MIRA INFORM REPORT
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Report Date : |
23.11.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
WALMART CHILE COMERCIAL S.A. |
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Registered Office : |
Av. Pdte. Eduardo Frei Montalva 8301 - Quilicura, Santiago, XIII
Region Metropolitana |
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Country : |
Chile |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
26.06.1997 |
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Com. Reg. No.: |
15.583 N°12.421, Santiago |
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Legal Form : |
Private Stock Company |
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Line of Business : |
Investment and Wholesale
Distribution of foodstuffs and home articles. |
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 : |
78.000.000 Pesos |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Chile |
a2 |
a2 |
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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 |
IDENTIFICATION
WALMART CHILE COMERCIAL S.A.
Av. Pdte. Eduardo Frei Montalva 8301 -
Quilicura
Santiago
XIII Region Metropolitana
CHILE
Telephone : 56-2-2005000, 56-2-2005435
Fax : 56-2-2061919
E_Mail : info@dys.cl
Web Site : www.dys.cl
Postal Code :
8710019
SUMMARY
Started :
1997
Total Employees :
2.000
Payments :
See Commercial Record
Financial
Sit. : Normal
Economic
Sit. : Regular
Sales :
000's$ 2.403.458.657.-
Net
worth :
000's$ 49.996.804.-
Current
profit :
000's$ 38.490.679.-
Capital
: 000's$ 63.813.662.-
Sic(s) : 5149 - 6799
Line of Business: Investment and wholesale
distribution of foodstuffs and home
articles.
Credit Recommendation
000's
Pesos 000's US$
dollars 000's Euros
Conservative value
: 78.000.000
166.663 125.497
Liberal value
: 85.800.000
183.329
138.046
If additional information is received or present
information is rectified, this recommendation may be modified.
Payment Scoring = [ 80 ]
Financial indicators
According to last financial statement, subject
shows a normal financial
situation, as indicated in:
** Low Working Capital
** Good Current Liquidity Ratio
** Normal Acid Test Ratio
Economic situation is regular, as reflected in:
** Very High Current Indebtedness Ratio
** Undetermined Total Indebtedness Ratio
** Good Solvency Ratio
** Low Profitability Over Sales Ratio
** Low Profitability Over Assets Ratio
** Excellent Profitability Over Net Worth Ratio
COMMERCIAL INFORMATION
Commercial Bulletin
: As at 22/11/2011 subject does not register protested
checks, bank drafts nor promissory
notes in the
commercial information bulletin
Labor
Bulletin : As at
22/11/2011 does not register labor infringements
Previsional bulletin : As
At 22/11/2011 registers pension fund's
infringements
Previsional Detail
Date :16/08/2011
Reason :Undeclared
payrolls
Value :Ch$ 72.000,00.-
Months
:8
Bulletin :131
Page :150676
Drawer : Adm. de Fondos de
Cesantia.
Consolidated delinquency : As at 22/11/2011,
subject registers the following
delinquent bills
Detail of Delinquent Debts
Date : 17/06/2009
Note : Invoice
Value : Ch$ 997.356,00
Drawer : Argenta S.A.
City : Quilicura
Santiago
Date : 07/01/2010
Note : Invoices
Value : Ch$ 245.473,00
Drawer : Servicios Financieros
Avanza S.A.
City : Santiago
Date : 01/06/2009
Note : Invoice
Value : Ch$ 16.315,00
Drawer : Argenta S.A.
City : Quilicura
Santiago
Date : 17/06/2009
Note : Invoice
Value : Ch$ 1.152.495,00
Drawer : Argenta S.A.
City : Quilicura
Santiago
Date : 17/06/2009
Note : Invoice
Value : Ch$ 1.053.267,00
Drawer : Argenta S.A.
City : Quilicura
Santiago
Date : 05/10/2011
Note : Invoice
Value : Ch$ 226.981,00
Drawer : Nextel
City : -
Date : 17/06/2009
Note : Invoice
Value : Ch$ 203.062,00
Drawer : Argenta S.A.
