joint deed
of hypothecation and working capital consortium agreement dt. 28.02.2007 |
|
Short particulars
of the property charged |
First charge ranking
pari passu with consortium member banks on whole of the current assets,
Immovable and movable properties /assets of the borrower including plant and
machinery, spares, tools and accessories and other movables both present and
future more particularly described in second schedule to joint deed of
hypothecation and working capital consortium agreement dated 28.02.2007
attached. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company |
No |
Form 8
|
Name of the company |
JMD OILS PRIVATE
LIMITED |
|
Presented By |
Indian Overseas
Bank |
|
1) Date and description of instrument creating the change |
Letter of
confirmation (applicable for limited companies) dated 26.02.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 712.140
millions |
|
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 |
Equitable mortgage
by deposit of title deeds of the following factory land and building situated
at Vill. Bhimasar, Taluka Anjar, Distt. Kutch more particularly described in
annexure to F379B letter of confirmation (applicable for limited
companies)dated 26.02.2005 attached: i) Survey no. 362 acres 15-26 gunthas ii) Survey no.
316 acres 6-22 gunthas Survey no. 318 acres 7-22 gunthas, Survey no. 319 acres. 7-09 gunthas Total acres 21-11 gunthas iii) Survey no.
363- acres 12-31 gunthas iv) Survey no.
320 acres 5-00 gunthas v) Survey no. 369 acres 3-06 gunthas vi) Survey no.
361-acres 10-26 gunthas vii) Survey no.
322 acres 9-35 gunthas viii) Survey no.
320 acres 6-00 gunthas ix) Survey no.
390/2 acres 3-14 gunthas x) Survey no.
390/1 acres 8-37 gunthas xi) Survey no.
321- acres 9-17 gunthas xii) Survey no.
323- acres 7-29 gunthas xiii) Survey no.
367 acres 3-21 gunthas xiv) Survey no.
365 – acres 2-21 gunthas xv) Survey no.
317 acres 2-13 gunthas |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on
above properties is to secure various credit facilities sanctioned to the
company aggregating to Rs. 712.140 millions. |
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank,
Rajouri Garden, New Delhi – 110 015, India. |
Trade References
v
Amrit Vanaspati, (Rajpura, Punjab)
v
Gokul Refoil and Solvents, (Gandhidham, Gujarat)
v
Cargill India, (Gujarat)
Trade Terms
v Advani Wilmar Limited
v Agro tech Foods Limited
v Ajanta Soya Limited
v Chima Boilmer Limited
v De Smat Chem Food
v Gujarat Ambuja Export Limited
v Kirbi Fabrication Private Limited
v Krishan Puriya Udyog
v Mech Tech Engg
v Parmeshwari Oils Mills
v Premier Industeries (India) Limited
v Sachdeva Agro Chemicals Private Limited
v Ruchi Soya Industries
v Thermotech Engg System
v West Falia
v Pavansoot Traders
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 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] 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 :
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 42.56 |
|
UK Pound |
1 |
Rs. 84.32 |
|
Euro |
1 |
Rs. 67.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|