MIRA INFORM REPORT

 

 

Report Date :

28.08.2013

 

IDENTIFICATION DETAILS

 

Name :

C. C. JENSEN AS

 

 

Registered Office :

Lovholmen 13 5700 Svendborg

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

04.07.1972

 

 

Com. Reg. No.:

34044511

 

 

Legal Form :

Limited Company - A/S

 

 

Line of Business :

Manufacture of other general-purpose machinery

 

 

No. of Employees :

244

 

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 :

Satisfactory

Payment Behaviour :

No Complaints

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Denmark

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

DENMARK - ECONOMIC OVERVIEW

 

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy a high standard of living and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, has since continued to decline. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crisis cut Danish real GDP in 2008-09. Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-12, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. In spite of the deficits, the new coalition government delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU with public debt at about 45% of GDP in 2012. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro.

Source : CIA

Summary

 

Company name                                          C. C. JENSEN A/S

Operative address                                       LOVHOLMEN 13
5700 SVENDBORG
Denmark

Status                                                          Active

 

Legal form                                                  Limited company - A/S

Registration number                                   Trade register number: 34044511
Trade register number: 34044511

VAT-number                                                DK34 04 45 11

 

Year                                                             2012               Mutation     2011               Mutation     2010

Fixed assets                                                 15.049.789       21,97         12.339.137       11,14        11.102.063

Total receivables                                           6.714.018         -11,27        7.566.619         9,88          6.886.051

 

Total equity                                                   14.837.109       13,04         13.125.230       27,22        10.316.883

Short term liabilities                                       10.482.392       24,14         8.444.047         -6,95         9.075.147

 

Net result                                                     2.407.248         -18,23        2.943.815         431,66       553.704

 

Working capital                                             7.886.169         -7,02         8.481.979         31,90        6.430.694

Quick ratio                                                    1,05                 -21,05        1,33                 27,88        1,04

 

Contact information

 

Company name                                          C. C. JENSEN A/S

Operative address                                       LOVHOLMEN 13
5700 SVENDBORG
Denmark

Correspondence address                            LOVHOLMEN 13
5700 SVENDBORG
Denmark

 

Telephone number                                     +45 63212014

Fax number                                                +45 62224615

Email address                                             ccjensen@cjc.dk

Website                                                       www.cjc.dk

 

Registration

 

Registration number                                   Trade register number: 34044511
Trade register number: 34044511

VAT-number                                                DK34 04 45 11

Status                                                          Active

Establishment date                                     1972-07-04

 

Legal form                                                  Limited company - A/S

Subscribed share capital                            DKK 16.000.000

 

Activities

 

NACE                                                           Manufacture of other general-purpose machinery n.e.c. (2829)

 

Relations

 

Shareholders                                              ULTIMATE GLOBAL SHAREHOLDER
Name: C.C. JENSEN HOLDING A/S
National id number: 21224138
Address: Løvholmen 13
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 63212014
FAX: +45 62224615
Website: www.cjc.dk
Type: Financial company
Share direct: 100.00%
Share TOTAL: 100.00%
Turnover: 56.27 mil. EUR
TOTAL assets: 44.53 mil. EUR
Profit loss before tax: 4.17487 mil. EUR
Profit loss after tax net income: 3.17718 mil. EUR
Shareholders funds: 19.93179 mil. EUR

SHAREHOLDERS
Name: C.C. JENSEN HOLDING A/S
National id number: 21224138
Address: Løvholmen 13
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 63212014
FAX: +45 62224615
Website: www.cjc.dk
Type: Financial company
Share direct: 100.00%
Turnover: 56.27 mil. EUR
TOTAL assets: 44.53 mil. EUR
Profit loss before tax: 4.17487 mil. EUR
Profit loss after tax net income: 3.17718 mil. EUR
Shareholders funds: 19.93179 mil. EUR
Number of employees: 244

 

Structure                                                     SUBSIDIARIES
Name: C C JENSEN IBERICA SL
National id number: B62400353
Address: CL JOAN BUSCALLA (POL. IND. CAN MAGI), 6
Zipcode: 08173
City: SANT CUGAT DEL VALLES
Country: ES
Type: Industrial company
Phone: +34 93 5906331
Fax: +34 93 5906332
Website: www.cjc.dk
Share direct: 100.00%
Turnover: 4.26 mil. EUR
Total assets: 1.94 mil. EUR
Profit loss before tax: 0.23842 mil. EUR
Profit loss after tax net income: 0.1669 mil. EUR
Shareholders funds: 1.07732 mil. EUR
Number of employees: 10