City : Quilicura
Santiago
Date : 17/06/2009
Note : Invoice
Value : Ch$ 69.821,00
Drawer : Argenta S.A.
City : Quilicura
Santiago
Date : 05/08/2011
Note : Invoice
Value : Ch$ 226.981,00
Drawer : Nextel
City : -
Date : 05/11/2011
Note : Invoice
Value : Ch$ 226.981,00
Drawer : Nextel
City : -
Date : 07/10/2011
Note : Invoice
Value : Ch$ 396.408,00
Drawer : Nextel
City : -
Date : 17/06/2009
Note : Invoice
Value : Ch$ 238.171,00
Drawer : Argenta S.A.
City : Quilicura
Santiago
Date : 05/09/2011
Note : Invoice
Value : Ch$ 226.981,00
Drawer : Nextel
City : -
Date : 17/06/2009
Note : Invoice
Value : Ch$ 374.505,00
Drawer : Argenta S.A.
City : Quilicura
Santiago
Subject registers 46 Invoices amounting 000's$
14.353 . Only the latest ones
have been hereabove detailed.
TRADE REFERENCES
Suppliers' trade references are supplied as
follows:
Detail of References
Old
: Since 1972
Last purchase : 04-2011
Terms
: 75 days
Payment
: Prompt
Notes
: bank transfer
Credit
: (000'sUS$) 1.000.000
Owes
: Does not Register
Due
: Does not Register
Paying Comments: Excellent
Purchase Aver. : (Weekly 000's$) 35.000
Old
: Since 2002
Last purchase : 05-2011
Terms
: 30 days
Payment
: Prompt
Notes
: invoice
Credit
: (000'sUS$) 10.000.000
Owes
: -
Due
: Does not Register
Paying Comments: Excellent
Purchase Aver. : (Daily 000's$) 29.100
Old
: Since 2005
Last purchase : 04-2011
Terms
: 30 days
Payment
: Prompt
Notes
: bank transfer
Credit
: Open
Owes
: -
Due
: Does not Register
Paying Comments: Excellent
Purchase Aver. : (Daily 000's$) 5.500
Unlimited line of credit.
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old
Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 2002 12-10
Prompt
invoice
10.000.000
-
Since 2005 12-10
Prompt bank
transfer
Open
-
Since 1972 12-10
Prompt bank
transfer
1.000.000
None
Since 1972 04-10
Prompt bank
transfer
1.000.000
None
Since 2000 03-10
Prompt
invoice
Open None
Since 1998 04-10 Prompt
invoice
Open None
Since 2002 03-10
Prompt
invoice
Open None
Since 1972 02-09
Prompt bank
transfer
1.000.000
-
Since 1972 12-08
Prompt bank
transfer
300.000 None
Since 1972 11-08
Prompt bank
transfer
300.000 None
5 years 07-08
Prompt
invoice
Open None
Since 1972 06-08
Prompt bank transfer
300.000 None
Since 1972 01-08
Prompt bank
transfer
300.000
-
Since 2003 01-08
Prompt sight
draft
500.000
-
Since 2004 01-08
Prompt order
form
-
-
Since 2005 01-08
Prompt checks and order
f
Open
-
4 years 01-08
Prompt
checks
150.000 None
Since 1985 01-08
Prompt bank
draft
- None
Since 1985 07-07
Prompt bank
draft
- None
Since 1972 07-07
Prompt bank
transfer
250.000 1.533.000
Since 2003 01-07
Prompt sight
draft
450.000
-
Since 1997 12-03
-- not
specified
- None
5 years 03-04
Prompt
invoice
200.000
-
5 years 03-04
Prompt
invoice
300.000
-
3 years 03-04
Prompt
checks
-
-
3 years 03-04
Prompt
checks
-
-
Subject does not register protests, nor labor
infringements . However, it does
register 46 unpaid invoices and 1 pension fund
infringement.
According to the taxpayer ID indicator, it has
registered 460 search entries
over the last 6 months- requested by banks,
industries, credit evaluating and
insurance companies, and other businesses in general.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in
May 2011
The local delays in payment average 0-1 month.
