|
Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLAXOSMITHKLINE
AUSTRALIA PTY LTD |
|
|
|
|
Formerly Known As : |
GSK OPERATIONS
PTY LTD (initial) |
|
|
|
|
Registered Office : |
1061 Mountain Highway
Boronia Victoria 3155 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
09.04.2002 |
|
|
|
|
Com. Reg. No.: |
100162481 |
|
|
|
|
Legal Form : |
Australian
Proprietary Company |
|
|
|
|
Line of Business : |
Research,
development, production, export and distribution of pharmaceutical and
healthcare products. |
|
|
|
|
No. of Employees : |
99,488
(GlaxoSmithKline Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
The Australian economy has experienced continuous growth and
features low unemployment, contained inflation, very low public debt, and a strong
and stable financial system. By 2012, Australia had experienced more than 20
years of continued economic growth, averaging 3.5% a year. Demand for resources
and energy from Asia and especially China has grown rapidly, creating a channel
for resources investments and growth in commodity exports. The high Australian
dollar has hurt the manufacturing sector, while the services sector is the
largest part of the Australian economy, accounting for about 70% of GDP and 75%
of jobs. Australia was comparatively unaffected by the global financial crisis
as the banking system has remained strong and inflation is under control.
Australia has benefited from a dramatic surge in its terms of trade in recent
years, stemming from rising global commodity prices. Australia is a significant
exporter of natural resources, energy, and food. Australia''s abundant and
diverse natural resources attract high levels of foreign investment and include
extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable
energy sources. A series of major investments, such as the US$40 billion Gorgon
Liquid Natural Gas project, will significantly expand the resources sector.
Australia is an open market with minimal restrictions on imports of goods and
services. The process of opening up has increased productivity, stimulated
growth, and made the economy more flexible and dynamic. Australia plays an
active role in the World Trade Organization, APEC, the G20, and other trade
forums. Australia has bilateral free trade agreements (FTAs) with Chile,
Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with
ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia,
Japan, and the Republic of Korea, as well as with its Pacific neighbors and the
Gulf Cooperation Council countries, and is also working on the Trans-Pacific
Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico,
New Zealand, Peru, Singapore, the US, and Vietnam.
Source
: CIA
Verified Address
Subject name : GLAXOSMITHKLINE AUSTRALIA PTY LTD
Business address :
1061 Mountain Highway
Town : Boronia
Province : Victoria
Zip/postal code : 3155
Country : Australia
Tel : +61 3 97216000
Fax : +61 3 97295319
Website : www.gsk.com.au
Registered address
: 1061 Mountain Highway
Town : Boronia
Province : Victoria
Zip/postal code : 3155
Country : Australia
Postal address : P.O. Box 168
Town : Boronia
Province : Victoria
Zip/postal code : 3155
Country : Australia
Comments : The provided address 82 Hughes
Avenue
Ermington, NSW 2115, Australia belongs to the Subject's consumer
healthcare
division.
Executive Summary
Date founded or
registered : 09/04/2002
Legal form : Australian Proprietary
Company
Chief executive : Geoffrey Michael McDonald
Issued & paid
up capital : AUD 1,066,300,001
Sales turnover : AUD 1,452,000,000
(Non-Consolidated 12 months, 31/12/2012)
Line of business :
Research,
development, production, export and distribution of pharmaceutical
and healthcare products.
Staff employed : 99,488 employes
(GlaxoSmithKline Group)
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is progressing
Management
experience : Management is adequately experienced
Financial
performance : Financial performance is good
Organization
structure : Organizational structure is consistent
Detrimental : No detrimental found
Payment history : No payment delays noted
Comments : Larger credit can still be
considered. The Subject is well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration date
: 09/04/2002
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
100162481
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 47100162481
Registry status : Live/Active
Previous name : GSK OPERATIONS PTY LTD (initial)
Change of legal
form : None reported.
Key Management
Name : Geoffrey Michael McDonald
Designation : General Manager - Pharmaceutical
Name : Ankush Nandra
Designation : Chief Financial Officer
Name : Vincent Henri Andre Cotard
Designation : General Manager - Consumer Healthcare
Name : Troy Dryden Webb
Designation : Site Director
Appointments
Name : Troy Dryden Webb
Designation : Director
Appointment date :
20/05/10
Address : 9 Swaran Court
Rowville, VIC 3178
Australia
Biography : Born on 12-04-1970 in Subiaco, Western
Australia, Australia.
