MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEO TELE -TRONIX
PRIVATE LIMITED |
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Registered Office : |
6/7, Bijoygarh,
Kolkata-700032, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
31.01.1975 |
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Com. Reg. No.: |
21-29848 |
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CIN No.: [Company
Identification No.] |
U32109WB1975PTC029848 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALN01900D |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer of
Electrical Test and Measuring Instruments |
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 7000 |
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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 company having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are usually correct and as
per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Arijit
Basuray |
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Designation : |
Technical
Director |
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Date : |
19.09.2008 |
LOCATIONS
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Registered Office : |
6/7, Bijoygarh,
Kolkata-700032, West Bengal, India |
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Tel. No.: |
91-33-24131549 /
0936 / 2477 3126 / 2403 |
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Mobile No.: |
91-9831927749
(Mr. Arijit Basuray) |
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Fax No.: |
91-33-24131549 /
2477 2403 |
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E-Mail : |
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Website : |
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Area : |
750 sq. ft. |
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Location : |
Rented |
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Head Office/ Factory / Warehouse : |
117, Mishra Para Road,
Rathtala, P O Rajpur, Kolkata-7000149, West Bengal, India |
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Tel. No.: |
91-33-2477 3126 /
2403 |
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Fax No.: |
91-33-2477 2403 /
2413 1549 |
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E-Mail : |
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Website : |
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Area: |
14000 Sq. Ft. /
1500 Sq.Mtrs |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Abhijit
Basuray |
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Designation : |
Managing
Director/ CEO |
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Address : |
6/7, Bijoygarh,
Kolkata-700032, West Bengal, India |
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Date of Birth/Age : |
11.06.1950 |
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Qualification : |
B. Com |
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Date of Appointment : |
30.10.1981 |
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Name : |
Mr. Arijit
Basuray |
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Designation : |
Technical
Director |
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Address: |
6/7 Bejoygarh LP
162/9/6, Kolkata – 700 032, Qwest Bengal, India |
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Date of Birth/Age : |
12.10.1955 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
03.10.1983 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Priyanath
Ghosh |
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10 |
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Mr. Indra Nathman
Ray |
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200 |
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Mr. Sumitabha
Basuray |
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160 |
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Mr. Arun Roy
Chaudhary |
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120 |
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Mr. Ajoy Basu Ray
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60 |
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Mr. Arijit
Basuray |
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12300 |
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Mr. Sujoy Bose |
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10 |
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Mr. Abhijit
Basuray |
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1220 |
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Mr. Subhijit
Chanda |
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10 |
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Others |
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130 |
Equity Share Breakup (Percentage of Total Equity):-
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Category (As on 31.03.2007) |
Percentage |
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Directors or relative of directors |
98.00 |
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Other top fifty (50) shareholders |
2.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Electrical Test and Measuring Instruments |
