|
Report Date : |
23.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
NANOMETRICS INCORPORATED |
|
|
Registered Office : |
|
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
|
|
Date of Incorporation : |
02.01.1975 |
|
|
|
|
|
|
Legal Form : |
Public Company (Nasdaq = NANO) |
|
|
|
|
|
|
Line of Business : |
Provides high-performance process control metrology systems used primarily in the fabrication of integrated circuits, high-brightness LEDs, data storage devices, and solar photovoltaics. |
|
|
|
|
|
|
No. of Employees : |
552 |
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED STATES - ECONOMIC OVERVIEW
The
Source : CIA
Company name: NANOMETRICS INCORPORATED
Address: 1550 Buckeye Drive, Milpitas, CA 95035 - USA
Telephone: +1
408-545-6000
Fax: +1 408-232-5910
Website: www.nanometrics.com
Corporate ID#: 3913131
State: Delaware
Judicial form: Public Company (Nasdaq = NANO)
Date incorporated: 01-18-2005
Date founded: 01-02-1975
Stock: As of August 6,
2012 there were 23,285,136 shares of common stock
Value: USD
0.001= par value
Name of manager: Timothy
J. STULTZ
History:
A former NANOMETRICS
INCORPORATED was incorporated in California on January
2, 1975 under ID# C0728807
and merged into the Delaware Company on January 18, 2005.
Business:
Nanometrics Incorporated provides high-performance process control
metrology systems used primarily in the fabrication of integrated circuits,
high-brightness LEDs, data storage devices, and solar photovoltaics.
It offers automated metrology systems that provide optical critical
dimension, thin film metrology, and wafer stress for transistor and
interconnect metrology applications; the Lynx cluster metrology platform for
use in wafer metrology applications, including optical critical dimension,
overlay, and thin film process control; and integrated metrology systems, which
provide near real-time measurements.
The company's automated and integrated systems are also used in various
process control applications, including dimension and film thickness
measurement, device topography, and defect inspection, as well as used in the
analysis of other film properties, such as optical, electrical, and material
characteristics. Its process control solutions are deployed in the fabrication
process from front-end-of-line substrate manufacturing to high-volume
production of semiconductors and other devices, and to wafer-scale packaging
applications.
The company sells its metrology and inspection systems directly and
through original equipment manufacturer channels to semiconductor manufacturers
and equipment suppliers, and producers of high-brightness-LEDs, solar
photovoltaics, data storage devices, silicon wafers, and photomasks worldwide.
Nanometrics Incorporated was founded in 1975 and is headquartered in Milpitas,
California.
The Company imports from Asia and exports to Central and South America.
EIN: 94-2276314
Staff: 552
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, owned.
The Company maintains
branches located:
1320 SE Armour Road
Suite B-2
Bend, OR 97702
2925 NW Aloclek Drive
Suite 110
Hillsboro, OR 97124
Shareholders:
The Company is listed with
the Nasdaq under symbol NANO.
As of 06-29-2012, 77% of
the stock was held by institutional and mutual funds owners, including:
|
WELLINGTON
MANAGEMENT COMPANY, LLP |
9.50% |
|
WADDELL
& REED FINANCIAL INC. |
7.78% |
|
ROYCE
& ASSOCIATES, LLC |
6.25% |
|
VANGUARD
GROUP, INC. (THE) |
5.19% |
|
BLACKROCK
FUND ADVISORS |
3.85% |
Management:
Timothy J. SCHULTZ is the President and CEO
Dr. Timothy J. Stultz, Tim, Ph.D has been the Chief Executive Officer
and President of Nanometrics Inc. since August 2007. Dr. Stultz served as
President and Chief Executive Officer at Imago Scientific Instruments
Corporation from June 2003 to August 2007. Dr. Stultz has over 20 years of
executive management and strategic development experience in high technology
and capital equipment manufacturing. He served as Vice President and General
Manager of Veeco Instruments Metrology Group. Dr. Stultz was instrumental in
bringing to market the world's first fully automated Atomic Force Microscope,
an analytical tool of similar sophistication and areas of application as
Imago's LEAP microscope. Prior to Veeco, He founded Peak Systems, Inc. and
served as its President. He served as President and Chief Executive Officer of
ThauMDx, LLC, Among his many accomplishments, Dr. Stultz. has extensive
experience in raising capital, both private and public, as well as success in
several mergers and acquisitions. He served as Chairman of Imago Scientific
Instruments Corporation. He has been a Director of Nanometrics Inc. since
August 2007. He has been a Director of Tessera Technologies Inc., since August
29, 2012. He served as a Director at GWC Technologies since October 2006.
