MIRA INFORM REPORT
|
Report Date : |
05.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
CFS |
|
|
|
|
Registered Office : |
Viale Della Lirica, 35, 48100- Ravenna
(RA) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
23.11.1990 |
|
|
|
|
Com. Reg. No.: |
MI146-347657 since 19/02/1996 |
|
|
|
|
Legal Form : |
Joint stock company with sole shareholder |
|
|
|
|
Line of Business : |
Manufacture of various chemical products for industrial usage
(including antidetonating and anti-freeze
preparations) |
|
|
|
|
No. of Employees
: |
36 to 50 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
120.000 Eur |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment
Behaviour : |
No Complaints |
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|
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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) |
|
Italy |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Cfs Europe S.p.a
Viale Della Lirica, 35
48100 - Ravenna (RA) -IT-
Summary
|
Fiscal Code |
: |
03902320823 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
|
start of Activities |
: |
18/04/1995 |
|
Equity |
: |
2.500.000 Eur |
|
Turnover Range |
: |
20.000.000/25.000.000 Eur |
|
Number of Employees |
: |
from 36 to 50 |
Credit Analysis
|
Credit Opinion |
: |
120.000 - Eur |
Highlights
|
Since the end of 2011 the company under reviews
(ex Borregaard Italia SpA) |
|
belongs to the group headed by Camlin Fine Chemicals Ltd. |
|
Camlin Fine Chemicals
Limited is engaged in the manufacture and export |
|
of fine chemicals and food grade products. |
|
The acquisition was a part of Camlin Fine Chemicals backward integration strategy |
|
Camlin Fine Chemicals
is listed at Mumbai Stock Exchange. |
|
Before the acquisition the company was
living a very difficult moment and rumours |
|
told about a possible liquidation and
closure of the plant in Ravenna. |
|
Even though the acquisition has brought
fresh money and a good reorganization plan, |
|
we would suggest a moderate credit line
and to follow further developments. |
Activity
Manufacture of various chemical
products for industrial usage (including antidetonating
and anti-freeze preparations)
Legal Data
Legal Form : Joint stock company
with sole shareholder
|
Fiscal Code : 03902320823 |
|
Foreign Trade Reg. no. : MI227773 since
15/06/1995 |
|
Chamber of Commerce no. : 285551 of
Bergamo |
|
Chamber of Commerce no. : 1453240 of Milano since 12/10/1994 |
|
Chamber of Commerce no. : 134927 of
Ravenna since 21/03/2011 |
|
Firms' Register : MI146-347657 since
19/02/1996 |
|
V.A.T. Code : 11310150153 |
|
Foundation date |
: 23/11/1990 |
|
|
Establishment date |
: 23/11/1990 |
|
|
Start of Activities |
: 18/04/1995 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.000.000 |
Eur |
|
Subscribed Capital |
: 2.000.000 |
Eur |
|
Paid up Capital |
: 2.000.000 |
Eur |
Members
|
|
Menezes |
Antonio Jose' |
|
|
|
Born in Goa |
on 21/03/1948 |
- Fiscal Code : MNZNNJ48C21Z222B |
|
|
|
Residence : |
Via |
Martiri Della Liberta' |
, 49 |
- 20090 |
Segrate |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
08/03/2011 |
|
|
|
Director |
08/03/2011 |
|
|
|
Director |
28/10/1994 |
|
|
|
|
No Protests
registered |
|
|
Correale |
Mariano |
|
|
|
Born in Sarno |
(SA) |
on 25/08/1947 |
- Fiscal Code : CRRMRN47M25I438V |
|
|
|
Residence : |
Via |
B. Belotti |
, 42 |
- 24040 |
Bonate Sotto |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
08/03/2011 |
|
|
|
Director |
08/03/2011 |
|
|
|
|
No Protests
registered |
|
|
Ashish |
Dandekar |
|
|
|
Born |
on 02/06/1963 |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
08/03/2011 |
|
|
|
Board Chairman |
08/03/2011 |
|
|
|
|
No Protests
registered |
|
|
Momaya |
Nirmal |
|
|
|
Born |
on 28/07/1966 |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
08/03/2011 |
|
|
|
Assistant board Chairman |
08/03/2011 |
|
|
|
|
No Protests
registered |
|
|
Paglietti |
Nicola |
|
|
|
Born in Roma |
(RM) |
on 11/03/1965 |
- Fiscal Code : PGLNCL65C11H501K |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
08/03/2011 |
|
|
|
|
No Protests
registered |
|
|
Puranik |
Dattatraya |
|
|
|
Born in Mumbai |
on 30/10/1952 |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
08/03/2011 |
|
|
|
|
No Protests
registered |
|
|
Scudellari |
Maria |
|
|
|
Born in Ravenna |
(RA) |
on 16/12/1982 |
- Fiscal Code : SCDMRA82T56H199D |
|
||
|
Position |
Since |
Shares Amount |
% Ownership |
|||||
|
Procurator |
26/10/2011 |
|
|
|||||
|
|
No Protests
registered |
|
|
Passeri |
Sauro |
|
|
|
Born in Urbino |
(PS) |
on 06/10/1981 |
- Fiscal Code : PSSSRA81R06L500X |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
26/10/2011 |
|
|
|
|
No Protests
registered |
Companies
connected to members *
*checkings
have been performed on a national scale.
