MIRA INFORM REPORT
|
Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
OZGUR ZIRAAT VE IS MAKINALARI SAN. VE TIC. LTD. STI. |
|
|
|
|
Registered Office : |
Ferhatpasa Mah.
11.Sok No:63 81262 Kartal Istanbul |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
08.01.1988 |
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Com. Reg. No.: |
240798 |
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|
Legal Form : |
Limited Company |
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|
|
Line of Business : |
Trader of Spare Parts of Tractor
and Reaping-Threshing Machine |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 430,000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
|
NAME |
: |
OZGUR ZIRAAT VE IS
MAKINALARI SAN. VE TIC. LTD. STI. |
|
ADDRESS |
: |
Head Office/Warehouse: Ferhatpasa Mah. 11.sok No:63 81262 Kartal
Istanbul/Turkey |
|
REMARKS ON ADDRESS |
: |
The door number was changed from “57” to “63” by the
municipality. |
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PHONE NUMBER |
: |
90-216-661 36 36 |
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FAX NUMBER |
: |
90-216-661 31 84 |
LEGAL STATUS AND HISTORY
|
TAX OFFICE / NO |
: |
Kucukyali / 6930032535 |
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REGISTRATION NUMBER |
: |
240798 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
08.01.1988 (Commercial Registry Gazette Date/No: 14.01.1988/1934) |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
YTL 1,000,000 |
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|
PAID-IN CAPITAL |
: |
The paid-in capital which was YTL 892,616 as of 31.12.2007 is
declared to be YTL 1,000,000 now. There is no certification for the paid-in
capital. |
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HISTORY |
: |
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Previous Registered Capital |
:YTL 400,000 |
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Regist. Capital Changed on |
:25.12.2006 (Commercial Registry Gazette Date/No: 29.12.2006/6715) |
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OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Husamettin Bolukbas Fatih Ozgur Bolukbas |
88 % 12 % |
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GROUP PARENT COMPANY |
: |
None |
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||
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SISTER COMPANIES |
: |
Ozgur Traktor Yedek Parca Sanayi ve Ticaret Ltd Sti |
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||
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SUBSIDIARIES |
: |
None |
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||
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DIRECTORS |
: |
Husamettin Bolukbas |
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||
OPERATIONS
|
BUSINESS ACTIVITIES |
: |
Trade of spare parts of
tractor and reaping-threshing machine |
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|
SECTOR |
: |
Commerce |
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|
DISTRIBUTOR OF |
: |
Federal Mogul |
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TRADEMARKS TRADED |
: |
Goetze |
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NUMBER OF EMPLOYEES |
: |
10 |
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NET SALES |
: |
(YTL) 4,277,689 4,496,877 1,737,173 |
(2006) (2007) (01.01-30.06.2008) |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
(USD) 585,000 400,000 |
(2007) (01.01-30.09.2008) |
|
IMPORT COUNTRIES |
: |
India, China.. |
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MERCHANDISE IMPORTED |
: |
Spare parts of tractor |
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PREMISES |
: |
Head Office/Warehouse: Ferhatpasa Mah. 11.sok No: 63 81262 Maltepe
Istanbul (2,000 sqm area) (owned by shareholders) |
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FIXED CAPITAL INVESTMENTS |
: |
None |
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|
TREND OF
BUSINESS |
: |
There was a stagnating trend
at sales volume in 2007. There appears a slowdown at sales volume in the
first 6 months of 2008. |
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SIZE OF BUSINESS |
: |
Upper-moderate |
FINANCE
|
MAIN DEALING BANKERS |
: |
T.Is Bankasi Yedpa branch in Istanbul Yapi Ve Kredi Bankasi Yedpa branch in Istanbul |
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CREDIT FACILITIES |
: |
