MIRA
INFORM REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Name : |
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
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Area Management Office : |
5th Floor, 52/60, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
01.01.1900 |
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FCRN : |
F00947 |
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Legal Form : |
Foreign Registered Bank. |
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Line of Business : |
Banking Activities |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (80) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed bank having fine track.
Fundamentals are strong and healthy. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The bank can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
Management Non Co-operative
LOCATIONS
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Registered Office : |
5th Floor, 52/60, |
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Tel. No.: |
91-22-22685555/ 40891300 |
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Fax No.: |
91-22-22658309 |
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E-Mail : |
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HSBC Group Head Office : |
HSBC Holding PLC, 8, |
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Tel. No.: |
+ 44-20-79918888 |
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Corporate Banking : |
Mumbai Telephone : 91 22 2268 1091 Kolkata Telephone : 91 33 2254 2063 Telephone : 91 012 4418 2102 Chennai Telephone : 91 44 4391 2005 Telephone : 91 80 2500 2002 |
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Institutional Banking : |
Mumbai Telephone : 91 22 2268 1017 Telephone : 91 11 4159 2290 Chennai Telephone : 91 44 4391 2016 |
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Treasury : |
Mumbai Telephone : 91 22 2268 5588 Toll -free : 1800 229876 |
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HSBC Securities Services : |
Mumbai Telephone : 91 22 4035 7471 |
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Located at: ·
Mumbai (Main Branch) ·
Andheri ·
Bandra ·
Borivli ·
Chembur ·
Juhu Vile Parle ·
Lokhandwala ·
Pedder road ·
Powai ·
Thane ·
Ahmedabad ·
Pune ·
Shivaji Nagar ·
Vadodara ·
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Located at: ·
Kokkata (Main Branch) ·
Gariahat ·
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Itadanga ·
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New Alipore ·
Shakespeare Sarani ·
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Located at: ·
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Basans Lok ·
Greater Kailash I ·
South Extension ·
Gurgaon ·
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Noida ·
Jaipur ·
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Punjabi Bagh ·
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Located at: ·
Chennai (Main Branch) ·
Adyar ·
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DIRECTORS
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Name : |
Mr. Stuart A Davis |
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Designation : |
Chief Executive Officer, INM |
KEY EXECUTIVES
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Name : |
Mr. Richard Collie |
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Designation : |
Chief Financial Officers |
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Name : |
Mr. Hitendra Dave |
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Designation : |
Head of Global Markets |
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Name : |
Mr. Ganesh Bharadhwaj |
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Designation : |
Head of Personal Financial Services |
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Name : |
Mr. Puneet Chaddha |
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Designation : |
Head of Commercial Banking |
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Name : |
TBC |
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Designation : |
Head of Global Banking |
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Name : |
Mr. Ramnath Krishnan |
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Designation : |
Head of Private Banking |
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Name : |
Mr. Ravi Menon |
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Designation : |
Head of Corporate Strategy and Development |
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Name : |
Ms. Naina Lal Kidwai |
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Designation : |
Country Head and Group General Manager |
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Name : |
Mr. David Boycott |
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Designation : |
Chief Risk Officer |
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Name : |
Mrs. Jasmine Batliwala |
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Designation : |
Head of Legal and Compliance |
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Name : |
Mr. Tanuj Kapilashrami |
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Designation : |
Head of Human Resources |
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Name : |
Mrs. Malini Thadani |
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Designation : |
Head of Group Communications and Coporate Sustainability |
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Name : |
Mrs. Maitri Kumar |
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Designation : |
Head of Marketing |
