MIRA
INFORM REPORT
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Report Date : |
20.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAFEOCEAN E LOGISTICS PRIVATE LIMITED |
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Registered Office : |
HIG 435, Housing Board Colony, Jamalpur Awana, Ludhiana – 141 010,
Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
21.07.2006 |
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Com. Reg. No.: |
16-30516 |
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CIN No.: [Company
Identification No.] |
U61100PB2006PTC030516 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDS05839B |
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PAN No.: [Permanent
Account No.] |
AAKCS12499 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
International Freight Forwarding and Shipping Agent (Service Sector) |
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 7000 |
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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 : |
Mr. Vishal Malik, Director confirmed the details. Subject is a small company in it’s field. Trade relations are fair. Payments
are usually correct and as per commitments. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Vishal Malik |
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Designation : |
Director |
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Contact No.: |
91-987800034 |
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Date : |
03.10.2008 |
LOCATIONS
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Registered Office : |
HIG 435, Housing Board Colony, Jamalpur Awana, Ludhiana – 141 010,
Punjab, India |
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Mobile No.: |
91-9878000334 (Mr. Vishal Malik) 91-9356547730 |
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E-Mail : |
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Website : |
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Area : |
200 sq yaeds (residence) |
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Location : |
Owned |
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Administrative Office : |
Jagjit Complex, Street No. 9, Jeewan Nagar, Ludhiana – 141 010,
Punjab, India |
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Tel. No.: |
91-161-2678968 |
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Fax No.: |
91-161-2678351 |
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Area : |
450 sq ft |
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Location : |
Rented |
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Branches : |
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Other
Inland Location : |
Jaipur, Panipat, Moradabad, Kanpur, Bhadohi, Agra,
Jodhpur, Pune, Nashik, Nagpur, Indore, Pithampura, ahmedabad, Haldia, Nepal, Ranchi,
Bhopal, Raipur, Gwalior, Chandigarh, Jalandhar, Ambala, Baddi, Amritsar,
Jammu, Srinagar. |
DIRECTORS
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Name : |
Mr. Vishal Malik |
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Designation : |
Director |
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Date of Birth/Age : |
26.01.1972 |
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Qualification : |
M. Com |
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Date of Appointment : |
21.07.2006 |
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Name : |
Mrs. Avantika Malik |
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Designation : |
Director |
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Date of Birth/Age : |
20.03.1969 |
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Qualification : |
D.A, B. ED |
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Date of Appointment : |
21.07.2006 |
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Name : |
Mr. Inder Mohan Malik |
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Designation : |
Director |
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Date of Birth/Age : |
15.12.1942 |
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Qualification : |
Diploma in Engineering |
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Date of Appointment : |
21.07.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Vishal Malik |
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5000 |
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Mrs. Avantika Malik |
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2500 |
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Mr. Inder Mohan Malik |
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2500 |
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Total |
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10000 |
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Equity share
breakup (percentage of total equity) |
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Category |
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Percentage |
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Directors or relatives of directors |
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100 |
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Total |
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100 |
BUSINESS DETAILS
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Line of Business : |
International Freight Forwarding and Shipping Agent (Service Sector) |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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No. of Employees : |
50 (Including in Branches) |
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Bankers : |
·
Indus Ind
Bank Limited, Urban Estate Branch ·
HDFC Bank
Limited |
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Facilities: |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mohit Sagar and Associates |
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Address : |
45-Sant Nagar Civil Lines, Ludhiana, Punjab – 141 001 |
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CAPITAL STRUCTURE
(As On 30.11.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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1.161 |
0.168 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.261 |
0.268 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.025 |
0.075 |
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TOTAL BORROWING |
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0.025 |
0.075 |
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DEFERRED TAX LIABILITIES |
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0.017 |
0.007 |
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TOTAL |
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1.303 |
0.350 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.233 |
0.087 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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5.455 |
0.000 |
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Sundry Debtors |
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1.071 |
2.860 |
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Cash & Bank Balances |
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0.000 |
0.533 |
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Other Current Assets |
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0.523 |
0.000 |
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Loans & Advances |
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0.008 |
0.140 |
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Total
Current Assets |
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7.057 |
