MIRA
INFORM REPORT
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Report Date : |
1.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
JCR DRILLSOL PRIVATE LIMITED |
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Formerly Known As : |
PALS INDUSTRIES LIMITED |
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Registered Office : |
No. 20- D, 2nd Phase, Peenya Industrial Area, Bangalore- 560 058, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.09.1984 |
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Com. Reg. No.: |
006370 |
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CIN No.: [Company Identification No.] |
U29222KA1984PTC006370 |
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TAN No.: [Tax Deduction & Collection Account No.] |
BLRPO1046D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Trader and Exporter of DTH Button Bits, Hammers, Drill,
Rigs and Spares and Accessories |
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 173085 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having company having satisfactory
track. Directors are reported as
experienced and respectable businessmen.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. Mr.Sudershan
(Accounts Manager) Failed to update with the required information. |
INFORMATION PARTED
BY (General Details)
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Name : |
Mr. Sudarshan Reddy |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9845188136 |
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Date : |
30.09.2008 |
LOCATIONS
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Registered Office/Factory : |
No. 20- B, 2nd
Phase, Peenya Industrial Area, Bangalore- 560 058, Karnataka, India |
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Tel. No.: |
91-80-28390165/
28390287/ 28379144/ 53620795 |
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Mobile No.: |
91-9845188136/
9845066712 |
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Fax No.: |
91-80-28399036/
37 |
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E-Mail : |
gayathri@jcrdrillsol.com |
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Website : |
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Area : |
5000 sq. ft. |
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Location : |
Owned |
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Branches : |
Located At: v
Indore,
Madhya Pradesh, India v
Bhilwara,
Rajasthan, India v
Tiruchengodu,
Tamilnadu, India |
DIRECTORS
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Name : |
Mr. Jaya Chandra Reddy |
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Designation : |
Director |
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Address : |
1324, 7th Main, 11 ‘A’ Cross, Mahalakshmi Puram, Bangalore – 560086,
Karnataka, India |
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Age : |
42 years |
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Qualification : |
B. E.Mechnical |
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Date of Appointment : |
29.04.2003 |
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Name : |
Mrs. Gayatri Reddy |
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Designation : |
Director |
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Address : |
B 1, Gayathri Block, Palace Garden Apartments, Palace Cross Road,
Bangalore – 560020, Karnataka, India |
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Age : |
38 years |
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Qualification : |
Diploma in Computer Science |
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Date of Appointment : |
29.04.2003 |
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Name : |
Mr. Soban Babu Thondapu |
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Designation : |
Director |
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Address : |
1196, 7th Main, 11 ‘B’ Cross, Mahalakshmi Layout, Bangalore – 560086,
Karnataka, India |
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Date of Birth : |
10.08.1963 |
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Date of Appointment : |
29.04.2003 |
KEY EXECUTIVES
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Name : |
Mr. G H Sudarshan Reddy |
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Designation : |
Accounts Manager |
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E-Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2005
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Names of Shareholders |
No. of Shares |
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Mr. N. Jay
Chandra Reddy |
117250 |
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Mrs. N. Gayatri
Reddy |
17940 |
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Mr. T. Sobhan
Babu |
963 |
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Mr. N. Prabhakar
Reddy |
10466 |
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Mr. K. Rajagopala
Reddy |
10466 |
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Mr. Madhava N |
562 |
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Ms. Madhavi |
10466 |
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Mr. Vijayalwmar |
6060 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Exporter and Trader in DTH Button Bits, Hammers, Drill, Rigs and Spares and
Accessories (Mining, Construction, Blast, Hole Drilling), etc. |
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Products : |
v
DTH Button
Bits v
Hammers v
JCR Bits v
Hard Rock
Drilling Hammers v
Drill Bits v
Down-The-Hole
Hammers v
Water Drill
Rig Mounting v
Bits and Jet
Drill v
Bits v
Jet Drill v
Drilling
Tools v
Mining v
Exploration
and Drilling Machinery v
Panther
Hammer v
Thunder
Hammer |
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Exports : |
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Products : |
v
Botton Bets v
DTH Hammers v
Waterwell v
Drill rings
and Spares |
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Countries : |
v
Africa v
Srilanka v
Korea v
Australia v
U.S.A v Sweden |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Particulars |