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Name : |
Mr. Davesh Mathur |
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Designation : |
Chief Technology and Services Officer |
BUSINESS DETAILS
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Line of Business : |
Banking Activities |
GENERAL INFORMATION
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No. of Employees : |
Information not divulged by the management |
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Bankers : |
Reserve Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Batliboi and Associates Chartered Accountant |
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Parent Company : |
The Hongkong and Shanghai Banking Corporation Limited, Hongkong |
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Ultimate Holding Company: |
HSBC Holding Plc Address: 8, Tel No.: + 44 (0) 20 - 79918888 |
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Associates/Subsidiaries : |
·
HSBC Securities and Capital Markets ( ·
HSBC Pragati Finance ( ·
HSBC Asset Management ( ·
HSBC Professional Services ( ·
HSBC Electronic Data Processing ( ·
HSBC Operations and Processing ·
HSBC Private Equity Advisors ( ·
HSBC Private Equity Management ( ·
HSBC
Software Development ( ·
HSBC Insurance Brokers ( ·
HSBC Financial Holding Private Limited ·
HSBC Consumer Services ( ·
Canara HSBC Oriental Bank of Commerce ·
Life Insurance Company Limited ·
HSBC Bank of ·
HSBC Bank ·
HSBC Private Banking Holdings ·
Republic (Suisse) SA ·
HSBC Republic Bank ( ·
HSBC Bank ·
Marine Midland Bank (HSBC Americas Inc) ·
HSBC Trinkaus and Burkhardt AG Address: Konigsallee 21-23, 40212 Tel No.: + 49 -211-9100 Fax No.: +49-211-910616 ·
British Arab Commercial Bank ·
HSBC Bank Mauritius Limited ·
HSBC Bank Australia Limited ·
HSBC Bank ·
HSBC Bank ·
SB HSBC Bank Kazakhistan JSC ·
HSBC Bank ·
HSBC Investments ( ·
Societe Marscillaise de credit ·
HSBC Bank International – ·
HSBC Address: 103, Avenue Dues Champs – Elysees, 75419, Tel No.: + 33-140-707040 Fax No.: + 33-140-707009 ·
HSBC Hervet ·
ILandFS Investsmart Limited ·
ILandFS Investsmart Securities Limited ·
Investsmart Financial Services Limited ·
ILandFS Investsmart Commodities Limited ·
ILandFS Investsmart Insurance Brokers Limited ·
ILandFS Investsmart Asia Pacific Private Limited ·
·
KP Corporate Solutions Limited ·
ILandFS Investsmart Insurance Brokers Limited ·
Investsmart Insurance Agency Private Limited ·
Peregrine Capital India Private Limited ·
ILandFS Investsmart Employee Welfare Trust – EWT. |
CAPITAL STRUCTURE
CAPITAL ACCOUNT
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Particulars |
31.03.2010 Rs. In Millions |
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I. Amount of deposit kept with the Reserve
Bank of |
13.933 |
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II. Capital |
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Opening Balance |
44.992 |
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Add: Capital Infusion by Head Office |
0.000 |
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Total |
44.992 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Amount of Deposits kept with Reserve Bank of |
13.933 |
10.783 |
7.783 |
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Capital |
44.992 |
44.992 |
30.598 |
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Reserve and Surplus |
76.361 |
67.151 |
53.990 |
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Deposits |
557.478 |
499.703 |
426.203 |
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Borrowings |
59.208 |
84.684 |
82.458 |
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Other Liabilities and Provisions |
166.215 |
249.674 |
165.957 |
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TOTAL |
904.254 |
946.204 |
759.206 |
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ASSETS |
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Cash and Bank Balances with
Reserve Bank of |
39.716 |
37.124 |
49.186 |
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Balances with Banks and money at call and short notice |
41.824 |
75.202 |
42.673 |
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Investments |
412.891 |
311.538 |
192.899 |
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Advances |
234.747 |
275.887 |
299.444 |
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Fixed Assets |
8.929 |
8.354 |
9.267 |
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Other Assets |
166.147 |
238.099 |
165.737 |
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TOTAL |
904.254 |
946.204 |
759.206 |
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Contingent Liabilities |
8509.535 |
8147.159 |
13239.358 |
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Bills for collection |
89.817 |
84.294 |
62.356 |
PROFIT & LOSS
ACCOUNT
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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INCOME |
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Interest earned |
51.659 |
63.269 |
49.792 |
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Other Income |
21.355 |
26.994 |
21.167 |
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TOTAL |
73.014 |
90.263 |
70.959 |
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EXPENDITURE |
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Interest expended |
19.146 |
26.610 |
20.159 |
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Operating Expenses |
19.501 |
21.947 |
21.452 |
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Provision and contingencies |
26.267 |
28.793 |
17.425 |
