MIRA
INFORM REPORT
|
Report Date : |
29.11.2008 |
IDENTIFICATION DETAILS
|
Name : |
EOFFICE PLANET INDIA PRIVATE LIMITED |
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Registered Office : |
Construction
House, 5 Walchand Hirachand Marg, Ballard Estate |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.05.1999 |
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Com. Reg. No.: |
11-119874 |
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CIN No.: [Company
Identification No.] |
U36991MH1999PTC119874 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUME06075G |
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PAN No.: [Permanent
Account No.] |
AAACE6222F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Marketing of
Computer Hardware and Software |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1500000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a engaged
in marketing of Computer Hardware and Software. The company performance is improving and
has wiped out previous losses substantially. Trade relations are fair.
Payments are reported as slow but correct. However, the company
can be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Construction
House, 5 Walchand Hirachand Marg, Ballard Estate |
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Tel. No.: |
91-22-3020 7300 |
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Fax No.: |
91-22-3027 7300 |
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E-Mail : |
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Website : |
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Corporate Office : |
D Wing, Shree Sound Studio Compound, |
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Tel. No.: |
91-22-30447300 |
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Fax No.: |
91-22-30447323 |
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Mobile No,: |
91-9987068196 |
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E-Mail : |
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Branches : |
Chennai Kolkata
Pune |
DIRECTORS
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Name : |
Mr. Shyam Pramod Barilits-Gupta |
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Designation : |
Whole time Director |
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Address : |
Villar Ville, 16, Ramchandani Marg, Colaba, Mumbai-400006, |
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Date of Birth/Age : |
14.10.1967 |
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Date of Appointment : |
14.05.1999 |
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Name : |
Mrs. Maria Michaela Barilits |
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Designation : |
Director |
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Address : |
Villar Ville, 16, Ramchandani Marg, Colaba, Mumbai-400006, |
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Date of Birth/Age : |
19.07.1964 |
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Date of Appointment : |
16.06.2000 |
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Name : |
Mr. Michael Tojner |
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Designation : |
Director |
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Address : |
Filgradergasse 15, 1060 |
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Date of Birth/Age : |
31.03.1966 |
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Date of Appointment : |
03.06.2004 |
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Name : |
Mr. Suresh Rajpal |
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Designation : |
Director |
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Address : |
F-100, |
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Date of Birth/Age : |
17.08.1943 |
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Date of Appointment : |
13.03.2000 |
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Name : |
Mr. Bharat Kewalramani |
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Designation : |
Director |
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Address : |
252, |
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Date of Birth/Age : |
03.03.1960 |
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Date of Appointment : |
30.08.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2007
|
Names of Shareholders |
|
No. of Shares |
|
Shyam Pramode Barilits Gupta |
|
197303 |
|
Prashant Hingorani |
|
8800 |
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Fardeeb Khan |
|
2850 |
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Gangadhar Vakode |
