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Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
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Name : |
HEARTYCHEM CORP |
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Formerly Known As : |
HEARTY &C CORP |
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Registered Office : |
159-1, Samseong 1-dong, Gangnam-gu,
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
18.08.1995 |
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Com. Reg. No.: |
105-81-73938 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Synthetic Rubber and Plastics Materials |
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No. of Employees : |
28 |
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 30, 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 |
HEARTYCHEM CORP. (Korean Company Name : “(주)하티켐”) |
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Registered Address |
159-1, Samseong 1-dong, Gangnam-gu,
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Building |
Rm. 1806, |
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Zip Code |
135-729 |
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Tel |
+82-2-6000-0886 |
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Fax |
+82-2-6000-0888 |
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E-mail |
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Website |
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Trading Address |
Rm. 1806, |
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Tel |
+82-2-6000-0886 |
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Fax |
+82-2-6000-0888 |
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Type |
Export/Import |
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Industry |
Wholesale of Synthetic Rubber and Plastics Materials |
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Main Business |
Synthetic Rubbers, Plastics, Polyurethane |
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Established (mm/dd/yyyy) |
08/18/1995 |
The Subject Company occupies the premises of
registered HQ address by leasing base.
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Rubber compound(13101607) |
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Sell |
Processed and synthetic rubber(13101600) |
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Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
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Name |
Kim Hyung-Kon |
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Address |
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Date of Birth |
08/10/1966 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
450,000,000 |
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Employees |
28 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Korea Exchange Bank-Int’l Trade Branch SC First Bank of Kookmin Bank Woori Bank |
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Corporate Registered No. |
110111-1187601 |
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Business Registered No. |
105-81-73938 |
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Permit & Licenses |
Int’l Trade No.: 11278485 |
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Shareholder Position |
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Company History |
08/18/1995 Incorporated as HEARTY &C
CORP. 09/04/1999 Moved to the present HQ address from 538, Dohwa-dong, Mapo-gu, 09/15/2000 Changed company name to the present name 11/2001 Awarded US$1 Million Export Top Prize 12/26/2008 Increased the authorized shares to 5,000,000 shares from
20,000 shares 11/2008 Awarded US$20 Million Export Top Prize 12/30/2008 Increased capital to 450,000,000
KRW from 50,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Kim Hyung-Kon |
Male |
Korean |
03/25/2008 |
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Director |
M/S. |
Kim Mi-Kyung |
Female |
Korean |
08/29/2001 |
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Director |
Mr. |
Cho Hyun-Il |
Male |
Korean |
01/08/2010 |
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Auditor |
Mr. |
Cho Hyun-Jung |
Male |
Korean |
03/21/2012 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
255,911,205,712 |
25,657,009,257 |
2,538,859,298 |
|
|
2010 |
174,626,810,011 |
15,613,794,894 |
2,335,523,519 |
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2009 |
83,438,751,991 |
14,194,541,177 |
2,180,925,964 |
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2008 |
130,767,902,888 |
9,858,885,423 |
4,035,414,244 |
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2007 |
51,955,825,996 |
7,362,859,919 |
524,212,489 |
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2006 |
- |
- |
- |
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2005 |
28,525,000,000 |
3,459,000,000 |
115,000,000 |
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Authorized Capital(KRW) |
50,000,000,000 |
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Paid-Up Capital(KRW) |
450,000,000 |
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Total Issues Shares |
45,000 |
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Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Total Assets |
25,657,009,257 |
15,613,794,894 |
14,194,541,177 |
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Current Assets |
22,701,967,673 |
12,282,952,428 |
11,197,004,369 |
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-Quick Assets |
20,173,739,371 |
11,085,164,054 |
9,994,150,910 |
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-Inventories |
2,528,228,302 |
1,197,788,374 |
1,202,853,459 |
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Fixed Assets |
2,955,041,584 |
3,330,842,466 |
2,997,536,808 |
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-Investment |
540,399,270 |
746,129,590 |
463,097,690 |
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-Tangibles |
2,070,658,604 |
2,160,148,766 |
2,305,595,208 |
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-Intangibles |
343,983,710 |
424,564,110 |
228,843,910 |
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Total Liabilities |
15,590,589,366 |
7,112,205,261 |
7,223,150,963 |
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Current Liabilities |
14,861,426,391 |
6,637,936,630 |
6,843,137,491 |
