MIRA INFORM REPORT
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Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
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Name : |
COCA-COLA AMATIL (AUST) PTY LTD |
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Registered Office : |
Level 14, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
29.11.1996 |
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Com. Reg. No.: |
076594119 |
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Legal Form : |
Australian Proprietary
Company |
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Line of Business : |
Manufacturing, distribution
and marketing of carbonated soft drinks |
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No. of Employees : |
15,666 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Australia |
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 |
Verified Address
Subject name : COCA-COLA AMATIL (AUST) PTY LTD
Business address : Level 14, 40 Mount Street
Town : North Sydney
Province : New South Wales
Zip/postal code : 2060
Country : Australia
Tel : +61 2 92596222
Fax : +61 2 94368715
Website : www.ccamatil.com
Registered address : Level 14, 40 Mount Street
Town : North Sydney
Province : New South Wales
Zip/postal code : 2060
Country : Australia
Executive Summary
Date founded or registered : 29/11/1996
Legal form : Australian
Proprietary Company
Chief executive : Warwick Graham White
Issued & paid up capital
: AUD 508,026,071
Sales turnover : AUD
4,856,100,000 (Group-consolidated 12 months, 31/12/2011)
Net income : AUD 591,800,000
(Group-consolidated 12 months, 31/12/2011)
Total fixed assets : AUD 6,029,000,000
(Group-consolidated 12 months, 31/12/2011)
Line of business : Manufacturing,
distribution and marketing of carbonated soft drinks.
Staff employed : 15,666 employees (Amatil
Group)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Comments : Larger credit can
still be considered. The Subject is well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration date : 29/11/1996
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
076594119
Registered authority : Australian Securities & Investments
Commission
Fiscal/ Tax no : Australian Business Number:
68076594119
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Warwick Graham White
Designation : Managing Director
Name : Nessa Ita O'Sullivan
Designation : Chief Financial Officer
Name : Terry James Davis
Designation : Director
Appointments
Name : Patrick Joseph Malloy
Designation : Director
Appointment date : 28/07/00
Address : 11 Hastings Road
Warrawee,
NSW 2074
Australia
Biography : Born on 21-07-1952 in Sydney,
New South Wales, Australia.
Name : Warwick Graham White
Designation : Director
Appointment date : 13/11/02
Address : 19 Billyard Avenue
Wahroonga,
NSW 2076
Australia
Biography :
Born on 08-04-1961 in
Melbourne, Victoria, Australia.
Mr. Warwick G. White has been
Managing Director - Australasia of Coca Cola Amatil Ltd since November 2002. He
has 29 years in the Coca-Cola System and rejoined Coca-Cola Amatil in November
2002 as the Managing Director for the CCA Australian beverages business.
Prior to that, he held marketing and general management roles within the Coca-Cola System. Immediately prior to joining CCA, he was Regional Director for Coca-Cola Hellenic Bottling Company with responsibility for Ireland, Poland, Hungary, Czech Republic and Slovakia. This was preceded by 13 years in Great Britain, Europe and Ireland in progressively more senior roles within the Coca-Cola System.
Name : Alec Wagstaff
Designation : Director
Appointment date : 07/07/05
Address : 31 Osborne Road
Manly, NSW 2095
Australia
Biography : Born on 17-05-1958 in United Kingdom.
Name : Bruce
Alexander Herbert
Designation : Director
Appointment date : 02/06/06
Address : 47 Glenhope Road
West Pennant Hills,
NSW 2125
Australia
Biography : Born on 10-10-1960 in Brisbane, Queensland,
Australia.
Name : Nessa
Ita O'Sullivan
Designation : Director
Appointment date : 07/07/05
Address : 24 Kirkoswald Avenue
Mosman, NSW 2088
Australia
Biography
:
Born on 29-11-1964 in Ireland.
Ms.
