MIRA INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION DETAILS
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Name : |
FASHION
DEZIRE |
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Registered Office : |
5C /
65, New Rohtak Road, Near Liberty Cinema, New Delhi – 110005. |
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Country : |
India |
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Financials (as on) : |
31.03.2008
(Estimated) |
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Date of Incorporation : |
20.07.1998 |
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IEC No.: |
0501008209 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELF02871B |
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PAN No.: [Permanent Account No.] |
AABFF3586B,
AAAPK2443H |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturers,
Importers and Exporters of Ties, Scarves, Leather Goods Accessories and
Handkerchiefs. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed concern meeting its normal commitments
timeously. Trade relations are fair. Business is active. The concern
can be considered good for normal business dealings. |
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INFORMATION PARTED BY
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Name
: |
Mr.
Sanjiv Khanna |
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Designation
: |
Partner |
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Contact
No.: |
91-9810066292 |
LOCATIONS
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Registered Office / Factory 1: |
5C / 65,
New Rohtak Road, Near Liberty Cinema, New Delhi – 110005, India |
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Tel. No.: |
91-11-28711158
/ 28711159 / 28711160 |
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Mobile No.: |
91-9810066292 |
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Fax No.: |
91-11-28711160 |
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E-Mail : |
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Area : |
1500
sq. fts. |
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Location : |
Owned |
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Branch
Office : |
5/2,
Rajnigandha Building, D B Gupta Road, Pahar Ganj, New Delhi, 110055, India |
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91-9810066292 |
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Area : |
2000
Sq.fts |
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Location : |
Owned |
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Factory
2 : |
B/53,
Sector 6, Noida-201 301, Uttar Pradesh, India |
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Tel
No.: |
91-120-3069500/19 |
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Mobile
No.: |
91-9810066292 |
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E-Mail
: |
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Area : |
10000
Sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Naresh
Chander Khanna S/o Mr. S R Khanna |
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Designation : |
Partner |
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Address : |
N -
160 Greater Kailash, Part-I, New Delhi 110 048, india |
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Date of Birth/Age : |
55
Years |
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Qualification : |
B.
Tech Engineering |
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Experience : |
28
years |
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Name : |
Mr.
Sanjiv Khanna S/o Mr. Naresh, Chander Khanna |
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Designation : |
Partner |
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Address : |
N-160
Greater Kailash, Part-I, New Delhi 110 048, India |
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Date of Birth/Age : |
33
Years |
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Qualification : |
Post
Graduate |
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Experience : |
9
years |
KEY EXECUTIVES
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Name
: |
Mr.
Sanjiv Khanna |
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Designation
: |
Chief
Executive Officer |
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Mobile
: |
91-9810066292 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers,
Importers and Exporters of Ties, Scarves, Leather Goods Accessories and
Handkerchiefs. |
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Products : |
·
Plain Dyed
Polyester Neckties ·
Woven Micro
Polyester Neckties ·
Woven Silk
Neckties & Gift Set |
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Exports to : |
USA |
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Imports from : |
China,
Italy Taiwan and South Korea. |
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Terms : |
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Selling : |
Credit
(30 days) |
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Purchasing : |
Credit
(30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers,
Corporate and Educational Institutions. |
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No. of Employees : |
58 (50 in Office and 8 in Branches) |
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Bankers : |
Bank
of India, Chandni Chowk Branch, Delhi 110006, India (Current
A/c No. 20224) |
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Facilities : |
Cash
Credit – Rs. 25.000 millions |
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Banking Relations : |
Satisfactory |
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Auditors
: |
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Name 1 : |
V K
Shah and Company Chartered
Accountants |
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Name 2: |
Manoj
Jeevan and Associates Chartered
Accountants |
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Membership : |
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Associates/Subsidiaries
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Khanna
Sons, 1416, Chandani Chowk, Delhi – 500 006, India Activity
: Textiles of Garments |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
2.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.