He served as a Director of Imago Scientific Instruments Corporation from
June 2003 to August 2007. Dr. Stultz earned his B.S., M.S., and Ph.D. in
materials science and engineering from Stanford University.
Ronald W. KISLING is the CFO
Mr. Ronald W. Kisling, Ron has been the Chief Financial Officer and
Principal Accounting Officer of Nanometrics Incorporated since March 14, 2010.
Mr. Kisling has over 25 years of finance experience. He served as Chief Financial
Officer at PGP Corporation from May 2010 to September 2010.
He was responsible for the financial planning, accounting, tax and
capital markets/corporate finance functions for PGP Corp. He served as Managing
Director of TC TrustCenter GmbH. Mr. Kisling served as Vice President of
Finance of PGP Corporation from December 2006 to May 2010 and served as its
Controller. He served as Chief Financial Officer and Controller of SPL
WorldGroup, Inc. from August 1998 to June 2001 and also served as its Vice
President from 1998 to 1999. From August 1998 to June 2001, Mr. Kisling served
in various positions at SPL Worldgroup, Inc. He spent from 1989 to 1998 at
Symantec Corporation, and served as Vice President and Controller.
He served as Chief Financial Officer of Symantec Corporation from April
1989 to August 1998. He served as Chief Financial Officer of Portal Software
Inc. (acquired by Oracle in 2006) from November 2004 to June 2005 and served as
its Vice President since March 2004. Mr. Kisling served as Senior Vice
President of Finance for Portal Software Inc. from March 2004 to 2006.
From May 2002 to March 2004, he served as Chief Financial Officer of
Saba Software Inc. from May 2002 to 2004, and from June 2001 to May 2002, he
served as its Vice President of Finance and IT. He began his finance career at
Coopers & Lybrand, LLP in San Jose.
He is an inactive Certified Public Accountant in the state of
California.
Mr. Kisling holds a B.A. in Economics from Stanford University in 1982.
Bruce CRAWFORD is the COO.
Mr. Bruce A. Crawford has been the Chief Operating Officer of
Nanometrics Inc. since July 4, 2006.
Mr. Crawford has been Secretary of Accent Optical Technologies Inc.
since January 2003 and its Senior Vice President of Global Operations since September
2001.
He served as Interim Chief Financial Officer of Nanometrics Inc. from
September 2008 to February 2009. He served as President and Chief Operating
Officer of Accent Optical Technologies Inc. from July 2005 to July 2006.
He served as the Chief Operating Officer and Executive Vice President of
Accent Optical from February 2003 to July 2005 and Vice President of Worldwide
Operations from October 2000 to February 2003. He also served as Vice President
of Operations at Accent Optical Technologies, Inc. from October 2000 to
September 2001. From November 1994 to April 1996, he served as the Director of
Customer Service and Vice President of Manufacturing at Asyst Technologies.
From May 1997 to October 1999, Mr. Crawford served as Vice President of Operations
at Obsidian, Inc. From May 1996 to April 1997, he served as an Operations
Consultant at Tylan General. He served as Senior Director of Materials-CMP
Division at Applied Materials Inc. from October 1999 to October 2000. He has
been the Chairman of Omnicom Group Inc. since 1995 and its Director since 1989.
He serves as Chairmen Emeritus at Lincoln Center for the Performing Arts, Inc.
He served as Chairman of Lincoln Center in New York City. He serves as a
Director of Venetian Heritage and The Animal Medical Center. He serves as
Director Emeritus at Lincoln Center for the Performing
Arts Inc.
Mr. Crawford holds an AS degree from De Anza College and studied finance
at San Jose State University.
Subsidiaries
And partnership:
|
Name |
|
Jurisdiction |
|
|
|
|
|
Accent Optical Technologies France |
|
France |
|
|
|
|
|
Accent Optical Technologies (Germany) GmbH |
|
Germany |
|
|
|
|
|
Nanometrics (Switzerland) GmbH |
|
Switzerland |
|
|
|
|
|
Nanometrics U.K. Ltd. |
|
United Kingdom |
|
|
|
|
|
Nanometrics China Company Ltd. |
|
China |
|
|
|
|
|
Nanometrics Israel, Ltd. |
|
Israel |
|
|
|
|
|
Nanometrics Japan K.K. |
|
Japan |
|
|
|
|
|
Nanometrics Korea Limited |
|
South Korea |
|
|
|
|
|
Nanometrics Southeast Asia Pte. Limited |
|
Singapore |
|
|
|
|
|
Nanda Technologies GmbH |
|
Germany |
On attachment
- 10K 2011
On July 26, 2012, Nanometrics Incorporated announced unaudited consolidated
earning results for the second quarter and six months ended June 30, 2012.
