|
Report Date : |
20.12.2013 |
|
|
|
|
Tel. No.: |
+44 0 1928502200 |
|
Fax No.: |
+44 0 1928569383 |
IDENTIFICATION DETAILS
|
Name : |
PHARMASERVE (NORTH WEST) LTD. |
|
|
|
|
Registered Office : |
Ayrton House Parliament Business Park Commerce Way Liverpool, L8 7BA |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
12.09.2007 |
|
|
|
|
Com. Reg. No.: |
06368662 |
|
|
|
|
Legal Form : |
Private Subsidiary |
|
|
|
|
Line of Business : |
Manufacture and supply of pharmaceutical products |
|
|
|
|
No. of Employees : |
47 |
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 |
|
Payment Behaviour : |
Slow but correct |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
PHARMASERVE (NORTH
WEST) LTD. |
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Manufacture and supply of pharmaceutical products. |
|
Industry |
|
|
ANZSIC 2006: |
1841 - Human Pharmaceutical and Medicinal Product Manufacturing |
|
ISIC Rev 4: |
2100 - Manufacture of pharmaceuticals, medicinal chemical and botanical products |
|
NACE Rev 2: |
|
|
NAICS 2012: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
|
|
||||||||||||||||||||||
Registered No.(UK): 06368662
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6311738
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6190609
|
|
|
|||||||||||||||||||||||||||||
9 Arkwright Road, Astmoor Industrial Estate, Runcorn, Cheshire WA7 1NU United Kingdom
|
ANZSIC 2006 Codes: |
||
|
1841 |
- |
Human Pharmaceutical and Medicinal Product Manufacturing |
|
ISIC Rev 4 Codes: |
||
|
2100 |
- |
Manufacture of pharmaceuticals, medicinal chemical and botanical products |
|
NACE Rev 2 Codes: |
||
|
2120 |
- |
Manufacture of pharmaceutical preparations |
|
NAICS 2012 Codes: |
||
|
325411 |
- |
Medicinal and Botanical Manufacturing |
|
US SIC 1987: |
||
|
2834 |
- |
Pharmaceutical Preparations |
|
UK SIC 2007: |
||
|
2120 |
- |
Manufacture of pharmaceutical preparations |
Manufacture and supply of pharmaceutical products
Pharmaceutical Products Manufacturers
|
|||||||||||||||||||||||||||||||||||||||||||
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|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Liverpool |
United Kingdom |
Miscellaneous Professional Services |
87.0 |
277 |
|
|
Subsidiary |
Manchester |
United Kingdom |
Pharmaceutical Manufacturing |
|
75 |
|
|
Subsidiary |
Liverpool |
United Kingdom |
Pharmaceutical Manufacturing |
|
75 |
|
|
Subsidiary |
Andover |
United Kingdom |
Pharmaceutical Manufacturing |
13.4 |
71 |
|
|
Subsidiary |
Liverpool |
United Kingdom |
Pharmaceutical Manufacturing |
8.4 |
47 |
|
|
Subsidiary |
Liverpool |
United Kingdom |
Rubber and Plastic Product Manufacturing |
30.5 |
45 |
|
|
Subsidiary |
Liverpool |
United Kingdom |
Waste Management |
|
25 |
|
|
Subsidiary |
Andover |
United Kingdom |
Miscellaneous Wholesale |
|
8 |
|
|
Subsidiary |
Liverpool |
United Kingdom |
Miscellaneous Wholesale |
15.1 |
|
|
|
Subsidiary |
Slough |
United Kingdom |
Synthetic Chemical Manufacturing |
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Rubber and Plastic Product Manufacturing |
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Miscellaneous Professional Services |
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Research and Development Services |
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Pharmaceutical Manufacturing |
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Miscellaneous Professional Services |
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Miscellaneous Professional Services |
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Miscellaneous Professional Services |