Name: C. C. JENSEN LIMITED
National id number: 02504210
Address: Unit 26
Zipcode: DL16 6JF
City: SPENNYMOOR
Country: GB
Type: Industrial company
Phone: +44 1388420721
Website: www.cjc.dk
Share direct: 100.00%
Total assets: 1.32 mil. EUR
Shareholders funds: 0.4826 mil. EUR

Name: C.C. JENSEN BENELUX B.V.
National id number: 24436922
Address: Marconistraat 7
Zipcode: 2809 PH
City: GOUDA
Country: NL
Type: Industrial company
Phone: +31 182 379029
Website: www.ccjensen.nl
Share direct: 100.00%
Total assets: 0.92 mil. EUR
Shareholders funds: 0.34874 mil. EUR
Number of employees: 7

Name: C.C. JENSEN FILTRATION EQUIPMENT
Country: CN
Type: Industrial company
Share direct: 100.00%

Name: C.C. JENSEN MIDDEL EAST DMCC
Country: AE
Type: Industrial company
Share direct: 100.00%

Name: CC JENSEN INC
Country: US
Type: Industrial company
Share direct: 100.00%

Name: C.C. JENSEN S.L. LTDA
Address: Manuel Rodriguez 27
City: SANTIAGO
Country: CL
Type: Industrial company
Share direct: 90.00%

Name: C.C. JENSEN (GREECE) LTD
National id number: 999654573
Address: 21 Eponiton
Zipcode: 18547
City: PIRAEUS
Country: GR
Type: Industrial company
Phone: +30 2104281260
Fax: +30 2104281250
Website: www.cjc.dk
Share direct: 51.00%
Turnover: 0.74 mil. EUR
Total assets: 0.34 mil. EUR
Profit loss before tax: -0.06606 mil. EUR
Profit loss after tax net income: -0.06636 mil. EUR
Shareholders funds: 0.09702 mil. EUR
Number of employees: 4

Name: CC JENSEN POLSKA SP. Z O.O.
National id number: 9512019208
Address: Ludwinowska 17
Zipcode: 02-856
City: WARSZAWA
Country: PL
Type: Industrial company
Phone: +48 22 4896598
Fax: +48 22 4896598
Website: www.ccjensen.com.pl
Share direct: 50.00%
Turnover: 1.05 mil. EUR
Total assets: 0.59 mil. EUR
Profit loss before tax: 0.11705 mil. EUR
Profit loss after tax net income: 0.09276 mil. EUR
Shareholders funds: 0.25751 mil. EUR

Name: KARBERG & HENNEMANN GMBH & CO. KG
National id number: HRA 51756 (Hamburg)
Address: Marlowring 5
Zipcode: 22525
City: HAMBURG
Country: DE
Type: Industrial company
Phone: +49 40 85504790
Fax: +49 40 855047910
Website: www.cjc.de
Share direct: 50.00%
Turnover: 7.63 mil. EUR
Total assets: 3.17 mil. EUR
Shareholders funds: 0.51756 mil. EUR
Number of employees: 25

Name: KARBERG & HENNEMANN VERWALTUNGS GMBH
National id number: HRB 85574 (Hamburg)
Address: Marlowring 5
Zipcode: 22525
City: HAMBURG
Country: DE
Type: Industrial company
Phone: +49 40 8531090
Fax: +49 40 855047920
Website: www.cjc.de
Share direct: 50.00%
Total assets: 0.06 mil. EUR
Shareholders funds: 0.02916 mil. EUR
Number of employees: 1

Name: KARBERG UND HENNEMANN GMBH
Country: DE
Type: Industrial company
Share direct: 50.00%

Name: HRTOOLS A/S
National id number: 31281474
Address: Th Nielsens Gade 75
Zipcode: 7400
City: HERNING
Country: DK
Type: Industrial company
Phone: +45 70701312
Website: www.hrtools.dk
Share direct: 28.00%
Total assets: 0.25 mil. EUR
Profit loss before tax: -0.01184 mil. EUR
Profit loss after tax net income: -0.00884 mil. EUR
Shareholders funds: 0.03764 mil. EUR