Nessa O'Sullivan has been Group Chief Financial Officer of Coca-Cola Amatil Ltd
since September 1, 2010. She joined CCA in May 2005 as CFO for the Australian
Beverage business. Prior to joining CCA, she held the role of CFO and VP for
the Australia/New Zealand region of Yum! Restaurants International. She spent
12 years with Yum! in senior roles in Finance, Strategic Planning and IT. She
holds dual Irish and Australian citizenship and has worked in Europe, the
United States and Australia. Nessa has been CCA's Chief Financial Officer – Operations since April 2008 and assumed
the role of CCA's Group Chief Financial Officer from September 1, 2010. She is
Fellow of the Institute of Chartered Accountants in Ireland and a graduate of
University College Dublin.
Name
: Terry James
Davis
Designation : Director
Appointment date : 20/11/01
Address : 353 Edinburgh Road
Castlecrag, NSW 2068
Australia
Biography : Born on 13-11-1957 in Orange, New South Wales,
Australia.
Mr.
Terry James Davis is Group Managing Director and Executive Director of
Coca-Cola Amatil Ltd. He joined the Company in November 2001 as Group Managing
Director after 14 years in the global wine industry with most recent
appointment as Managing Director of Beringer Blass (the wine division of
Foster's Group Ltd).
He
is also Director of Seven Group Holdings Limited and was Director of St. George
Bank Limited until December 2008. He acts as Council Member of the University
of New South Wales Council
Name : George
Thomas Forster
Designation : Company
Secretary
Appointment date : 14/02/07
Address : 50 Murray Street
Pyrmont,
NSW 2009
Australia
Biography :
Born on 17-04-1954 in
Budapest, Hungary.
Mr. George T. Forster has been General Counsel and Company
Secretary of Coca Cola Amatil Ltd since February 14, 2007. Mr. Forster joined
CCA in April 2005 as General Counsel. Mr. Forster holds Bachelor of Laws and
Bachelor of Commerce degrees from The University of New South Wales and has
experience of over 30 years as a corporate and commercial lawyer, including
having been a
partner of Freehills in
Sydney.
Name : Margot Christine
Maasakkers
Designation : Company Secretary
Appointment date : 31/03/08
Address : 15 Jane Street
Balmain,
NSW 2041
Australia
Biography : Born on 29-04-1948 in Sydney,
New South Wales, Australia.
Staff employed : 15,666 employees (Amatil Group)
Key Advisors
Auditors : ERNST & YOUNG
321 Kent
Street
Sydney,
NSW 2000
Australia
Composition
Authorized Capital : AUD 508,026,071
No of shares : 508,026,071 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 508,026,071
Paid up capital : AUD
508,026,071
How listed : Full List
Composition
Shareholder name : COCA-COLA AMATIL LIMITED
Address : Level 14, 40 Mount Street
North
Sydney, NSW 2060
Australia
No. of shares : 508,026,071 Ordinary Shares
% of shares : 100%
Structure
Name : COCA-COLA AMATIL
LIMITED
Affiliation type : Parent Company
Address : Level 14, 40 Mount Street
North
Sydney, NSW 2060
Australia
Comments :
Coca-Cola Amatil Limited, together with its subsidiaries, engages
in the manufacture, distribution, and marketing of carbonated soft drinks,
sports and energy drinks, still and mineral waters, flavoured milk, fruit
juices, coffee, and other alcohol-free beverages. The company also involves in
processing and marketing fruit, vegetables, and other food products, as well as
manufactures and/or distributes premium beer and spirits. It operates primarily
in Australia, New Zealand, Fiji, Indonesia, and Papua New Guinea. The company
was formerly known as Amatil Limited and changed its name to Coca-Cola Amatil
Limited in 1989. Coca-Cola Amatil Limited was founded in 1904 and is based in
North Sydney, Australia.
Name : APAND
PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : Level 14, 40 Mount Street
North Sydney, NSW 2060
Australia
Name : BAYMAR
PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : Level 14, 40 Mount Street
North Sydney, NSW 2060
Australia
Name : BEVERAGE
BOTTLERS (NQ) PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : Ingham Road
Townsville,
QLD 4810
Australia
Name : BEVERAGE
BOTTLERS (QLD) LTD
Affiliation type : Wholly-owned Subsidiary
Address : Australia
Name : CAN
RECYCLING (S.A.) PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : 16A Duncan Court
Ottoway, SA 5031
Australia
Name : COCA-COLA
AMATIL (HOLDINGS) PTY LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : Level 15, 71 Macquarie Street
Sydney, NSW 2000
Australia
Name : CRUSTA
FRUIT JUICES PROPRIETARY LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : 17 Duncan Road
Dry Creek, SA 5094
Australia
Name : QUIRKS
AUSTRALIA PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : 198 Power Street
Glendenning, NSW 2761
Australia
Name : QUENCHY
CRUSTA SALES PTY. LTD.
