MIRA INFORM REPORT
|
Report Date : |
26.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
NORTEC QUÍMICA SA |
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Registered Office : |
Rua Dezessete, 200 – Industrial, Zip Code 25270-020 - Duque De Caxias/Rj |
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Country : |
Brazil |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.12.1985 |
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Legal Form : |
Privately Held Corporation |
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Line of Business : |
Manufacture of chemicals. |
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No. of Employees
: |
161 Persons |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1.000.000,00 |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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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) |
|
Brazil |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
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 |
Company name
NORTEC QUÍMICA S/A
company ADDRESSES
|
MAIN ADDRESS: |
RUA DEZESSETE, 200 - INDUSTRIAL |
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ZIP CODE/CITY: |
25270-020 - DUQUE DE CAXIAS/RJ |
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PHONE: |
21 3651-7315 |
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FAX: |
21 3651-7315 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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THE COMPANY HAS A BRANCH LOCATED IN: RIO DE JANEIRO/RJ. |
LEGAL DATA
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF CHEMICALS. |
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LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
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INCORPORATION DATE: |
20/12/1985 |
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REGISTER DATE: |
20/12/1985 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
29.950.060/0001-57 |
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STATE REGISTER: |
83.262.141 |
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SHARE CAPITAL: |
R$ 19.425.000,00 |
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LAST REGISTER OF CAPITAL: |
03/06/2009 |
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BOARD OF
DIRECTORS: |
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|
|
ALBERTO RAMY
MANSUR |
PRESIDENT OF THE
BOARD OF DIRECTORS |
|
MARCUS CESAR SOALHEIRO ALEXANDRINO DA CRUZ |
PRESIDENT DIRECTOR |
|
WALTER TRAJANO DE SA FILHO |
SUPERVISING DIRECTOR |
|
MARCELO HENRIQUE DE CASTRO |
DIRECTOR |
|
JOEL MARIA MOTA DA CRUZ |
FINANCIAL DIRECTOR |
AUTHORIZED USE OF SIGNATURE
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
ALBERTO RAMY MANSUR |
57% |
|
NICOLAU PIRES LAGES |
23% |
|
BNDES PARTICIPAÇÕES S/A BNDESPAR |
20% |
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AFFILIATES /
SUBSIDIARIES: |
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|
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CONSORCIO CNG |
|
COMPANY'S BACKGROUND
|
THE SUBJECT WAS ESTABLISHED ON DECEMBER 20, 1985 AS NORTEC NORDESTE
QUIMICA DESENVOLVIMENTOS TECNOLOGICOS TO BE ENGAGED IN THE SAID LINE OF BUSINESS.
ON OCTOBER 06, 1998 ALTERED TO NORTEC QUIMICA DESENVOLVIMENTOS TECNOLOGICOS
AND ON SEPTEMBER 25, 2002 ADOPTED THE ABOVE-MENTIONED NAME AND UP TO DATE IT
IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN. FURTHER DETAILS ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
NO DETRIMENTAL FILES WERE FOUND. |
FINANCIAL INFORMATION
|
GENERAL BALANCE SHEETS AS OF 31/12/2010, 31/12/2009 AND 31/12/2008. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
|
|
|
|
|
CASH AND BANKS |
9.573 |
1.477 |
708 |
|
CLIENTS |
8.011 |
8.485 |
9.028 |
|
INVENTORY |
11.990 |
14.918 |
15.636 |
|
RECOVERABLE TAXES |
1.348 |
3.369 |
3.416 |
|
ACCOUNTS RECEIVABLE |
1.496 |
374 |
387 |
|
|
---------------- |
---------------- |
---------------- |
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TOTAL CURRENT ASSETS |
32.418 |
28.623 |
29.175 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
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|
JUDICIAL DEPOSITS |
|
|
20 |
|
OTHER CREDITS |
21 |
18 |
4 |
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---------------- |
---------------- |
---------------- |
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TOTAL LONG-TERM RECEIVABLES |
21 |
18 |
24 |
|
FIXED ASSETS: |
|
|
|
|
|
|
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FIXED ASSETS |
9.564 |
9.523 |
10.051 |
|
DEFERRED |
1.060 |
1.414 |
1.767 |
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---------------- |
---------------- |
---------------- |
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TOTAL FIXED ASSETS |
10.624 |
10.937 |
11.818 |
|
|
================ |
================ |
================ |
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TOTAL ASSETS |
43.063 |
39.578 |
41.017 |
|
LIABILITIES: |
|
|
|
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CURRENT: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
|
|
|
|
|
SUPPLIERS |
1.635 |
6.758 |
12.784 |
|
SOCIAL / LABOR OBLIGATIONS |