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TOTAL |
64.914 |
77.350 |
59.036 |
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Net profit for the year |
8.100 |
12.913 |
11.923 |
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Profit brought forward |
9.264 |
1.377 |
3.636 |
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TOTAL |
17.364 |
14.290 |
15.559 |
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APPROPRIATIONS |
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Add: |
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Transitional adjustment AS-15 |
-- |
-- |
0.032 |
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Transfer from revaluation reserve |
-- |
-- |
0.002 |
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Less: |
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Transfer to statutory reserve |
2.025 |
3.228 |
2.980 |
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Transfer to investments reserve |
(0.336) |
0.336 |
-- |
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Transfer to specific reserve |
0.207s |
0.084 |
0.075 |
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Transfer to capital reserves |
-- |
1.377 |
11.161 |
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Balance carried over to balance sheet |
15.468 |
9.265 |
1.377 |
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TOTAL |
17.364 |
14.290 |
15.559 |
LOCAL AGENCY FURTHER INFORMATION
Background
The financial statements for the year ended 31 March 2010 comprise the
accounts of the
Basis of
Operations:
The financial statements are prepared and presented under the historical
cost convention and accrual basis of accounting, except where otherwise stated,
and in accordance with the generally accepted accounting principles and
statutory provisions prescribed under the Banking Regulation Act, 1949,
circulars and guidelines issued by the Reserve Bank of India (‘RBI’),
Accounting Standards (‘AS’) prescribed by the Companies (Accounting Standards)
Rules, 2006, to the extent applicable and current practices prevailing within
the banking industry in India.
Capital Adequacy
The Bank’s capital management framework is shaped by the structure,
business model and strategic direction. There is a continuing need to focus on
the effective management of risk, and commensurate capital to bear that risk.
The Bank carefully assesses its growth opportunities relative to the capital
available to support them, particularly in light of the economic environment
and advent of Basel II. The Bank maintains a strong discipline over capital
allocation and ensuring that returns on investment cover capital costs.
i) Capital
requirements for credit risk
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Particulars |
31.03.2010 Rs.
In Millions |
|
Portfolios subject to standardized approach |
32923.578 |
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Securitization exposures |
-- |
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Capital
requirements for credit risk |
32923.578 |
ii) Capital
requirements for Market risk
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Standardized
Duration Approach |
31.03.2010 Rs.
In Millions |
|
Interest rate risk |
8669.901 |
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Foreign exchange risk |
405.000 |
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Enquiry Risk |
32.215 |
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Capital
requirements for market risk |
9107.116 |
(iii) Capital requirements for operational risk under the basic
indicator approach is Rs. 7463.036 Millions
(iv)
Capital ratios
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Particulars |
31.03.2010 |
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Consolidated total capital ratio |
18.03% |
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Consolidated Tier 1 Capital ratio |
16.63% |
There is no significant subsidiary for which the above disclosure is
required.
Contingent
Liabilities:
|
Particulars |
31.03.2010 Rs.
In Millions |
|
I. Claims against the bank not acknowledged as debts (including tax
matters) |
2.602 |
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II. Liability for partly paid investment |
0.001 |
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III. Liability on account of outstanding forward exchange and
derivative contracts |
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i) Forward contracts |
1720.867 |
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ii) Currency Options |
639.916 |
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iii) Derivative Contracts |
5897.369 |
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IV. Guarantees given on behalf of constituents |
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i) In |
77.441 |
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ii) Outside |
14.167 |
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V. Acceptances, endorsements and other obligations |
142.008 |
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VI. Bills rediscounted |
0.000 |
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VII. Other items for which the bank is contingently liable |
15.164 |
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Total |
8509.535 |
Fixed Assets:
·
Premises (including leasehold improvements)
·
Other Fixed Assets (including Furniture and
Fixtures)
AS PER WEBSITE
History:
The HSBC Group has an international pedigree which
is unique. Many of its principal companies opened for business over a century
ago and they have a history rich in variety and achievement.