Installed
Capacity |
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-- |
100 Mt |
GENERAL
INFORMATION
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Suppliers : |
v
Eastern
Steel Corporation, Kolkata, West Bengal, India v
Nichani
Enterprises, Bangalore, Karnataka, India v
Goel
Forgings, Mumbai, Maharashtra, India v
Musco,
Mumbai, Maharashtra, India v
Ajaxx
Engineering Private Limited v
Balaji Wines v
Stribeck
(India) Private Limited v
SMT Limited v
Ispact Ghar v
Ankit
Traders v
Eastern
Steel Corporation v
Infocom Net
Work v
Prova B v
Ravindu
Toyota v
Muktha
Controls v
Spar
Engineering v
Innational
Quality v
Steel Centre |
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Customers : |
v
Water
Africa, Nairoli v
R. N. S.
Enterprises, Hubli, West Bengal, India v
Techno India
Construction, Mandya, India v
Ingoz
International v
Shiva
Belgaum v
Radha
Engineering (India) Private Limited v
SMBS
Borewells v
HT
Borewells, Chitradurga v
Krishna
Borewells v
Vinayaka
Hardware v
Balaji
Borewells v
Krishna
Borewells v
Magavi
Borewell v
Indo Africa
Company Limited v
Joissam
(Ghana) Limited v
Rani Fast
Drillers v
RRS
Enterprises v
Suchitra
Sales Corporation v
Universal Rig
Services – Athani v
Vinayaka
Hardwares - Chuttur |
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No. of Employees : |
110 (In Office :
20, In Factory : 90) |
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Bankers : |
v
Union Bank
of India SSI Branch,
Tumkur Road, Bangalore- 560058, Karnataka, India v
Syndicate
Bank, Bangalore v
ABN Amro
Bank |
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Facilities : |
Credit Limit Rs.
14.000 millions Secured Loans (As on 31.03.2006) : (Rs. In millions)
Unsecured Loans :
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G. Shantaram and
Associates Chartered
Accountants, |
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Address : |
No. 211, Opposite
BWSSB Office, 50th Cross, III Block, Rajajinagar, Bangalore-
560010, Karnataka, India |
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Tel. No.: |
91-80-23304258 |
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Mr.Shasidri Chartered
Accountants. |
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91-22268043 |
CAPITAL STRUCTURE
Authorized Capital :
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No. of Shares |
Type |
Value |
Amount |
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175000 |
Equity Shares |
Rs. 100/-
each |
Rs. 17.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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172648 |
Equity Shares |
Rs. 100/- each |
Rs. 17.265 millions |
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 |
17.265 |
17.265 |
17.265 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
14.627 |
14.627 |
14.627 |
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4] (Accumulated Losses) |
2.725 |
(11.896) |
(3.516) |
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NETWORTH |
34.617 |
19.996 |
28.376 |
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LOAN FUNDS |
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1] Secured Loans |
11.574 |
27.915 |
31.167 |
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2] Unsecured Loans |
2.471 |
5.118 |
4.809 |
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TOTAL BORROWING |
14.045 |
33.033 |
35.976 |
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DEFERRED TAX LIABILITIES |
17.205 |
0.000 |
0.000 |
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TOTAL |
65.867 |
53.029 |
64.352 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.111 |
22.488 |
23.911 |
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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 |
30.800 |
32.335 |
41.041 |
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Sundry Debtors |
25.035 |
12.494 |
8.589 |
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Cash & Bank Balances |
0.202 |
0.164 |
0.219 |
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Other Current Assets |
2.244 |
0.000 |
0.000 |
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Loans & Advances |
1.929 |
4.138 |
8.171 |
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Total
Current Assets |
60.210 |
49.131 |
58.020 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
16.404 |
18.590 |
17.579 |
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Provisions |
0.050 |
0.000 |
0.000 |
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Total
Current Liabilities |
16.454 |
18.590 |
17.579 |
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Net Current Assets |
43.756 |
30.541 |
40.441 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
65.867 |
53.029 |
64.352 |
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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 |
103.693 |
37.937 |
13.345 |
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Other Income |
0.446 |
19.915 |
0.001 |
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Total Income |
135.370 |
37.957 |
13.345 |
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Profit/(Loss) Before Tax |
14.467 |
(8.225) |
(1.140) |
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Provision for Taxation |
0.000 |
(0.155) |
0.000 |
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Profit/(Loss) After Tax |
14.467 |
(8.380) |
(1.140) |
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Expenditures : |
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Materials Consumed |
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25.421 |
2.790 |
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Operational Expenses |
NA |
7.909 |
4.279 |
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Administrative Expenses |
NA |
2.024 |
1.102 |
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Employees Cost |
NA |
1.980 |
1.372 |
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Interest and Financial Charges |
NA |
4.149 |
2.181 |
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Selling and Distribution Expenses |
NA |
1.395 |
0.238 |
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Depreciation s |
|
3.303 |
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Purchases |
67.093 |
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Direct Expenses |
10.130 |
0.000 |
0.000 |
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Indirect Expenses |
10.913 |
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Other Expenditure |
32.767 |
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Total Expenditure |
120.903 |
46.182 |
14.485 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
10.69 |
(22.08)
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(8.54) |
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Net Profit Margin (PBT/Sales) |
(%) |
13.95 |
(21.67)
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(8.54) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.57 |
(11.47)
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(1.39) |
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Return on Investment (ROI) (PBT/Networth) |
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0.41 |
(0.41)
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(0.04) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.88 |
2.58
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1.89 |
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Current Ratio (Current Asset/Current Liability) |
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3.66 |
2.64
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3.30 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
The company was
incorporated as “Pals Food and Beverages Private Limited” on 14th
September, 1984. Subject is that the word “Private” deleted from w.e.f. 25th
February, 1988 and the name was changed as “Pal Industries Limited” w.e.f. 6th
February, 1995.