928 |
642 |
462 |
|
TAX LIABILITIES |
887 |
473 |
431 |
|
DIVIDENDS |
2.147 |
52 |
|
|
LOANS AND FINANCING |
1.985 |
1.678 |
1.200 |
|
OTHER DEBTS |
655 |
529 |
405 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
8.237 |
10.132 |
15.282 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
6.916 |
8.873 |
9.201 |
|
OTHER |
87 |
44 |
60 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
7.003 |
8.917 |
9.261 |
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NET EQUITY: |
|
|
|
|
|
|
|
|
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SHARE CAPITAL |
19.425 |
19.425 |
17.865 |
|
ACCRUED PROFIT (LOSS) |
|
|
-2.330 |
|
PROFIT RESERVES |
8.398 |
1.104 |
939 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
27.823 |
20.529 |
16.474 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
43.063 |
39.578 |
41.017 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2010, 31/12/2009 AND 31/12/2008. |
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( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2010 |
31/12/2009 |
31/12/2008 |
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|
|
|
|
|
GROSS SALES |
84.830 |
51.675 |
53.238 |
|
(-) TAXES ON SALES |
5.790 |
5.966 |
4.269 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
79.040 |
45.709 |
48.969 |
|
(-) COST OF SOLD GOODS |
58.562 |
37.738 |
39.045 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
20.478 |
7.971 |
9.924 |
|
OPERATING REVENUE (EXPENSE) |
-7.444 |
-6.477 |
-8.394 |
|
FINANCIAL REVENUE(EXPENSE) |
-914 |
1.838 |
-3.860 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
12.120 |
3.332 |
-2.330 |
|
CONTRIBUTION/INCOME TAX |
-3.726 |
-785 |
|
|
INTERESTS ON OWN CAPITAL |
1.232 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
9.626 |
2.547 |
-2.330 |
|
MONTHLY SALES |
|||
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|
2011 |
|
|
|
|
--------------------- |
|
|
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JANUARY |
R$ 5.160.537,65 |
|
|
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FEBRUARY |
R$ 4.964.757,65 |
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|
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MARCH |
R$ 4.902.475,05 |
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|
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APRIL |
R$ 3.078.455,95 |
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|
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MAY |
R$ 4.923.388,19 |
|
|
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JUNE |
R$ 9.539.422,99 |
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|
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JULY |
R$ 7.675.713,68 |
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AUGUST |
R$ 9.047.128,03 |
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|
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SEPTEMBER |
R$ 10.033.833,65 |
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OCTOBER |
R$ 11.822.663,54 |
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NOVEMBER |
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DECEMBER |
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TOTAL |
R$ 71.148.376,38 |
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|
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RATIOS: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
QUICK RATIO |
2,48 |
|
1,35 |
|
,89 |
|
|
CURRENT RATIO |
3,94 |
|
2,83 |
|
1,91 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
9,87 |
TIMES |
5,39 |
TIMES |
5,42 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
36,49 |
DAYS |
66,83 |
DAYS |
66,37 |
DAYS |
|
INVENTORY TURNOVER |
4,88 |
TIMES |
2,53 |
TIMES |
2,50 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
10,05 |
DAYS |
64,47 |
DAYS |
117,87 |
DAYS |
|
RETURN ON ASSETS |
1,84 |
TIMES |
1,15 |
TIMES |
1,19 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
2,84 |
TIMES |
2,23 |
TIMES |
2,97 |
TIMES |
|
NET WORTH TIE-UP |
,34 |
|
,46 |
|
,61 |
|
|
INDEBTEDNESS |
,55 |
|
,93 |
|
1,49 |
|
|
EQUITY RATIO |
64,61 |
% |
51,87 |
% |
40,16 |
% |
|
WORKING CAPITAL RATIO |
293,57 |
% |
182,50 |
% |
90,91 |
% |
|
GENERAL SOLVENCY |
2,83 |
|
2,08 |
|
1,67 |
|
|
RETURN ON NET EQUITY |
34,60 |
% |
12,41 |
% |
-14,14 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
12,18 |
% |
5,57 |
% |
-4,76 |
% |
|
GROSS PROFIT MARGIN |
25,91 |
% |
17,44 |
% |
20,27 |
% |
|
OPERATIONAL RESULT |
15,33 |
% |
7,29 |
% |
-4,76 |
% |
|
SALES TURNOVER ON LIABILITIES |
9,60 |
TIMES |
4,51 |
TIMES |
3,20 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
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FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
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EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 1,86 |
- OFFICIAL RATE ON 24/11/2011 |
|
US$ 1,00 = R$ 1,66 |
- OFFICIAL RATE ON 31/12/2010 |
|
US$ 1,00 = R$ 1,74 |
- OFFICIAL RATE ON 31/12/2009 |
|
US$ 1,00 = R$ 2,33 |
- OFFICIAL RATE ON 31/12/2008 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW A GOOD FINANCIAL STANDING. IT SHOWS HIGH
LIQUIDITY RATIOS WITH POSITIVE WORKING CAPITAL AMOUNT AND LOW LEVEL OF INDEBTEDNESS.