|
285 |
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Mohan Kumar |
|
285 |
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Ritu Khaitan |
|
285 |
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Suparna Mehra |
|
314 |
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Maria Barilits |
|
197303 |
|
Suresh Rajpal |
|
6830 |
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Arayana Kewalramani |
|
1568 |
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Deepika Roy |
|
1568 |
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Alexander Strobl |
|
1100 |
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Andreas Strobl |
|
1100 |
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Priyanka Ghatalia |
|
1100 |
|
ICICI Eco- Net Limited |
|
81928 |
|
|
|
134273 |
|
|
|
70441 |
|
Antheria Holding AG |
|
35300 |
|
Paul Barilits |
|
36777 |
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Mahesh Venkataraman |
|
1100 |
|
Jayesh Mehta |
|
550 |
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Rajiv Gatalia |
|
10017 |
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Maya Ghatalia |
|
1100 |
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Constantin Shivraj Barilits Gupta |
|
10001 |
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Marie Ayesha Barilits Gupta |
|
10001 |
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Paul Barilits |
|
904459 |
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Total |
|
1716638 |
As on 31.03.2006
|
List of Allottees |
|
No. of Shares Allotted |
|
Shyam Pramode Barilits Gupta |
|
500 |
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Maria Michela Barilits Gupta |
|
500 |
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Total |
|
1000 |
Equity Share Breakup (Percentage of total Equity)
As on 30.09.2007
|
Category |
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Percentage |
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Venture Capital |
|
11.00 |
|
Foreign holdings (Foreign institutional investor(s), Foreign companie(s)
Foreign financial institution(s), Non-resident Indian(s) or Overseas
corporate bodies or others |
|
30.00 |
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Directors or relatives of directors |
|
56.00 |
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Other top Fifty (50) shareholders (other than listed above) |
|
3.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Marketing of
Computer Hardware and Software |
GENERAL INFORMATION
|
Customers : |
Financials
Services ·
ABN-AMRO ·
American Express ·
Bank of ·
BNP Paribas ·
Calyon Bank ·
Citigroup ·
Credit Suisse ·
Deloitte ·
Fidelity Investments ·
Franklin Templeton ·
·
GE Money ·
HSBC ·
ING Vysya ·
JP Morgan Chase ·
Kotak Mahindra ·
Max ·
Metlife ·
Morgan Stanley ·
Reuters ·
TATA AIG ·
Thomson ·
Wells Technology ·
Agilent ·
Conexant ·
Freescale ·
GE ITC ·
Honeywell ·
IBM ·
Intel ·
Lenovo ·
NCR ·
Siemens ·
Software/ ITeS ·
Accenture ·
Amdocs ·
Aricent ·
Capgemini ·
Cognizant ·
Convergys ·
Genpact ·
Google ·
Infosys ·
Larsen & Toubro ·
Logica CMG ·
Microsoft ·
MphasiS ·
NIIT Technologies ·
Oracle ·
SAP ·
TCS ·
Wipro Industrial/ FMCG ·
Bayer ·
Ciba ·
Colgate ·
ITC ·
John Deere ·
Kodak ·
Mitsubishi ·
Nestle ·
TATA ·
Tyco ·
Whirlpool Telecom ·
Alcatel-Lucent ·
Bharti Airtel ·
Hutchison ·
Juniper ·
Motorola ·
Nokia ·
Qualcomm ·
Verizon ·
Vodafone ·
VSNL Services ·
Bates ·
Federal Express ·
Grey Worldwide ·
Group M ·
Hewitt ·
ICFAI ·
IMRB ·
IndiGo ·
ISB ·
Jet Airways ·
Johnson Controls ·
Jones Lang LaSalle ·
JWT ·
Maersk ·
Ogilvy & Mather ·
Sodexho ·
WPP Group |
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No. of Employees : |
80 |
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Bankers : |
·
Citi Bank N.A, Citibusiness, Citibank Centre, 2nd
Floor, Bandra Kurla Complex, Bandra East, Mumbai-400051, ·
DBS
Bank Limited, 221, Fort House, 221, Dr. D N Road, Fort, Mumbai-400001,
Maharashtra, India ·
Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajeev and Rajesh Chartered Accountant |
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Address : |
Block 34, D, 2nd Floor, Phonix Mill Compound, S.B. Marg, Lower Parel (West), Mumbai-400013, |
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Tel. No.: |
91-22-24910601 |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
|
2000000 |
Preference Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
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|
Total |
|
Rs. 40.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
812464 |
Equity Shares |
Rs. 10/-
each |