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Products : |
1. Relay and Secondary Current Injection
Test Set Ø
Different
types of Relay Test Set Ø
Variable
Frequency Source to test Frequency
Relay Ø
Time
Interval Meter (1 and 3 channel) Ø
Phase
Shifting Transformer 2. Current Injection Set Ø
AC Primary
Current Injection Set Ø
DC High
Current Low Voltage Test Set 3. Test Sets for Transformer Ø
Oil Test Set Ø
Transformer
turns Ratio Meter Ø
Double
Frequency Double Voltage Test Set Ø
AC High
Voltage Test Set Ø
Transformer
Winding Resistance Meter Ø
Tan-delta and
Resistivity Test Set for Insulating Oil Ø
Micro-Ohm
Meter Ø
No Load and
Load loss Test Bench Ø
Capacitance
and Tan-delta Test Set for HV Equipment Ø
Partial
Discharge Test Set Ø
Impulse
Voltage Generator Ø
Insulation
Resistance cum Polarisation Index Test Kit 4. Test Sets for Motor Ø Surge Comparison Test Set Ø Capacitance and Tan-dalta Test Set for HV Equipment Ø
Millivolt
Drop Test Set Ø
Insulation
Resistance cum Polarisation Index Test Kit Ø
Motor Test
Bench for No Load Test 5. High Voltage Test Set Ø AC High Voltage Test Set Ø DC High Voltage Test Set Ø
Oil Test Set Ø
AC High
Voltage Breakdown Test Set Ø
AC and DC
Combined High Voltage Test Set Ø
Partial
Discharge Test Set Ø
Capacitance
and Tan-dalta Test Set for HV Equipment Ø
High Voltage
Vacuum Test Set Ø
AC High Voltage
Spark Tester for Cable Ø
Different
Electrode and High Voltage Test Jig 6. High Voltage Measuring System Ø AC and DC High Voltage Measuring Kit Ø PT Operated High Voltage AC Measuring Set Ø High Voltage Potential Divider Ø Sphere Gap Assembly for High Voltage Measurement and other applications Ø Hot Line Indicator 7. Instrument
Transformer and Swetchgear Test Set Ø Instrument Transformer (CT and PT) Test Set Ø Standard Instrument, CT and PT Ø Burden Box for CT and PT Ø CT Knee Point Excitation Test Set Ø CT Excitation Current cum Ac High Voltage Test Set Ø Partial Discharge Test Set Ø Time Interval Meter (1and 3 channel) Ø
Circuit
Breaker Analyser Ø
Micro-Ohm
Meter Ø
Millivolt
Drop Test Set Ø
High Voltage
Vacuum Test Set 8. Meter Test Bench Ø Phantom Load Test Set Ø
Kwh Meter Test
Bench, 1 Phase and 3 Phase Ø
Phase
Shifter 9. Cable Test Set Ø AC High Voltage Test Set Ø DC High Voltage Test Set Ø
Cable Fault
Locator Ø
Capacitance
and Tan-dalta Test Set for HV Equipment Ø Partial Discharge Test Set Ø
Micro-Ohm
Meter Ø
AC Current
Injection Set Ø
Millivolt
Drop Test Set Ø
High Voltage
Spark Tester Cable Laboratory
Equipment for Research and Development Ø
Surge Tester Ø
High Voltage
Regulated Power Supply Ø
Pinhole
Tester Ø
Power
Thyristor Test Jig Ø
Capacitor
Discharge Unit Ø
Impulse
Current Generator Miscellaneous
Product Range Ø
High Voltage
Generator for Electrostatic application Ø
Battery
Charger Ø
Isolation
Transformer Ø
Special type
of Transformers and Indicators Ø
X-ray
Transformers Ø Brazing Transformers |
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Exports : |
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Countries : |
UAE, Malaysia,
Indonesia, Bangladesh, Bhutan, Jenya and Nepal, Pakistan and Turkey |
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Terms : |
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Selling : |
T/T, Cash and
Credit |
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Purchasing : |
L/C, Cash and
Credit |
GENERAL
INFORMATION
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Suppliers : |
Mainly buying from
Local Markets |
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Customers : |
Wholesalers,
Retailers, End Users, Manufacturers and Government Bodies Ø
ABB Limited Ø
Alsthom
India Limited Ø
Andrew Yule
and Company Limited Ø
Benares
Hindu University Ø
Bharat Heaby
Electricals Limited Ø
Bhilai Steel
Plant Ø
Birla
Industrial and Technology Museum Ø
BOC India
Limited Ø
Calcutta
University (Science College) Ø
Central
Power Research Institute Ø
CESC Limited Ø
Chhotanagpur
Rope Works Private Limited Ø
Damodar
Cements and Slag Limited Ø
Delhi
Electric Supply Undertaking Ø
Disergarh
Power Supply Company Limited Ø
Essar
Projects Limited Ø
Excide
Industries Limited Ø
Grasim
Industries Limited Ø
Hindustan
Copper Limited Ø
Hindustan
Petroleum Corporation Limited Ø
Indian
Association for the Cultivation of Science Ø
Indian
Oxygen Limited Ø
Indian
Railways Ø
Jadavpur
University Ø
Madhya
Pradesh Electricity Board Ø
Mahanadi
Coal Fields Limited Ø
Murshidabad
Zilla Parishad Ø
Nagarjuna
Fertislizers and Chemicals Limited Ø
National
Thermal Power Corporation Limited Ø
Nicco
Corporation Limited Ø
Orient Paper
and Industries Ø
Orissa State
Electricity Board Ø
Paradip Port
Trust Ø
Power
Engineering Training Society Ø
Power Grid
Corporation of India Limited Ø
Ramman Hydel
Projects Ø
Reliance
Energy Limited Ø
Saha
Institute of Nuclear Physics Ø
The Tata
Iron and Steel Company Limited Ø
Tata
Metalics Limited Ø
Tata
Projects Limited Ø
Usha Martin
Industries Ø
Vishakapatnam
Steel Plant Ø
West Bengal
State Electricity Board Ø
West Bengal
Power Development Corporation Limited Ø
Adex
Corporation Limited, Bangladesh Ø