2.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
31.03.2008 (Estimated) |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
65.000 |
40.000 |
20.000 |
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Profit/(Loss) Before Tax |
NA |
NA |
0.200 |
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Profit/(Loss) After Tax |
NA |
NA |
0.160 |
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Import Value |
NA |
NA |
15.000 |
Expected
Sales (2008-09): Rs.100.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRUSTSEAL
ACCEPTANCE CHART
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Parameters
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Detail |
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Existence
Verification |
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Name |
FASHION DEZIRE |
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Statutory
Approvals |
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Income Tax Registration |
AABFF3586B |
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VAT / TIN Registration |
09665703874 |
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Import Export Code |
0501008209 |
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Name of Bank |
Bank of India |
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Current account Number |
601130110000030 |
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Account Since |
2 years |
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Creditability
Factors |
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India Mart Client Since |
2002 |
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Trade
Affiliations |
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SSI Registration |
090101200360 |
WEBSITE Details:-
Concern Profile
Their organization is driven by the mission to deliver high quality
products at prices that are sure to be competitive and within stipulated time
frames. Implementation of world-class standards of business integrity in their
entire gamut of business operations is also a core mission of their concern.
Moreover, since their inception, they have endeavored to build mutually
beneficial relationships with their customers and vendors.
Repertoire of their Products
Being one of the largest manufacturer of men fashion accessories, they
offer a wide assortment of products to their customers at best industry rates.
Their quality products come in a wide range and variety in accordance to
customers taste and preferences. The product line can be teamed with both casual
and formal affairs. Their product list includes:
Men's Neck tie and Neck Scarves - Crafted from varied fine quality fabrics
(silk, polyester, etc), their spectrum of men's neck tie and neck scarves are a
class apart. These are available in numerous colours, prints and patterns.
Men's Neck tie Accessories - Their array of neck tie accessories comprise
cuff-links, tie clips, tie pins, etc., that are crafted with utmost attention
to each and every detail.
Leather Products
- From belts, folders to wallets, they offer a resplendent collection of
high quality leather products. A wide variety is available in their products
like wallets of different types such as double fold wallets, manifold wallets,
etc.
Other Products
- Along with their other range of products, they offer a wide range of
handkerchiefs and socks. These are made
from quality silk and durable polyester.
To provide the best quality products, they import exclusive Italian neck wear,
woven silk, printed silk neck tie and scarves of fine international stripes,
classic motifs and intricate jacquards.
Versatile Infrastructural Set Up and Team
In order to meet production schedules on time, they have a comprehensive
manufacturing unit. Their organization has versatile infrastructural facilities
and manpower to deliver exquisite products.
From product sampling, merchandising, production, quality-control, packing,
finishing to forwarding, they have a motivated team of experienced
professionals in all areas of operations. With a smooth and efficient co-ordination
among various departments, they deliver best quality range of men's neck tie
and other men's fashion accessories.
Quality in Focus
Quality Products is the core focal point of their concern. They are
dedicated to providing high quality men's neck tie / leather products and
professional services to their clients. Ensuring excellence in their work, a
proactive set of norms is followed by them to deliver quality products.
Stringent quality checks are implemented by their quality controllers at various
stages of production. This deliberate effort has helped them to streamline the
entire process of production and deliver leather product and neck tie of
international standards.
Availability of Samples
They facilitate the availability of sample products to their customers.
Clients can intimate them with their sample requirements and they can forward
the samples within a short span of time.
The sample of leather goods, neck tie/ neck scarves and other accessories for
men are exact replica of the final product that are delivered by them.
Moreover, packing of samples is also identical to the packaging of their goods.
They ensure that production is initiated once the approval of samples and
placement of orders has been accomplished.
Customized Products
Along with their product line, customers can avail their specialized
facility of Customized Products from them at best rates. Their range of
products can be crafted as per the tastes and preferences of their clients.
Providing gift solutions to various corporates, they have a team of experts to
identify and understand the most complex requirements of clients. Various
parameters like corporate strategies, purpose, occasion, cost, logo, color
schemes, etc. are considered before making customized goods for various
corporates.
CMT REPORT [Corruption, Money laundering
& Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.46.88 |
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UK
Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses
an extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
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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 |
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<10 |
C |
Absolute
credit risk exists. Caution needed to be exercised |
Credit not recommended |
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NR |
In
view of the lack of information, we have no basis upon which to recommend
credit dealings |
No Rating |
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