 

 

Branches                                                     Name: C C JENSEN A/S
National id number: 34044511-D63
Address: Søndergade 7
Zipcode: 5884
City: GUDME
Country: DK
Phone: +45 63250048
FAX: +45 62224615
Website: www.cjc.dk

Name: C C JENSEN A/S
National id number: 34044511-DD7
Address: Abildvej 10
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 62212270
Website: www.cjc.dk

Name: C C JENSEN A/S
National id number: 34044511-E49
Address: Rødeledsvej 60
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 63212014
FAX: +45 62224615
Website: www.cjc.dk

Name: C C JENSEN A/S FORSENDELSE
National id number: 34044511-1178
Address: Englandsvej 1
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 63212014
FAX: +45 62224615

Name: C C JENSEN A/S MARKETING
National id number: 34044511-DCD
Address: Græsholmevej 45
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 63212014
FAX: +45 62224615

Name: C C JENSEN A/S PROJEKTAFDELINGEN
National id number: 34044511-F6D
Address: Løvholmen 18
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 63212014
FAX: +45 62224615
Website: www.cjc.dk

Name: C.C. JENSEN A/S
National id number: 34044511-E4E
Address: Langgade 36
Zipcode: 5874
City: HESSELAGER
Country: DK

Name: C.C. JENSEN A/S FILTERSALG
National id number: 34044511-C31
Address: Tværvej 25
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 63212014
FAX: +45 62224615

Name: C.C. JENSEN A/S TEKNISK AFDELING
National id number: 34044511-F85
Address: Løvholmen 9
Zipcode: 5700
City: SVENDBORG
Country: DK
Phone: +45 63212014
FAX: +45 62224615
Website: www.cjc.dk

Name: C.C.JENSEN A/S EKSPORT
National id number: 34044511-E48
Address: Rødeledsvej 60
Zipcode: 5700
City: SVENDBORG
Country: DK

 

Bank details

 

Accounts                                                     Danske Bank
Sydbank

 

Management

 

Management                                               Fullname: Mr PETER Voigt Borch
Type: Individual
Gender: Male
date of birth: 1942/07/23
Age: 71
Country of nationality: Denmark
Address: Denmark
Number of involvements: 3
Function: Chairman
Level of responsibility: President / Chairman

Fullname: Mr Per Munch Glente
Type: Individual
Gender: Male
Address: Denmark
Number of involvements: 2
Function: Deputy chairman
Level of responsibility: Vice President / Vice Chairman
Appointment date: 1998/01/06

Fullname: Mr Allan Erik Hansen
Type: Individual
Gender: Male
Address: Denmark
Number of involvements: 1
Function: Elected by employees
Level of responsibility: Member
Appointment date: 2010/05/11

Fullname: Mr Jorgen Richard Hansen
Type: Individual
Gender: Male
Address: Denmark
Number of involvements: 1
Function: Elected by employees
Level of responsibility: Member
Appointment date: 2010/05/11

Fullname: Mr Carl A. Jensen
Type: Individual
Gender: Male
date of birth: 1943/03/03
Age: 70
Country of nationality: Denmark
Address: Denmark
Number of involvements: 5
Function: Member of the board
Level of responsibility: Member

Fullname: Mr Carl A. Jensen
Type: Individual
Gender: Male
date of birth: 1943/03/03
Age: 70
Country of nationality: Denmark
Address: Denmark
Number of involvements: 5
Function: Managing Director
Level of responsibility: Highest executive

Fullname: Mr Jimmi Madsen
Type: Individual
Gender: Male
Address: Denmark
Number of involvements: 5
Function: General Manager
Level of responsibility: Highest executive
Appointment date: 2007/12/18

Fullname: Mr Ulrich Ritsing
Type: Individual
Gender: Male
date of birth: 1956/03/17
Age: 57
Country of nationality: Denmark
Address: Denmark
Number of involvements: 6
Function: General Manager
Level of responsibility: Highest executive
Appointment date: 2007/12/18

Employees

 

Year                                                             2012             2011             2010             2009             2008

Total                                                            244               225               219               252               243

 

Financial analysis

 

Trend                                                          Fluctuating

Profitability                                                 More than sufficient

Solvability                                                   Positive

Liquidity                                                      Sufficient

Show amount in                                         Euro

 

Key figures

 