Rs. 8.125
Millions |
|
904459 |
Preference shares |
Rs. 10/-
each |
Rs. 9.045
Millions |
|
|
Total |
|
Rs. 17.169 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
17.169 |
15.087 |
10.192 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
383.902 |
270.094 |
190.561 |
|
|
4] (Accumulated Losses) |
[84.945] |
[90.055] |
[99.680] |
|
|
NETWORTH |
316.126 |
195.126 |
101.073 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
148.482 |
69.962 |
39.905 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
148.482 |
69.962 |
39.905 |
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DEFERRED TAX LIABILITIES |
10.147 |
6.030 |
3.726 |
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TOTAL |
474.755 |
271.118 |
144.704 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
152.915 |
91.855 |
44.644 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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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 |
122.382
|
74.635 |
36.627 |
|
|
Sundry Debtors |
149.347
|
76.957 |
67.424 |
|
|
Cash & Bank Balances |
36.815
|
59.456 |
15.935 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
45.486
|
15.647 |
5.607 |
|
Total
Current Assets |
354.030
|
226.695 |
125.593 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
26.781
|
42.534 |
22.290 |
|
|
Provisions |
5.442
|
4.931 |
3.290 |
|
Total
Current Liabilities |
32.223
|
47.465 |
25.580 |
|
|
Net Current Assets |
321.807
|
179.230 |
100.013 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.033 |
0.033 |
0.047 |
|
|
|
|
|
|
|
|
TOTAL |
474.755 |
271.118 |
144.704 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
473.605 |
320.063 |
253.256 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
473.605 |
320.063 |
253.256 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
11.605 |
14.601 |
8.928 |
|
|
Provision for Taxation |
6.494 |
4.099 |
1.652 |
|
|
Profit/(Loss) After Tax |
5.111 |
10.502 |
7.276 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
10.954 |
5.875 |
3.357 |
|
|
Other Expenditure |
451.046 |
299.587 |
240.971 |
|
Total Expenditure |
462.000 |
305.462 |
244.328 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.08
|
3.28 |
2.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.45
|
4.56 |
3.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.29
|
4.58 |
5.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.60 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.99
|
4.78 |
4.91 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 41/
Fixed Assets
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Electrical Installation
·
Computer
·
Computer Software
·
Motor Vehicles
·
Air Conditioner
·
Sealing Machine
·
Fax Machine
·
Generator act
·
EPABX
·
Telephone, Cell, Inst
·
Printers
·
Air Cooler
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U36991MH1999PTC119874 |
|
Name of the
company |
EOFFICE PLANET INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Construction House,
5 Walchand Hirachand Marg, Ballard Estate |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
DBS Bank Limited,
221, Fort House, 221, Dr. D N Road, Fort, Mumbai-400001, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Hypothecation |
|
Date of
instrument Creating the charge |
12.06.2007 |
|
Amount secured by
the charge |
Rs. 30.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Presently 12%
subject to charge from time to time as per agreement Terms of
Repayment Payable on Demand Margin 25% against the
Hypothecated goods 25% against the
said debts Extent and
Operation of the charge Pari passu charge
by way of hypothecation on book, stocks and other movable hypothecated assets
in favour of DBS Bank Limited |
|
Short particulars
of the property charged |
1. Goods being finished goods, semi-finished
goods, stock of raw materials, work in process and other movables assets
located at various factories / warehouses/ godowns of the borrower interalia
and whether in transit or lying at any other place. 2. The borrowers’ present and future book debts,
outstanding monies receivables, claims, bills, contracts, engagements,
securities, investments, rights and assets. |
|
Name of the company |
EOFFICEPLANET INDIA PRIVATE LIMITED |
|
Presented By |
Bank of |
|
1) Date and description of instrument creating the change |
Dated 19.09.2002 Agreement of Hypothecation of Goods and Assets |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 20.000 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 |
All the present and future goods, book debts and all other movable