Affiliation type : Wholly-owned Subsidiary
Address : 17 Duncan Road
Dry Creek, SA 5094
Australia
Related companies
and corporate affiliations comments
Other companies of the Coca-Cola Amatil
Limited should be considered affiliates of the Subject.
Bank Details
Name of bank : Citibank Australia
Address : Australia
Account details : Current Account
Comments :
It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of financial statement
: Public Record Sources
Financial statement date : 31/12/11
Type of accounts : Full audited
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.03 as of
31-05-2012
Summarized
Financial Information
Consolidation type : Group Consolidated Group Consolidated Group Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1) One (x1) One (x1) One
Date of financial year end : 31/12/11 31/12/10 31/12/09
Length of accounts : 12 months 12 months 12 months
Sale turnover / Income : 4,856,100,000
4,609,400,000 4,560,000,000
Operating profit : 870,500,000 844,900,000 787,300,000
Profit before tax : 742,700,000 710,500,000 653,400,000
Net income : 591,800,000 497,300,000 449,000,000
Non current assets : 3,384,700,000 3,290,900,000
3,090,900,000
Current assets : 2,644,300,000 1,986,900,000 2,479,900,000
Inventories : 752,400,000 735,300,000 753,900,000
Total assets : 6,029,000,000 5,277,800,000 5,570,800,000
Current liabilities : 1,388,400,000 1,202,100,000 1,822,100,000
Non current liabilities : 2,606,300,000 2,242,300,000 2,148,600,000
Total liabilities : 3,994,700,000 3,444,400,000 3,970,700,000
Share equity : 2,034,300,000 1,833,400,000 1,600,100,000
Reserve : -91,500,000 -39,800,000 -38,300,000
Retained earning : -75,900,000 -289,100,000 -444,600,000
Comments :
The group’s consolidated
financial information above relates to the Subject’s Parent Company Coca-Cola
Amatil Limited and all its subsidiaries which include the Subject.
Main activities :
The Subject engages in
manufacturing, marketing, sales and distribution of carbonated soft drinks,
bottled water, fruit juices and sports & energy drinks.
The Subject is part of Coca-Cola Amatil Limited (CCA) which
manufactures, distributes and markets carbonated soft drinks, still and mineral
waters, fruit juices, coffee and other alcohol-free beverages. The Company is
also engaged in the processing and marketing of fruit, vegetables and other
food products and the manufacture and/or distribution of beer brands and the
spirit portfolio of global distributor Beam Global Spirits & Wines, by
Pacific Beverages Pty Ltd: a joint venture entity between CCA and SABMiller
plc. CCA’s principal operations are in Australia, New Zealand, Fiji, Indonesia
and Papua New Guinea (PNG).
The Subject bottles and distributes these beverage brands in its
territories under licence from The Coca-Cola Company.
Product & services :
· Carbonated drinks
· Bottled water
· Sports drinks
· Juice
· Energy Drink
· Flavoured milk
Brand :
Coca-Cola, Diet Coca-Cola,
Sprite, Deep Spring, Kirks, Coke Zero, Fanta, Powerade, Glacéau and Pump
Purchases
International : Asia, United States
Sales
Local : Yes
International : Pacific Island
Key events : 16 December 2011
SALE OF SHARES IN PACIFIC BEVERAGES & TRADING UPDATE Coca-Cola Amatil Limited (CCA) is today outlining the implications for CCA of SABMiller’s acquisition of Foster’s Group (FGL) as well as providing an update on trading for the second half of 2011.
Sale of shares in Pacific
Beverages As a result of the completion of the acquisition of FGL, CCA is
entitled to
and will now require SABMiller to acquire its shares in Pacific Beverages, its joint venture beer operation in Australia and New Zealand.