Name : Ankush Nandra
Designation : Director
Appointment date :
06/04/12
Address : C/o GLAXOSMITHKLINE AUSTRALIA PTY LTD
1061 Mountain Highway
Boronia, VIC 3155
Australia
Biography : Born on 06-12-1971 in Stafford, United
Kingdom.
Name : Vincent Henri Andre Cotard
Designation : Director
Appointment date :
25/08/11
Address : C/o GLAXOSMITHKLINE AUSTRALIA PTY LTD
1061 Mountain Highway
Boronia, VIC 3155
Australia
Biography : Born on 25-04-1963 in Déville-lčs-Rouen,
France.
Name : Geoffrey Michael McDonald
Designation : Director
Appointment date :
01/05/12
Address : C/o GLAXOSMITHKLINE AUSTRALIA PTY LTD
1061 Mountain Highway
Boronia, VIC 3155
Australia
Biography : Born on 20-07-1961 in Rotorua, New
Zealand.
Name : Julia Helen Banks
Designation : Company Secretary
Appointment date :
19/01/12
Address : 83 Stanhope Street
Malvern, VIC 3144
Australia
Biography : Born on 18-09-1962 in Melbourne, Victoria,
Australia.
Name : Laura Marie Ljubanovic
Designation : Company Secretary
Appointment date :
29/08/12
Address : Unit 2, 17 Byron Street
Elwood, VIC 3184
Australia
Biography : Born on 15-02-1980 in Melbourne, Victoria,
Australia.
Staff employed :
99,488 employes (GlaxoSmithKline Group)
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS
Freshwater Place
2 Southbank Boulevard
Southbank, VIC 3006
Australia
Composition
Authorized Capital
: AUD 1,066,300,001
No of shares : 1,066,300,001 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 1,066,300,001
Paid up capital : AUD 1,066,300,001
How listed : Full
List
Composition
Shareholder name :
GLAXOSMITHKLINE INVESTMENTS PTY LTD
Address : 1061 Mountain Highway
Boronia, VIC 3155
Australia
No. of shares : 1,066,300,001 Ordinary Shares
% of shares : 100%
Structure
Name : GLAXOSMITHKLINE PLC
Affiliation type :
Ultimate Holding Company
Address : 980 Great West Road
Brentford, Middlesex, TW8 9GS
United Kingdom
Comments : GlaxoSmithKline plc was incorporated as an
English public limited company on
December 6, 1999. It's formed with the merger between Glaxo Wellcome plc
and
SmithKline Beecham plc.
GlaxoSmithKline plc (GSK) is global healthcare group, which is engaged
in the
creation and discovery, development, manufacture and marketing of
pharmaceutical products, including vaccines, over-the-counter (OTC)
medicines
and health-related consumer products. GSK’s principal pharmaceutical
products
include medicines in therapeutic areas: respiratory, anti-virals,
central nervous
system, cardiovascular and urogenital, metabolic, antibacterials,
oncology and
emesis, dermatology, rare diseases, immuno-inflammation, vaccines and
human
immunodeficiency virus (HIV). The Company operates in three primary
areas of
business: Pharmaceuticals, Vaccines and Consumer Healthcare.
GlaxoSmithKline plc's shares are listed on the London Stock Exchange and
the
New York Stock Exchange.
Name : GLAXOSMITHKLINE INVESTMENTS PTY LTD
Affiliation type :
Parent Company
Address : 1061 Mountain Highway
Boronia, VIC 3155
Australia
Name : GLAXOSMITHKLINE PTE LTD
Affiliation type :
Sister Company
Address : 150 Beach Road
#21-00 Gateway West
Singapore 189720
Singapore
Name : GLAXOSMITHKLINE INVESTMENTS PTY LTD
Affiliation type :
Sister Company
Address : 1061 Mountain Highway
Boronia, VIC 3155
Australia
Name : GLAXOSMITHKLINE NZ LIMITED
Affiliation type :
Sister Company
Address : Level 11, Zurich House
21 Queen Street
Auckland Central, Auckland 1010
New Zealand
Related companies
and corporateaffiliations comments
: Other companies
of the Glaxosmithkline Group should be considered affiliates of the Subject.