3.533 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.502 |
3.193 |
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Provisions |
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0.494 |
0.088 |
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Total
Current Liabilities |
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5.996 |
3.281 |
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Net Current Assets |
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1.061 |
0.252 |
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MISCELLANEOUS EXPENSES |
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0.009 |
0.011 |
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TOTAL |
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1.303 |
0.350 |
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PROFIT & LOSS
ACCOUNT
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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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31.562 |
13.860 |
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Other Income |
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0.006 |
0.000 |
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Total Income |
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31.568 |
13.860 |
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Profit/(Loss) Before Tax |
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1.505 |
0.263 |
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Provision for Taxation |
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0.512 |
0.095 |
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Profit/(Loss) After Tax |
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0.993 |
0.168 |
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Expenditures : |
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Operating and other expenses |
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30.046 |
13.591 |
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Depreciation & Amortization |
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0.014 |
0.003 |
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Preliminary Expenses written off |
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0.003 |
0.003 |
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Total Expenditure |
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30.063 |
13.597 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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3.15 |
1.21 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.77 |
1.99 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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20.64 |
7.27 |
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Return on Investment (ROI) (PBT/Networth) |
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1.19 |
0.98 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.77 |
12.52 |
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Current Ratio (Current Asset/Current Liability) |
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1.18 |
1.08 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement
of Indiamart for Trust-Seal |
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Service Tax No. : AAKCS1249Q ST001 |
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PAN / TAN : AAKCS1249Q |
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Bank Name : IndusInd Bank |
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Bank A/c. No.: 0520B5832060 |
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Account Since : 2006 |
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In case of any affiliations / memberships / certifications
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Name : MTO (Multimodal Transport Operator) |
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Type : MTO License |
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Expiry Date : Issued- 09.06.2008 to 08.06.2011 |
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Reg No: MTO/DGS/668/2008 |
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Trade Reference:
- Eastmen Impex, Ludhiana
- Shakti Impex
FIXED
ASSETS:-
· Computer
· Air Conditioner
· Furniture
· Electric Fittings
· Invertor
· Typewriter
Websites DETAILS:-
Company
Profile
Incepted in the year 2005 as Safeocean Express (prop. firm),
they are one of the young and ardent organizations engaged in providing
effective and reliable logistic services to their clients. In 2006, they formed
it into Private limited company under Indian Companies Act, 1956 as Subject.
Under the able guidance of their founder - Mr. Vishal Malik, they strive to
offer their clients all the services, which satiate their requirements for
logistics and freight forwarding. They ensure that all their shipment services
are in sync with the requirements of their clients and are delivered at the
best possible prices. With time they have developed their expertise in catering
to their clients for an array of logistic and freight forwarding services with
complete reliability and flexibility. Further, they make sure that all the
services are executed with complete transparency while incorporating business
ethics and morals in the execution process. Quality has been the most important
parameter for them since the inception of their company. Professionalism,
safety and satisfaction are their management philosophies. Their experience,
innovation and above all the commitment to deliver as promised has enabled them
to be one of the most trusted integrated transportation solution providers in
the country. Their prime motive is to provide their customers an efficient
supply chain that enables them to deliver exceptional customer services at the
lowest total cost.
Services
Portfolio
They have proper arrangements to have the consignments
picked up from and delivered at their client's door step. With a widespread
network of global operators, they ensure to make safe and dependable deliveries
of their client's consignment to distant lands. Their services include
comprehensive range of Logistic Services, Shipping Agents, Transportation Services,
Packers and Movers, Custom Clearing Agents, Warehousing and Distribution, Air
Sea Cargo, International Trade Forwarders, Contractual Rates and Export Import
Consultant. Highlights of Their Services:
Facility of door-to-door pickup and drop
- 24x7 pick up and drop facility
- Large network spread across the domestic as well as international
territory
- Complete reliability of the services
- Well planned
- Well managed
Value
Added Services
They are one of the best advisors and consultants for
shipments and others pertaining to establishing various inland depots and
clearing offices. Their aim lies in meeting with each of the demand of their
client and even assisting them in terms of:
- Freight Forwarding and Brokerage
- Customs Clearance FCL (full container load), LCL (less than
container load)
- Air and Sea Cargo Consolidation (Exports and Imports)
- Warehouse and Distribution facility
- Transportation for expeditious movement of cargoes from ICD's
gateway ports
- Tracking of shipments, The company effectively co-ordinates with
various nodal agencies.
- Door-to-door Pick up and Deliveries
- Handling and Delivery Agents for shipping lines and international
freight forwarders / NVOCC
- Handling Agents for Exports Shipments/ Nominated.
- Handling/delivery Agent for Import Shipments, of Forwarding/ SOC
shipments
- Booking the containers SOC as per the mentioned instructions to the
specified destinations.