FINANCIAL INFORMATION
SUMMARY
( Figures in Thousand Pesos, local currency )
From 01/01/2010
To 31/12/2010
CURRENT
ASSETS
4.953.597.216
CURRENT LIABILITIES
4.907.464.871
WORKING
CAPITAL
46.132.345
FIXED
ASSETS
3.864.459
NET
WORTH
49.996.804
OPERATING
INCOMES
2.403.458.657
CURRENT
PROFIT(LOSS)
38.490.679
B A L A N C E S H E E T
INDIVIDUAL FISCAL YEAR COMPLETE
ASSETS
31/12/2010
Cash
6.973.907
Inventory
179.645.741
Other Current
Assets
4.766.977.568
CURRENT
ASSETS
4.953.597.216
Net Fixed
Asset
3.864.459
FIXED
ASSETS
3.864.459
TOTAL
ASSETS
4.957.461.675
LIABILITIES
31/12/2010
Other Current
Liabilities
4.907.464.871
CURRENT
LIABILITIES
4.907.464.871
Paid
Capital
74.597.707
Other
Reserves
-61.653.491
Accumulated
Losses
-1.438.091
Current Profit
(Losses)
38.490.679
NET
WORTH
49.996.804
TOTAL
LIABILITIES
4.957.461.675
STATEMENTS OF
RESULTS
31/12/2010
Operating
Income
2.403.458.657
Operating
Cost
-1.872.316.536
OPERATING
MARGIN
531.142.121
Administration & Sales
Expenses
-533.428.123
OPERATING
RESULT
-2.286.002
Other non Operating
Incomes
45.134.000
Other non Operating
Expenses
-7.525.128
Monetary
Correction
3.167.809
NON OPERATING
RESULT
40.776.681
Result Before Income
Tax
38.490.679
NET
PROFIT(LOSS)
38.490.679
CURRENT
PROFIT(LOSS)
38.490.679
ECONOMIC - FINANCIAL RATIOS
31/12/2010
Working
Capital
(000's$)
46.132.345
Current
Liquidity
(Times)
1,01
Acid
Test
(Times)
0,97
Collection Period
Days (
Days)
Accounts Receivable
Turnover(Times)
Inventory
Turnover
(Times)
10,42
Current
Indebtedness
(Times)
98,16
Total
Indebtedness
(Times)
98,16
Solvency
(Times)
1,01
Assets Tying
Up
( %
)
0,08
Profitability Over
Sales ( %
)
1,60
Profitability Over Assets
( %
)
0,78
Profitability Over Net Worth(
%
)
334,52
BANKS
Subject operates with the following banks:
- Banco Bilbao Vizcaya Argentaria, Chile, main office
- Banco de Chile, main office
- Banco de Credito e Inversiones
- Banco Santander Chile, main office
- Corpbanca
OPERATIONS
Line of Business : Investment and wholesale distribution of
foodstuffs and home articles.
Classification according to commercial activity:
Sic: 5149-0000 Groceries and related products
Sic: 6799-0000 Investors
Subject is considered as a large company in this line of
business, high
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are sold
National: 99%
Sales conditions: Cash and credit
International: 1%
Historical exports registered in the
Customs National Services
Total 2008 = 000's$
26.081
Total 2007 = 000's$
8.193
Total 2006 = 000's$
8.493
Not exporting currently
Customers
Main customers are: Related companies
most important customers is:
Cadena de Supermercados Lider
Purchases
Places orders with multiple suppliers
National: 80%
Purchase conditions: Cash and term payments to 30 days.