For the quarter, the company reported total net revenues of $53,181,000
against $64,372,000 a year ago. Income from operations was $4,296,000 against
$17,485,000 a year ago.
Income before income taxes was $4,016,000 against $16,739,000 a year
ago. Net income was $4,506,000 or $0.19 per diluted share against $11,087,000
or $0.47 per dilute share a year ago. Non-GAAP operating income was $5,128,000
against $17,886,000 a year ago. Non-GAAP net income was $3,079,000 or $0.13 per
diluted share against $11,344,000 or $0.48 per diluted share a year ago.
For six months, the company reported total net revenues of $108,673,000
against $126,515,000 a year ago. Income from operations was $8,402,000 against
$34,548,000 a year ago. Income before income taxes was $7,730,000 against
$32,992,000 a year ago. Net income was $6,209,000 or $0.26 per diluted share
against $21,597,000 or $0.92 per dilute share a year ago.
Net cash provided by operating activities was $1,951,000 against
$25,665,000 a year ago. Purchases of property, plant and equipment was
$2,730,000 against $1,746,000 a year ago. Non-GAAP operating income was
$10,063,000 against $35,355,000 a year ago. Non-GAAP net income was $5,963,000
or $0.25 per diluted share against $22,113,000 or $0.94 per diluted share a
year ago.
For the third quarter of 2012, the management expected total revenues to
be in the range of $40 to $45 million. GAAP gross margin in the range of 44% to
48%, non-gaap gross margin in the range of 46% to 49%, and operating expenses
to
increase between $0.4 million and $0.7 million from the second
quarter. Management expects gaap net
earnings in the range of ($0.09) to $0.00 per share and non-gaap net earnings
in the range of ($0.07) to $0.02 per share. The company expects effective tax
rate in the second half 2012 to be in the mid 30s.
Banks: Comerica Bank
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
File number: 12-7325390375
Date filed: 08-16-2012
Lapse date: 08-16-2017
Secured Party: Xerox
Financial Services
45
Glover Avenue, Norwalk, CT 06856
File number: 08-716321788
Date filed: 06-27-2008
Lapse date: 06-27-2012
Secured Party: Macquarie
Equipment Finance, LLC
2885
Franklin Road, Bloomfield Hills, MI 48302
Standard & Poor’s
|
United
States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks,
Rising Debt Burden; Outlook Negative |
|
Publication
date: 05-Aug-2011 20:13:14 EST |
·
We have lowered our long-term sovereign
credit rating on the United States of America to 'AA+' from 'AAA' and affirmed
the 'A-1+' short-term rating.
·
We have also removed both the short- and long-term ratings
from CreditWatch negative.
·
The downgrade reflects our
opinion that the fiscal consolidation plan that Congress and the Administration
recently agreed to falls short of what, in our view, would be necessary to
stabilize the government's medium-term debt dynamics.
·
More broadly, the downgrade
reflects our view that the effectiveness, stability, and predictability of
American policymaking and political institutions have weakened at a time of
ongoing fiscal and economic challenges to a degree more than we envisioned when
we assigned a negative outlook to the rating on April 18, 2011.
·
Since then, we have changed our
view of the difficulties in bridging the gulf between the political parties
over fiscal policy, which makes us pessimistic about the capacity of Congress
and the Administration to be able to leverage their agreement this week into a
broader fiscal consolidation plan that stabilizes the government's debt
dynamics any time soon.
·
The outlook on the long-term
rating is negative. We could lower the long-term rating to 'AA' within the next
two years if we see that less reduction in spending than agreed to, higher
interest rates, or new fiscal pressures during the period result in a higher
general government debt trajectory than we currently assume in our base case.
TORONTO (Standard &
Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it
lowered its long-term sovereign credit rating on the United States of America
to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the
long-term rating is negative. At the same time, Standard & Poor's affirmed
its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's
removed both ratings from CreditWatch, where they were placed on July 14, 2011,
with negative implications.
The transfer and
convertibility (T&C) assessment of the U.S.--our assessment of the
likelihood of official interference in the ability of U.S.-based public- and
private-sector issuers to secure foreign exchange for
debt service--remains
'AAA'.