Foundation and growth
The HSBC Group is named after its founding member,
The Hongkong and Shanghai Banking Corporation Limited, which was established in
1865 in Hong Kong and
The inspiration behind the founding of the Bank was Thomas Sutherland, a Scot
who was then working as the Hong Kong Superintendent of the Peninsular and
Oriental Steam Navigation Company. He realised that there was considerable
demand for local banking facilities both in Hong Kong and along the
Throughout the late nineteenth and the early twentieth centuries, the Bank
established a network of agencies and branches based mainly in
During the Second World War the Bank was forced to close many branches and its
head office was temporarily moved to
The making of the modern HSBC Group
The post-war political and economic changes in the
world forced the Bank to analyse its strategy for continued growth in the
1950s. The Bank diversified both its business and its geographical spread through
acquisitions and alliances. However, it remained committed to its historical
markets and played an important part in the reconstruction of
In 1959 the bank completed two important purchases, those of The British Bank
of the
In 1965 the Bank purchased a controlling interest in Hang Seng Bank, which had
been established in
During the 1980s the Bank concentrated on moving into those markets where it
was not yet fully represented. Hongkong Bank of
HSBC Holdings plc, the parent company of the HSBC Group, was established in
1991 with its shares quoted on both the
The acquisition in July 1992 of Midland Bank in the
The 1990s have seen further expansion and consolidation of the various
businesses of the HSBC Group. In the
Profile:
The HSBC Group is one of the world's largest
banking and financial services organisations. The Group has around 9,500
offices in 86 countries and territories in Europe, the Asia-Pacific region, the
Subject provides a comprehensive range of financial services through four
customer groups and global businesses: Personal Financial Services (including
consumer finance); Commercial Banking; Corporate, Investment Banking and
Markets; and Private Banking. The HSBC Group Fact Sheet gives an overall view
of the Group's global services. Established in Hong Kong in March 1865 and in
Fact sheets detailing the Group's operations in Hong Kong and mainland
Find out how HSBC fulfills its obligations to customers, shareholders and
employees in HSBC Sustainability Report 2008 (English).
Commercial Banking
The Hongkong and Shanghai
Banking Corporation Limited (HSBC)
Personal Banking
Subject offers a wide range of personal financial services, including personal
lending and deposit products, through its branch network in Ahmedabad,
Non Resident Indian Banking
Subject’s Non Resident Indian Banking (NRI) centres located in Asia-Pacific,
the Middle East, Europe and
Financial Planning Services
Services include investment and custodian management and access to stock
broking and insurance services, which are offered to resident as well as
non-resident Indians.
Corporate Banking
Subject has well-established, long-term corporate banking relationships with
large domestic Indian corporations and foreign multinationals operating in
Business Banking
Subject’s Extra Mile Business Banking offers two
types of account to small and medium-sized businesses - The Business Account
and the BusinessVantage Account. Services include Business Phone Banking,
Business Doorstep Banking and Multi Branch Business Banking.
Payments and Cash Management
Subject provides integrated domestic and regional transaction support to
corporate clients through a sophisticated range of cash management solutions,
including collection and payment services and integration with customer
back-end systems. Operations and client services are ISO 9001 certified.
Hexagon, the HSBC Group's dedicated electronic banking service allows users to
perform financial transactions, obtain international financial markets
information, and review details of their domestic and international accounts,
from anywhere in the world, 24 hours a day.
Trade (international and domestic) and Factoring Services
A wide range of solutions tailored to meet
customer's requirements for both domestic and international businesses is
offered. HSBC is also one of the leading banks involved in the bullion business
through its offices in Ahmedabad,
Institutional Banking
Working closely with Group offices in India and overseas, trade services,
payments and cash management, treasury and capital markets, custody and
clearing, and correspondent and electronic banking activities are offered to
banks, financial institutions, securities houses, insurance companies, asset
management companies and other non-banking companies, non-government and
development organisations operating in India.
