MIRA INFORM REPORT
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Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
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Name : |
ORION ENGINEERED CARBONS CO., LTD. |
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Formerly Known As : |
Evonik Carbon
Black Korea Co., Ltd. |
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Registered Office : |
350, Wollae-dong, Yeosu-si, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.12.1998 |
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Com. Reg. No.: |
417-81-17523 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Other Basic Inorganic Chemicals |
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No. of Employees
: |
190 |
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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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
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Company
Name |
ORION ENGINEERED CARBONS CO., LTD. (Korean Company Name : “오리온엔지니어드카본즈(주)”) |
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Registered Address |
350, Wollae-dong, Yeosu-si, |
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Zip Code |
555-260 |
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Tel |
+82-61-680-6612 |
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Fax |
+82-61-680-6780 |
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E-mail |
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Website |
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Trading Address |
350, Wollae-dong, Yeosu-si, |
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Tel |
+82-61-680-6612 |
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Fax |
+82-61-680-6780 |
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Other Address-Bupyeong Factory |
94, Galsan 1-dong, Bupyeong-gu, |
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Tel |
+82-32-510-6020 |
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Fax |
+82-32-527-6030 |
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Type |
Export/Import |
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Industry |
Manufacture of Other Basic Inorganic Chemicals |
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Main Business |
Carbon Black |
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Established (mm/dd/yyyy) |
12/18/1998 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Carbon black(12171603) |
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Name |
Balschukat Dietmar |
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Address |
A-3, 102-12, Itaewon-dong,
Yongsan-gu, |
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Date of Birth |
09/25/1954 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
German |
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Capital (KRW) |
108,150,000,000 |
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Employees |
190 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Korea Exchange Bank |
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Corporate Registered No. |
206211-0014387 |
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Business Registered No. |
417-81-17523 |
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Permit & Licenses |
Int’l Trade No.: 11587206 |
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Shareholder Position |
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Company History |
12/18/1998 Incorporated as Korea Carbon
Black Co., Ltd. 12/31/1998 Acquired Carbon Business from LG CHEM
LTD.(110111-2207995) 10/24/2007 Changed company name to Evonik
Carbon Black Korea Co., Ltd. 08/01/2011 Changed company name to the
present name |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Balschukat Dietmar |
Male |
German |
01/01/2009 |
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Director |
Mr. |
Jung Young-Keun |
Male |
Korean |
11/22/2006 |
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Director |
Mr. |
Rudolf Smiths |
Male |
German |
03/30/2009 |
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Auditor |
Mr. |
Jung Kyu-Sun |
Male |
Korean |
03/22/2011 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
347,051,056,253 |
220,466,498,692 |
28,417,369,213 |
|
|
2009 |
279,981,565,128 |
196,249,708,697 |
15,617,500,099 |
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2008 |
309,987,049,139 |
224,949,514,717 |
13,794,998,688 |
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Authorized Capital(KRW) |
200,000,000,000 |
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Paid-Up Capital(KRW) |
108,150,000,000 |
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Total Issued Shares |
10,815,000 |
Balance
Sheet
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Unit : Million Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
220,466,498,692 |
196,249,708,697 |
224,949,514,717 |
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Current Assets |
133,961,779,797 |
105,689,818,184 |
128,248,848,957 |
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-Quick Assets |
96,092,431,856 |
58,581,277,162 |
77,427,745,110 |
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-Inventories |
37,869,347,941 |
47,108,541,022 |
50,821,103,847 |
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Fixed Assets |
86,504,718,895 |
90,559,890,513 |
96,700,665,760 |
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-Investment |
3,137,655,782 |
3,407,927,363 |
3,577,776,732 |
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-Tangibles |
82,125,526,965 |
85,646,358,579 |
90,875,457,714 |
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-Intangibles |
23,056,232 |
22,703,882 |
29,129,460 |
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-Others |
1,218,479,916 |
1,482,900,689 |
2,218,301,854 |
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Total Liabilities |
71,442,741,043 |
63,909,045,261 |
95,691,766,380 |
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Current Liabilities |
68,997,853,954 |
61,103,952,219 |
92,388,009,082 |
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Fixed Liabilities |
2,444,887,089 |
2,805,093,042 |
3,303,757,298 |
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Capital Stock |
108,150,000,000 |
108,150,000,000 |
108,150,000,000 |
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Capital Surplus |
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Profit Surplus |
40,873,757,649 |
24,190,663,436 |
21,107,748,337 |
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Capital Adjustment |