International: 20%
Imports from Germany, Argentina, Australia, Bahrain,
Bangladesh, Brazil,
Cambodia, Canada, China, Colombia, Costa Rica, Ecuador, El
Salvador, Spain,
Philippines, Guatemala, India, Indonesia, England, Israel,
Italy, Malaysia,
Mexico, Nigeria, Pakistan, Panama, Paraguay, Peru, Poland,
Singapore, Sri Lanka,
Taiwan, Thailand, United States, Uruguay and Vietnam.
of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
China
45,81 49,40
Paraguay
24,55 14,76
Brazil
7,94 13,34
Argentina
7,21 8,23
Thailand
2,87 4,33
Uruguay
2,59 3,59
United
States
1,90 1,63
Australia
1,54 0,00
Ecuador
1,16 1,29
Colombia
0,85 0,00
Singapore
0,62 0,00
India
0,62 0,89
Israel
0,56 0,50
Nigeria
0,32 0,00
Pakistan
0,21 0,62
Bangladesh
0,19 0,16
Germany
0,17 0,07
Peru
0,16 0,13
Indonesia
0,15 0,00
Cambodia
0,15 0,10
Sri
Lanka
0,11 0,09
Philippines
0,07 0,05
El
Salvador
0,05 0,00
Vietnam
0,05 0,03
Panama
0,02 0,00
Mexico
0,02 0,02
Malaysia
0,01 0,00
Taiwan
0,01 0,00
Bahrain
0,01 0,00
Canada
0,00 0,31
Costa
Rica
0,00 0,00
Poland
0,00 0,00
Spain
0,00 0,09
Guatemala
0,00 0,19
England
0,00 0,00
Italy
0,00 0,00
Historical registries
Total 2010 = 000's$
146.300.191 Accumulated
2011 = 000's$ 38.884.003
Total 2009 = 000's$ 92.914.893
Total 2008 = 000's$
125.535.731
Total 2007 = 000's$
82.812.890
Total 2006 = 000's$
80.822.524
Main suppliers
- Abastecedora del Comercio Ltda.
- Cambiaso Hnos. S.A.C.
- Cecinas Winter S.A.
- Comercial Costa S.A.
- Compañia Cervecerias Unidas S.A.
- Cooperativa Agricola y Lechera de la Union Limitada
- Corpora Tresmontes S.A.
- Costa S.A.
- Embotelladora Andina S.A.
- Frigosam S.A.
- Industria de Maiz y Alimentos S.A.
- Lucchetti Chile S.A.
- Parmalat Chile S.A.
- Saray y Cia. Ltda., Emilio
- Sociedad Comercial Maletas Chile Ltda.
- Somela S.A.
- Soprole S.A.
- Tecnologia y Alimentos Ltda.
- Tyco Services S.A.
- Viña Concha y Toro S.A.
- Watt"s Alimentos S.A.
Employees: 2.000 employees
(The holding employs 38.000 people approximately)
Location
- Management offices located at Av. Pdte. Eduardo Frei
Montalva 8301 Quilicura
Santiago, Chile, industrial area, main avenue
of busy traffic, construction
in good conditions
Branches
Subject does not have any branch
RELATED COMPANIES
Subject is related to the following companies:
- Maquinsa Equipamiento S.A. T A X 99585960-2
Quilicura Santiago, 99,99%
Participation
- Desarrollos De La Patagonia S.A. T A X 76317630-4,
99,99% Participation
- Grupo Restaurantes Chile S.A., 99,88% Participation
- Servicios Financieros Walmart Chile S.A. T A X
95723000-8 Quilicura Santiago,
99,50% Participation
- Administradora de Concesiones Comerciales de
Supermercados S.A., 99,17%
Participation
- Distribuidora y Comercializadora Emporium Ltda.,
99,00% Participation
- Abarrotes Economicos S.A., 99,00% Participation
- Ekono S.A. T A X 76473580-3 Providencia Santiago,
99,00% Participation
- Walmart Chile S.A T A X 96439000-2 Quilicura Santiago
(Headquarters). Sales
as at 31/12/2010 000's$ 2.276.702.447
FIXED ASSETS
Real estates
Subject registers real estates
- Shop, Av. Américo Vespucio 3100 Peñalolén
Santiago-Chile, Fiscal value of
000's$ 6.555.258.-, rol Nº 9095-53
- Building, Av. Américo Vespucio 2701 Cerrillos
Santiago-Chile, Fiscal value of
000's$ 10.366.073.-, rol Nº 2-290
Total fiscal appraisal $16.921.330.272
Vehicles
Does not have vehicles
Machinery & Instalations
Own modern equipment
INSURANCES
Insurance details were declined.