|
|
|
|
Subsidiary |
Hitchin |
United Kingdom |
Pharmaceutical Manufacturing |
|
28 |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
Individual Directors |
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
28 Jun 1979 |
Ayrton House Parliament Business Park, Commerce Way, |
12 Sep 2007 |
NA |
Current:2 |
|
|
|
Current |
30 Jun 1976 |
Ayrton House Commerce Way, |
30 Apr 2012 |
NA |
Current:19 |
|
|
|
Current |
12 Jan 1949 |
Ayrton House, Parliament Business Park, |
01 Sep 2012 |
NA |
Current:1 |
|
|
|
Previous |
01 Apr 1971 |
16 The Evergreens, |
12 Sep 2007 |
30 Apr 2012 |
Current:5 |
|
|
|
|
|
||||||
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
Corporate Directors |
|
There are no corporate directors for this company. |
|
|
|
Individual
Secretaries |
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
NA |
Ayrton House, Parliament Business Park, |
30 Apr 2012 |
NA |
Current:1 |
|
|
|
Previous |
01 Apr 1971 |
16 The Evergreens, |
12 Sep 2007 |
30 Apr 2012 |
Current:5 |
|
|
|
Corporate
Secretaries |
||||
|
Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Swift Incorporations Limited |
Previous |
1 Mitchell Lane, |
12 Sep 2007 |
12 Sep 2007 |
|
|
||||
|
|
||||
|
|
||||
|
Individual
Shareholders |
||||||
|
There are no individual shareholders for this company. |
||||||
|
|
||||||
|
|
||||||
|
|
|
|
|
|
|
|
|
Corporate
Shareholders |
|||||||
|
Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
03266045 |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
100.00 |
|
|
|
|||||||
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.631174 |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Total Turnover |
8.4 |
8.4 |
11.6 |
12.7 |
- |
|
Cost of Sales |
- |
5.8 |
8.9 |
- |
- |
|
Total Expenses |
8.1 |
- |
- |
12.4 |
- |
|
Gross Profit |
- |
2.6 |
2.7 |
- |
2.5 |
|
Depreciation |
0.1 |
0.4 |
0.5 |
0.4 |
0.5 |
|
Other Expenses |
- |
1.5 |
2.0 |
- |
2.2 |
|
Operating Profit |
0.3 |
- |
0.8 |
0.4 |
0.3 |
|
Other Income |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Paid |
0.0 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Exceptional Income |
-1.5 |
-1.5 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
-1.2 |
-0.5 |
0.7 |
0.3 |
0.2 |
|
Tax Payable / Credit |
-0.3 |
-0.1 |
0.2 |
0.1 |
0.1 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit After Taxes |
-0.9 |
-0.4 |
0.5 |
0.2 |
0.2 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
47 |
56 |
54 |
53 |
53 |
|
Wages |
1.3 |
2.0 |
1.8 |
1.9 |
2.7 |
|
Social Security Costs |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Pensions |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Pension Costs |
0.0 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Employees Remuneration |
1.5 |
2.2 |
2.0 |
2.1 |
2.9 |
|
Directors Emoluments |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Costs |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Directors Remuneration |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Highest Paid Director |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.619061 |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
0.7 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
1.1 |
0.1 |
0.4 |
0.8 |
1.0 |
|
Total Tangible Fixed Assets |
1.9 |
0.1 |
0.5 |
0.8 |
1.0 |
|
Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
1.9 |
0.1 |
0.5 |
0.8 |
1.0 |
|
Stocks |
1.9 |
1.4 |
- |
1.8 |
- |
|
Work in Progress |
0.0 |
0.0 |
- |
0.0 |
- |
|
Total Stocks Work In Progress |
1.9 |
1.4 |
1.4 |
1.8 |
2.6 |
|
Trade Debtors |
0.7 |
0.9 |
2.2 |
2.4 |
1.7 |
|
Inter-Company Debtors |
0.5 |
2.5 |
0.9 |
0.1 |