In this module the companies in
which members hold/held positions are listed.
The Members of the subject firm
are not reported to be Members in other companies.
Capital
Shareholders
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Cfcl Mauritius Pvt Ltd |
|
|
2.000.000 .Eur |
100,00 |
Direct Participations
The Company under review has
participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
EUROVANILLIN ITALIA S.R.L. |
Milano - IT - |
10211980155 |
|
|
|
|
Active |
|
Ravenna Servizi Industriali Societa' Consortile Per Azioni O, In
Forma Abbreviat |
Ravenna - IT - |
02168860399 |
117.600 .Eur |
1,96 |
|
|
Active |
Firm's location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and
operative seat |
|
since 06/11/1995 |
|
|
|
|
|
Viale |
Della Lirica |
, 35 |
- 48100 |
- Ravenna |
(RA) |
- IT - |
|
|
|
|
PHONE |
: 0544/261502-503 |
|
|
|
|
Mob. Ph. |
: 335290887 |
|
- |
Registered
office |
since 06/11/1995 |
until 06/12/2011 |
|
|
|
|
|
Via |
Giosue' Carducci |
, 15 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/86451933 |
|
|
|
|
PHONE |
: 035/4998111 |
|
|
|
|
FAX |
: 035/994969 |
|
- |
Branch |
|
since 16/06/1995 |
|
|
|
|
|
Via |
Baiona |
, 107/111 |
- 48100 |
- Ravenna |
(RA) |
- IT - |
|
|
|
|
Employees |
: 39 |
|
Fittings and Equipment for a value of
4.210.000 |
Eur |
|
Stocks for a value of 640.000 |
Eur |
|
|
Historical Information and/or Firm's Status
CHANGES
TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
06/11/1995 |
COMPANY
STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Borregaard Italia SpA |
Cfs Europe SpA |
06/12/2011 |
EX-MEMBERS
/ EX-POSITIONS:
|
|
Campanale |
Michele |
|
|
|
Born in Ruvo di Puglia |
on 11/10/1950 |
- Fiscal Code : CMPMHL50R11H645R |
|
|
|
Residence : |
Via |
G. Verga |
, 135/O |
- 20092 |
Cinisello Balsamo |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Pretti |
Giorgio |
|
|
|
Born in Milano |
on 11/05/1954 |
- Fiscal Code : PRTGRG54E11F205A |
|
|
|
Residence : |
Via |
Solari |
, 9 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Zambelli |
Paolo |
|
|
|
Born in Varese |
on 04/07/1952 |
- Fiscal Code : ZMBPLA52L04L682R |
|
|
|
Residence : |
Via |
Carducci |
, 15 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Vichi |
Diego |
|
|
|
Born in Sondrio |
on 26/04/1941 |
- Fiscal Code : VCHDGI41D26I829J |
|
|
|
Residence : |
Viale |
Piave |
, 9 |
- 20129 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Filomeni |
Paolo |
|
|
|
Born in Anghiari |
on 07/10/1944 |
- Fiscal Code : FLMPLA44R07A291J |
|
|
|
Residence : |
Via |
Dei Chiaramonti |
, 19 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Director |
|
Attorney with special power |
|
Managing Director |
|
|
Menezes |
Antonio Jose' |
|
|
|
Born in Goa |
on 21/03/1948 |
- Fiscal Code : MNZNNJ48C21Z222B |
|
|
|
Residence : |
Via |
Martiri Della Liberta' |
, 49 |
- 20090 |
Segrate |
(MI) |
- IT - |
|
Ex-Postions |
|
Attorney with special power |
|
|
Calderoni |
Carlo |
|
|
|
Born in Forli' |
on 19/08/1954 |
- Fiscal Code : CLDCRL54M19D704A |
|
|
|
Residence : |
Via |
G. Guidiccioni |
, 15 |
- 47100 |
Forli' |
(FO) |
- IT - |
|
Ex-Postions |
|
Procurator |
|
|
Correale |
Mariano |
|
|
|
Born in Sarno |
on 25/08/1947 |
- Fiscal Code : CRRMRN47M25I438V |
|
|
|
Residence : |
Via |
B. Belotti |
, 42 |
- 24040 |
Bonate Sotto |
(BG) |
- IT - |
|
Ex-Postions |
|
irector |
|
|
Brembilla |
