MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
V.K. INTERNATIONAL |
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Registered Office : |
846, Sector-A, Pocket-C, Vasant Kunj, New Delhi-110070 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1994 |
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IEC No.: |
0594023131 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
07020178165 |
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PAN No.: [Permanent
Account No.] |
AABPN6122F |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Automotive Parts. |
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 : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Vinod Nagpal |
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Designation : |
Chief Executive Officer |
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Date : |
10.10.2008 |
LOCATIONS
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Registered Office/Factory : |
846, Sector-A, Pocket-C, Vasant Kunj, New Delhi-110070, India |
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Tel. No.: |
91-11-26122768 |
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Mobile No.: |
91-9811234774/ 9818577783 |
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Fax No.: |
91-11-26122768 |
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E-Mail : |
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Area : |
1600 sq. mt ( Owned) |
SOLE PROPRIETOR
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Name : |
Mrs. Jyoti Nagpal |
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Designation : |
Proprietor |
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Address : |
846, Sector-A, Pocket-C, Vasant Kunj, New Delhi-110070, India |
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Qualification : |
MSC |
KEY EXECUTIVES
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Name : |
Mr. Vinod Nagpal |
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Designation : |
Chief Executive Officer |
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Address : |
846, Sector-A, Pocket-C, Vasant Kunj, New Delhi-110070, India |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Automotive Parts. |
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Products : |
·
Lynch Pins ·
Cotter Pins ·
Quick Release Pins ·
Top Link Pins ·
Red Handle Hitch Pins ·
Wire Forms ·
Exhaust Clamps ·
Counter Balanced Weather Caps |
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Exports : |
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Countries : |
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Europe ·
North America ·
Canada |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Bankers : |
Punjab and Sind Bank, New Delhi |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Not available |
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 |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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20.000 |
17.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09) : Rs.25.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile:
They, V. K. International, are manufacturers and exporters
of automotive parts, automotive spare parts, automotive accessories etc. They were
set up in early nineties to cater to the import requirements of the
international market. They have established a niche in European, North American
and Canadian markets. The company is looking forward to establish itself in
other parts of the world too. The promoters are in automobile spares business
since early seventies.
They are committed to supplying international quality products at most
competitive price without compromising on the quality. They ensure strict
adherence to the delivery schedules and constantly strive for improving the
service level.
The
Products:
They manufacture a wide gamut of precision made automobile
parts and components. The exclusive range of automotive parts, spare parts and accessories
includes: lynch pins, wire forms, quick release pins/ cotter less hitch pins,
red handle hitch pins/ fold over hitch pins , lift arm and top link pins,
spring pins, cotter pins, exhaust clamps and counter balanced weather caps.
Apart from the above mentioned range, they also specialize in manufacturing
following products:
Tractor Linkage Parts
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Linch Pins
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Pto Pins/ Snappers Pins/ Wire Lock Pins
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Hair Pin/ Grip Clip
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Safety Pin
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Hitch Pin
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Quick Release Pin/ Cotter less Hitch Pin
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Toplinks, Lift Arm Pins
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Top Link Pin, Stabilizer Pin
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Clevis Pin
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Replacement Ball
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Ball With Guide Cone
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Draw Bar
Exhaust Clamps
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M8
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M10
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Ford
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Audi
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Citroen
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Mini-clamp
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Pipe-assembly
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Body-bands
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Weather Cap
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Rain Cap
Fasteners
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Bolt
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Nuts
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Cotter Pin
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Spring washer
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Spring pin / Dowell Pin
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Clevis Pin
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Pop Rivet/ Blind Rivet
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S-hook
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Shaft-locking Collars
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Wood-ruff Keys
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Machine Keys
Other Auto Parts
Battery Terminals - Brass and Lead, Gate Fitting, Ornamental Drop Forged Fence
Fittings/Railing Heads, Wheel Spinners.
Salient features of the product array include:
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Durable and sturdy
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High efficiency and reliability
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Corrosion resistant
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Abrasion resistant
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Excellent tensile strength
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Hard-wearing
Infrastructure:
They have a profound infrastructure set-up that assists in order
to serve the clients efficiently and effectively. The infrastructure comprises
of:
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Production unit
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Quality testing unit
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Warehouse
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Packaging section
Team
They have a very skilled and talented team of workers. They
work hard to deliver quality products which meets the national as well as
international client's specific requirements. They are well aware of the market
scenario, which helps them to manufacture exclusive range of products. The
products that are manufactured by the team help them to gain good reputation in
the global market.
Clients:
With the premium automobile parts and components and
superior customer oriented approach, they have been able to meet the emerging requirements
of the industry As well as of the clients. Further the consistent quality and
dedicated approach has also aided them in retaining the existing clients and
making new ones in the global markets. The different market where they have a
strong foothold are:
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Europe
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North America
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Canada and many more.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
YES |
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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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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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