- Collecting the freight and charges manifested/ instructed
- Remitting the charges with 48 hrs of the collection
- Inspecting and giving the status to nominated shipments
- Vendor development/ Vendor /product stheirce/ Inspection etc
Methodology
A very systematic approach is applied to their work process
so as to ensure flawless execution. Following are some of the steps they
follow:
- Understanding client’s demand
- Paper work and required legal documentation followed
- Custom Verification
- Checking of the shipments in terms of packing
- Safe loading and unloading
- Abide by all the custom rules and regulations
- Deliver world class services, with team spirit.
- Ethical code of conduct with due respect to all
- Confidential and high quality services
- Transparency with their customers, agents and principals
- Committed to International Quality Standards
- Constant innovation and creations
- Technological Driven Company gaining customers delight
Distribution
Network
They provide single-window logistic solutions for imports and
exports to all their valued clientele and their demonstration to commitment is
clearly visible through their wide distribution network.
Providing ultimate solution to logistics needs of their clients, they have
become a reckoned name in the industry. Their success in the sphere could be
credited to wide network of their offices spread in Calcutta, New Delhi,
Chennai, Mumbai, Bangalore, Cochin, Tripur, Tuticorin, Karur and Coimbatore.
Based at Ludhiana and possessing branch offices at various locations of India,
they have been able to cater to the requirements of their clients in best
possible manner within a stipulated time frame. Strategically located offices
and wide spread distribution networks have acquired them a long list of
satisfied clients and have made them achieve maximum satisfaction.
Domain
Expertise
Over the years operating in this domain, they have acquired
complete understanding of the legal formalities, which are required to
undertake several activities constituting under this domain. They have complete
understanding and knowledge of the custom cats, which are prevalent in the
country and are aware of the rules of shipment, landing, warehousing and
custody of consignments. Leveraging on their domain expertise, they make sure
that all the legal formalities are duly completed on the grounds of mutual
agreement. Further, they also take care that all the documents are duly
prepared and copies maintained to be sent to the clients if required. They have
reliable relationships with certain shipping partners who provide them
effective support in catering to major business houses from all parts of the
globe, offering them highly professional services in Imports and Exports
clearing and forwarding. Some of the leading shipping partners working with
them are:
· American President Lines (APL)
· Maersk Line
· Orient Overseas Container Line
· Hapag-Lloyd
· NYK
· ANL subsidiary of (CMA-CGM)
· United Arab Shipping Co.
· Senator Lines Gmbh and many more....
Dedicated
Team
They are assisted by a team of experienced personnel who
undertake each activity with full responsibility and commitment. With them,
they have a pool of logistics and transportation personnel, sales and marketing
representatives, forwarding experts and arrangements with the Warehouses and
Rail Companies for expeditious movement and efficient handling and storage.
Their team of efficient and skilled personnel is experienced in handling of
consignment, warehousing and packaging. In addition to these activities, their
team is also experienced and holds expertise in other basic domain activities
in which they are involved such as transport insurance, legal formalities for
bonded warehousing and various other logistic as well as freight forwarding
services. With complete awareness in the activities, their team is required to
perform, it ensures to serve their clients in all possible manners. Further,
monitoring each activity personally, they ensure that their team handles each
activity with complete accuracy within a desired frame of time.
Disclaimer
Under no circumstances shall this catalogue/ website
constitute a binding agreement to carry or for provision of carriage services
by Subject, which is subject to the availability of service equipment, flights
and vessel sailings, government policies and regulations, force majors and the
terms and conditions of Subject and their associates/agent's standard bill of
lading, which is available on request.
Logistic
Services
They are facilitating their customers with logistic services,
which enable their clients in getting the shipment in time. These services
involve handling of shipping lines and international logistics and can be
customized as per the specifications of their clients.
An ample industrial experience has made them a leading name
engaged in providing effective logistic services. These can be customized as
per the specifications of their clients with assured on time delivery at the
desired destinations. They handle each minute detail with utmost care such as
arranging custom clearing and documenting part and provide quality service in
carting and receiving of goods.
Shipping
Agents
Leveraging on their well established relationships with
widespread C and F agents, they have become one of the leading Shipping Agents.
For prompt and efficient delivery of the products, they help the clients in
clearing all the documentation papers and also help in faster delivery of the
goods to any destination across the globe.
They are one of the reckoned shipping agents capable of supplying
bulk orders of the clients in short span of time. For prompt and efficient
delivery of the products, they help their clients in clearing all the
documentation papers and also help in faster delivery of the goods to any
destination in the world.
As a leading shipping agent, they offer
following advantage them services:
· Competitive freight rates
· Competitive insurance premiums
· Reduced risk of pilferage
· Reduced packing cost
Transportation
Services
Their Transportation Services are managed by a team of
trained staff, who has considerable experience in their respective fields.