Again the name was
changed to the present w.e.f. 9th December, 2004.
PROFILE
The company was
established in 1990 to meet the growing demand and requirements of Water Well
Drilling Industry. In the beginning, the company started with manufacturing and
exporting of DTH Bits and Hammers. As their sales grew, the demand for the
consistent quality in Heat Treatment, CNC Machining and Testing were very
essential for overall product quality. The company is committed to a continuous
development program for product improvement.
JCR Bits and
Hammers are products of extensive field experience, sophisticated design,
stringent quality control and state-of-the-art manufacturing technology.
Specifications appearance and dimensions are subject to change in order to
stay, in accordance with the market requirements. The company CNC Machining was
set up in 1995 not only to fulfill the needs of their requirements but also do
business in others in various applications like Automobile, Engineering,
Drilling and Mining Components. Heat treat has been made and a modern facility
exist in Peenya Plant.
The company supply
to wide sectors such as Oil Well, Water Well, Gas, Geological, Mining and
Construction Drilling Industry with high quality Tricone Rock Bits and other
Rotery Drilling Tools. The company has been engaged in manufacturing and
exporting a comprehensive range of Hard Rock Drilling Hammers and Drill Bits
used in mining, quarrying, water well drilling, civil engineering and
exploration sectors of the Drilling Industry Worldwide.
DTH (Down-The-Hole)
Hammers offers enhanced performance, ensuring that any drilling project
undertaken is completed in a fraction of the time. The Drill Bits, company
offer are manufactured from high quality, wear resistant steel and are
carburized for efficient longevity.
The company took a
major decision in backward integration and invested in a CNC Machining, Heat
Treatment Plant and Laboratory. The Company also rendered services to company’s
who are in search of quality heat treaters. At present the company range of DTH
Bits and Hammers are supplied to African Countries and Sri Lanka.
The company
quality, timely delivery and improved products, make them important and
renowned among the industry globally.
Subject is a
manufacturing and Trading Industry offering a wide array of solution customized
for a range of Drilling activities from water well drilling right through
mining and construction, JCR straddles the entire DTH Industry. It has
excellent performance competence in DTH Hammer, Button Bits, Rigs and Rig
Spares.
Subject’s net work spans 6 states, across the country and 5 countries across 3
continents. Nearly 50 dedicated and skilled Engineers work on the development
of design and quality control. Over 100 skilled employees work on the machines
with 25 staff in the admin front.
They have strategic technology and marketing alliances with top notch drilling companies
in 5 countries that help them provide better services to the end users.
Their unique right in time delivery and on sight service allows to leverages
local competencies and to offer global competitiveness to their customers.
Subject spread over
a land of 3 acres in the industrial suburbs of Bangalore has its in house
ultramodern facilities for every operation to be carried out for manufactures
of DTH Bits Hammers & Rigs.
They also undertake
services and job works for CNC Turning & Milling, Honing, and Induction
Hardening. All Heat treatment process, Shot peening, backed with full fledged
metallurgical lab.
Subject is an ISO
9001-2000 Certified company.
TRADE REFERENCES
v STEEL CENTRE
v GOEL FORCING
Fixed Assets
v
Land
v
Factory
Building
v
Plant &
Machinery
v
Electrical
Fittings
v
Office
Equipments
v
Fire
Extinguisher
v
Wells &
Water Works
v
Computer
v
Furniture and
Fixtures
v
Vehicles
Primary Competitive Advantages
v
In-house
designing and manufacturing.
v
Ultra modern
manufacturing facility and equipments.
v
In-house heat
treatment and induction hardening.