BOARD OF DIRECTORS
ADMINISTRATION
General
Manager : Enrique Ostale
Cambiaso TAX:8681278-9
Adm. & Finances Manager : Luis España
Commercial Manager :
Debra Leyton
Treasurer
: Patricio Arias
CURRICULUM
Enrique Ostale Cambiaso
T A
X
: 8681278-9
Titled
as : Commercial
Engineer.
Position
: General Manager
LEGAL INFORMATION
Legal Structure : Private
Stock Company
Constitution date : 26/06/1997. Registered
on leaf 15.583 N°12.421, Santiago
Trade Register, year 1997 under the business name
CARREFOUR CHILE S.A.
Notary
: Raúl Undurraga Laso, Santiago
Term of duration : Indefinite
Legal Address :
Santiago - Chile
Published in
: Official Gazette dated 30/06/1997 page Nº 12
Current Social Capital: 000's$ 63.813.662.-Divided to
57.438.235.- registered
shares unique series
Social Initial Capital: 000's$ 42.000.-
Shareholder : 2
- 99,99% 76724050-3 Inversiones D & S Chile Ltda.
- 0,01% 96439000-2 Distribucion y Servicios D
& S S.A.
Administration is held by General Manager.
Legal changes
Public Deed dated 22/12/1997, notary Raúl Undurraga Laso,
Santiago, published in
the Official Gazette dated 24/01/1998 page N° 15, capital
was increased: from
$42.000.000 to $2.227.200.000 divided into 53.029 no par
value shares.
Public Deed dated 06/10/1998, notary Raúl Undurraga Laso, Santiago,
published in
the Official Gazette dated 21/10/1998 page N° 15, capital
was increased: from
$2.228.712.000 (revalued) divided into 53.029 no par value
shares, to
$8.728.712.000 divided into 216.725 no par value shares.
Public Deed dated 12/01/1999, notary Raúl Undurraga Laso,
Santiago, published in
the Official Gazette dated 22/01/1999 page N° 16, capital
was increased: from
$8.728.712.000 divided into 216.725 no par value shares, to
$17.907.387.360
divided into 446.620 no par value shares.
Public Deed dated 17/12/1999, notary Raúl Undurraga Laso,
Santiago, published in
the Official Gazette dated 27/12/1999 page N° 22, capital
was increased: from
$18.083.184.667(revalued) to $21.227.134.309 divided into
521.922 registered no
par value shares of the same series.
Public Deed dated 19/07/2000, notary Raúl Undurraga Laso,
Santiago, published in
the Official Gazette dated 29/07/2000 page N° 22, capital
was increased: from
$21.718.285.293 (revalued) divided into 521.922 no par
value shares of unique
series, to $27.986.095.293 divided into 672.542 shares of
unique series.
Public Deed dated 30/01/2001, notary Raúl Undurraga Laso,
Santiago, published in
the Official Gazette dated 12/02/2001 page N° 16, capital
was increased: from
$27.896.095.293 to $33.964.525.293 divided into 831.050 no
par value shares of
same series.
Public Deed dated 17/12/2001, notary Raúl Undurraga Laso,
Santiago, published in
the Official Gazette dated 24/12/2001 page N° 16, capital
was increased: from
$35.308.899.712 (revalued) to $47.740.582.705 divided into
1.123.649 no par
value shares.
Public Deed dated 12/09/2002, notary Eduardo Avello Concha,
Santiago, published
in the Official Gazette dated 26/09/2002 page N° 12, capital
was increased: from
$49.023.181.504 (revalued) to $54.710.231.504 divided
into 1.254.001 no par
value shares.
