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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ARGYLL INTERNATIONAL LTD. |
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Registered Office : |
Radleigh House / 1 Golf Road Clarkston Glasgow, G76 7HU |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
10.09.2002 |
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Com. Reg. No.: |
SC236601 |
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Legal Form : |
Private Independent |
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Line of Business : |
Retail sale of automotive fuel. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
United Kingdom |
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 |
UNITED KINGDOM - ECONOMIC
OVERVIEW
The UK, a leading trading power and financial center, is the
second largest economy in Europe after Germany. Over the past two decades, the
government has greatly reduced public ownership and contained the growth of
social welfare programs. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, account by far for the largest proportion of GDP while
industry continues to decline in importance. After emerging from recession in
1992, Britain's economy enjoyed the longest period of expansion on record
during which time growth outpaced most of Western Europe. In 2008, however, the
global financial crisis hit the economy particularly hard, due to the importance
of its financial sector. Sharply declining home prices, high consumer debt, and
the global economic slowdown compounded Britain's economic problems, pushing
the economy into recession in the latter half of 2008 and prompting the then
BROWN (Labour) government to implement a number of measures to stimulate the
economy and stabilize the financial markets; these include nationalizing parts
of the banking system, temporarily cutting taxes, suspending public sector
borrowing rules, and moving forward public spending on capital projects. Facing
burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition
government (between Conservatives and Liberal Democrats) initiated a five-year
austerity program, which aimed to lower London's budget deficit from over 10%
of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the
Exchequer George OSBORNE announced additional austerity measures through 2017
because of slower-than-expected economic growth and the impact of the euro-zone
debt crisis. The CAMERON government raised the value added tax from 17.5% to
20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014.
The Bank of England (BoE) implemented an asset purchase program of up to £375
billion (approximately $605 billion) as of December 2012. During times of
economic crisis, the BoE coordinates interest rate moves with the European
Central Bank, but Britain remains outside the European Economic and Monetary
Union (EMU). In 2012, weak consumer spending and subdued business investment
weighed on the economy. GDP fell 0.1%, and the budget deficit remained
stubbornly high at 7.7% of GDP. Public debt continued to increase
Source
: CIA
|
ARGYLL
INTERNATIONAL LTD. |
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Argyll International is a niche energy technology company developing advanced low carbon solutions to help businesses and other organisations reduce their greenhouse gas emissions. Based in Scotland and working with partners in China Singapore Malaysia Thailand and South Africa Argyll International has developed a range of Super Green Future Fuels that are ideal for trucks ferries ships cars trains heavy off-road vehicles and to heat homes and offices. Argyll International was formed by Dr Thomas Campbell Chartered Mechanical and Energy Engineer Fellow of the Energy Institute and Carolyn Morning who has worked in marketing and business development of alternative energy businesses in the UK Europe and Africa. |
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Industry |
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ANZSIC 2006: |
6999 - Other Professional, Scientific and Technical Services Not Elsewhere Classified |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
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Registered No.(UK): SC236601
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6267523
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6281078
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ANZSIC 2006 Codes: |
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6999 |
- |
Other Professional, Scientific and Technical Services Not Elsewhere Classified |
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ISIC Rev 4 Codes: |
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8299 |
- |
Other business support service activities n.e.c. |
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NACE Rev 2 Codes: |
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8299 |
- |
Other business support service activities n.e.c. |
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NAICS 2012 Codes: |
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561990 |
- |
All Other Support Services |
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US SIC 1987: |
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7389 |
- |
Business Services, Not Elsewhere Classified |
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UK SIC 2007: |
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8299 |
- |
Other business support service activities n.e.c. |
Retail sale of automotive fuel.
Argyll International is a niche energy technology company developing advanced low carbon solutions to help businesses and other organisations reduce their greenhouse gas emissions. Based in Scotland and working with partners in China Singapore Malaysia Thailand and South Africa Argyll International has developed a range of Super Green Future Fuels that are ideal for trucks ferries ships cars trains heavy off-road vehicles and to heat homes and offices. Argyll International was formed by Dr Thomas Campbell Chartered Mechanical and Energy Engineer Fellow of the Energy Institute and Carolyn Morning who has worked in marketing and business development of alternative energy businesses in the UK Europe and Africa.