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
JCR DRILLSOL PRIVATE LIMITED |
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Statutory Approvals |
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VAT / TIN Registration |
29470282654 |
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Name of Bank |
Union Bank of India |
Form 8
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Name of the company |
PALS INDUSTRIES PRIVATE
LIMITED |
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Presented
By |
MR. N. Jayachandra Reddy, Director |
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1) Date and description of instrument creating the change |
1. Composite Hypothecation deed [SD – 20] dt. 03.03.2005 2. Supplementary Memorandum, Memorandum of Entry, extension of
equitable mortgage already created dt. 02.03.2005 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Cash Credit : Rs. 14 millions [with CP up to
Rs. 1 million] Packing Credit [under LC] : Rs. 1 million FDBP [Under LC] : Rs. 1.500 million Inland LC : Rs. 2.500 millions [DA 60 days] Term Loan – I [O/S Level] : Rs. 4.977
millions Term Loan – II [O/S Level] : Rs. 12.913
millions Total : Rs. 36.890 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 |
a. Hypothecation of all the goods, stocks, raw materials, plant,
machinery, fixtures, implements, fittings and other installations, furniture,
vehicles, computers and all other articles and things both present and
future, whether installed or not, whether lying loose or in cases, at site or
in transit or which may at any time hereafter during the continuance of this
security be installed or lying loose or in cases or being in or upon or about
the borrowers factory premises, warehouses and godowns at 20/B, II Phase,
Peenya Industrial Area, Bangalore b. Hypothecation of all tangible movable machineries, plant,
machinery, fixtures, fittings, other installations, cranes, furniture,
computers and other accessories, vehicles together with spares, tools and
accessories, drilling/mining equipments, tools and all other articles lying
on the premises 21/B, II Phase, Peenya Industrial Area, Bangalore c. All the present and future book debts, outstanding monies,
receivables, claims, bills, contracts, securities, investments, rights and
assets of the company d. Extension of equitable mortgage of the title deeds already
deposited with the bank on 04.09.2003 of all that piece and parcel of vacant
land or ground bearing plot no. 20/B, II Phase Peenya Industrial Area,
Bangalore, in Sy Nos. 32, 33, 34 of Chokkasandra Village and Sy No. 41 of
Nallakadaranahalli village of Yeshwanthpur Hobli and bounded as follows : - North by plot no. 19 [A] - South by plot no. 20 [A] - East by KIADB Road - West by Private Land |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
a. Rate of
Interest and margin for various limits are as follows :
b. Term Loan – I
and II has been taken at their respective outstanding limits as on the date of
the agreement and they are repayable as per the schedule. |
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5) Name and Address and description of the person entitled to the
charge. |
Union Bank of
India SSI Branch,
Tumkur Road, Yeshwanthpur, Bangalore – 560022 |
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6) Date and brief description
of instrument modifying the charge |
Composite hypothecation deed [SD – 20] dated 03.03.2005 |
Form 8
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Name of the company |
PALS INDUSTRIES PRIVATE
LIMITED |
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Presented
By |
MR. N. Jayachandra Reddy, Director |
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1) Date and description of instrument creating the change |
Supplementary Memorandum [Equitable
Mortgage], Memorandum of Entry, extension of equitable mortgage already
created dated 02.03.2005 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Cash Credit : Rs. 14 millions [with CP up to
Rs. 1 million] Packing Credit [under LC] : Rs. 1 million FDBP [Under LC] : Rs. 1.500 million Inland LC : Rs. 2.500 millions [DA 60 days] Term Loan – I [O/S Level] : Rs. 4.977
millions Term Loan – II [O/S Level] : Rs. 12.913
millions Total : Rs. 36.890 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 |
Extension of equitable mortgage of the title
deeds already deposited with the bank on 04.09.2003 of all that piece and
parcel of vacant land or ground bearing plot no. 20/B, II Phase Peenya
Industrial Area, Bangalore, in Sy Nos. 32, 33, 34 of Chokkasandra Village and
Sy No. 41 of Nallakadaranahalli village of Yeshwanthpur Hobli and bounded as
follows : - North by Plot No. 19 [A] - South by Plot No. 20 [A] - East by KIADB Road - West by Private LAN |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
a. Rate of
Interest and margin for various limits are as follows :
|
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|
5) Name and Address and description of the person entitled to the
charge. |
Union Bank of
India SSI Branch,
Tumkur Road, Yeshwanthpur, Bangalore – 560022 |
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.46.94 |
|
UK Pound |
1 |
Rs.85.57 |
|
Euro |
1 |
Rs.67.79 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|