MIRA
INFORM REPORT
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Report Date : |
24.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
E LOCKAIR AG ENGINEERS |
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Registered Office : |
No. 20, 2nd Cross, Kannuramma Layout, RMV 2nd Stage
Devinagar Post, Bangalore – 560 094, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2004 |
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PAN No.: [Permanent
Account No.] |
ATMPM2410P |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporters of products such as Air Curtains, PVC Strip
Curtain / Door, Fly Catcher, Hand Drier,
Sensor Washroom Products,
Rapid Auto Roll Door, Ezhaust Fans, etc. |
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 7500 |
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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 marketing organisation. It’s trade relations
are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. Nothing adverse reported. |
LOCATIONS
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Registered Office/ Factory : |
No. 20, 2nd Cross, Kannuramma Layout, RMV 2nd
Stage Devinagar Post, Bangalore – 560 094, Karnataka, India |
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Tel. No.: |
91-80-23418700 / 23411195 |
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Mobile No.: |
91-9341215382 |
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Fax No.: |
91-80-23418722 |
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E-Mail : |
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Area : |
1000 Sq.fts (Factory) |
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Location : |
Owned (Factory) |
SOLE PROPRIETOR
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Name : |
Mr. K M Raju |
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Designation : |
Proprietor |
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Date of Birth/Age : |
39 years |
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Qualification : |
Engineers |
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Experience : |
15 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of products such as Air Curtains, PVC Strip
Curtain / Door, Fly Catcher, Hand Drier,
Sensor Washroom Products, Rapid
Auto Roll Door, Ezhaust Fans, etc. |
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Products: |
· Air Curtains · PVC Strip Curtains and Doors · Hand Dryers · Sensor Taps · Paper Dispensers · Soap and Perfume Dispensers · Shoe Shine Machine · Urinal and Toilet Flusher |
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Exports : |
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Countries : |
African Countries |
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Imports : |
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Countries : |
Malaysia |
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Terms : |
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Selling : |
Advance Payment, W/T |
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Purchasing : |
T/T, Credit (30 days) |
GENERAL
INFORMATION
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Suppliers : |
· Buildtech Industries, Gurgaon · Pioneer Ploy Plast , Gandhinagar · Agarwal Trade Center, Hyderabad |
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Customers : |
· ITC Limited · Jindal Steel and Power Company Limited · Hindustan Aeronautics Limited |
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No. of Employees : |
5 |
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Bankers : |
Karnataka Bank Limited, Sanjay Nagar,
Bangalore – 560 094, Karnataka, India |
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Facilities : |
Operating on Own Funds |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Shivaram and Associates Chartered Accountants |
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Address : |
Bangalore, Karnataka, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
---- |
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Total : |
Rs. 1.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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6.500 |
4.800 |
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Profit/Loss for the year |
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About 10% |
About 10% |
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Import Value |
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2.800 |
1.500 |
Average Value of Inventories at Any Given Time: Rs. 5.000 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 |
E LOCKAIR AG ENGINEERS |
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Address |
No. 20, 3Rd Cross, Kannuramma Layout, RMV 2nd
Stage Devinagar Post, Bangalore – 560 094, Karnataka, India |
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Phone Numbers |
91-80-23418700 |
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Mobile Numbers |
91-9341215382 |
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Fax Number |
91-22-23418722 |
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Electricity Bill |
C 4 P 3468 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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Income Tax Registration |
ATMPM2410P |
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VAT / TIN Registration |
29810220581 |
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Name of Bank |
Karnataka Bank Limited |
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Current account Number |
237 |
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Account Since |
4 years |
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Creditability Factors |
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India Mart Client Since |
2 years |
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Years of Establishment |
2004 |
WEBSITE DETAILS:-
Subject was established in the year 2004 at Bangalore, Karnataka with the aptitude
to earn high appreciation from different corners of the industry. Their
impeccable product range consists of Air
Curtains, PVC Strip Curtains and Doors, Hand Dryers, Sensor Taps, Paper
Dispensers, Soap and perfume Dispensers, Shoe Shine Machine, Auto Urinal and
Toilet Flusher etc.