Year                                                             2012             2011             2010             2009             2008

Quick ratio                                                    1,05              1,33              1,04              0,97              0,93

Current ratio                                                  1,75              2,00              1,71              1,69              1,60

 

Working capital/ balance total                        0,24              0,29              0,24              0,23              0,21

Equity / balance total                                     0,44              0,45              0,39              0,36              0,36

Equity / Fixed assets                                    0,99              1,06              0,93              0,82              0,81

Solvability                                                     1,91              1,91              1,71              1,65              1,64

 

Working capital                                             7.886.169      8.481.979      6.430.694      6.232.830      5.703.201

Equity                                                          14.837.109    13.125.230    10.316.883    9.685.483      9.679.685

Mutation equity                                             13,04            27,22            6,52              0,06             

Mutation short term liabilities                          24,14            -6,95             0,10              -4,65            

 

Return on total assets (ROA)                         9,48              14,05            4,33              1,41              14,34

Return on equity (ROE)                                  21,36            31,33            11,18            3,95              40,16

Gross profit margin                                        7,64              9,60              5,00              1,98              9,17

Net profit margin                                            5,64              7,23              1,57              0,85              6,07

 

Average collection ratio                                  4,07              4,82              3,90              4,14              4,73

Average payment ratio                                   6,35              5,38              5,13              5,40              6,49

Equity turnover ratio                                       2,87              3,10              3,43              3,88              4,65

Total assets turnover ratio                              1,28              1,39              1,33              1,39              1,66

Fixed assets turnover ratio                             2,83              3,30              3,18              3,18              3,78

Inventory conversion ratio                               5,77              7,16              5,80              5,80              7,06

 

Turnover                                                       42.648.501    40.740.996    35.355.892    37.550.121    45.015.279

Gross margin                                                28.464.432    19.965.883    17.524.362    18.083.795    20.610.901

Operating result                                            3.257.968      3.910.693      1.766.122      745.233         4.126.857

Net result after taxes                                     2.407.248      2.943.815      553.704         319.252         2.734.334

 

Cashflow                                                      3.769.981      4.266.883      1.869.134      1.601.608      3.781.921

EBITDA                                                        4.620.701      5.233.762      3.081.552      2.027.589      5.174.445

 

 

Summary                                                   

The 2012 financial result structure is a postive working captial of 7.886.169 euro, which is in agreement with 24 % of the total assets of the company.
The working capital has diminished with -7.02 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.
The deterioration between 2011 and 2012 has mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2012 was 1.75. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2012 of the company was 1.05. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

The 2011 financial result structure is a postive working captial of 8.481.979 euro, which is in agreement with 29 % of the total assets of the company.
The working capital has increased with 31.9 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2010 and 2011 has mainly been caused by an increase of the current assets.
The current ratio of the company in 2011 was 2. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2011 of the company was 1.33. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

Financial statement

 

Auditor                                                        Name: KPMG Statsautoriseret Revisionspartnerselskab

Last annual account                                   2012

Remark annual account                              The company is obliged to file its financial statements.

 

Type of annual account                              Consolidated

Annual account                                           C. C. JENSEN A/S
LOVHOLMEN 13
5700 SVENDBORG
Denmark

Balance

 

Year                                                             2012             2011             2010             2009             2008

End date                                                      2012-12-31    2011-12-31    2010-12-31    2009-12-31    2008-12-31

Tangible fixed assets                                  13.704.199    11.040.146    9.583.408      10.024.930    10.138.013

Other fixed assets                                         1.345.589      1.298.991      1.518.655      1.775.478      1.760.301

Fixed assets                                                15.049.789    12.339.137    11.102.063    11.800.408    11.898.314

 

Inventories                                                    7.393.041      5.687.340      6.097.139      6.471.166      6.375.398

Total receivables                                        6.714.018      7.566.619      6.886.051      6.958.135      6.938.281

Liquid funds                                                  2.241.979      2.082.529      1.509.992      994.803         873.420

Other current assets                                      2.019.522      1.589.539      1.012.658      875.234         1.024.474

Current assets                                             18.368.561    16.926.026    15.505.841    15.299.337    15.211.574

Total assets                                                 33.418.349    29.265.163    26.607.904    27.099.745    27.109.888

 

Total equity                                                 14.837.109    13.125.230    10.316.883    9.685.483      9.679.685