assets of the borrower including documents of title to the goods, outstanding
money, receivable by way of cash assistance and cash incentive scheme or any
other scheme claims including claims by way of refund of customs duties under
the duty drawback credit scheme or any other scheme, bills, invoice
documents, contracts, insurance policies, guarantees, engagements,
securities, investments and rights and rights and the present machinery
listed in the schedule to the agreement and all future machinery belonging to
or in the possession or under the control of the borrower wherever lying
stored and kept and whether in possession of the borrower or of the bank or
of any third party whether in India or else where throughout the world
including all such goods, other movable assets as may be in course of
shipment transit or delivery. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest shall be charged on the outstanding in the accounts opened in
respect of the aforesaid credit facilities at such rate as may be determined
by the Bank from time to time at the Banks sole discretion. The Borrower will at all times maintain a sufficient quality and
market value of the said goods and assets to provide the margins of security
required by the Bank from time to time. This agreement shall operate as a continuing security for all moneys
indebt ness and liabil8ities aforesaid notwithstanding the existence of a
credit balance in the account or accounts of time or any partial payment or
flections of accounts. |
|
5) Name and Address and description of the person entitled to the
charge. |
Bank of Jolly Maker Chamber Nariman Point Mumbai – 400021 |
|
6) Date and brief description
of instrument modifying the charge |
N A |
|
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. |
N A |
AS PER WEBSITE:
Overview
eOfficePlanet is
Leadership in
eProcurement: The Company introduced eProcurement to the Indian
office supplies industry in 2000 and has continued to maintain its leadership
position since. The web site offers one of the most sophisticated levels of
eProcurement functionality available in
Cost-Effective
Value Proposition: The supply model is designed to reduce the large
corporate customer’s aggregate costs, including internal operating costs
incurred in managing the procurement process, through a comprehensive national
distribution and logistics network, as well as information systems that
integrate the complete product and service offering and procurement management
and consulting solutions.
Only National
Fulfillment Solution: Since 2001 eOP continues to be the only
company in
Comprehensive
Product Catalog: The Company has the most comprehensive catalog of
business consumables in India including basic office stationery, cleaning &
housekeeping supplies, copy paper, electrical supplies, facility supplies,
gifts, ink & toner, media & drives, pantry supplies, printed products
and technology supplies.
Strong Client
Roster: ABN-AMRO, Accenture, Agilent Technologies, Alcatel-Lucent,
Amdocs, American Express, Aricent, Bank of America, Bates, Bayer, Bharti
Airtel, BNP Paribas, Calyon Bank, Capgemini, Ciba, Citigroup, Cognizant,
Colgate, Conexant, Convergys, Credit Suisse, Deloitte, Federal Express,
Fidelity Investments, Franklin Templeton, Freescale Semiconductors, Fullerton,
GE ITC, GE Money, Genpact, Google, Grey Worldwide, Group M, Hewitt, Honeywell,
HSBC, Hutchison Whampoa, IBM, ICFAI, IMRB, Indian School of Business, IndiGo,
Infosys, ING Vysya, Intel, ITC, Jet Airways, John Deere, Johnson Controls,
Jones Lang LaSalle, JP Morgan Chase, Juniper Networks, JWT, Kodak, Kotak
Mahindra, Larsen & Toubro, Lenovo, Logica CMG, Maersk, Max New York Life,
Metlife, Microsoft, Mitsubishi, Morgan Stanley, Motorola, MphasiS, NCR, Nestle,
NIIT Technologies, Nokia, Ogilvy & Mather, Oracle, Qualcomm, Reuters, SAP,
Siemens, Sodexho, TATA, TATA AIG, TCS, Texas Instruments, Thomson, Tyco,
Verizon, Vodafone, VSNL, Wells Fargo, Whirlpool, Wipro, WPP Group.
Own
Brand
The Company introduced its own branded products of office
supplies under the eOfficePlanet label in order to provide customers for the
first time in
·
The benefits of own brand products
include:
·
Professionally designed products
·
Products manufactured to international
specifications and quality standards
·
Consistent quality and uniform design
across
·
Better value, superior quality products
at current catalog prices
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.49.84 |
|
|
1 |
Rs.76.81 |
|
Euro |
1 |
Rs.64.38 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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 |
|