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Auditor: |
O'Haras |
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Auditor: |
O'Haras |
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Auditor History |
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O'Haras |
31-Mar-2012 |
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Thomas Barrie And Co LLP |
28-Feb-2010 |
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Thomas Barrie And Co |
28-Feb-2009 |
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Thomas Barrie And Co |
29-Feb-2008 |
Executives Report
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
24 Feb 1966 |
20 Auldmurroch Drive, Milngavie, |
13 Dec 2002 |
NA |
Current:2 |
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Current |
19 Dec 1951 |
3 Kinkell Gardens, Kirkintilloch, |
13 Dec 2002 |
NA |
Current:1 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Dalglen Directors Limited |
Previous |
Dalmore House, 310 St Vincent Street, |
10 Sep 2002 |
13 Dec 2002 |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
24 Feb 1966 |
20 Auldmurroch Drive, Milngavie, |
13 Dec 2002 |
NA |
Current:2 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Dalglen Secretaries Limited |
Previous |
310 Dalmore House St. Vincent Street, |
10 Sep 2002 |
13 Dec 2002 |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
Carolyn Morning |
11200000 Ordinary GBP 0.00 |
Ordinary |
11,200,000 |
0.00 |
<0.01 |
49.78 |
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Donald MacRae |
40000 Ordinary GBP 0.00 |
Ordinary |
40,000 |
0.00 |
<0.01 |
0.18 |
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Dr. Thomas Campbell |
11200000 Ordinary GBP 0.00 |
Ordinary |
11,200,000 |
0.00 |
<0.01 |
49.78 |
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Eleanor Grogan Allison |
34000 Ordinary GBP 0.00 |
Ordinary |
34,000 |
0.00 |
<0.01 |
0.15 |
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William Campbell |
25000 Ordinary GBP 0.00 |
Ordinary |
25,000 |
0.00 |
<0.01 |
0.11 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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31-Mar-2012 |
28-Feb-2011 |
28-Feb-2010 |
28-Feb-2009 |
29-Feb-2008 |
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Period Length |
57 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.626752 |
0.647226 |
0.631243 |
0.575434 |
0.499536 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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|
31-Mar-2012 |
28-Feb-2011 |
28-Feb-2010 |
28-Feb-2009 |
29-Feb-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.628108 |
0.614817 |
0.656858 |
0.701582 |
0.502715 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Intangible Assets |
0.8 |
0.3 |
0.3 |
0.1 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.8 |
0.3 |
0.3 |
0.2 |
0.0 |
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Stocks |
- |
- |
- |
- |
0.0 |
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Work in Progress |
- |
- |
- |
- |
0.0 |
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Total Stocks Work In Progress |
0.2 |
0.2 |
0.2 |
0.2 |
0.0 |
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Total Debtors |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Cash and Equivalents |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.3 |
0.4 |
0.3 |
0.3 |
0.1 |
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Total Assets |
1.1 |
0.6 |
0.6 |
0.5 |
0.1 |
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Other Current Liabilities |
0.4 |
0.7 |
0.7 |
0.6 |
0.3 |
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Total Current Liabilities |
0.4 |
0.7 |
0.7 |
0.6 |
0.3 |
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Group Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.5 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
0.0 |
-0.1 |
-0.2 |
-0.2 |
-0.2 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
0.5 |
-0.1 |
-0.2 |
-0.2 |
-0.2 |
|
Net Worth |
-0.3 |
-0.4 |
-0.4 |
-0.3 |
-0.2 |
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|
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Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Mar-2012 |
28-Feb-2011 |
28-Feb-2010 |
28-Feb-2009 |
29-Feb-2008 |
|
Period Length |
57 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.626752 |
0.647226 |
0.631243 |
0.575434 |
0.499536 |
|
Consolidated |
No |
No |
No |
No |
No |
|
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|
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|
|
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|
Annual Ratios |
|
Financials in: USD (mil) |
|
|
31-Mar-2012 |
28-Feb-2011 |
28-Feb-2010 |
28-Feb-2009 |
29-Feb-2008 |
|
Period Length |
57 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.628108 |
0.614817 |
0.656858 |
0.701582 |
0.502715 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
0.73 |
0.48 |
0.40 |
0.51 |
0.23 |
|
Liquidity Ratio |
0.26 |
0.14 |
0.11 |
0.22 |
0.23 |
|
Equity Gearing |
4,624.00% |
-1,561.00% |
-2,825.00% |
-3,311.00% |
-26,140.00% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.