Bengal Small
Transformer Project, Bhutan Ø
Electro
Venture Limited, Bangladesh Ø
Mariakani,
Kenya Ø
Meghna Meter
Industries, Bangladesh Ø
Mobati
Rolling Mills Limited Ø
Mudbhary and
Joshi Construction Private Limited, Nepal Ø
Mudbhary and
Joshi Trade Link Private Limited, Nepal Ø
R K
International, Nepal Ø Shakti Engineering Limited, Bangladesh |
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No. of Employees : |
30 |
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Bankers : |
United Bank of
India Address 1: 16, Hemant Basy Saranu (Formerly Old
Court House Street), Kolkata-700001, West Bengal, India Address 2 : Old Court House Street |
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Facilities : |
C/C Rs. 15.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B. N. Sen &
Company Chartered
Accountants |
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Address: |
8/2, Kiron Sankar
Roy Road, 2nd Floor, R No. 9, Kolkata-700001, West Bengal, India |
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Tel No. : |
91-33-2248553 |
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Associates/Subsidiaries : |
· Steelwave · Amnroy Industries |
CAPITAL STRUCTURE
(As on 31.03.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/-each |
Rs.0.500 million |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
31500 |
Equity Shares |
Rs.10/-each |
Rs.0.315 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.315 |
0.315 |
0.315 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.931 |
0.828 |
0.714 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.246 |
1.143 |
1.029 |
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LOAN FUNDS |
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1] Secured Loans |
0.142 |
0.296 |
1.518 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.015 |
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TOTAL BORROWING |
0.142 |
0.296 |
1.533 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.388 |
1.439 |
2.562 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.579 |
1.506 |
1.183 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.538
|
0.203 |
0.607 |
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Sundry Debtors |
1.652
|
4.326 |
3.005 |
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Cash & Bank Balances |
1.942
|
0.043 |
0.004 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.896
|
0.590 |
0.507 |
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Total Current Assets |
5.028
|
5.162 |
4.123 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
4.954
|
5.075 |
2.650 |
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Provisions |
0.265
|
0.154 |
0.094 |
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Total Current Liabilities |
5.219
|
5.229 |
2.744 |
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Net Current Assets |
[0.191]
|
[0.067] |
1.379 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.388 |
1.439 |
2.562 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
9.864 |
13.439 |
7.185 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
9.864 |
13.439 |
7.185 |
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Profit/(Loss) Before Tax |
0.213 |
0.203 |
0.072 |
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Provision for Taxation |
0.111 |
0.064 |
0.026 |
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Profit/(Loss) After Tax |
0.102 |
0.139 |
0.098 |
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Total Expenditure |
9.651 |
13.236 |
7.113 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.03
|
1.03 |
1.36 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.16
|
1.51 |
1.00 |
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Return on Total
Assets (PBT/Total Assets} |
(%) |
3.23
|
3.04 |
1.36 |
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Return on
Investment (ROI) (PBT/Networth) |
|
0.17
|
0.18 |
0.07 |
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Debt Equity Ratio (Total
Liability/Networth) |
|
4.30
|
4.83 |
4.16 |
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Current Ratio (Current Asset/Current
Liability) |
|
0.96
|
0.99 |
1.50 |
LOCAL AGENCY
FURTHER INFORMATION
TRAde references:-
· Siemens
· National Test House
· Batel Eelctro Technique, Turkey
WebSite Details:
They make products in
many of the industries, educational laboratories, particularly in places where
productive equipment for scientific applications are essential.
Today, Test and
Measuring Equipment are undeniable, for ensuring the safety and quality of
materials in every respect. They perform an indispensable role to enrich the
quality standards, thereby putting positive impact in every corner of their
lives. The good reputation of testing machinery is attributable to looking
forward technologies, which provide a firm foundation.
The companies have
the most pertinent features, performance and reliability to be used in
different working conditions all at the lowest possible price.
Apart from
providing after sales and service, customer also gets technical support to
avail of the maximum implementation of their product.