Since, their endeavor is absolute customer satisfaction, they have trained and
expert drivers for respective vehicles. They continually strive to provide
improved services to their customers– be it the transportation of household
goods, corporate goods, commercial goods, cars and bulk cargo etc.
They aim at providing top notch Transportation Services to
their customers and satisfy them to maximum extent. With their accomplished
supply chain, they have been able to establish their identity from being a
business to prosperous in business. To optimize customer's demand, they have
developed their infrastructure with all latest technologies.
Packers
and Movers
They are a reckoned Packers and Movers engaged in providing
effective services to their clients. Right from packing the material till final
dispatch at the desired location, these services involve each minute step that
leads to the maximum satisfaction to their clients. Further, assuring proper
safety of the packed goods and material.
Packers
and Movers
They offer full comprehensive door to door Packing and
Moving services with a personal touch. After pioneering the concept of national
door to door movement and with the backing of the best corporate clients of
this country, they are now offering international personalized door to door
services comparable to the best in Industry.
Custom
Clearing Agents
They specialize as Custom Clearing Agents assisting their
clients in providing intensive and equally exclusive service of Custom
Clearing. Being reliable and highly efficient, these services have helped us in
achieving maximum client satisfaction.
Custom
Clearing Agents
Following industrial standards, they are engaged in providing
custom clearing services to their clients. Leveraging on the industrial
knowledge of their experts, they have been able to offer reliable and effective
services which includes speedy clearance of all the goods, right delivery and
other features.
Warehousing
and Distribution
Due to sincere efforts and hard work of their skilled
professionals, they have been able to offer effective Warehousing and
Distribution services to their clients. With modern facilities throughout the
region, extensive transportation fleet, comprehensive consolidations and
professional management, they have been able to carve a niche in the market.
Warehousing
and Distribution
Equipped with properly arranged warehouses across the
country, they have been able to offer effective Warehousing and Distribution
services to their clients. The warehousing services provided by them offer
timely pick up and cost effective deliveries to their global clients. Moreover,
with their experienced professionals, which are supported by their advanced
security and management systems, they provide best services to their clients.
Air /
Sea and Sea-air Cargo
Throughout their years of operation in the concerned sphere,
they have been able to come up with effective Air Sea Cargo services that meet
the exact requirements of their clients. They are fully equipped with documents
complying with the import-country regulations and letters of credit
requirements and have become a leader in the market.
Air
Sea Cargo
Complying with international Import-Country Regulations,
their wide range of Air Sea Cargo services are highly effective. Keeping their
selves updated on the progress of air shipments, they have been able to serve
their clients in best possible manner.
International
Freight Forwarders
Reckoned as one of the International Trade Forwarders, they
have been able to deliver world class services to their clients. They have
strong distribution network and their contractual rates make them a leading
choice amongst the clients.
International
Freight Forwarders
well established relationship with shipping lines and
contractual rates have led them in gaining a reputed position as International
freight Forwarders. Considering clients satisfaction as their prime duty, they
have been able to offer qualitative services to their clients.
Their Shipping Partners include:
· Safmarine Container Line
· Maersk Line
· Senator Line
· IRISL
· Mediterranean Shipping Company
· Emirates
· American President Lines
· ANL ( Subsidiary of CMA-CGM ) O O C Land many more
With Their Contractual Rates, they offer
Competitive freights for Export and Imports as per below
· INDIA-USA/Canada/Europe/Mediterranean-INDIA
·
Special Freight Arrangements from China, Fareast
Southeast Asia, Middle East/Gulf to India and worldwide.
Transport Contracts For Door Pick ups and Deliveries all over India, Europe,
USA Canada, Far eastern /Middle
· Eastern/Gulf Countries.
Export
Import Consultant
They have a team of experienced professionals who have
in-depth knowledge of the export and import terms and conditions and assist
them in providing Export Import Consultancy services to their clients.
Personalized and flexible, these services can be customized as per the
specifications of their clients.
Export
Import Consultant
They are one of the leading Export Import Consultants
assisting their clients in providing effective logistic services. These
services are planned and managed in accordance with the needs of their clients
and includes all the aspects of export and import such as obtaining export/import
licenses, central excise registration, refunds, bonds, proof of export, customs
export / import clearances and many more.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheirces including
but not limited to: The Ctheirts, 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 :
Their
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.
Their 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.46.68 |
|
UK Pound |
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.65.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
30 |
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
unfavtheirable 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 |
Unfavtheirable & favtheirable 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 |
|