We lowered our long-term rating
on the U.S. because we believe that the prolonged controversy over raising the
statutory debt ceiling and the related fiscal policy debate indicate that
further near-term progress containing the growth in public spending, especially
on entitlements, or on reaching an agreement on raising revenues is less likely
than we previously assumed and will remain a contentious and fitful process. We
also believe that the fiscal consolidation plan that Congress and the
Administration agreed to this week falls short of the amount that we believe is
necessary to stabilize the general government debt burden by the middle of the
decade.
Our lowering of the
rating was prompted by our view on the rising public debt burden and our
perception of greater policymaking uncertainty, consistent with our criteria
(see "Sovereign Government Rating Methodology and
Assumptions ," June 30, 2011, especially Paragraphs 36-41).
Nevertheless, we view the U.S. federal government's other economic, external,
and monetary credit attributes, which form the basis for the sovereign rating,
as broadly unchanged.
We have taken the ratings
off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment
of 2011 has removed any perceived immediate threat of payment default posed by
delays to raising the government's debt ceiling. In addition, we believe that
the act provides sufficient clarity to allow us to evaluate the likely course
of U.S. fiscal policy for the next few years.
The political
brinksmanship of recent months highlights what we see as America's governance
and policymaking becoming less stable, less effective, and less predictable
than what we previously believed. The statutory debt ceiling and the threat of
default have become political bargaining chips in the debate over fiscal
policy. Despite this year's wide-ranging debate, in our view, the differences
between political parties have proven to be extraordinarily difficult to
bridge, and, as we see it, the resulting agreement fell well short of the
comprehensive fiscal consolidation program that some proponents had envisaged
until quite recently. Republicans and Democrats have only been able to agree to
relatively modest savings on discretionary spending while delegating to the
Select Committee decisions on more comprehensive measures. It appears that for
now, new revenues have dropped down on the menu of policy options. In addition,
the plan envisions only minor policy changes on Medicare and little change in
other entitlements,
the containment of which
we and most other independent observers regard as key to long-term fiscal
sustainability.
Our opinion is that
elected officials remain wary of tackling the structural issues required to
effectively address the rising U.S. public debt burden in a manner consistent
with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and
Assumptions," June 30, 2011, especially Paragraphs 36-41). In
our view, the difficulty in framing a consensus on fiscal policy weakens the
government's ability to manage public finances and diverts attention from the
debate over how to achieve more balanced and dynamic economic growth in an era
of fiscal stringency and private-sector deleveraging (ibid). A new political
consensus might (or might not) emerge after the 2012 elections, but we believe
that by then, the government debt burden will likely be higher, the needed
medium-term fiscal adjustment potentially greater, and the inflection point on
the U.S. population's demographics and other age-related spending drivers
closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely
Cost Even More Green, Now," June 21, 2011).
Standard & Poor's
takes no position on the mix of spending and revenue measures that Congress and
the Administration might conclude is appropriate for putting the U.S.'s
finances on a sustainable footing.
The act calls for as much
as $2.4 trillion of reductions in expenditure growth over the 10 years through
2021. These cuts will be implemented in two steps: the $917 billion agreed to
initially, followed by an additional $1.5 trillion that the newly formed
Congressional Joint Select Committee on Deficit Reduction is supposed to
recommend by November 2011. The act contains no measures to raise taxes or otherwise
enhance revenues, though the committee could recommend them.
The act further provides
that if Congress does not enact the committee's recommendations, cuts of $1.2
trillion will be implemented over the same time period. The reductions would mainly
affect outlays for civilian discretionary spending, defense, and Medicare. We
understand that this fall-back mechanism is designed to encourage Congress to
embrace a more balanced mix of expenditure savings, as the committee might
recommend.
We note that in a letter
to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated
total budgetary savings under the act to be at least $2.1 trillion over the
next 10 years relative to its baseline assumptions. In updating our own fiscal
projections, with certain modifications outlined below, we have relied on the
CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to
include the CBO assumptions contained in its Aug. 1 letter to Congress. In
general, the CBO's "Alternate Fiscal Scenario" assumes a continuation
of recent Congressional action overriding existing law.
We view the act's
measures as a step toward fiscal consolidation. However, this is within the
framework of a legislative mechanism that leaves open the details of what is finally
agreed to until the end of 2011, and Congress and the Administration could
modify any agreement in the future. Even assuming that at least $2.1 trillion
of the spending reductions the act envisages are implemented, we maintain our
view that the U.S. net general government debt burden (all levels of government
combined, excluding liquid financial assets) will likely continue to grow.