Public Deed dated 25/11/2003, notary Eduardo Avello Concha,
Santiago, published
in the Official Gazette dated 13/12/2003 page N° 16, capital
was increased: from
$56.371.664.930 (revalued) divided into 1.254.001 no par
value shares, to
$74.804.994.099 divided into 1.664.055 no par value shares.
Public Deed dated 15/12/2003, notary Eduardo Avello Concha,
Santiago, published
in the Official Gazette dated 23/12/2003 page N° 10, deed
was rectified :
modified texts of capital increase published in official
gazette dated Dec 13,
2003 page 16.
Public Deed dated 18/12/2003, notary Eduardo Avello Concha,
Santiago, published
in the Official Gazette dated 29/12/2003 page N° 15, capital
was increased: from
$74.804.994.099 divided into 1.664.055 no par value shares,
to $76.483.989.099
divided into 1.701.404 no par value shares.
Public Deed dated 07/01/2004, notary Iván Torrealba Acevedo,
Santiago, published
in the Official Gazette dated 23/01/2004 page N° 45,
corporate name was
modified: from Carrefour Chile S.A. to Magallanes S.A.
Public Deed dated 07/10/2005, notary Pablo Poblete Saavedra,
Santiago, published
in the Official Gazette dated 02/12/2005 page N° 23, statutes
were modified: it
was agreed to divide subject into two companies, one will be
its legal continuer
keeping the business name (subject), and the other will be a
new one, which will
operate under business name "Inmobiliaria Magallanes
S.A.". As a consequence of
this division, capital was reduced: to $1.824.365.138
divided into 1.701.404
registered shares.The resulting difference will be the
capital of the new
company.
Public Deed dated 23/10/2006, notary Pablo Poblete Saavedra,
Santiago, published
in the Official Gazette dated 17/11/2006 page N° 25,
corporate name was
modified: "Magallanes S.A." was replaced by
"Comercial D & S S.A.", with address
in Santiago.
Public Deed dated 16/11/2006, notary Pablo R. Poblete
Saavedra, Santiago,
published in the Official Gazette dated 12/01/2007 page N°
32, capital was
increased: from $1.890.042.831 (revalued) to $63.813.661.524
divided into
57.438.235 no par value shares.
Public Deed dated 26/05/2011, notary Verónica Torrealba C.
Not. Suplente Notaria
Iván Torrealba, Santiago, published in the Official Gazette
dated 01/06/2011,
corporate name was modified: from "Comercial D&S
S.A." to " Walmart Chile
Comercial S.A.".
PUBLICATIONS
Information regarding subject is supplied as follows
NOTA DE IMPORTANCIA of 23/04/2010 Company belongs to Wall
Mart Stores Inc.
through Inversiones Australes Tres Ltda. It acquired through
initial public
offering the 74,61% of Distribuidora y Servicios D&S
S.A. head of the group in
Chile.
As at 31.12.2009 the company owns 197 establishments
throughout the country,
hypermarkets, supermarkets, discount stores Ekono and A
Cuenta warehouse stores.
D&S has built 10 shopping centers.- -
INFORMATION SOURCES
On 20/05/2011 Mr. Patricio Arias, Treasurer, submitted
just general
information, outside sources provided financial
figures.
-Other outside information sources.
Exchange rate
-As at 23/05/2011 $468,34 Per US$
-As at 31/12/2010 $468,01 Per US$
INTERPRETATION
OF RISK LEVEL AND CREDIT RECOMMENDATION
RISK LEVEL
Credit risk assessment
is ordered as follows: 1 Minimum Risk, 2 Low Risk, 3 Middle Risk, 4 Middle High
Risk, 5 Significant Risk, 6 High Risk.
CREDIT
RECOMMENDATION
Credit recommendation amounts are assigned according to
criteria usually used in
the commercial credit evaluation.
The amounts are based on the risk percentages'assignment to
the following
indicators: Trade references, number of employees,
legal structure, protested
bills, labor & welfare infringements, unpaid bills,
operations, insurances, net
profit, net worth, working capital and liquidity variations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
|
UK Pound |
1 |
Rs.82.44 |
|
Euro |
1 |
Rs.71.08 |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.