Provisions                                                     1.079.873      854.291         703.757         969.658         933.924

Long term liabilities                                    7.018.842      6.841.595      6.512.117      7.378.231      6.988.043

Accounts payable                                         3.276.317      2.490.237      1.780.648      1.520.023      2.626.108

Short term liabilities                                   10.482.392    8.444.047      9.075.147      9.066.507      9.508.373

Total liabilities                                            33.418.349    29.265.163    26.607.904    27.099.745    27.109.888

 

Summary                                                   

The total assets of the company increased with 14.19 % between 2011 and 2012.
The total asset increase is retrievable in the fixed asset growth of 21.97 %.
In 2012 the assets of the company were 45.03 % composed of fixed assets and 54.97 % by current assets. The assets are being financed by an equity of 44.4 %, and total debt of 55.6 %.

The total assets of the company increased with 9.99 % between 2010 and 2011.
The total asset increase is retrievable in the fixed asset growth of 11.14 %.
In 2011 the assets of the company were 42.16 % composed of fixed assets and 57.84 % by current assets. The assets are being financed by an equity of 44.85 %, and total debt of 55.15 %.

 

Profit and loss

 

Year                                                             2012             2011             2010             2009             2008

Net turnover                                                42.648.501    40.740.996    35.355.892    37.550.121    45.015.279

 

Cost of sales                                                14.184.068    20.775.113    17.831.531    19.466.327    24.404.379

Gross margin                                              28.464.432    19.965.883    17.524.362    18.083.795    20.610.901

 

Wages and salaries                                       16.536.807    14.909.947    14.517.436    16.058.212    15.225.714

Amorization and depreciation                         1.362.732      1.323.069      1.315.430      1.282.356      1.047.588

Operating expenses                                      25.206.464    16.055.190    15.758.239    17.338.562    16.484.043

Operating result                                          3.257.968      3.910.693      1.766.122      745.233         4.126.857

 

Financial income                                           405.940         646.872         152.052         246.895         566.282

Financial expenses                                       494.200         445.507         764.658         609.748         805.575

Financial result                                             -88.260         201.366         -612.606        -362.853        -239.293

Result on ordinary operations before taxes3.169.709      4.112.059      1.153.383      382.514         3.887.564

 

Taxation on the result of ordinary activities       762.460         1.168.379      599.679         63.262          1.153.230

Result of ordinary activities after taxes       2.407.248      2.943.680      553.704         319.252         2.734.334

 

Net result                                                    2.407.248      2.943.815      553.704         319.252         2.734.334

 

Summary                                                   

The turnover of the company grew with 4.68 % between 2011 and 2012.
The gross profit of the company grew with 42.57 % between 2011 and 2012.
The operating result of the company declined with -16.69 % between 2011 and 2012. This evolution implies an decrease of the company's economic profitability.
The result of these changes is a reduction of the company's Economic Profitability of -32.53 % of the analysed period, being equal to 2011 % in the year 2012.
This fall has contributed to a asset turnover decrease, whose index evolved from -7.91 to a level of 1.28.
The Net Result of the company increased by -18.23 % between 2011 and 2012.
The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of -31.82 % of the analysed period, being 21.36 % in the year 2012.
The company's financial profitability has been positively affected by its financial structure.

The turnover of the company grew with 15.23 % between 2010 and 2011.
The gross profit of the company grew with 13.93 % between 2010 and 2011.
The operating result of the company grew with 121.43 % between 2010 and 2011. This evolution implies an increase of the company's economic profitability.
The result of these changes is an increase of the company's Economic Profitability of 224.48 % of the analysed period, being equal to 2010 % in the year 2011.
This growth has contributed to the increase in assets turnover, increasing by 4.51 % reaching 1.39.
The Net Result of the company decreased by 431.66 % between 2010 and 2011.
The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of 180.23 % of the analysed period, being 31.33 % in the year 2011.
The company's financial structure has slowed down its financial profitability.

Publications

 

Remarks                                            Category: Large company
Last year: 2012
Turnover last year: 42.648.501 EUR
Result last year: 2.407.248 EUR
TOTAL assets last year: 33.418.349 EUR
Number of employees: 244
Number of shareholders: 1
Number of subsidiaries: 13
Number of branches: 10

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.66

UK Pound

1

Rs.102.19

Euro

1

Rs.87.74

 

 

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

 

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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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.