MIRA
INFORM REPORT
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Report Date : |
14.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
AQUA LOGISTICS PRIVATE LIMITED |
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Registered Office : |
Trade star, 5th Floor, B wing, Andheri Kurla Road, Andheri (East),
Mumbai – 400059, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.09.1999 |
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Com. Reg. No.: |
11-121803 |
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CIN No.: [Company
Identification No.] |
U63090MH1999PTC121803 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA21253B |
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PAN No.: [Permanent
Account No.] |
AADCA0603M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provider of Logistics Solutions |
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 400000 |
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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 : |
Mr. Raghunath of the company assured to provide details and if he provides,
we shall supplement the same. Subject is a well established company having satisfactory track. Trade
relations are fair. Payment are usually correct and as per commitments.
Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered/ Corporate Office : |
Trade Star, 5th Floor, B wing, Andheri Kurla Road, Andheri
(East), Mumbai – 400059, Maharashtra, India |
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Tel. No.: |
91-22-28223557/ 28353976 |
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Fax No.: |
91-22-28353876 |
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E-Mail : |
info@aqualogistics.com Satish.ambre@aqualogistics.com tharanath@aqualogistic.com |
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Website : |
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Regional Office : |
Western Regional
Office A5/120 Ground Floor, Lokbharti Complex,Marol Maroshi Road,
Andheri(East), Mumbai – 400059, Maharashtra, India Tel: 91-22-67770200 Fax: 91-22-28388479 Email : errol@aqualogistics.com Northern
Regional Office White House RZ-B-1/A , Plot No 48, Masoodpur, Vasant Kunj, New
Delhi- 110070, India Tel: 91-11-26125563/
26125565 Fax: 91-11-26125561 Email : rajeev.chachra@aqualogistics.com Southern
Regional Office 9B Ega Trade Centre, 809 P.H. Road
Chennai – 400059, Tamilnadu India Fax: 91-44-42857994 Email : ranjith.b@aqualogistics.com
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Branch Office : |
Baroda/Ahmedabad
Branch 416, Race Course Tower,Parshabhai Park, Nr. Natubhai Circle. Racecourse
Baroda/Ahmedabad -390 007, Gujarat
India Tel: 91-265-3206539 Fax: 91-265-3206529 Email : kirti.bhosle@aqualogistics.com Pune Branch B-14/3 Miranagar Society, Koregaon Park Pune - 411001 Maharashtra India Fax: 91-20-26137163 Email :
ambesh.mehna@aqualogistics.com Banglore Branch No.172, 5th Main, 9th Cross, Indiranagar 1st Stage, Bangalore - 560
038, India Tel: 91-80-4245 1400 Fax: 91-80-4245 1415 Email : gopal.rajesh@aqualogistics.com Pondicherry
Branch No.7,1st Floor, Salai Vinayagar Koil street, Subramaniachari Complex,
(45 Feet Road - Anna Salai Junction) Pondicherry -605001 Tamil
Nadu India Tel: 91-413-430 4150 Fax: 91-413-430 4160 Email : chandhra.bose@aqualogistics.com |
DIRECTORS
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Name : |
Mr. Rajesh Uchil |
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Designation : |
Chairman and Managing Director |
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Address : |
1001-1002 Indra Darshan Building, 12 Shree Swami Samarth Nagar,
Andheri(west), Mumbai – 400053, India |
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Date of Birth/Age : |
05.02.1966 |
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Date of Appointment : |
20.09.1999 |
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Name : |
Mr. Harish
Uchil |
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Designation : |
Managing Director and Chief Executive Officer |
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Address : |
901-902 Indra Darshan Building, 12 Shree Swami Samarth Nagar,
Andheri(west), Mumbai – 400053, India |
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Date of Birth/Age : |
11.08.1969 |
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Date of Appointment : |
20.09.1999 |
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Name : |
Mr. Gopalkrishna G. Uchil |
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Designation : |
Director |
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Address : |
901-902 Indra Darshan Building, 12 Shree Swami Samarth Nagar,
Andheri(west), Mumbai – 400053, India |
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Date of Birth/Age : |
18.05.1937 |
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Date of Appointment : |
20.09.1999 |
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Name : |
Mr. Deven S. Verma |
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Designation : |
Director |
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Address : |
501 Vastu Pooja, Near Old Pump House, Rajmata Jijabhai Road, Andheri
(East), Mumbai – 400093, Maharashtra, India |
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Date of Birth/Age : |
23.10.1969 |
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Date of Appointment : |
20.09.1999 |
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Name : |
Mr. Sujay M. Suvarna |
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Designation : |
Director |
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Address : |
Beytul Aman, Cardinal, Gracious Road, Andheri (East), Mumbai – 400059,
Maharashtra, India |
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Date of Birth/Age : |
07.07.1970 |
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Date of Appointment : |
02.09.2006 |
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Other Directorship : |
Director U63090MH2006PTC162702
Director U67200MH2003PTC143435 |
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Name : |
Mr. Sayad M. Sabir |
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Designation : |
Directors |
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Address : |
805, Indra Darshan Building, 12 Shree Swami Samarth Nagar,
Andheri(west), Mumbai – 400053, India |
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Date of Birth/Age : |
14.07.1960 |
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Date of Appointment : |
02.09.2006 |
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Other Directorship : |
Director U63090MH2006PTC162702 |
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Name : |
Mr. Shabbir Sayad |
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Designation : |