IN ADDITION IT IS NOTED GOOD SALES RECOVER AND PROFITABILITY. |
REAL
ESTATE:
OWNED PREMISES ARE VALUED AT R$ 1.725.000,00
VEHICLES:
OWNED VEHICLES ARE VALUED AT R$ 43.000,00
MACHINES:
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT
R$ 1.317.000,00
INSURANCE
THE COMPANY MAINTAINS INSURANCE COVERAGE IN
AMOUNT CONSIDERED SUFFICIENT BY THE MANAGEMENT TO COVER CONTINGENCY RISKS OVER
ITS ASSETS AND/OR LIABILITIES.
BANKING REFERENCES
|
|
BRANCH/PHONE: |
|
|
BANCO DO BRASIL S/A |
3442 |
|
|
BANCO BRADESCO S/A |
0026 |
|
|
BANCO ITAU S/A |
0310 |
|
|
BANCO REAL (SANTANDER) S/A |
1226 |
|
|
BANCO SAFRA S/A |
0300 |
|
|
IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR
ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING
DETAILS. ACCORDING TO THE CENTRAL
BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO
DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK"). |
ACTIVITIES COMMENTS
|
THE SUBJECT IS ENGAGED IN THE MANUFACTURE OF INTERMEDIATE CHEMICAL
PRODUCTS. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
ABBOTT LABORATORIOS DO BRASIL LTDA |
|
|
|
FUNDAÇÃO PARA O REMEDIO POPULAR FURP |
|
|
|
MEDLEY S/A INDUSTRIA FARMACEUTICA |
|
|
|
MERCK S/A |
|
|
|
MONSANTO DO BRASIL LTDA |
|
|
|
SEM S/A |
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|
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STAFF: |
|
|
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THE COMPANY HAS: 161 EMPLOYEE(S) |
CONCEPT AND FULFILMENT
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1985. SO
FAR IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEMS ARE NOTED. THE COMPANY HAS TRADE RELATIONS WITH SOME LOCAL SUPPLIERS BUT UP TO
DATE ONLY SMALL PAYMENTS WERE REPORTED AND THE SUBJECT IS NOT SAID TO BE USER
OF TRADE CREDIT FACILITIES. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
|
|
BANDEIRANTE QUIMICA LTDA |
|
|
|
IPIRANGA COMERCIAL QUIMICA LTDA |
|
|
|
PETROBRAS DISTRIBUIDORA S/A-BR |
|
|
|
RHODIA BRASIL LTDA |
|
|
|
TRIALCOOL DISTRIBUIDORA LTDA |
|
|
|
PAYMENT HISTORY: |
|
8 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 101.283,00 |
|
|
|
AMOUNT OF INVOICES PAID: 38 |
|
TOTAL OF PROMPT PAYMENTS: 75,1% |
|
TOTAL OF DELAYED PAYMENTS: 24,9% |
|
|
|
HIGHEST INVOICE: R$ 25.260,00 |
|
HIGHEST CREDIT: R$ 25.260,00 |
FINAL OPINION
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL
YEARS. UP TO DATE IT HAS A GOOD FINANCIAL STANDING BUT A CLEAR TRADE HISTORY
AND NORMAL PAYMENT BEHAVIOUR. BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD
TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN
TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH. A CREDIT LIMIT OF USD 1.000.000,00 MAY BE CONSIDERED. |
|
BALANCE SHEET ANALYSIS |
FIGURES ARE IN THOUSANDS
OF REAIS |
|
|
|
||
|
|
31-12-10 |
|
31-12-09 |
|
31-12-08 |
|
|
ASSETS |
|
% |
|
% |
|
% |
|
Current Assets |
75.28 |
$ 28,623 |
72.32 |
$ 29,175 |
71.13 |
|
|
Fixed Assets |
$
10,624 |
24.67 |
$ 10,937 |
27.63 |
$ 11,818 |
28.81 |
|
TOTAL ASSETS |
$ 43,063 |
100.00 |
$ 39,578 |
