|
Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SOLVAY INDUPA DO BRASIL SA |
|
|
|
|
Formerly Known As : |
SOLVAY DO BRASIL S/A |
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|
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Registered Office : |
Rua Urussuí, 300, 3° Andar, Conjunto 301 - Itaim Bibi , Zip Code 04542-051 São Paulo/Sp |
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Country : |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
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Date of Incorporation : |
22.07.1941 |
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|
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|
Legal Form : |
Privately Held Corporation |
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|
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Line of Business : |
Manufacture and distribution of chemicals and petrochemicals |
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|
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No. of Employees : |
300 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
|
Litigation : |
Exists |
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
SOLVAY INDUPA DO
BRASIL S/A
|
MAIN ADDRESS: |
RUA URUSSUÍ, 300, 3° ANDAR, CONJUNTO 301 - ITAIM BIBI |
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ZIP CODE/CITY: |
04542-051 SÃO PAULO/SP |
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PHONE: |
11 3708-5152 |
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FAX: |
11 3708-5000 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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|
|
|
REQUESTED
ADDRESS: |
ESTRADA FERRO
SANTOS - JUNDIAÍ, KM 38 - VILA ELCLOR |
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ZIP CODE/CITY: |
09154-900 SANTO
ANDRE/SP |
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PHONE: |
11 4439-8887 |
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FAX: |
11 4439-8822 |
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CNPJ: |
61.460.325/0004-94 |
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STATE REGISTER: |
626.047.436.110 |
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|
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ADDRESS: |
RUA HANS DIETER SCHMIDT, 2745 SALA 01 |
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ZIP CODE/CITY: |
89219-500 JOINVILLE/SP |
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PHONE: |
47 3045-6244 |
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FAX: |
47 3045-6244 |
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CNPJ: |
61.460.325/0002-22 |
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STATE REGISTER: |
254.740.928 |
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MAIN ACTIVITIES: |
|
MANUFACTURE AND DISTRIBUTION OF CHEMICALS AND PETROCHEMICALS. |
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LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
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|
|
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INCORPORATION DATE: |
22/07/1941 |
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REGISTER DATE: |
12/08/1941 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
61.460.325/0001-41 |
|
STATE REGISTER: |
103.132.177.110 |
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|
|
|
SHARE CAPITAL: |
R$
233.420.986,84 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
CARLOS ALBERTO TIEGHI |
DIRECTOR |
|
PABLO ELIAS TABOH |
DIRECTOR |
|
MAURO FURLANETTO LIMA |
DIRECTOR |
|
VALTER WAGNER JUNIOR |
DIRECTOR |
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THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
SOLVAY INDUPA SAIC (ARGENTINA) |
99,99% |
|
OTHERS |
0,01% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
PERÓXIDOS DO BRASIL LTDA |
|
|
SOLVAY POLIETILENO LTDA |
|
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INERGY AUTOMOTIVE SYSTEMS DO BRASIL LTDA |
|
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SOLVAY QUIMICA LTDA |
|
|
SOLVAY FARMA LTDA |
|
|
SOLVAY SOLEXIS LTDA |
|
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PLÁSTICOS PLAVINIL S/A |
|
|
CIA. BRASILEIRA DE CARBURETO DE CÁLCIO |
|
|
EMPRESA SALINEIRA E NAVEGAÇÃO IGORONHOM S/A |
|
|
PERÓXIDOS DO BRASIL LTDA |
|
|
SOLVAY SAÚDE ANIMAL LTDA. |
|
|
PRODUTOS QUÍMICOS MAKAY LTDA. |
|
|
PARACATU AGRO INDUSTRIAL LTDA. |
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|
THE FIRM WAS ORGANIZED IN 1941 UNDER THE NAME STYLE INDÚSTRIAS
QUÍMICAS ELETRO CLORO S/A., CHANGING ITS NAME TO SOLVAY DO BRASIL S/A. ON
SEPTEMBER 18, 1989. THE CURRENT REGISTERED NAME WAS ADOPTED ON JULY 31, 1998.