Bank Details
Name of bank : Citibank
Address : Australia
Account details :
Current Account
Comments : It is generally not the policy of local banks
to provide credit status information to
non related parties, however interested parties would be advised to
consult first
with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of
financial statement : External Sources
Financial
statement date : 31/12/12
Type of accounts :
Key figures
Currency : Australia Dollar
(AUD)
Exchange rate : 1 USD = AUD 1.06 as of
10-06-2013
Summarized Financial Information
Consolidation type
: Non Consolidated Group Consolidated Group Consolidated
Currency : Australia Dollar (AUD) United Kingdom, Pound(GBP) United Kingdom, Pound(GBP)
Denomination : (x1) One (x1) One (x1) One
Date of financial
year
end : 31/12/12 31/12/12 31/12/11
Length of accounts
: 12 months 12 months
12 months
Sale turnover /
Income : 1,452,000,000 26,431,000,000
27,387,000,000
Gross profit : 18,537,000,000
19,739,000,000
Operating profit :
7,392,000,000
7,807,000,000
Profit before tax
: 41,000,000 6,692,000,000 7,698,000,000
Net income : 4,744,000,000
5,458,000,000
Non current assets
: 27,783,000,000
24,913,000,000
Current assets : 13,692,000,000
16,167,000,000
Inventories : 3,969,000,000
3,873,000,000
Total assets : 41,475,000,000
41,080,000,000
Current
liabilities : 13,815,000,000
15,010,000,000
Non current
liabilities : 20,913,000,000
17,243,000,000
Total liabilities
: 34,728,000,000 32,253,000,000
Share equity : 6,747,000,000
8,827,000,000
Retained earning :
652,000,000
3,370,000,000
Comments : The
non-consolidated financial figures above relates to the Subject only.
The group’s
consolidated financial information above relates to the Subject’s
Ultimate Holding
Company Glaxosmithkline PLC and all its subsidiaries which
includes the
Subject.
Main activities : The
Subject engages in research, development, production, export and
distribution of pharmaceutical and healthcare products.
GSK has four manufacturing facilities in Australia:
1) Boronia, Victoria
Established in 1970 after being relocated from North Melbourne, the
Boronia head office houses employees working in marketing and sales,
research and development, regulatory affairs, government and corporate
affairs, finance, IT and human resources.
The manufacturing plant is the largest GSK sterile facility globally.
The site
houses world leading blow-fill-seal technology, featuring eight filling
machines and six packaging lines, as well as 10 tableting lines. The
most
recent edition is a second Relenza line completed in 2006.
The site has the capacity to produce 1.4 billion tablets per annum,
including
products for migraine, herpes, peptic ulcers, treatment of epilepsy,
smoking
cessation and anti-virals. Additional capsule products are manufactured
for
relief of asthma and pain management.
A microbiology laboratory is also located at the Boronia site that tests
4,000
samples each year and a chemistry laboratory that test 11,000 samples
each year.
2) Ermington, New South Wales
GlaxoSmithKline’s site at Ermington, in Sydney’s north, manufactures and
markets our consumer products that are sold in pharmacies and
supermarkets.
Many of GSKs most well known products are manufactured at the facility,
including Panadol and Macleans. Each year the plant produces more than
50 million packs of Panadol, 10 million bottles of paediatric liquids
and 22
million tubes of toothpaste. Products are exported to 15 different
countries.
In 2006 GSK celebrates 50 years of Panadol in Australia, and the popular
pain relieving drug has been manufactured at Ermington since 1959.
3) Latrobe, Tasmania
The Tasmanian poppy industry was pioneered by Glaxo Australia in the
early 1960s.
Through significant developments and the application of innovative
research and development, GSK continues to contract with and assist
Tasmanian farmers to grow poppy crop, directly contributing to the
word’s
medicinal opiate needs. Making this possible is a world-leading crop
handling facility at Latrobe, Tasmania, that allows the crop to be
harvested
and processed with maximum efficiency.
4) Port Fairy, Victoria
Medicinal alkaloids are extracted from the poppies at the GSK factory in
Port Fairy, Victoria. Molecules such as thebaine, codeine and morphine
are
vital ingredients in many pain relieving medicines and are used in a
range
of pharmacy and prescription medicines worldwide.
More than 95 per cent of the refined product is exported.
The Subject is ultimately owned by GlaxoSmithKline PLC.