100.00 |
$ 41,017 |
100.00 |
|
LIABILITIES |
|
|
|
|
|
|
|
Current Liabilities |
$ 8,237 |
19.13 |
$ 10,132 |
25.60 |
$ 15,282 |
37.26 |
|
Long-Term Liabilities |
$ 7,003 |
16.26 |
$ 8,917 |
22.53 |
$ 9,261 |
22.58 |
|
TOTAL LIABILITIES |
$ 15,240 |
35.39 |
$ 19,049 |
48.13 |
$ 24,543 |
59.84 |
|
Deferred Income |
$ - |
0.00 |
$ -
|
0.00 |
$ - |
0.00 |
|
Net Equity |
$ 27,823 |
64.61 |
$ 20,529 |
51.87 |
$ 16,474 |
40.16 |
|
TOTAL LIABILITIES + NET EQUITY |
$ 43,063 |
100.00 |
$ 39,578 |
100.00 |
$ 41,017 |
100.00 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
|
|
|
Net Sales |
$ 79,040 |
100.00 |
$ 45,709 |
100.00 |
$ 48,969 |
100.00 |
|
Costs |
$ 58,562 |
74.09 |
$ 37,738 |
82.56 |
$ 39,045 |
79.73 |
|
Gross Profit |
$ 20,478 |
25.91 |
$ 7,971 |
17.44 |
$ 9,924 |
20.27 |
|
Operating expenses |
$ (7,444) |
-9.42 |
$ (6,477) |
-14.17 |
$ (8,394) |
-17.14 |
|
operational Result |
$ 12,120 |
15.33 |
$ 3,332 |
7.29 |
$ (2,330) |
-4.76 |
|
Net Profit (loss) |
$ 9,626 |
12.18 |
$ 2,547 |
5.57 |
$ (2,330) |
-4.76 |
|
COMPLEMENTARY DATA |
|
|
|
|
|
|
|
Inventory |
$ 11,990 |
|
$ 14,918 |
|
$ 15,636 |
|
|
Accounts receivable |
$ 8,011 |
|
$ 8,485 |
|
$ 9,028 |
|
|
Accounts Payable |
$ 1,635 |
|
$ 6,758 |
|
$ 12,784 |
|
|
Property, plant and equipment |
$ 9,564 |
|
$ 9,523 |
|
$ 10,051 |
|
|
Purchases |
$ 10,624 |
|
$ 10,937 |
|
$ 11,818 |
|
|
Financial Expenses |
$ (914) |
|
$ 1,838 |
|
$ (3,860) |
|
|
Foreign Currency Assets |
|
|
|
|
|
|
|
Foreign Currency Liabilities |
|
|
|
|
|
|
|
Working Capital |
$ 24,181 |
|
$ 18,491 |
|
$ 13,893 |
|
|
RATIOS: |
|
|
|
|
|
|
|
QUICK RATIO |
2.48 |
|
1.35 |
|
0.89 |
|
|
CURRENT RATIO |
3.94 |
|
2.83 |
|
1.91 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
9.87 |
times |
5.39 |
times |
5.42 |
times |
|
DAYS' SALES IN RECEIVABLES |
36.49 |
days |
66.83 |
days |
66.37 |
days |
|
INVENTORY TURNOVER |
4.88 |
times |
2.53 |
times |
2.50 |
times |
|
10.05 |
days |
64.47 |
days |
117.87 |
days |
|
|
RETURN ON ASSETS |
1.84 |
times |
1.15 |
times |
1.19 |
times |
|
SALES TURNOVER ON NET EQUIY |
2.84 |
times |
2.23 |
times |
2.97 |
times |
|
NET WORTH TIE-UP |
0.34 |
|
0.46 |
|
0.61 |
|
|
ENDEBTEDNESS |
0.55 |
|
0.93 |
|
1.49 |
|
|
EQUITY RATIO |
64.61 |
% |
51.87 |
% |
40.16 |
% |
|
WORKING CAPITAL RATIO |
293.57 |
% |
182.50 |
% |
90.91 |
% |
|
GENERAL SOLVENCY |
2.83 |
|
2.08 |
|
1.67 |
|
|
RETURN ON NET EQUITY |
34.60 |
% |
12.41 |
% |
(14.14) |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
12.18 |
% |
5.57 |
% |
(4.76) |
% |
|
GROSS PROFIT MARGIN |
25.91 |
% |
17.44 |
% |
20.27 |
% |
|
OPERATIONAL RESULT |
15.33 |
% |
7.29 |
% |
(4.76) |
% |
|
SALES TURNOVER ON LIABILITIES |
9.60 |
times |
4.51 |
times |
3.20 |
times |
|
FOREIGN CURRENCY ON ASSETS |
- |
% |
- |
% |
- |
% |
|
FOREIGN CURRENCY ON LIABILITIES |
- |
% |
- |
% |
- |
% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.17 |
|
UK Pound |
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.69.43 |
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.