MIRA
INFORM REPORT
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Report Date : |
12.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
D C METAL CORPORATION |
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Registered Office : |
B-5/6, Pravasi Industrial Estate, Off Aarey Road, Goregaon
(East), Mumbai - 400 001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1996 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD00588A |
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PAN No.: [Permanent
Account No.] |
AAAFD2520L / AAAFC2520L |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer of Copper
Component |
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 15000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established traders. Trade relations are fair.
Payments are slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajesh Jain |
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Designation : |
Partner |
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Contact No.: |
91-9820638623 |
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Date : |
28.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
B-5/6, Pravasi Industrial Estate, Off Aarey Road, Goregaon
(East), Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-66921437 |
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E-Mail : |
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Website : |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. G K Jain |
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Designation : |
Partner |
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Age : |
65 years |
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Qualification : |
S.S.C |
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Name : |
Mr. K G Jain |
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Designation : |
Partner |
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Age : |
62 years |
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Qualification : |
VIIIth Pass |
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Name : |
Mr. Rajesh Jain |
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Designation : |
Partner |
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Age : |
34 years |
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Qualification : |
B.E. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Copper
Component |
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Products : |
· Copper Strips · Copper Flats · Copper Lugs · Copper Rods · Copper Tubes · Sub Assemblies · Precision Press Parts · Machined Components |
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Exports : |
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Products : |
Copper Products |
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Countries : |
UK, USA, Australia |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
OEM’s, End Users |
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No. of Employees : |
13 |
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Bankers : |
State Bank of India, Goregaon (West), Mumbai – 400 062, Maharashtra,
India |
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Facilities : |
Cash Credit upto – Rs. 5.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chajjet Doshi Chartered Accountants |
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Address : |
Prabhadevi Road, Loonawat |
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Associates/Subsidiaries : |
K C Metals Industries Address : Building No. 3,
Gala No. 2 and 5, Ram Mandir Road, Goregaon
(East), Mumbai – 400 063, Maharashtra, India
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions (Estimated) |
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Borrowed : |
--- |
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Total : |
Rs. 3.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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47.500 |
Expected Sales (2008-09): Rs.55.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
D C METAL CORPORATION |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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VAT / TIN Registration |
27800008529v
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Import Export Code |
0302071601 |
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Name of Bank |
State Bank of India |
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Current account Number |
101306663158 |
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Standards and Certifications |
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ISO Certificate |
26648 Dated of Issue : 03.02.2003 |
TRADE REFERNECE:-
· Larsen and Toubro
· Seimens Limited
WEBSITE DETAILs:-
Concern Profile:-
Their founder Mr. Rajesh Jain, realized his vision of establishing a
world class copper component manufacturing concern in the year 1996. He, with
his vast industry experience of 20 years and visionary leadership, laid the
foundation of their organization which has now emerged at the fore front of the
industry.
They have established an advanced and sophisticated manufacturing plant in
Mumbai. They understand and fulfill with promptness to the changing demands of
the industry.
Their firm determination to become “the best” in the industry has been achieved
through their total dedication to the work and strict adherence to quality and fair
business ethics. They have achieved an impressive growth rate with the support
of a highly talented and motivated professional team.
They enjoy a loyal, vast and permanent customer base spread across India,
Middle East and UK. They continually improve their production processes and
work environment through total customer satisfaction.
Well Established
Infrastructure
Their infrastructure comprises of a state-of-the-art manufacturing plant
in Goregaon(W), Mumbai which is the hottest commercial and industrial hub of
India. They have ultra modern manufacturing machines like Lathe Machines,
Grinders, Bending Machines, Cutting Machines and Drilling Machines installed
there.
Their Infrastructural capabilities are best in the industry and have empowered
them to meet the bulk order demands within scheduled time frame and customize
their products as per clients' requirements.
They serve a vast spectrum of industries with the help of their strengths in
designing, tooling and fabricating the products under one roof. Owing to their
abilities, they are revered as the most reliable manufacturer and exporter with
unmatched global repute.
World Class
Quality
Their quality control and testing facilities are designed as per
international norms and regulations. They have also applied for the coveted ISO
9001:2000 certification. A sophisticated quality testing unit which is fully
equipped to test the incoming raw material, products designs and manufacturing
and finished products.
They endeavor to achieve highest standards of quality, which exceed the
expectations of their customers.
Each and every phase of the manufacturing process is professionally manned by
experts who closely supervise and monitor the process from the procurement of
world class raw material to ensuring timely delivery of copper components. All
the work is conducted as per their customers' stipulated specification.
Efforts for
Innovation
They are constantly working on development of new products and for
upgradation of existing product range through their research and development
activities. They believe that every industry is different and each client has
needs which are very specific. They undertake research against these specific
problems of their clients and offer them best solution.
Engineering is all about the level of performance that the product offers,
hence they, at the concernl, develop and design high tech copper components and
products which give performance par excellence. Their research team is engaged
in research work to develop better technologies to improve the product quality
and performance level.
Talented Team
They take pride in having a team of extremely talented, dedicated and
professional engineers. They have vast experience of the industry and
understand its trends, norms and nuances. Their sheer engineering intelligence
has contributed in their success over the years.
Their team also comprises of quality, research, sales, administration and
marketing experts who are well versed with the industry. They share a
harmonious relation with their team and other employees and are dedicated for
their welfare.
Clientele
Their unshakable commitment for quality, a dedicated work force, sound
infrastructure and budgetary prices have tremendously helped them in making a
mutually beneficial business relations with their esteemed clients.
Their comprehensive list of clients include customers from India, UK and Middle
East. Their fair business ethics and transparency in deals have contributed in
establishing an unmatched bondage between them. All their efforts are directed
towards satisfying their clients with top quality products.
They have been manufacturing leading-edge copper products for their
esteemed clients by blending hi-tech production techniques with innovation.
Their focus is to continually manufacture very best of the products for their
clients and their end-users.
Such working attitude reflects in their entire operations and services, which
assist them in finding long lasting relations with their clients for a mutual
growth. They are serving an ever-growing clientèle worldwide.
Infrastructure
Facility
Their state-of-the-art manufacturing unit is located at Goregaon (W),
Mumbai, the major commercial and industrial hub of the country. It boasts a perfect
blend of sophisticated machineries and talented workforce. They have ultra
modern manufacturing machineries like Lathe Machines, Grinders, Bending
Machines, Cutting Machines and Drilling Machines. These machines are capable of
manufacturing bulk products with utmost precision in a shortest turn around
time. They also have a separate designing unit is equipped with latest software
such as CAD and CAM that enables them conceptualize the idea of the clients and
manufacture products exactly as per their specifications.
Their manufacturing facility is backed by a team of quality control
professionals and diligent worker, who are committed to manufacture a flawless
range of products. With an excellent infrastructural base, they are expertise
in designing, tooling and fabricating a wide range of copper products under a
single roof.
Packaging
They understand that packaging is one of the most important requirement
for maintaining the quality of the product during transit. Therefore, they have
installed latest packaging machineries to ensure proper packaging of the
products. The complete process of packaging is carried under the strict
supervision of trained professionals following a standard packaging method.
They only use best quality of packaging materials to prevent products from any
kind of damage or deformation during loading and unloading process. Depending
on delivery form and request by the buyer, the copper components are packed in
cardboard boxes, on cardboard LW spools, in wooden cases or in bundles
protected with PVC foil.
CMT REPORT
(Corruption, Money Laundering and 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 concern 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 concern’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.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
SCORE and 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 |
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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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 and 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 and 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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