GlaxoSmithKline plc, together with its subsidiaries, discovers,
develops,
manufactures, and markets pharmaceutical products, over-the-counter
medicines, and health-related consumer products worldwide. It offers
pharmaceutical products in various therapeutic areas comprising
respiratory, anti-virals, central nervous system, cardiovascular and
urogenital, metabolic, antibacterials, oncology and emesis, dermatology,
rare diseases, immuno-inflammation, vaccines, and HIV. The company
provides prescription medicines to treat a range of conditions,
including
infections, depression, skin conditions, asthma, heart and circulatory
disease, and cancer. It also produces paediatric and adult vaccines to
prevent a range of infectious diseases, including hepatitis A and B;
diphtheria, tetanus, and whooping cough; measles, mumps, and rubella;
polio; typhoid; influenza; and bacterial meningitis. In addition, it
provides
consumer health products in oral care, nutritional, total wellness, and
skin
health areas. The company's total wellness products include Panadol for
the treatment of paracetamol-based treatment of headache and joint pain,
fever, and cold symptoms; NicoDerm, NiQuitin CQ, and Nicabate for the
treatment of nicotine withdrawal as an aid to quitting smoking; ENO
Tums,
a rapid relief antacid; and oral care products comprise Sensodyne for
the
prevention of dental sensitivity; Polident, Poligrip, and Corega to
improve
comfort of fitted dentures and to clean dentures; Aquafresh for the
prevention of caries, gum disease, and bad breath; and Parodontax to
help
stop bleeding gums and gum health. Its nutrition products include
Lucozade for energy and hydration; and Horlicks and Maxinutrition for
nutrition; and skin health products comprise Physiogel, a face and body
care product for dry, sensitive, and irritated skin, and Oilatum, a
soothing
treatment for eczema and dry skin conditions. The company was founded
in 1935 and is headquartered in Brentford, the United Kingdom.
Product &
services : - Prescription
Medicines
- Vaccines
- Customer healthcare products: Dental Care products, Pain & Fever
Relief
products, Heartburn & Indigestion relief products, Nutritionals
Brand : GLAXOSMITHKLINE
Purchases
International :
Worldwide
Sales
Local : Yes
International :
Worldwide
Key events : 22 May 2013
Changes to GSK Manufacturing Site in Melbourne
GlaxoSmithKline (GSK) Australia is intending to close the tablet
packaging
part of the business at the Melbourne site in Boronia as part of a business
transformation.
It is estimated that 120 jobs will be lost through the transformation
however
any redundancy will not come into effect immediately as the process will
take some time to account for regulatory requirements of affected
markets.
“We will support our impacted employees throughout the process. While
this will be difficult, we must focus on our strengths. We have a strong
capability in higher technology manufacturing and will build this side
of the
business,” Troy Webb Boronia Site Director said.
The Boronia manufacturing facility is renowned for Rotacaps, a
distribution
device for respiratory medicines that the company is investing in to
support
patients in emerging markets, and Blow Fill Seal, a high quality
container
for sterile liquid medicines.
“Despite continuing challenges in the operating environment in
Australia,
our vision is to be the GSK centre of excellence worldwide for supplying
low cost unit dose, blow fill seal and dry powder inhalation medicines,”
Troy said.
The GSK site in Boronia currently employees 363 people.
GlaxoSmithKline is a global research-based pharmaceutical and healthcare
company with a mission to improve the quality of human life. In
Australia
we have delivered the highest quality medicines, vaccines and
over-the-counter healthcare products since 1886. We contribute to
Australia’s economy through new approaches to agriculture and
manufacturing, and by investing in local research and development.
Source: www.gsk.com.au
14 May 2013
GSK Australia Reports 2012 Results to ASIC
GlaxoSmithKline (GSK) reported to the Australian Securities and
Investment Commission (ASIC) for 2012 sales of $1,452m and a total
profit
before tax of $41m.
Overall sales increased marginally compared to last year and exports
grew
(up 9% to $521m) due to a strong performance in pharmaceutical
manufacturing and the opiates division. Despite this strong performance,
overall profits decreased due to one-off costs incurred primarily as a
result
of changes in the Pharmaceutical business.
“The Pharma industry in Australia appears to be in a negative cycle and
GSK’s results are a reflection of an industry trend. The Pharma business
in Australia has seen both decreased sales and lower margins,” said
Geoff
McDonald, General Manager Pharmaceuticals Australia.
In response GSK divested the majority of its Classic Brands (25
non-promoted and genericised products) in Australia to Aspen Global
Incorporated (Aspen) and announced a change to the business focus and
organisational structure of its pharmaceutical division, based in
Melbourne.
“Our pipeline of new medicines has the potential to transform GSK’s
future and as such the divestment of these brands allows us to focus
more
on bringing new medicines to Australian patients,” Geoff McDonald said.