Vice-Chairman |
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Name : |
Mr. Narendra Goswami |
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Designation : |
Managing Director, Aqua Specialized Transport |
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Name : |
Mr. Anil Rajkotia |
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Designation : |
Director, Finance |
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Name : |
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Designation : |
Director, Human Resources |
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Name : |
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Designation : |
Director - Sales |
KEY EXECUTIVES
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Name : |
Mr. Hari Varma |
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Designation : |
Chief Operating Officer |
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Name : |
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Designation : |
Chief Operating Officer, Harapa |
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Name : |
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Designation : |
Vice-President - Corporate Communications |
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Name : |
Mr. Ram Mantravadi |
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Designation : |
Chief Executive Officer, Aqua Management Consulting Group
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Name : |
Mr. Rahul S Dogar |
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Designation : |
Head – International Logistics |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2007)
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Names of Shareholders |
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No of Shares |
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1379900 |
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Gopalkrishna G. Uchil |
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1380000 |
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1380000 |
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Deven S. Verma |
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25000 |
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Trikon Electronics Private Limited |
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200000 |
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Sr. Alka Mandke |
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100 |
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Sayad M Sabir |
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1635000 |
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Total |
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6000000 |
(As on 05.02.2007)
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Names of Allotted |
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No of Shares
Allotted |
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1503700 |
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Gopalkrishna G. Uchil |
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1403700 |
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1453700 |
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Total |
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4361100 |
(As on 31.03.2007)
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Category |
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Percentage |
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Bodies Corporate |
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0.34 |
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Directors or relatives of directors |
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99.66 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of Logistics Solutions |
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Exports : |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Ceejay House, Shivsagar Estate, Dr. A Beasant Road, Worli, Mumbai – 400018,
Maharashtra, India
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anil Nair and Asscoaites Chartered Accountant |
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Address : |
Casablanca, 6 Casa Major Road, Egmore, Chennai – 600008, Tamilnadu,
India |
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Name : |
K K Gada and Company Chartared Accountant |
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Address : |
411, Marathon Max Mulund Goregaon Link Road, Mulund East, Mumbai –
400080, Maharashtra, India |
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Associates/Subsidiaries : |
U63090MH2006PTC162702
U67200MH2003PTC143435 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
60.000 |
15.000 |
15.000 |
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2] Share Application Money |
0.000 |
37.611 |
0.000 |
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3] Reserves & Surplus |
26.888 |
3.875 |
0.810 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
86.888 |
56.486 |
15.810 |
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LOAN FUNDS |
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1] Secured Loans |
73.426 |
6.763 |
5.142 |
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2] Unsecured Loans |
16.422 |
17.752 |
4.017 |
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TOTAL BORROWING |
89.848 |
24.515 |
9.159 |
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DEFERRED TAX LIABILITIES |
1.121 |
0.449 |
0.040 |
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TOTAL |
177.857 |
81.450 |
25.009 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
54.722 |
50.324 |
8.617 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.138 |
0.138 |
0.088 |
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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 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
136.696
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32.002 |
11.307 |
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Cash & Bank Balances |
5.452
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2.850 |
2.328 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
49.166
|
4.532 |
5.293 |
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Total
Current Assets |
191.314
|
39.384 |
18.928 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
58.630
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17.748 |
2.264 |
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Provisions |
9.687
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0.947 |
0.360 |
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Total
Current Liabilities |
68.317
|
18.695 |
2.624 |
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Net Current Assets |
122.997
|
20.689 |