0.1 |
|
Director Loans |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Debtors |
0.9 |
0.4 |
0.2 |
0.1 |
0.1 |
|
Total Debtors |
2.1 |
3.8 |
3.3 |
2.6 |
1.8 |
|
Cash and Equivalents |
0.0 |
0.4 |
0.4 |
0.3 |
0.3 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
4.0 |
5.6 |
5.2 |
4.7 |
4.6 |
|
Total Assets |
5.9 |
5.7 |
5.6 |
5.5 |
5.6 |
|
Trade Creditors |
0.6 |
0.7 |
0.5 |
0.4 |
0.2 |
|
Bank Overdraft |
0.0 |
0.4 |
1.1 |
0.5 |
0.8 |
|
Inter-Company Creditors |
2.0 |
1.5 |
0.7 |
0.9 |
0.4 |
|
Hire Purchase (Current Liability) |
0.3 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.3 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Accruals/Deferred Income (Current Liability) |
0.2 |
- |
- |
- |
- |
|
Social Security/VAT |
0.1 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Corporation Tax |
0.0 |
0.3 |
0.3 |
0.2 |
0.1 |
|
Other Current Liabilities |
0.4 |
0.2 |
0.1 |
0.0 |
0.5 |
|
Total Current Liabilities |
3.5 |
3.5 |
3.0 |
2.5 |
2.4 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
1.0 |
1.7 |
2.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.2 |
0.2 |
0.4 |
0.7 |
0.8 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.2 |
0.2 |
0.4 |
0.7 |
0.8 |
|
Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.2 |
0.2 |
1.5 |
2.3 |
2.8 |
|
Deferred Taxation |
- |
0.0 |
0.0 |
0.0 |
0.1 |
|
Other Provisions |
1.3 |
1.3 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
1.3 |
1.3 |
0.0 |
0.0 |
0.1 |
|
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 |
1.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
-0.1 |
0.8 |
1.2 |
0.6 |
0.4 |
|
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 |
1.0 |
0.8 |
1.2 |
0.6 |
0.4 |
|
Net Worth |
1.0 |
0.8 |
1.2 |
0.6 |
0.4 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.631174 |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
|
|
Annual Ratios |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.619061 |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.17 |
1.62 |
1.72 |
1.86 |
1.93 |
|
Liquidity Ratio |
0.61 |
1.21 |
1.24 |
1.15 |
0.87 |
|
Stock Turnover |
448.00 |
564.00 |
814.00 |
730.00 |
- |
|
Credit Period (Days) |
2,852.00 |
3,912.00 |
6,920.00 |
6,657.00 |
- |
|
Working Capital by Sales |
678.00% |
2,651.00% |
1,842.00% |
1,657.00% |
- |
|
Trade Credit by Debtors |
83.00 |
84.00 |
23.00 |
18.00 |
9.00 |
|
Return on Capital |
-4,974.00% |
-2,114.00% |
2,802.00% |
1,119.00% |
589.00% |
|
Return on Assets |
-2,063.00% |
-828.00% |
1,309.00% |
606.00% |
337.00% |
|
Profit Margin |
-1,424.00% |
-580.00% |
625.00% |
254.00% |
- |
|
Return on Shareholders Funds |
-11,990.00% |
-5,866.00% |
6,326.00% |
5,222.00% |
5,043.00% |
|
Borrowing Ratio |
23,842.00% |
29,257.00% |
29,796.00% |
62,603.00% |
112,520.00% |
|
Equity Gearing |
1,720.00% |
1,411.00% |
2,068.00% |
1,160.00% |
668.00% |
|
Debt Gearing |
15.98% |
21.88% |
125.75% |
364.03% |
742.52% |
|
Interest Coverage |
-9,847.00 |
-804.00 |
1,394.00 |
729.00 |
1,685.00 |
|
Sales by Tangible Assets |
458.00 |
10,652.00 |
2,576.00 |
1,644.00 |
- |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.2 |
0.1 |
0.2 |
0.2 |
- |
|
Capital Employed per Employee |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Employee Remuneration by Sales |
1,804.00% |
2,616.00% |
1,759.00% |
1,684.00% |
- |
|
Creditor Days (Cost of Sales Based) |
2,354.00 |
4,786.00 |
2,113.00 |
1,174.00 |
- |
|
Creditor Days (Sales Based) |
2,354.00 |
3,290.00 |
1,617.00 |
1,174.00 |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
|
|
1 |
Rs.102.15 |
|
Euro |
1 |
Rs.85.29 |
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%)