Under our revised base case fiscal scenario--which we consider to be consistent
with a 'AA+' long-term rating and a negative outlook--we now project that net
general government debt would rise from an estimated 74% of GDP by the end of
2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of sovereign
indebtedness is high in relation to those of peer credits and, as noted, would
continue to rise under the act's revised policy settings.
Compared with previous
projections, our revised base case scenario now assumes that the 2001 and 2003
tax cuts, due to expire by the end of 2012, remain in place. We have changed
our assumption on this because the majority of Republicans in Congress continue
to resist any measure that would raise revenues, a position we believe Congress
reinforced by passing the act. Key macroeconomic assumptions in the base case
scenario include trend real GDP growth of 3% and consumer price inflation near
2% annually over the decade.
Our revised upside
scenario--which, other things being equal, we view as consistent with the
outlook on the 'AA+' long-term rating being revised to stable--retains these
same macroeconomic assumptions. In addition, it incorporates $950 billion of
new revenues on the assumption that the 2001 and 2003 tax cuts for high earners
lapse from 2013 onwards, as the Administration is advocating. In this scenario,
we project that the net general government debt would rise from an estimated
74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
Our revised downside
scenario--which, other things being equal, we view as being consistent with a
possible further downgrade to a 'AA' long-term rating--features less-favorable
macroeconomic assumptions, as outlined below and also assumes that the second
round of spending cuts (at least $1.2 trillion) that the act calls for does not
occur. This scenario also assumes somewhat higher nominal interest rates for
U.S. Treasuries. We still believe that the role of the U.S. dollar as the key
reserve currency confers a government funding advantage, one that could change
only slowly over time, and that Fed policy might lean toward continued loose
monetary policy at a time of fiscal tightening. Nonetheless, it is possible
that interest rates could rise if investors re-price relative risks. As a
result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in
10-year bond yields relative to the base and upside cases from 2013 onwards. In
this scenario, we project the net public debt burden would rise from 74% of GDP
in 2011 to 90% in 2015 and to 101% by 2021.
Our revised scenarios
also take into account the significant negative revisions to historical GDP
data that the Bureau of Economic Analysis announced on July 29. From our
perspective, the effect of these revisions underscores two related points when
evaluating the likely debt trajectory of the U.S. government. First, the revisions
show that the recent recession was deeper than previously assumed, so the GDP
this year is lower than previously thought in both nominal and real terms.
Consequently, the debt burden is slightly higher. Second, the revised data
highlight the sub-par path of the current economic recovery when compared with
rebounds following previous post-war recessions. We believe the sluggish pace
of the current economic recovery could be consistent with the experiences of
countries that have had financial crises in which the slow process of debt
deleveraging in the private sector leads to a persistent drag on demand. As a
result, our downside case scenario assumes relatively modest real trend GDP
growth of 2.5% and inflation of near 1.5% annually going forward.
When comparing the U.S.
to sovereigns with 'AAA' long-term ratings that we view as relevant
peers--Canada, France, Germany, and the U.K.--we also observe, based on our
base case scenarios for each, that the trajectory of the U.S.'s net public debt
is diverging from the others. Including the U.S., we estimate that these five
sovereigns will have net general government debt to GDP ratios this year
ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%.
By 2015, we project that their net public debt to GDP ratios will range between
30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at
79%. However, in contrast with the U.S., we project that the net public debt
burdens of these other sovereigns will begin to decline, either before or by
2015.
Standard & Poor's
transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment
reflects our view of the likelihood of the sovereign restricting other public
and private issuers' access to foreign exchange needed to meet debt service.
Although in our view the credit standing of the U.S. government has
deteriorated modestly, we see little indication that official interference of
this kind is entering onto the policy agenda of either Congress or the
Administration. Consequently, we continue to view this risk as being highly
remote.
The outlook on the
long-term rating is negative. As our downside alternate fiscal scenario
illustrates, a higher public debt trajectory than we currently assume could
lead us to lower the long-term rating again. On the other hand, as our upside
scenario highlights, if the recommendations of the Congressional Joint Select
Committee on Deficit Reduction--independently or coupled with other
initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high
earners--lead to fiscal consolidation measures beyond the minimum mandated, and
we believe they are likely to slow the deterioration of the government's debt
dynamics, the long-term rating could stabilize at 'AA+'.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.67 |
|
|
1 |
Rs.86.05 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.