16.304 |
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MISCELLANEOUS EXPENSES |
0.000 |
10.299 |
0.000 |
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TOTAL |
177.857 |
81.450 |
25.009 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
430.611 |
95.683 |
59.691 |
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Other Income |
0.000 |
0.038 |
0.291 |
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Total Income |
430.611 |
95.721 |
59.982 |
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Profit/(Loss) Before Tax |
39.452 |
4.089 |
0.898 |
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Provision for Taxation |
10.307 |
1.024 |
0.343 |
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Profit/(Loss) After Tax |
29.145 |
3.065 |
0.555 |
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Expenditures : |
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Operating Cost |
0.000 |
78.292 |
48.374 |
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Personnel Cost |
0.000 |
5.850 |
2.934 |
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Administrative Expenses |
0.000 |
6.310 |
6.559 |
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Interest |
0.000 |
0.516 |
0.262 |
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Depreciation & Amortization |
0.000 |
0.664 |
0.955 |
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Other Expenditure |
391.159 |
0.000 |
0.000 |
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Total Expenditure |
391.159 |
91.632 |
59.084 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
6.77
|
3.20 |
0.93 |
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Net Profit Margin (PBT/Sales) |
(%) |
9.16
|
4.27 |
1.50 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.04
|
4.56 |
3.26 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.07 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.82
|
0.76 |
0.75 |
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Current Ratio (Current Asset/Current Liability) |
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2.80
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2.11 |
7.21 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number of the company |
U63090MH1999PTC121803 |
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Name of the
company |
AQUA LOGISTICS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Trade star, 5th Floor, B wing, Andheri Kurla Road, Andheri (East),
Mumbai – 400059, Maharashtra, India |
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This form is for |
Modification of charge |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Barclays Bank PLC Ceejay House, Shivsagar Estate, Dr. A Beasant Road, Worli, Mumbai – 400018,
Maharashtra, India |
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Nature of
instrument creating charge |
Memorandum of
Entry |
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Date of
instrument Creating the charge |
03.05.2008 |
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Amount secured by
the charge |
Rs.120.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: As may be decided
between the borrower and the Bank from time to time. Terms of
repayment: As may be specified
by the Bank from time to time. Margin: The borrower
shall at all time during the continuance of this security keep and maintain
such margin of security in favour of the bank as may time to time be notified
by the Bank. Extent and
operation of the charge: First exclusive
charge by way of mortgage of immovable property of the borrower and Mr.
Harish Unchil in favour of Barclays Bank, to secure the following granted by
the Bank to the borrower. Over Draft/ WCDL
Facility : INR 120 Millions |
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Particulars of
the property charged |
Office premises
situated at No.3, 5th Floor, B wing Trade star Building, Andheri –
Kurla Road, Marol, Andheri (East), Mumbai – 400059, Owned by Aqua Logistics
Private limited (Borrower and Mortgage 1) Residential Flat No.901
and 902, 9th Floor, Building No.12, INdra Darshan, Sector II, Off
Link Road, Oshiwara, Andheri (West),
Mumbai – 400053 Owned by Harish Uchil (Mortgagor – 2) |
|
Particulars of
the present modification |
The Bank had
granted facilities of Rs.120.000 Millions to borrower which was secured by
hypothecation over assets vide deed of hypothecation dated 17.03.2008. Now
additional security is offered by way of mortagge opf immovable property of
the company and Mr. Harish Unchil and said charge is modified accordingly. |
|
Name of the company |
AQUA LOGISTICS PRIVATE LIMITED |
|
Presented By |
Abhyudaya Co-op Bank Limited Administrative Office, Parel Village, Mumbai – 400012 |
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1) Date and description of instrument creating the change |
Agreement of
Hypothecation of Goods and Book-debts to secure Cash Credit Facility dated
21.05.2001 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.500 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 |
All present and
future, Book Debts, due to the borrower
|
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4) Gist of the terms and conditions and extent and operation of the charge. |
To secure cash
Credit Facility granted by the Bank to the Borrower – Rate of
Interests: 15.5% p.a. Margin: 30% |
|
5) Name and Address and description of the person entitled to the charge. |
Abhyudaya
Co-operative Bank Limited Administrative Office,
Parel Village, Mumbai – 400012, India |
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6) Date and brief description of instrument modifying the charge |
Agreement of
Hypothecation of Goods and Book-debts to secure Cash Credit Facility dated
20.10.2003 |
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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. |
By this
modification, additional cash Credit facility Rs.1.000 Millions has been
granted by the Bank to the Borrower. And also the enhancement facility has
been secured by all, present and future, Goods Stock and Misc Item and book –
Debts, of and /or due to the borrower. Hence, the charge has been enhanced
from Rs.2.500 Millions to Rs.3.500 Millions The Rate of Interests
has been modified to 13% p.a. and also Margin has been modified to 40% Therefore, the
overall now stands at Rs.3.500 Millions |
Fixed Assets:
- Office
Equipment
- Computers
- Office
Premises
- Vehicles
- CHA Licence
Website details:
Profile:
Established
in 1989 and headquartered in Mumbai, Subject is India’s foremost global
logistics and supply chain partner, delivering excellence across industries,
through an integration of empowered people, processes and technology. Company
they enable their client’s businesses by aligning the strategic and the
operational perspectives.