The key material implications for CCA include:
- CCA will sell its 50% interest in Pacific Beverages to
SABMiller for $305 million and expects to record a profit after tax in the
second half of 2011 from the sale of approximately $165 million after taking
into account transaction, transition and other costs associated with the deal.
The profit will be recorded as a significant item in 2011 with the cash
proceeds expected to be received during the first quarter of 2012.
- Under the terms of the sale agreement with SABMiller, CCA will be restrained from selling, distributing or anufacturing beer in Australia for two years until the end of 2013. CCA will continue to be unrestricted in its
right to develop its beer business in all
other markets.
- CCA has the immediate right to acquire the whole or part of the FGL’s Australian spirit and spirit RTD business, the Australian non-alcoholic beverages business and the Fijian Brewery and Fijian liquor and Fijian non-alcoholic beverage business at multiples ranging from 5 to 10 times EBITDA, subject to due diligence and any regulatory approvals. As a guide, CCA would expect to undertake due diligence during the first quarter of 2012 and preliminary expectations are for an outlay of between $100-180 million for the assets with completion of any acquisition expected by mid 2012.
- CCA will continue to distribute
SABMiller’s premium beer brands in Australia and New Zealand until 16 January
2012, being the completion date of the sale of CCA’s shares in Pacific
Beverages to SABMiller.
Group Managing Director Terry Davis said, “We are very pleased with the outcome from the SABMiller transaction. We have secured a very strong price for our share of Pacific Beverages and have the opportunity to
acquire the Fosters spirits, ARTD and
non-alcoholic brands as well as the Fiji brewery and distillery at a cost that
delivers immediate EPS accretion to CCA.”
The development of our alcoholic beverage business remains a core growth strategy for CCA. Mr Davis said, “We have spent the past four years developing expertise in the manufacturing, sales and distribution of premium alcohol brands which gives us an excellent platform and knowledge base of opportunities for future growth. We have delivered significant value to SABMiller’s beer brands with five beers now represented in the Top15 premium beers in Australia. We also have developed a strong and growing spirits business underpinned by our long-term relationship with Beam Global and while in the short term we cannot compete in beer in Australia, we are not restricted in other markets and we would expect to be back in the beer business in Australia in early 2014.”
Outlook
for the second half of 2011
On a constant currency basis, CCA expects to deliver net profit growth of around 5% (before significant items) for the second half of 2011, with reported net profit expected to be around 0.5% lower due to the translation impact on offshore earnings.
The Australian business expects to deliver positive volume and revenue been difficult, with lower levels of consumer spending persisting from the first half, there has been an improvement in momentum since the RBA’s
announced cuts to official interest rates with solid growth in volumes since the beginning of November. We still have an important two weeks of trading ahead of us, and while we have had a solid start to the Christmas season across most of Australia, cool and wet weather has affected NSW trading.”
The business continues to
deliver efficiency and customer service improvements ahead of internal targets
from the strong pipeline of capital projects. Mr Davis said, “The rollout of
Project Zero initiatives continues to
enhance earnings growth and
we have a strong pipeline of projects extending out to at least 2015. Whilst
2011 was expected to be the peak year for spending on Project Zero, we are
pleased to confirm that we have
identified a range of
additional attractive projects which should see us increasing the rate of
capital spend in 2012.”
The outlook for growth in the Indonesian business remains very positive. Mr Davis said, “We had a strong festive trading period in Indonesia and the business continues to deliver material improvements in performance driven by improved operational capability and effective marketing programs by The Coca-Cola Company. Our up-weighted capital investment in the region has delivered a more efficient and scalable manufacturing and distribution platform this year, with further gains expected next year, and we will continue to invest in capacity expansion ahead of the curve in 2012.”
2011 significant items
CCA expects to record a significant profit after tax of around $60
million for 2011 comprising the above-mentioned profit of around $165 million
for the sale of shares in Pacific Beverages and around $105 million in costs
associated with the restructure of SPC Ardmona.
The restructure of the SPC Ardmona operations are progressing to plan.