Maria Rosa |
|
|
|
Born in Bergamo |
on 13/05/1951 |
- Fiscal Code : BRMMRS51E53A794N |
|
|
|
Residence : |
Via |
Dante |
, 20 |
- 24040 |
Bonate Sotto |
(BG) |
- IT - |
|
Ex-Postions |
|
Procurator |
|
|
Locatelli |
Elianora |
|
|
|
Born in Terno d'Isola |
on 30/06/1954 |
- Fiscal Code : LCTLNR54H70L118L |
|
|
|
Residence : |
Via |
Castegnate |
, 5 |
- 24030 |
Terno d'Isola |
(BG) |
- IT - |
|
Ex-Postions |
|
Procurator |
|
|
Grys |
Thomas |
|
|
|
Born in Roskilde |
on 21/08/1970 |
- Fiscal Code : GRYTMS70M21Z107I |
|
|
|
Residence : |
Hjalmer Wessels Vei |
, 10 |
Sarpsborg |
- NO - |
|
Ex-Postions |
|
Director |
|
|
Borregaard Industries Ltd |
|
|
|
|
Ex-Postions |
|
Sole partner |
|
|
Amundsen |
Bjorn Erik |
|
|
|
Born in Bergen |
on 27/07/1964 |
- Fiscal Code : MNDBRN64L27Z125M |
|
|
|
Residence : |
Via |
Carso |
, 73 |
- 24040 |
Madone |
(BG) |
- IT - |
|
Ex-Postions |
|
Director |
|
Board Chairman |
|
|
Wikeby |
Jarle |
|
|
|
Born in Rodenes |
on 12/03/1958 |
- Fiscal Code : WKBJRL58C12Z125C |
|
|
|
Residence : |
Carso |
, 73 |
- 24040 |
Madone |
(BG) |
- IT - |
|
Ex-Postions |
||||||||
|
Director |
||||||||
|
|
Meregalli |
Daniela |
|
|
|
Born in Milano |
on 13/06/1957 |
- Fiscal Code : MRGDNL57H53F205A |
|
|
|
Residence : |
Via |
Carducci Giosue' |
, 15 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm
absorbed by merging of |
|
|
|
EUROVANILLIN
ITALIA S.R.L. |
|
|
|
Via |
MEDICI DEL VASCELLO |
, 40 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
|
Fiscal Code: 10211980155 |
|
|
|
Date |
: |
12/10/1995 |
Protests
Protests checking on the subject
firm has given a negative result.
Data Base Prejudicial Events
Search
Search performed on a National
Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a
specialized data base.
Legal Procedures
None reported, standing to the latest
received edition of the Official Publications.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA INTESA - RETE CARIPLO |
|
|
|
|
6070 |
0 |
Financial and Economical Analysis
Subject is active since 1995
The analysis is based on the
latest 3 balance sheets.
Unstable economic results mark
the company's financial state of affairs. with a negative economic result in
the last financial year. In the last financial year a drop in sales has been
registered (-98,49%).
The operating result is
negative.
The amount of the operating loss
for 2011 is equal to Eur. -623.584.
It has been registered a
negative gross operating margin value of (Eur.
-596.365).
Company's financial status is
balanced since indebtedness is not high (1,48) but with an increase as against
the previous accounting period.
The equity capital is equal to Eur. 2.853.870 with a -29,52% fall.
Total indebtedness totalled Eur. 5.447.521, , a more
or less stable value.
The recourse to financial credit
is within the limits; on the other hand the recourse to suppliers' credit is
rated as fairly high but lined up with the field's average.
Liquid assets are not adequatel to subject's needs.
Trade credits are collected
slowly, average term is 1558,85 days. but on the same levels as the average of
the sector.
Cash flow is negative at the end
of financial year 2011.
In the last financial year labour cost was of Eur. 669.552,
with a 39,27% incidence on total costs of production. , whereas 199,65% is the
incidence on sales revenues.
Financial incomes cover
financial charges.
