MIRA
INFORM REPORT
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Report Date : |
16.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
Shridi Mirra Impex |
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Registered Office : |
¼, Sai Gardens, Dhandeeshwaram Nagar, 10th Cross Street, Velachery,
Chennai – 600 042, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
December 2006 |
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PAN No.: [Permanent
Account No.] |
ACSPL3710E |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Herbal and pharmaceuticals Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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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 15000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern in its field. Trade relations are fair. payments are usually correct and as per
commitments. The concern can be considered for small to mediocre business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office / Head Office : |
¼, Sai Gardens, Dhandeeshwaram Nagar, 10th Cross Street, Velachery,
Chennai – 600 042, Tamil Nadu, India |
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Tel. No.: |
91-44-42022250 |
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Mobile No.: |
91-9940365496 |
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E-Mail : |
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Area : |
400 Sq.fts |
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Location : |
Owned |
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Factory : |
Suryan Pharmaceuticals , Kovur, Off Chennai, Tamil Nadu, India |
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Branches : |
Under Proposal |
SOLE PROPRIETOR
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Name : |
Ms. Leela Ramanan |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Herbal and pharmaceuticals Products. |
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Exports : |
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Countries : |
Nigeria, Africa |
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Terms : |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
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Suppliers : |
Suryan Pharmaceuticals, Kovur |
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Customers : |
Franemm Traders, Nigeria |
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No. of Employees : |
10 on Contract Basis |
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Bankers : |
Canara Bank, Velachery, Chennai – 600 042, Tamil Nadu, India |
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Facilities : |
Operating On Own Funds |
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Banking
Relations : |
----- |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 3.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2009 (Projected) |
31.03.2008 |
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Sales Turnover |
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1.000 |
0.500 |
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Profit/Loss for the year |
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0.100 |
0.050 |
Inventories about Rs. 0.100 million
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
SHRIDI MIRRA IMPEX |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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Income Tax Registration |
ACSPL3710E |
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Central Sales Tax Registration |
890841 |
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VAT / TIN Registration |
33560985352 |
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Excise Registration |
In Process |
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EMP. Code |
0406025151 |
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Name of Bank |
Canara Bank |
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Current account Number |
833 |
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Account Since |
From 2005 |
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Creditability Factors |
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India Mart Client Since |
Since 2008
only |
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Trade Affiliations |
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SSI Registration |
In process |
WEBSITE DETAILS:-
Incepted in the year
2007, Subject is one of the principal manufacturers, exporters and importers of
pure and effective herbal cosmetics and pharmaceutical products. They are one of
the technological advanced organizations with facilities such as research and
development unit, production unit, well equipped quality testing laboratory,
warehousing facility and distribution network. Their comprehensive range
includes Skin Clarity Gel, Cosmetic Beauty Products, Beauty Fairness Cream,
Spot Remover and many more.
Their cutting edge technology and industrial experience of their professionals
in the similar domain help them to formulate pharmaceutical products that are
adored throughout the international market. This is further apparent from
pharmaceutical products such as Megacid and Hem-9 was awarded as the best
antacid of Nigeria, West Africa. They also provide contractual manufacturing to
plants which are certified by WHO/GMP.
Led under the
capable direction and mentorship of Mr. Ramanan, they are able to spread their
business into the global arena. His professionalism and wide industrial
experience is behind the immense success they have accomplished within the
short span of time. His successful stint in various organizations such as
B.P.R.L, Uni Med India, Helios, Bal Pharma, T.T.K, Jawa International and Sai
Mirra Innopharm has further enhances leadership capabilities. His excellent
marketing skills ensure them to cater their range to clients spread across
countries across the globe. Further, he has introduced the best antacid known
as ‘Megacid’ with alginic acid for the first time in Nigeria which was later
awarded West Africas No.1 Antacid. They have been able to establish their
selves in the industry owing to the guidance of their mentors including:
Founder Person: R. V. Ramanan (three decades of experience)
· Their Proprietor: S. Leela
· Their C.E.O: R. V. Ramanan.
·
Their Managing Director of Operations: R. V.
Mallikarjunam. 
Product Portfolio
They make use of
qualitative raw material such as natural source, fruit extracts, plant
extracts, herbs and natural products in the formulation process of their
cosmetic and herbal medicines. Their comprehensive range encompass Skin Clarity
Gel, Cosmetic Beauty Products, Beauty Fairness Cream, Spot Remover, Megacid,
Gastrocid, Ultracid and Hem-9.
Under the range of their cosmetic beauty products they offer 14 Days all clear
Gel and 14 Days all clear Cream. They offer fairness cream including Beauty for
Ever Natural, Beauty for Ever Toning and Beauty for Ever Herbal. Their spot
remover creams comprise of Clear and Fair Cream and Clear and Fair Gel. They
offer Gastrocid, Ultracid, Hem-9, and Megacid.