The subject company makes use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
No payment delays
have come to our knowledge. |
COMMENT ON FINANCIAL POSITION
|
FINANCIAL STRUCTURE (SUFFICENCY OF OWN
RESOURCES) |
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|
In order |
As of 31.12.2007 |
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LIQUIDITY |
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Satisfactory |
As of 31.12.2007 |
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PROFITABILITY |
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Fair |
In 2007 |
Fair |
Between
01.01.-30.06.2008 |
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GAP BETWEEN COLLECTION-PAYMENT PERIODS |
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Favorable |
In 2007 |
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GENERAL FINANCIAL POSITION |
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In order |
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CREDIT OPINION
|
CREDIT OPINION WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit of USD 430,000 may be granted
to the subject company. |
|
|
Incr. in producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
|
(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
|
(1.1.-30.06.2008) |
13.76 % |
1.2197 |
1.8695 |
2.4232 |
|
(1.1.-30.09.2008) |
11.48 % |
1.2146 |
1.8490 |
2.3755 |
BALANCE
SHEETS
|
|
|
YTL |
|
|
|
YTL |
|
|
|
|
|
|
31.12.06 |
|
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|
31.12.07 |
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CURRENT ASSETS |
1.459.602 |
|
0,61 |
|
1.815.604 |
|
0,69 |
|
|
|
Cash and
Banks |
78.314 |
|
0,03 |
|
215.942 |
|
0,08 |
|
|
|
Marketable Securities |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Account
Receivable |
926.007 |
|
0,39 |
|
640.981 |
|
0,24 |
|
|
|
Other
Receivable |
48.837 |
|
0,02 |
|
101.345 |
|
0,04 |
|
|
|
Inventories |
387.065 |
|
0,16 |
|
721.464 |
|
0,27 |
|
|
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Advances
Given |
768 |
|
0,00 |
|
90.955 |
|
0,03 |
|
|
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Other
Current Assets |
18.611 |
|
0,01 |
|
44.917 |
|
0,02 |
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|
|
|
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|
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NON-CURRENT ASSETS |
920.496 |
|
0,39 |
|
831.460 |
|
0,31 |
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|
Long-term
Receivable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
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Financial
Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
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Tangible
Fixed Assets (net) |
809.584 |
|
0,34 |
|
679.920 |
|
0,26 |
|
|
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Intangible Assets |
93.873 |
|
0,04 |
|
131.714 |
|
0,05 |
|
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|
Other
Non-Current Assets |
17.039 |
|
0,01 |
|
19.826 |
|
0,01 |
|
|
|
|
|
|
0,00 |
|
|
|
|
|
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TOTAL ASSETS |
2.380.098 |
|
1,00 |
|
2.647.064 |
|
1,00 |
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|
|
|
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CURRENT LIABILITIES |
1.500.716 |
|
0,63 |
|
1.391.493 |
|
0,53 |
|
|
|
Financial
Loans |
118.673 |
|
0,05 |
|
29.934 |
|
0,01 |
|
|
|
Accounts
Payable |
1.325.266 |
|
0,56 |
|
1.085.812 |
|
0,41 |
|
|
|
Loans
from Shareholders |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
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|
Other
Short-term Payable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Advances
from Customers |
0 |
|
0,00 |
|
262.338 |
|
0,10 |
|
|
|
Taxes
Payable |
56.777 |
|
0,02 |
|
13.409 |
|
0,01 |
|
|
|
Provisions |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Current Liabilities |
0 |
|
0,00 |
|
0 |
|
0,00 |
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LONG-TERM LIABILITIES |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Financial
Loans |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
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Securities Issued |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
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Long-term
Payable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Loans