Financial Data
|
|
|
Partial result |
31/03/2011 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
335.369 |
|
|
|
Complete balance-sheet for the year |
31/03/2011 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
335.369 |
|
Profit (Loss) for the period |
-605.697 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
22.252.502 |
|
Profit (Loss) for the period |
324.787 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
18.016.710 |
|
Profit (Loss) for the period |
-2.342.121 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
21.736.191 |
|
Profit (Loss) for the period |
-3.672.168 |
Balance Sheets
From our constant monitoring of the
relevant Public Administration offices, no more recent balance sheets result to
have been filed.
|
- Balance Sheet
as at 31/03/2011 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2010 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/03/2011 |
as at 31/12/2010 |
as at 31/12/2009 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,56 |
0,34 |
0,30 |
0,33 |
|
Elasticity Ratio |
Units |
0,44 |
0,65 |
0,69 |
0,65 |
|
Availability of stock |
Units |
0,07 |
0,06 |
0,41 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,36 |
0,59 |
0,28 |
0,47 |
|
Quick Ratio |
Units |
0,14 |
0,13 |
0,00 |
0,01 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,48 |
0,99 |
3,70 |
1,60 |
|
Self Financing Ratio |
Units |
0,33 |
0,41 |
0,10 |
0,28 |
|
Capital protection Ratio |
Units |
0,51 |
0,43 |
1,25 |
0,69 |
|
Liabilities consolidation quotient |
Units |
0,08 |
0,10 |
0,13 |
0,21 |
|
Financing |
Units |
1,91 |
1,32 |
3,72 |
2,10 |
|
Permanent Indebtedness Ratio |
Units |
0,38 |
0,46 |
0,15 |
0,47 |
|
M/L term Debts Ratio |
Units |
0,05 |
0,05 |
0,05 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,20 |
0,00 |
0,00 |
0,66 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,67 |
1,34 |
0,49 |
1,28 |
|
Current ratio |
Units |
0,70 |
1,21 |
1,87 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,58 |
1,10 |
0,76 |
0,90 |
|
Structure's primary quotient |
Units |
0,58 |
1,19 |
0,33 |
0,90 |
|
Treasury's primary quotient |
Units |
0,22 |
0,25 |
0,01 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
306,37 |
244,54 |
1.007,12 |
353,06 |
|
Current Capital ( net ) |
Value |
-1.642.776 |
1.112.322 |
4.472.758 |
592.597 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
- 172,49 |
13,27 |
- 8,33 |
3,97 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
- 21,22 |
8,02 |
- 169,43 |
2,57 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
- 21,22 |
8,02 |
- 165,09 |
9,20 |
|
Return on Investment ( R.O.I. ) |
% |
- 7,13 |
- 62,97 |
- 15,59 |
3,84 |
|
Return/ Sales |
% |
- 185,94 |
- 28,02 |
- 12,05 |
4,05 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
25,15 |
|
Cash Flow |
Value |
-578.478 |
2.953.938 |
-1.501.475 |
315.999 |
|
Operating Profit |
Value |
-623.584 |
-6.235.548 |
-2.170.208 |
279.308 |
|
Gross Operating Margin |
Value |
-596.365 |
-3.606.397 |
-1.329.562 |
532.533 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
1.558,85 |
71,21 |
75,12 |
104,54 |
|
Debts to suppliers average term |
Days |
1.102,22 |
65,23 |
87,99 |
96,16 |
|
Average stock waiting period |
Days |
683,39 |
9,40 |
113,63 |
50,38 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,04 |
2,25 |
1,29 |
1,16 |
|
Rate of stock return |
Units |
0,53 |
38,30 |
3,17 |
7,14 |
|
Labour cost incidence |
% |
199,65 |
12,59 |
13,77 |
13,54 |
|
Net financial revenues/ charges incidence |
% |
5,33 |
0,24 |
- 0,62 |
- 1,46 |
|
Labour cost on
purchasing expenses |
% |
39,27 |
10,70 |
10,83 |
13,80 |
|
Short-term financing charges |
% |
n.c. |
n.c. |
2,22 |
3,24 |
|
Capital on hand |
% |
2.607,12 |
44,50 |
77,27 |
86,41 |
|
Sales pro employee |
Value |
12.421 |
855.865 |
439.431 |
352.121 |
|
Labour cost pro
employee |
Value |
24.798 |
107.750 |
60.512 |
44.319 |
Market / Territory Data
|
Population living in the province |
: |
365.369 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expenses average
in the region (in Eur.) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
Sector Data
The values are calculated on a
base of 435 significant companies.
The companies cash their credits
on an average of 104 dd.
The average duration of
suppliers debts is about 96 dd.
The sector's profitability is on
an average of 3,97%.
The labour
cost affects the turnover in the measure of 13,54%.
Goods are held in stock in a
range of 50 dd.
The difference between the sales
volume and the resources used to realize it is about 1,16.
The employees costs represent
the 13,80% of the production costs.
Statistical Detrimental Data
The area is statistically
considered moderately risky.
In the region 18.860 protested
subjects are found; in the province they count to 2.146.
The insolvency index for the
region is 0,46, , while for the province it is 0,60.
Total Bankrupt companies in the
province : 1.073.
Total Bankrupt companies in the
region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.05 |
|
UK Pound |
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
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.