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Fixed Liabilities |
729,162,975 |
474,268,631 |
380,013,472 |
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Capital Stock |
450,000,000 |
450,000,000 |
450,000,000 |
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Capital Surplus |
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Profit Surplus |
9,727,066,301 |
8,088,207,003 |
6,652,683,484 |
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Capital Adjustment |
-110,646,410 |
-36,617,370 |
-131,293,270 |
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Total Equity |
10,066,419,891 |
8,501,589,633 |
6,971,390,214 |
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Liab. & Shareholder’s Equity |
25,657,009,257 |
15,613,794,894 |
14,194,541,177 |
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Current Liabilities |
14,861,426,391 |
6,637,936,630 |
6,843,137,491 |
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Trade Payables |
10,116,826,688 |
4,116,892,018 |
5,257,980,826 |
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Short-Term Borrowings |
2,068,469,751 |
700,000,000 |
700,000,000 |
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Account Payables |
1,519,529,193 |
1,065,999,763 |
579,431,539 |
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Accrued Income Tax |
685,361,170 |
373,248,670 |
100,020,580 |
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Advance Receipts |
281,166,958 |
278,300,089 |
104,385,706 |
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Withholdings |
190,072,631 |
103,496,090 |
101,318,840 |
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Fixed Liabilities |
729,162,975 |
474,268,631 |
380,013,472 |
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Provision for Severance & Retirement |
729,162,975 |
474,268,631 |
380,013,472 |
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Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Sales |
255,911,205,712 |
174,626,810,011 |
83,438,751,991 |
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Cost of Sold Goods |
237,120,220,871 |
159,761,036,071 |
75,750,220,095 |
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Gross Profit |
18,790,984,841 |
14,865,773,940 |
7,688,531,896 |
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Selling & Admin. Expenses |
14,462,974,581 |
11,828,441,955 |
5,060,242,621 |
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Operating Income |
4,328,010,260 |
3,037,331,985 |
2,628,289,275 |
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Non-Operating Income |
3,473,136,043 |
3,031,133,326 |
1,933,805,020 |
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Non-Operating Expenses |
4,248,856,768 |
3,045,813,142 |
1,687,754,391 |
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Income Before Taxes |
3,552,289,535 |
3,022,652,169 |
2,874,339,904 |
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Income Taxes Expenses |
1,013,430,237 |
687,128,650 |
693,413,940 |
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Net Income |
2,538,859,298 |
2,335,523,519 |
2,180,925,964 |
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Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Cash Flows from Operating |
582,248,649 |
3,406,449,790 |
771,652,898 |
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-Net Income |
2,538,859,298 |
2,335,523,519 |
2,180,925,964 |
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-Exp. without Cash Outflow |
1,262,915,647 |
415,106,721 |
218,426,149 |
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-Revenue without Cash Inflows |
-80,265,361 |
-103,785,233 |
-263,888,556 |
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-Changes in Asset/ & Liability |
-3,139,260,935 |
759,604,783 |
-1,363,810,659 |
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Cash Flows from Investing |
-638,877,572 |
-1,805,585,089 |
-3,379,049,859 |
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-Cash Inflow from Investing |
4,128,300,000 |
5,602,680,285 |
1,901,582,018 |
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-Cash Outflows for Investing |
-4,767,177,572 |
-7,408,265,374 |
-5,280,631,877 |
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Cash Flows from Financing |
468,469,751 |
-900,000,000 |
500,000,000 |
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-Cash Inflows from Financing |
2,628,469,751 |
703,800,000 |
700,000,000 |
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-Cash Outflows from Financing |
-2,160,000,000 |
-1,603,800,000 |
-200,000,000 |
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Increase/Decrease in Cash |
411,840,828 |
700,864,701 |
-2,107,396,961 |
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Cash at the Beginning of Year |
1,436,355,253 |
735,490,552 |
2,842,887,513 |
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Cash at the End of Year |
1,848,196,081 |
1,436,355,253 |
735,490,552 |
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Main Products & Services |
Synthetic Rubber Reprocess Rubbers Detergent Chemicals Feed Additives Non-Ferrous Metal Products Other Chemicals Nitrogen Fertilizers Phosphate Fertilizers Potash Fertilizers NP/NK/NPK Fertilizers |
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Detailed Products Spec. |
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Technologies Acquired |
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Competitors |
DYM CO., LTD. 624-2, EOPSEONG-DONG, SEOBUK-GU,
CHEONAN-SI, TEL:+82-41-621-6250 FAX:+82-41-621-8420 JUNGWOO TRADING CO., LTD. 869-11, EOGOK-DONG, YANGSAN-SI, TEL:+82-55-386-5003 FAX:+82-55-364-1778 HUMADE
CORPORATION RM. 2310, MASTERS TOWER BLDG., 553, DOHWA
1-DONG, MAPO-GU, TEL:+82-2-3275-5155~8 FAX:+82-2-3275-5157 |
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Affiliates |
HEARTYCHEM ASIA LTD.( RM.4206, FAREAST FINANCIAL CENTER, 16, TEL:+852-2861-1761 FAX:+852-2861-1760 THE EIGHT H CORPORATION(110111-4384246) (48.6% held by the subject company) FLOGIS INTERNATIONAL CORP.(110111-3954230) |
The Subject exports to
Not Available.
News Clipping
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
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|
1 |
Rs.81.94 |
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Euro |
1 |
Rs.67.65 |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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.