Company
understands that global supply chain management involves planning, implementing
and controlling a series of complex tasks performed by persons of different
nationalities and cultures and with varying language capabilities. They
integrate these multinational capabilities by combining years of expertise with
the latest in technology.
They
understand that synchronization of time, people and place are crucial for
supply chain optimization. To ensure this, they have been gradually building
upon the foundation of varied experienced and highly skilled specialists, who
focus on operating models that integrate functions of the clients’
organization, their suppliers and customers across the extended supply chain.
The
operations, consulting, and client development teams deliver logistics,
operations strategy, sourcing and procurement planning, fulfillment operations,
customer service and after sales support.
Integrating
technology into their expertise, Aqua-Enable, software that enables
collaboration between internal and external stakeholders involved in the entire
supply chain, provides visibility on updated status and any gaps in terms of
documentation or activities.
The portfolio
speaks of their experience, expertise and evolution. Company has incorporated
supply chain consulting and outsourcing work for various verticals including
Telecom, Power, Retail, Pharmaceutical, Engineering, Infrastructure, Sports,
Events, Consumer Durables, and the Oil & Gas industry.
Terms and Conditions:
This is a free, interactive, online
service operated by subject on the World Wide Web of the Internet, consisting
of logistics information services, content, and general information. The terms
of this service are agreed by each person hereinafter called "The
subscriber" who establishes or accesses a connection for access to and use
the site at the addresses www.aqua.co.in or www.aqualogistics.co.in or
www.aqualogistics.com.
The
subscriber agrees that use of this site is at the subscriber's risk. Neither
subject nor any respective employees, agents, third party content providers or
advertisers warrant that this site will be uninterrupted and error free. They
do not make any warranty as to the results that may be obtained from the use of
this site, or as to the accuracy, reliability or content of any information,
service, or merchandise provided through the company site.
The
subscriber agrees that the information in these web pages shall only be regarded
as indicative. Every effort has been made by the management of company to
ensure that the information provided here is accurate and up to date and the
management is exercising all due and necessary care and attention in collecting
and displaying the data. In spite of this, if any omission, commission,
inaccuracy or errors occur with regard to the data contained on the website,
the management of company will not be held responsible or liable.
This
site is provided on an "as is" basis without warranties of any kind,
either express or implied. This disclaimer of liability applies to any damages
or injury caused by failure of performance, error, omission, interruption,
deletion, defect, delay in operation or transmission, computer virus,
communication line failure, theft or destruction or unauthorized access to,
alteration of, use of record, whether for breach of contract, negligence, or
under any other cause of action.
The
subscriber specifically acknowledges that company is not liable for the defamatory,
offensive or illegal conduct of other subscribers or third parties and that the
risk of injury from the foregoing rests entirely with the subscriber. In no
event will company or any person or entity involved in the creation, production
or distribution of the site or software, be liable for any damages, including,
without limitation, direct, indirect, incidental, special, consequential or
punitive damages arising out of the use of this site. The subscriber hereby
acknowledges that the provisions of this section shall apply to all content on
this site.
In
addition to the terms set forth above, neither company nor its advertisers,
shall be liable regardless of the cause or duration, for any errors,
inaccuracies, omissions, or other defects in, or untimeliness of information
contained within this site, or for any delay or interruption in the
transmission thereof to the user, or for any claims or losses arising there
from or occasioned thereby.
None of
the foregoing parties shall be liable for any third party claims or losses of
any nature, including, but not limited to, lost profits, punitive or
consequential damages. There are no warranties as to the results or the
information obtained from the use of the information contained in the site.
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 :
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.48.79 |
|
UK Pound |
1 |
Rs.75.41 |
|
Euro |
1 |
Rs.61.48 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|