from Shareholders |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Long-term Liabilities |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Provisions |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
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|
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|
STOCKHOLDERS' EQUITY |
879.382 |
|
0,37 |
|
1.255.571 |
|
0,47 |
|
|
|
|
|
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|
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TOTAL LIABILITIES AND EQUITY |
2.380.098 |
|
1,00 |
|
2.647.064 |
|
1,00 |
|
INCOME
STATEMENTS
|
|
|
YTL |
|
|
|
YTL |
|
|
|
YTL |
|
|
|
|
|
|
2006 |
|
|
|
2007 |
|
|
|
1.1.-30.06.2008 |
|
|
|
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|
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|
|
|
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|
|
|
|
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Net Sales |
4.277.689 |
|
1,00 |
|
4.496.877 |
|
1,00 |
|
1.737.173 |
|
1,00 |
|
|
|
Cost of
Goods Sold |
3.577.251 |
|
0,84 |
|
3.759.726 |
|
0,84 |
|
1.503.575 |
|
0,87 |
|
|
|
Gross Profit |
700.438 |
|
0,16 |
|
737.151 |
|
0,16 |
|
233.598 |
|
0,13 |
|
|
|
Operating
Expenses |
481.255 |
|
0,11 |
|
556.028 |
|
0,12 |
|
172.776 |
|
0,10 |
|
|
|
Operating Profit |
219.183 |
|
0,05 |
|
181.123 |
|
0,04 |
|
60.822 |
|
0,04 |
|
|
|
Other
Income |
2.288 |
|
0,00 |
|
3.023 |
|
0,00 |
|
1.125 |
|
0,00 |
|
|
|
Other Expenses |
0 |
|
0,00 |
|
323 |
|
0,00 |
|
7.412 |
|
0,00 |
|
|
|
Financial
Expenses |
43.607 |
|
0,01 |
|
23.643 |
|
0,01 |
|
0 |
|
0,00 |
|
|
|
Profit (loss) Before Tax |
177.864 |
|
0,04 |
|
160.180 |
|
0,04 |
|
54.535 |
|
0,03 |
|
|
|
Tax
Payable |
39.961 |
|
0,01 |
|
50.778 |
|
0,01 |
|
0 |
|
0,00 |
|
|
|
Net Profit (loss) |
137.903 |
|
0,03 |
|
109.402 |
|
0,02 |
|
54.535 |
|
0,03 |
|
FINANCIAL
RATIOS
|
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|
2006 |
|
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|
2007 |
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|
1.1.-30.06.2008 |
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LIQUIDITY RATIOS |
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Current Ratio |
0,97 |
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|
1,30 |
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|
-- |
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Acid-Test Ratio |
0,70 |
|
|
|
0,69 |
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|
-- |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,16 |
|
|
|
0,27 |
|
|
|
-- |
|
|
|
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Short-term Receivable/Total Assets |
0,41 |
|
|
|
0,28 |
|
|
|
-- |
|
|
|
|
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Tangible Assets/Total Assets |
0,34 |
|
|
|
0,26 |
|
|
|
-- |
|
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TURNOVER RATIOS |
|
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Inventory Turnover |
9,24 |
|
|
|
5,21 |
|
|
|
-- |
|
|
|
|
|
Stockholders' Equity Turnover |
4,86 |
|
|
|
3,58 |
|
|
|
-- |
|
|
|
|
|
Asset Turnover |
1,80 |
|
|
|
1,70 |
|
|
|
-- |
|
|
|
|
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FINANCIAL STRUCTURE |
|
|
|
|
|
|
|
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|
Stockholders' Equity/Total Assets |
0,37 |
|
|
|
0,47 |
|
|
|
-- |
|
|
|
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|
Current Liabilities/Total Assets |
0,63 |
|
|
|
0,53 |
|
|
|
-- |
|
|
|
|
|
Financial Leverage |
0,63 |
|
|
|
0,53 |
|
|
|
-- |
|
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,16 |
|
|
|
0,09 |
|
|
|
-- |
|
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Operating Profit Margin |
0,05 |
|
|
|
0,04 |
|
|
|
0,04 |
|
|
|
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Net Profit Margin |
0,03 |
|
|
|
0,02 |
|
|
|
0,03 |
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COLLECTION-PAYMENT |
|
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|
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|
|
|
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Average Collection Period (days) |
77,93 |
|
|
|
51,31 |
|
|
|
-- |
|
|
|
|
|
Average Payable Period (days) |
133,37 |
|
|
|
103,97 |
|
|
|
-- |
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FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.72 |
|
UK Pound |
1 |
Rs.82.17 |
|
Euro |
1 |
Rs.65.90 |
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 |
|
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%)