FURTHER DETAILS ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
2 |
MUNICIPAL LAWSUITS |
05/09/2011 |
2ª VARA DE RIBEIRÃO PIRES/SP |
|
GENERAL BALANCE SHEETS AS OF 31/12/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
CASH AND BANKS |
6.542 |
8.203 |
55.127 |
|
CLIENTS |
104.074 |
153.521 |
82.941 |
|
INVENTORY |
66.867 |
58.856 |
51.020 |
|
RECOVERABLE TAXES |
17.098 |
17.809 |
14.486 |
|
OTHER CREDITS |
2.822 |
3.721 |
3.536 |
|
DEFERRED TAXES |
|
|
2.888 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
197.403 |
242.110 |
209.998 |
|
LONG-TERM RECEIVABLES:
|
|
|
|
|
|
|
|
|
|
DEFERRED TAXES |
71.821 |
65.048 |
58.416 |
|
OTHER CREDITS |
4.000 |
3.262 |
494 |
|
RECOVERABLE TAXES |
3.261 |
6.889 |
14.322 |
|
CLIENTS |
119 |
118 |
118 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
79.201 |
75.317 |
73.350 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
14 |
14 |
14 |
|
FIXED ASSETS |
582.025 |
595.314 |
594.710 |
|
INTANGIBLE |
35 |
21 |
48 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
582.074 |
595.349 |
594.772 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
858.678 |
912.776 |
878.120 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
LOANS AND FINANCING |
187.599 |
152.969 |
65.529 |
|
SUPPLIERS |
105.521 |
96.127 |
90.291 |
|
TAXES & CONTRIBUTIONS |
9.025 |
5.337 |
7.198 |
|
LABOR OBLIGATIONS |
9.027 |
8.659 |
7.194 |
|
DERIVATIVES OPERATIONS |
369 |
2.472 |
|
|
PROVISION FOR CONTINGENCIES |
3.465 |
3.465 |
3.760 |
|
OTHER DEBTS |
470 |
374 |
968 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
315.476 |
269.403 |
174.940 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
104.916 |
191.269 |
249.041 |
|
PROVISION FOR CONTINGENCIES |
18.659 |
18.107 |
11.912 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
123.575 |
209.376 |
260.953 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
233.423 |
233.423 |
233.423 |
|
PROFIT RESERVES |
186.204 |
200.574 |
208.804 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
419.627 |
433.997 |
442.227 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
858.678 |
912.776 |
878.120 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
GROSS SALES |
1.180.263 |
1.055.321 |
986.405 |
|
(-) TAXES ON SALES |
327.828 |
296.634 |
276.177 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
852.435 |
758.687 |
710.228 |
|
(-) COST OF SOLD GOODS |
779.573 |
687.734 |
713.668 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
72.862 |
70.953 |
-3.440 |
|
OPERATING REVENUE (EXPENSE) |
-66.812 |
-40.861 |
-26.316 |
|
FINANCIAL REVENUE(EXPENSE) |
-25.483 |
-41.672 |
-50.244 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
-19.433 |
-11.580 |
-80.000 |
|
CONTRIBUTION/INCOME TAX |
6.191 |
3.350 |
26.724 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
-13.242 |
-8.230 |
-53.276 |
|
RATIOS: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
QUICK RATIO |
,41 |
|
,68 |
|
,91 |
|
|
CURRENT RATIO |
,63 |
|
,90 |
|
1,20 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
8,19 |
TIMES |
4,94 |
TIMES |
8,56 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
43,95 |
DAYS |
72,85 |
DAYS |
42,04 |
DAYS |
|
INVENTORY TURNOVER |
11,66 |
TIMES |
11,69 |
TIMES |
13,99 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
48,73 |
DAYS |
50,32 |
DAYS |
45,55 |
DAYS |
|
RETURN ON ASSETS |
,99 |
TIMES |
,83 |
TIMES |
,81 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
2,03 |
TIMES |
1,75 |
TIMES |
1,61 |
TIMES |
|
NET WORTH TIE-UP |
1,39 |
|
1,37 |
|
1,34 |
|
|
INDEBTEDNESS |
1,05 |
|
1,10 |
|
,99 |
|
|
EQUITY RATIO |
48,87 |
% |
47,55 |
% |
50,36 |
% |
|
WORKING CAPITAL RATIO |
-37,43 |
% |
-10,13 |
% |