Some of the salient features of their
cosmetic and pharmaceutical range are as follows:
· Pure
· Effective
· Precise composition
In addition to this, they also offer Vera Gold Breast shapes Gel, Niagara the
sex enhancement capsules, spondrix for cervical pains, Spondaic for pains ,
Nutracid the herbal antacid tablets, Diacard the tabs for Type-2 Diabeties,
Lipicaps tabs to control the LDL/HDL Cholesterol level in Blood, Immune Boost
Amino acid Formula Biostymin immune boosting liquid and capsules, Megamino
immune boosting Liquid and capsules, Megacid the antacid with alginic acid for
acidity, Ultracid with DGL and Alginic for ulcer healing and peptic ulcer,
Gastrocid Alginic acid with magaldrate for common acidic problems, Hem-9 Immune
Boosting Hematinic soft gels for all notably to pregnant mother and lactating
mothers, finished form of dietary supplements, nutritional supplements,
functional foods, health foods, herbal medicines in capsules, tablets, oral
solutions and oral powders.
They are also enhancing their production process to develop Skin Lightening and
Brightening Creams and Gels with no hydroquinones with the name Faceand Body
and Glo-Fair and more research products in the pipe line. 
Infrastructural facility
They have a
state-of-the-art infrastructural facility wherein they have set up
sophisticated manufacturing facility, qualitative laboratory, research facility
and warehousing facility. Spread across a sprawling area of 7000 square feet,
their sophisticated manufacturing unit is installed with requisite machinery
and equipment to enhance the production process. Some of the machines used in
their manufacturing unit comprises of the following:
· Extractors
· Separators
· Purifiers
· Drying equipment
· Mixers
They also have contract manufacturing of which the plants are
situated in Chennai, Pondicherry, Kerala. Their contract manufacturing plants
are certified under the norms of WHO/GMP. During the formulation of their wide
array of pharmaceutical and cosmetic product range, they take utmost care in
maintaining hygienic environment. Further, their manufacturing unit is designed
and developed with proper drainage system to drain out the waste material. 
Workforce
Formulation and
preparation of herbal and pharmaceutical products requires in-depth knowledge and
requisite experience in the formulation process. Their professionals are
employed only after thorough testing of their caliber and product knowledge.
Their workforce has talents who are multidisciplinary, specialized and
professionals in their respective domain and knows how to execute their
responsibilities with utmost perfection. Their workforce comprising of herbal
experts, consultants, quality auditors, researchers and sales professionals
work in close coordination with each other to enhance the production and post
production process. Relying on their talent they are able to cooperate closely
with a number of research institutes and universities. Their experts and
consultants guide them in the formulation of superior quality herbal and
pharmaceutical products with exact composition. Backed by the meticulous
efforts of their professionals they are able to take national, provincial and
municipal scientific research projects and have achieved success every time.
Their sales force enables them to cater their range in the global market
including African and Asia-Pacific countries. 
Quality Assurance
Quality is essential
in pharmaceutical and herbal product range and is vital in the growth of any
organization. They keep this in mind whilst formulation of their gamut along
with in the post production process of their herbal medicines formulation.
Their quality assurance policy, subjected under the assessment of their quality
auditors, is applicable to the production as well as for the post production
processes such as storage and distribution.
Their herbal and pharmaceutical range is of international standard owing to the
raw material used in the process which is sourced from reliable and trusted
manufacturers in Kerala and other parts in the country. They offer contract
manufacturing from certified plants from WHO/GMP. In addition to this their
range is subjected to lab analysis and testing for accurate composition and
effectiveness.
Further, their production process is in accordance with ISO 9001: 2000 quality
management systems which ensure their process is at par with international
standard. Moreover, they associate with technical partners who are certified by
National GMP. 
Research and
Development
Research has been
one of the principal means of getting optimal quality in their wide gamut of
herbal and pharmaceutical products. Their continuous growth in the industry is
due to their regular and continuous association with research work. Their
research associates keep themselves abreast with industrial requirement and let
them know specific demands of their global clients. One more aspect of their
research is to implement technological advanced processes in the formulation of
cosmetic and pharmaceutical products.
Their interactive, cordial and cooperative relationship with established
universities helps them in research and development of cosmetics, herbal and
pharmaceutical formulation, and resource sharing. They have associated their
selves with Kerala and Tamilnadu Medicine Research Institute of Indian research
of Traditional Indian Medicine, Institute of Ayurveda Medicine of Medical
Sciences, and similar organizations.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.42 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
NO |
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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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36 |
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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