Of the approximate $105 million in after tax significant costs expected for
2011, $80.5 million was recognised in the first half with around $24 million
expected to be incurred in the second half. Second half costs will include
around $15 million in employee redundancies and other costs, as advised in the
Interim Result in August, with the balance being a non-cash
restructuring charge. October 11, 2011
Coca-Cola Amatil investment to revolutionize manufacturing for
Australasia Coca-Cola Amatil Australasia (CCAA) has invested A$35 Million in
new “blowfill” technology at it’s the barton production facility in Adelaide,
enabling the company to design and manufacture its own bottles using less raw
materials.
CCAA’s Managing Director, Warwick White, described the new technology as the single largest capital investment in the company’s history, adding that it will fundamentally change the nature of manufacturing in the business.
He said, “The introduction of this technology has enabled us to
redesign and lightweight our entire small carbonated soft drink and water
bottle range. With innovation comes benefits which, in this case, are good for
CCA, our customers and the communities we operate in. They include significant
cost savings, production efficiency gains, increased product shelf life and
stacking ability.”
At a Group level, CCAA says it is committed to spending
approximately A$450 Million to install “blowfill” technology at all of the
Company’s production facilities in Australia, New Zealand, Indonesia, Papua New
Guinea and Fiji. Mr White said that “blowfill” technology is capable of meeting
the environmental goals set by CCA in both energy and water savings and is
expected to reduce the carbon footprint of the company’s beverage containers by
over 20%. He said a significant portion of these savings will come from bottle
redesigns that use less PET resin, with others from the elimination of the need
to transport empty bottles to CCA bottling facilities, and energy savings on
the line.
“This investment continues our lightweighting journey – a journey
which has already seen CCA achieve a 20% increase in packaging raw material
efficiency since 2004,” Mr White said.
CCAA’s Thebarton facility produces the full CCA range of
beverages including brands under licence from The Coca-Cola Company (including
Coca-Cola, Coca-Cola Zero, diet Coke, Sprite, Fanta, Powerade Isotonic), along
with Coca-Cola Amatil-owned brands. The The barton facility currently produces approximately 110 million PET bottles a year.
20 June 2011
Coca-Cola Amatil Limited Amends SABMiller plc JV, Paves Way For
Foster's Group Limited Bid-DJ Dow Jones reported that Coca-Cola Amatil Limited
and SABMiller plc are amending the terms of their joint venture (JV) amid a bid
for the South African listed brewer to bid for Foster's Group Limited.
Coca-Cola Amatil said in a statement its arrangement surrounding its existing
joint venture, Pacific Beverages, limit SAB Miller's ability to buy shares in
Foster's in its own right. Under the changes to the JV, if SAB Miller makes an
offer for Foster's within five years and acquires at least 50.01% of the
company, SAB Miller is entitled to acquire Coca-Cola Amatil's interest in
Pacific Beverages and Coca-Cola Amatil will have the right to take over parts
of Foster's business.
Property &
Assets
Premises : The Subject operates from head office located at the verified heading address consisting
of administrative office.
Branches : The Subject has production
facilities throughout Australia. One of the Subject main
facilities are located at:
33-43 Port
Road
The barton SA 5031
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 41.385 billion
Gross domestic product – GDP : US$ 1.235 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 55,590
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate 2008: 4.2 %
2009: 5.6 %
2010:5.2 %
Public debt
(General Government gross
debt as a % GDP) 2008: 11.6%
2009: 17.6%
2010: 22.3 %
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest companies in the country : Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac
Banking Group (Banking), Rio Tinto
(Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra
(Telecommunications)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and
transport equipment, computers and office machines, telecommunication equipment
and parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2007: US$45,477 million
2008: US$467,22 million
2009: US$ 22,572 million
FDI Outflows 2007: US$ 16,822 million
2008: US$ 32,819 million
2009: US$ 18,426 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 16
(ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet
users as % of total population
: 74.00%
Purchase Term
Local : Prepayment, Credit
30-90 days
International : L/C, Credit 30-90 days
Sales Term
Local : Prepayment, Credit
30-90 days
International : L/C, Credit 30-90 days
Trade Reference/
Payment Behaviour
Comments : As local and international
trade references were not supplied, the Subject's payment
track
record history cannot be appropriately determined but based on our research,
payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material
provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.92 |
|
UK Pound |
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.