Treasury and Capital Markets
Clients consistently rate HSBC's Treasury business as one of the best in
Custody and Clearing
The leading custodian in Asia, HSBC's custody and clearing services are available
in 28 markets in Asia-Pacific and the
Technology
The HSBC Group develops and applies advanced
technology to the efficient and convenient delivery of banking and related
financial services. In
·
Self-Service Banking with over
150 in-branch and off-branch ATMs and 24-hour Phone Banking.
·
Trade and Corporate Banking
services with real-time access to a centralised information database
·
Instantaneous inter-city
transactions through online connections between all branches
·
A state-of-the-art treasury
dealing system
·
A sophisticated card system
supporting debit and credit cards, domestic and international VISA, MasterCard,
and co-branded cards
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A dedicated acquiring system
for both MasterCard and Visa transactions
·
online@hsbc, HSBC's internet
banking service, provides customers with an integrated and secure platform to
access their accounts.
·
Internet Payment Gateway
handles credit card transactions on the internet
Asset Management
HSBC Asset Management (India)
Private Limited provides a comprehensive
range of investment management solutions to a diverse client base and is
committed for aiming to deliver consistent investment performance, world-class
service and a broad range of solutions for all types of investors. The range of
offerings in
HSBC Global Resourcing
HSBC Global Resourcing is the largest, captive, banking
and financial services off shoring organization in the world. A vital part of
the HSBC Group's global strategy, Global Resourcing plays a key role in
delivering shareholder value and seamlessly integrates and helps the Group
remain competitive in the ever changing world of banking and finance. Global
Resourcing is present in
Insurance
HSBC Insurance Brokers (
Data Processing
HSBC Operations and Processing
HSBC Group Entities in
Private Equity
HSBC Private Equity Management
(
Audit Service
HSBC Professional Services
(India) Private Limited provides internal audit
services to the HSBC Group's internal audit units worldwide, with particular
emphasis on the IT, Treasury, Asset Management, Private Banking and Insurance
functions.
Investment Banking
HSBC Securities and Capital
Markets (
Software Development
HSBC Software Development (
PRESS RELEASE:
HSBC
***First-in-market
platform enables world class service delivery***
HSBC India’s Payments and Cash Management business today
announced the launch of ClientSphere, its new online solutions delivery platform.
ClientSphere is a cash management solution implementation platform developed by
HSBC (patent pending) for its clients. It empowers customers by offering
visibility and control of project implementation progress, and ensures
alignment among all stakeholders, regardless of geographical and organisational
boundaries. Its streamlined processes and embedded best-practice workflows,
dashboards and tools enhance communication, collaboration and efficiency,
thereby enabling swift and seamless cash management solution delivery.
Feedback from participating corporate treasury and finance
professionals indicates a significant improvement in client experience during
their process transitions. Faster and smoother implementation will help clients
realise the benefits of improved business processes quicker.
Thomas Schickler, Head of Payments and Cash Management, HSBC
India said, “In our discussions with CFOs and Treasurers around the country, we
have been impressed by the ambition of their expansion plans as they seek to
benefit from the Indian growth story. Critical to their success is the ability
to optimise their working capital and ensure that they can take advantage of
the emergence of the array of electronic settlement tools that are now
available. Increasingly, they need help from their banking partners in order to
manage the transformation of their financial process. ClientSphere is precisely
the type of collaborative tool that allows HSBC to work directly with our
client's organisation and help them realise their ambitions.”
HSBC has a long-standing track record of providing
consultative services to clients and engineering cash management solutions that
enhance operational efficiency and maximise productivity. During
implementation, visibility, communication and alignment of goals are key to
realising the full benefits of new services.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.45.45 |
|
|
1 |
Rs.72.90 |
|
Euro |
1 |
Rs.61.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
80 |
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 |
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 |
|
NB |
New Business |
- |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.