R&D continues to be an important activity for GSK in Australia and
last
year $54m was invested in areas such as clinical trials and poppy crop
improvements.
“The Australian Government has committed to a number of clinical trial
reforms and it is imperative that these are implemented to ensure
Australia
remains competative” Geoff McDonald said.
The Consumer Healthcare division experienced an increase in sales to
$355m. Panadol Osteo continued to show strong growth (up 18%) as did
specialist oral health brands which provided better solutions to
consumers
for gum health, tooth sensitivity, dry mouth and denture care.
GSK Australia also divested non-core over-the-counter (OTC) brands to
Aspen from the Consumer Healthcare division to focus on priority core
brands and products.
“Divesting our non-core Consumer Healthcare OTC products realised
value for shareholders and simplified our business. We have a robust new
product offering coming through and this will continue to grow our
business,” Vincent Cotard, General Manager Consumer Healthcare
Australasia said.
GSK invested $47m in capital across the business with a strong focus on
the pharmaceutical manufacturing and opiates division. Manufacturing in
pharmaceuticals performed strongly with an increase in export sales
following the implementation of operational excellence initiatives that
drove
productivity. There was however, a decrease in sales for Consumer
Healthcare manufacturing following the completion of the toothpaste line
closure announced in 2011.
The Opiates division sales increased following good volume growth due to
steady demand, however issues around market regulation continue to
create uncertainty.
Opiates Divison General Manager, Steve Morris said “Demand for
medicinal poppies continues to expand and we will continue to invest in
both capital and R&D to meet this demand.”
Source: www.gsk.com.au
Property & Assets
Premises : The Subject
operates from premises at the verified heading address
consisting of a administrative office, production facility, laboratory
and
warehouse.
Branches : In addition, the
Subject operates from production facilities and branches
located at:
Level 4, 436 Johnston Street
Abbotsford, VIC 3067
Australia
82 Hughes Avenue
Ermington, NSW 2115
Australia
Tel: +61 2 96840888
Princes Highway
Port Fairy, VIC 3284
Australia
Tel: +61 3 55680222
14 Henry Street
Latrobe, TAS 7307
Australia
Tel: +61 3 64265700
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 43.879
billion
Gross domestic
product - GDP : US$ 1.586
trillion
GPP (Purchasing
power parity) : 954.296 billion
of International dollars
GDP per capita -
current prices : US$ 68,916
GDP - composition
by sector : agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation : 2009:
1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate
: 2009: 5.6%
2010: 5.2%
2011: 5.1%
Public debt
(General
Government gross debt as
a % GDP): 2009:
16.9%
2010: 20.4%
2011: 22.9%
Government bond
ratings : Standard
& Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of
publicly traded
shares: US$1.258
trillion
Largest companies in the country : Commonwealth
Bank (Banking), BHP Billiton (Materials), Westpac Banking Group (Banking), Rio
Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking),
Telstra (Telecommunications)
Trade & Competitiveness Overview
Total exports : US$210.7 billion
Exports
commodities : Coal, iron ore,
gold, meat, wool, alumina, wheat
Total imports : US$187.2 billion
Imports
commodities : Machinery and
transport equipment, computers and office machines,
telecommunication equipment and parts, crude oil and petroleum products
Export - major
partners : Japan 18.9%, China
14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major
partners : China 15.5%, US
12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%,
UK 4.3%, Thailand 4.2%
FDI Inflows : 2008: US$46,843
million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows : 2008: US$33,604
million
2009: US$16,160 million
2010: US$26,431 million
Best countries for
doing business : 10 out of 183 countries
Global
competitiveness ranking : 20 (ranking by country on a basis of 142, the first
is the best)
Country and Population Overview
Total population :
22.23 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as
% of total
population: 76%
Purchase Term
Local : Bank
transfer, D/P, D/A, Credit 30-120 days
International :
L/C, Telegraphic transfer, D/P, D/A, Credit 30-120 days
Sales Term
Local : Bank
transfer, D/P, D/A, Credit 30-120 days
International : L/C,
Telegraphic transfer, D/P, D/A, Credit 30-120 days
Trade Reference/ Payment
Behaviour
Comments : As
local and international trade references were not supplied, the Subject's
payment track
record history cannot be appropriately determined but based
on our research,
payments are believed to be met without delay.
Investigation Note
Sources :
Interviews and material provided by the Subject
: Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.78 |
|
|
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.23 |
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.