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Total Equity |
149,023,757,649 |
132,340,663,436 |
129,257,748,337 |
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Liab. & Shareholder’s Equity |
220,466,498,692 |
196,249,708,697 |
224,949,514,717 |
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Current Liabilities |
68,997,853,954 |
61,103,952,219 |
92,388,009,082 |
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Trade Payables |
29,301,034,277 |
28,435,908,535 |
6,182,615,727 |
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Short-Term Borrowings |
- |
1,120,000,000 |
49,734,160,000 |
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Account Payables |
1,849,775,720 |
1,726,760,200 |
2,309,176,150 |
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Withholdings |
303,802,871 |
242,896,737 |
177,531,833 |
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Advance Receipts |
66,989 |
- |
- |
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Accrued Expenses |
28,964,159,999 |
26,004,669,249 |
26,216,214,997 |
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Derivatives |
962,461,827 |
546,396,974 |
2,716,291,811 |
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Accrued Income Tax |
7,616,552,271 |
3,027,320,524 |
5,052,018,564 |
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Fixed Liabilities |
2,444,887,089 |
2,805,093,042 |
3,303,757,298 |
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Provision for Severance & Retirement |
1,852,996,626 |
2,805,093,042 |
3,303,757,298 |
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Deferred Income Tax Credit |
591,890,463 |
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- |
Income
Statement
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
347,051,056,253 |
279,981,565,128 |
309,987,049,139 |
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Cost of Sold Goods |
293,901,999,082 |
242,368,980,550 |
270,268,740,999 |
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Gross Profit |
53,149,057,171 |
37,612,584,578 |
39,718,308,140 |
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Selling & Admin. Expenses |
15,893,057,897 |
15,241,892,287 |
14,495,758,880 |
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Operating Income |
37,255,999,274 |
22,370,692,291 |
25,222,549,260 |
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Non-Operating Income |
13,940,977,935 |
24,263,671,530 |
40,089,493,081 |
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Non-Operating Expenses |
14,023,463,049 |
26,076,009,820 |
46,595,231,569 |
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Income Before Taxes |
37,173,514,160 |
20,558,354,001 |
18,716,810,772 |
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Income Taxes Expenses |
8,756,144,947 |
4,940,853,902 |
4,921,812,084 |
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Net Income |
28,417,369,213 |
15,617,500,099 |
13,794,998,688 |
Cash
Flows
|
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Cash Flows from Operating |
43,974,009,609 |
52,218,471,506 |
-11,485,246,304 |
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-Net Income |
28,417,369,213 |
15,617,500,099 |
13,794,998,688 |
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-Exp. without Cash Outflow |
10,874,829,915 |
11,325,564,144 |
23,397,543,837 |
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-Revenue without Cash Inflows |
-1,211,897,709 |
-4,504,333,345 |
-7,872,741,011 |
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-Changes in Asset/ & Liability |
5,893,708,190 |
29,779,740,608 |
-40,805,047,818 |
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Cash Flows from Investing |
-2,843,804,184 |
-1,620,931,310 |
-3,167,744,815 |
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-Cash Inflow from Investing |
778,450,489 |
1,000,955,332 |
893,398,887 |
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-Cash Outflows for Investing |
-3,622,254,673 |
-2,621,886,642 |
-4,061,143,702 |
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Cash Flows from Financing |
-12,854,275,000 |
-61,148,745,000 |
25,176,980,000 |
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-Cash Inflows from Financing |
- |
225,500,000,000 |
49,734,160,000 |
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-Cash Outflows from Financing |
-12,854,275,000 |
-286,648,745,000 |
-24,557,180,000 |
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Increase/Decrease in Cash |
28,275,930,425 |
-10,551,204,804 |
10,523,988,881 |
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Cash at the Beginning of Year |
45,416,642 |
10,596,621,446 |
72,632,565 |
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Cash at the End of Year |
28,321,347,067 |
45,416,642 |
10,596,621,446 |
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Main Products & Services |
Carbon Black |
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Suppliers |
EVONIK DEGUSSA GMBH |
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Customers |
EVONIK DEGUSSA GMBH( |
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Competitors |
COLUMBIAN CHEMICALS KOREA CO., LTD. 1-3, WOLHA-DONG, YEOSU-SI, TEL:+82-61-688-3333 FAX:+82-61-688-3315 OCI CO., LTD. 50, SOGONG-DONG, JUNG-GU, TEL:+82-2-727-9500 FAX:+82-2-773-0615 KYUNGWOO CORPORATION RM. 910, TEL:+82-2-2164-8380 FAX:+82-2-2164-8384 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
EVONIK CARBON BLACK GMBH EVONIK DEGUSSA KOREA LTD. EVONIK DEGUSSA CORP EVONK DEGUSSA JAPAN CO., LTD. EVONIK DEGUSSA DEGUSSA HONGKONG LTD. DEGUSSA DEGUSSA TAIWAN LTD. DEGUSSA CHINA CO., LTD. ALGORAX PTY., LTD. QINGDAO DEGUSSA CHEMICAL CO., LTD. EVONIK SERVICE GMBH EVONIK WELLINK SILICA |
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Corporate Ownership |
EVONIK INDUSTRIES AG EVONIK DEGUSSA GMBH( |
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Major Shareholders |
EVONIK DEGUSSA GMBH( |
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Cooperative |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) -Purchasing Services/Technical Consulting Services/Management
Services/Technologies & Know-how Agreement with EVONIK DEGUSSA GMBH |
(Activity & Markets)
The Subject deals
with the companies in
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.56 |
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|
1 |
Rs.81.05 |
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Euro |
1 |
Rs.67.49 |
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 |
|
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.