The pioneer of their concern, Mr. K.M
Raju, who have extensive industry experience and administer the entire
business activities under his able guidance. The proven expertise of their
workforce and implicit range of machinery and other processes equipments have
assist them in developing and designing high precious range of flawless end
products. Leveraging on their internal resources and their judicious
exploitation enable them present customized range of end products, which can successfully
meet the specific requirements of their reputed clients.
Product Profile
They are well known for offering products
with engineering finishes, embellished style, superior quality etc. bring
immense satisfaction of their reputed clients and avail them to get back the
maximum return of their investment. To retain their proven superior quality
standards, they use premium range of raw materials including Crca sheets,
Stainless Steel Sheets etc. Their products are used in multiple paces including
offices, public wash rooms, toilets, multistories buildings, shopping malls,
Food Industries, Pharma Industry etc.
They offer these products in cost effective range and can be availed in a wide
spectrum of colors, design and patterns.
Promoter
They, E Lock Air AG Engineer were
incepted in the year 2004 at Bangalore under the able auspices of Mr.
K.M.Raju. He has immense industry experience and before incepting the
business, he successfully executed several professional responsibilities for
seven years. He has pursued the diploma in Mechanical Engineering from well
reputed university. His well versed industry knowledge and sound
entrepreneurship skills always lead them in the right direction.
Product Customization
They develop and design a comprehensive plan
for bringing customization in their entire product assortment. In this regard,
they get immense assistance of their extensive experienced and skilled design
engineers and other allied personnel. They impart varied international standard
design specification on their products and make them perfect fit in accordance
with the dynamic market requirements.
Quality
They have established certain quality norms
as per some approved standards for manufacturing superior quality products.
Their quality norms come under the Quality Management Policy which have been
developed and designed by quality experts who keep a rigorous vigil on various
quality attributes. They have inestimable quest for perfection, which is well
reflected from their standard products quality.
To ensure high durable range of quality products, they have set up a prolonged
quality checking system which constitute of receiving stage, in-process stage
and the finish stage. Their quality inspectors also check the quality
specifications of the raw materials while procuring them. All these efforts
collectively ensure them in manufacturing flawless range of customized
products.
Infrastructure
They have a well fabricated and high
efficient manufacturing unit located in Bangalore. This manufacturing unit is
spread over an area of 1000 square feet and consist all types of latest
technological machinery and other allied equipments. They also incorporate
outsourced manufacturing facilities, which also assist them to know about newer
and different types of production processes.
They usually outsourced manufacturing facilities for fabrication of outer
castings. The entire range of their machinery is highly efficient, having high
productivity and fuel efficient and these are controlled by experts and
professionals.
Team
Their team comprises of 23 professional
personnel, who have immense industry experience and they are all well versed in
their respective areas. Their high industry in-sights assist them in making various
plan in advance and later on these are proved extremely beneficial for the
overall betterment of their business. The principle aim of all these personnel
is to bring more efficiency and excellency in their performance with higher
degree of transparency. To keep them abreast with the changing trends of the
industry, they provide them regular skill up-gradation training.
Research and Development
Their research and development team and its
personnel monitor various research oriented activities and develop new
innovative range of product development criteria. They vigorously research
various market trends and forecast valuable informations, which further aide
them in enhancing their expertise and product designing specifications. Their
new and excellent ideas keep them abreast as per their immense reputation and
also assist them the changing needs and requirements of the clients.
Patrons
They always keep their selves abreast with
the recent and prevailing market developments that enable them to pamper the
professional relationships with their partners, clients, loaders etc. This
again assists them to meet the predefined delivery schedules even in
challenging market conditions. This empower them to cater a wide spectrum of
reputed clients that are spread across the length and breadth of India. Some of
their reputed clients are:
·
Heavy Aluminum Limited (HAL)
·
ITC Limited
·
Jindal Group
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.45.72 |
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UK Pound |
1 |
Rs.84.81 |
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Euro |
1 |
Rs.67.60 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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