20,04 |
% |
|
GENERAL SOLVENCY |
1,96 |
|
1,91 |
|
2,01 |
|
|
RETURN ON NET EQUITY |
-3,16 |
% |
-1,90 |
% |
-12,05 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
-1,55 |
% |
-1,08 |
% |
-7,50 |
% |
|
GROSS PROFIT MARGIN |
8,55 |
% |
9,35 |
% |
-,48 |
% |
|
OPERATIONAL RESULT |
-2,28 |
% |
-1,53 |
% |
-11,26 |
% |
|
SALES TURNOVER ON LIABILITIES |
2,70 |
TIMES |
2,82 |
TIMES |
4,06 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 1,83 |
- OFFICIAL RATE ON 12/08/2009 |
|
US$ 1,00 = R$ 2,33 |
- OFFICIAL RATE ON 31/12/2008 |
|
US$ 1,00 = R$ 1,77 |
- OFFICIAL RATE ON 31/12/2007 |
|
US$ 1,00 = R$ 2,13 |
- OFFICIAL RATE ON 31/12/2006 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FINANCIAL DATA SHOWS A DELICATE FINANCIAL STANDING. THE COMPANY
SHOWS LOW CURRENT RATIO AND SOMEHOW HIGH LEVEL OF INDEBTEDNESS. DESPITE THE
GROWING SALES ITS HIGH COSTS AND EXPENSES DROVE THE COMPANY TO MAKE NEGATIVE
RESULT AGAIN. IT IS WORTH COMMENTING THAT SUBJECT BELONG TO A GROUP WHICH HAS HIGH
FINANCIAL STRENGTH AND MAY GIVE THE SUBJECT THE NECESSARY SUPPORT TO KEEP ON
OPERATING WITH NO FINANCIAL PROBLEMS. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 123.264.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 23.541.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 1.103.585.000,00
|
THE SUBJECT IS SAID TO HOLD INSURANCE POLICIES BUT DETAILS WERE NOT
DISCLOSED. |
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO ITAUBANK S/A |
11 3708-8265 |
SÃO PAULO/SP |
|
BANCO BRADESCO S/A |
11 3095-9687 |
SÃO PAULO/SP |
|
BANCO ITAU S/A |
11 3882-5865 |
SÃO PAULO/SP |
|
REMARKS: 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"). |
|
THE FIRM ENGAGES IN THE MANUFACTURE AND DISTRIBUTION OF CHEMICALS AND
PETROCHEMICALS. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
MERCOSUR |
EXPORTS TO:
|
ARGENTINA, UNITED STATES, JAPAN AND EUROPE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
CITY: |
PHONE: |
|
AMANCO S/A |
JOINVILLE/SC |
47 3461-7000 |
|
KARINA IND E COM DE PLÁSTICOS LTDA |
GUARULHOS/SP |
11 3466-8000 |
|
TIGRE S/A TUBOS E CONEXÕES |
JOINVILLE/SC |
47 441-5000 |
|
STAFF: |
|
|
|
THE COMPANY HAS: 300 EMPLOYEE(S) |
|
THE SUBJECT IS AN OLD AND WELL-ESTABLISHED COMPANY IN BUSINESS SINCE 1941.
IT IS A SUBSIDIARY OF AN IMPORTANT INDUSTRIAL GROUP. THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED. THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE
RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID.
NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUITS DO NOT AFFECT THE COMPANY’S
TRADE REPUTATION. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
CITY: |
PHONE: |
|
CARBOCLORO S/A INDÚSTRIAS QUIMICAS |
CUBATÃO/SP |
13 3362-8000 |
|
PETROQUÍMICA UNIÃO S/A |
SANTO ANDRÉ/SP |
11 4478-1655 |
|
SALINOR - SALINAS DO NORDESTE S/A |
SANTOS/SP |
13 3232-5264 |
|
QUATTOR QUIMICOS BASICOS S/A |
|
11 4478-1655 |
|
PAYMENT HISTORY: |
|
12 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 451.915,00 |
|
|
|
AMOUNT OF INVOICES PAID: 108 |
|
TOTAL OF PROMPT PAYMENTS: 99,6% |
|
TOTAL OF DELAYED PAYMENTS: 0,4% |
|
|
|
HIGHEST INVOICE: R$ 214.972,00 |
|
HIGHEST CREDIT: R$ 214.972,00 |
|
|
|
OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
4 |
19 |
R$ 30.778,00 |
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL
YEARS. UP TO DATE IT HAS A CLEAR TRADE HISTORY AND SATISFACTORY PAYMENT
BEHAVIOR. BASED ON THE OVERALL 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
SIZE AND FINANCIAL STRENGTH. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.34 |
|
UK Pound |
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.37 |
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.