To optimise the
systems as per their customer’s needs, their quest for finest technology has
accounted to expand the spectrum of their product range, its related
technology, thereby strengthening the in- house R and D division.
Prof. M. N. Roy,
founder of this organisation was an eminent Applied Physicist. In his early
career he pioneered design and manufacturing of transformer in India. Later he
joined the department of Applied Physics Calcutta University and gradually
opened new dimensions in teaching Electrical Technology and Control
Engineering. Throughout his life he encouraged his students to practice
innovative engineering.
In the year 1976,
after his retirement he founded NEO TELE- TRONIX PRIVATE LIMITED, better known
as NTPL which has now established itself as a leading manufacturer of
Electrical and Electronic Test and Measuring Equipment.
The company well known as "NTPL", was founded in the year 1975
by Prof. M.N. Ray (Manindra Nath Ray).
The company is a reputed house engaged in manufacturing Electrical Test and
measuring equipments.
Throughout the years, subject has manufactured different types of test and
measuring equipments to cater to various categories of Industries, Power
sectors, project work, Educational institutes, Laboratories, etc. Some of these
products are widely popular and have been efficiently being used for years.
Product Range :
· Relay and Secondary current injection test set.
· Variable frequency source to test frequency relay.
· Time interval meter (1 and 3 channel).
· Phase shifting transformer.
· Universal voltage source.
Current Injection Set :
· AC Primary current injection set.
· DC High current low voltage set.
Tests Sets For Transformer :
· Oil test set.
· Transformer turn ratio meter.
· Double frequency double voltage test set.
· AC High voltage test set.
· Tan-Delta and Resistivity test set for insulating oil.
· Transformer winding resistance meter.
· Microohm - Meter.
· No Load and Load Loss test bench.
· Capacitance and Tan-Delta test set for HV equipment.
· Partial discharge test set.
· Impulse voltage generator.
· Insulation resistance cum polarization index test kit.
Test Set For Motor :
· Surge comparison test set.
· Capacitance and tan delta test set for HV equipment.
· Millivolt drop test set.
· Insulation resistance cum polarisation index test kit.
· Motor test bench for no: Test.
High Voltage Test Set :
· AC High voltage test set.
· DC high voltage test set.
· Oil test set.
· AC High voltage breakdown test set.
· AC and DC combined test set.
· Partial discharge test set.
· Faraday Cage.
· Capacitance and Tan - Delta test for equipment.
· High voltage vacuum test set.
· AC high voltage spark tester for cable.
· Different electrode and high voltage test JIG.
High Voltage Measuring System:
· AC and DC High voltage measuring Kit.
· PT operated high voltage AC measuring set.
· High voltage potential divider.
· Sphere GAP assembly for high voltage measurement and other applications.
· Hot line indicator.
Meter Test Bench :
· Phantom Load test set.
· KWH Meter test bench - 1 PH.
· KWH Meter test bench - 3PH. / 1PH.
· Phase Shifter.
Instrument Transformer and Switchgear Test Set :
· Instrument Transformer (CT and PT) test set.
· Standard instrument, CT and PT.
· Burden box for CT and PT.
· CT knee point excitation test set.
· CT excitation current cum AC High voltage test set.
· Partial discharge test set.
· Faraday cage.
· Time interval meter (1 and 3 channel).
· Circuit breaker analyzer.
· Relay test set and secondary injection set.
· AC Primary current injection set.
· Microohm - Meter.
· Millivolt drop test set.
· High voltage vacuum test set.
Cable Test Set :
· AC High voltage test set.
· DC High voltage test set.
· Cable fault locator.
· Capacitance and Tan - Delta Test set for HV equipment.
· Partial discharge test set.
· Faraday Cage.
· Microohm - Meter.
· AC current injection set.
· Millivolt drop test set.
· AC High voltage spark tester for cable.
Laboratory Equipment For Research and Development :
· Surge Tester.
· High voltage regulated power supply.
· Pinhole tester.
· Power thyristor test JIG.
· Capacitor discharge unit.
· Impulse current generator.
Miscellaneous Product Range :
· High voltage generator for electrostatic application.
· Battery charger.
· Isolation transformer.
· Special type of transformers and inductors.
· X-Ray transformers.
· Brazing Transformer.
Apart from manufacturing the above mentioned
test sets, they also manufacture equipments according to specific requirements
of the
customers.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.32 |
|
UK Pound |
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|