MIRA
INFORM REPORT
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Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MARLIN CHEMICALS LTD. |
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Registered Office : |
Marle Place Marle Place Road Brenchley Tonbridge, TN12 7HS |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
01.06.1982 |
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Com. Reg. No.: |
01640117 |
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Legal Form : |
Private Parent |
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Line of Business : |
Importer, Exporter and Distributor of industrial chemicals
and raw materials. |
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No. of Employees : |
14 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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.
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Source
: CIA |
Company name and address
MARLIN CHEMICALS LTD.
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Marle Place Marle Place Road Brenchley Tonbridge, TN12 7HS United Kingdom (Trading Address)
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Business Description
Founded in 1982, Marlin Chemicals Ltd. is an importer,
exporter and distributor of industrial chemicals and raw materials. The company
offers a range of polymerised rosins and acid, alkyd, PVC and hydrogenated
hydrocarbon resins. It also stocks and sells beeswax, carbon black, caustic
soda and polyethylene wax. The company supplies chemical solvents, zinc
resinates and tung oil. It supplies its products to the manufacturers of
adhesives, sealants, paints, surface coatings, varnishes, oils, lubricants,
disinfectants, and plastic and healthcare products. The company operates and
maintains several warehouses and a fleet of vehicles to provide product storage
and delivery services. In addition, it serves the rubber and cosmetics
industries. The company offers chemicals for the production of candles, inks,
emulsifiers, chewing gums, soldering fluxes and industrial cleaning products.
Industry
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Industry |
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ANZSIC 2006: |
3323 -
Industrial and Agricultural Chemical Product Wholesaling |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
|
Name |
Title |
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Martin Blue Macintosh Williams |
Secretary |
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David John Reynolds |
Director |
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Maria Lourdes Diana White |
Director |
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Gerald Barrington Macintosh Williams |
Director |
Financial Summary
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FYE: 30-Jun-2012 |
USD (mil) |
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Registered No.(UK): 01640117
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6313531
2 - Balance Sheet Item Exchange Rate:
USD 1 = GBP 0.6452901
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ANZSIC 2006 Codes: |
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3323 |
- |
Industrial and Agricultural Chemical Product Wholesaling |
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NACE 2002 Codes: |
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5155 |
- |
Wholesale of chemical products |
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NAICS 2002 Codes: |
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4246 |
- |
Chemical and Allied Products Merchant Wholesalers |
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US SIC 1987: |
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516 |
- |
Chemicals and Allied Products |
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UK SIC 2003: |
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5155 |
- |
Wholesale of chemical products |
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UK SIC 2007: |
||
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4675 |
- |
Wholesale of chemical products |
Founded in 1982, Marlin Chemicals Ltd. is an importer,
exporter and distributor of industrial chemicals and raw materials. The company
offers a range of polymerised rosins and acid, alkyd, PVC and hydrogenated
hydrocarbon resins. It also stocks and sells beeswax, carbon black, caustic
soda and polyethylene wax. The company supplies chemical solvents, zinc
resinates and tung oil. It supplies its products to the manufacturers of
adhesives, sealants, paints, surface coatings, varnishes, oils, lubricants,
disinfectants, and plastic and healthcare products. The company operates and
maintains several warehouses and a fleet of vehicles to provide product storage
and delivery services. In addition, it serves the rubber and cosmetics
industries. The company offers chemicals for the production of candles, inks,
emulsifiers, chewing gums, soldering fluxes and industrial cleaning products.
More Business Descriptions
Marlin Chemicals Ltd is an exporter and distributor of industrial
chemicals and raw materials. It serves various markets, such as adhesives and
sealants, cosmetics, disinfectants and cleaners, emulsifiers, effluent
treatment, candles, chewing gum and bit (Updated by OneSource Information
Services)
Chemicals Distribution and Wholesale
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Auditor: |
Creasey Son And Wickenden |
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Bank: |
Lloyds Bank PLC |
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Auditor: |
Creasey Son And Wickenden |
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Auditor History |
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Creasey Son And Wickenden |
30-Jun-2012 |
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Creasey Son And Wickenden |
30-Jun-2011 |
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Creasey Son And Wickenden |
30-Jun-2010 |
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Creasey Son And Wickenden |
30-Jun-2009 |
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Creasey Son And Wickenden |
30-Jun-2008 |
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GBP(mil) |
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Audit Fees: |
0.0 |
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Non Audit Fees: |
0.0 |
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Audit Fiscal Year: |
06-30-2012 |
Corporate
Family
Corporate Structure News:
Total Corporate Family Members: 4
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Tonbridge |
United Kingdom |
Chemical Manufacturing |
43.6 |
14 |
|
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Subsidiary |
Sevenoaks |
United Kingdom |
Chemical Manufacturing |
2.5 |
4 |
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Subsidiary |
Sevenoaks |
United Kingdom |
Chemical Manufacturing |
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2 |
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Subsidiary |
Sevenoaks |
United Kingdom |
Chemical Manufacturing |
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Executives Report
Board of Directors
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Name |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives
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Secretary |
Company Secretary |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 01892 724077 |
Annual Return Date: 19
Oct 2012 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
15 Aug 1946 |
20 Rutland Terrace, |
19 Oct 1991 |
NA |
Current:7 |
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Current |
27 Feb 1937 |
Lyme Building Westmere Drive, Crewe Business Park, |
19 Oct 1991 |
NA |
Current:5 |
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Current |
13 Sep 1955 |
Cherry Garth Shoreham Road, Otford, |
01 Dec 1997 |
NA |
Current:6 |
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Current |
03 Jun 1948 |
Homeleigh Appledore Road, |
01 Jan 1995 |
NA |
Current:6 |
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|
|
Previous |
01 Dec 1936 |
21 Priory Avenue, Chingford, |
19 Oct 1991 |
01 Jul 1996 |
Current:0 |
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|
Previous |
24 Nov 1910 |
Portobello, Brenchley, |
23 Jan 1992 |
31 Jan 1999 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
15 Aug 1946 |
20 Rutland Terrace, |
04 Sep 1996 |
NA |
Current:7 |
|
|
|
Previous |
01 Dec 1936 |
21 Priory Avenue, Chingford, |
19 Oct 1991 |
01 Jul 1996 |
Current:0 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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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 |
|
David Reynolds |
5000 A Ordinary GBP 1.00 |
A Ordinary |
5,000 |
1.00 |
5,000.00 |
2.00 |
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David Reynolds |
4000 Ordinary GBP 1.00 |
Ordinary |
4,000 |
1.00 |
4,000.00 |
1.60 |
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Diana White |
5000 A Ordinary GBP 1.00 |
A Ordinary |
5,000 |
1.00 |
5,000.00 |
2.00 |
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Diana White |
4000 Ordinary GBP 1.00 |
Ordinary |
4,000 |
1.00 |
4,000.00 |
1.60 |
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Gerald Williams |
152000 Ordinary GBP 1.00 |
Ordinary |
152,000 |
1.00 |
152,000.00 |
60.80 |
|
Lindel Williams |
50000 Ordinary GBP 1.00 |
Ordinary |
50,000 |
1.00 |
50,000.00 |
20.00 |
|
Martin Williams |
30000 Ordinary GBP 1.00 |
Ordinary |
30,000 |
1.00 |
30,000.00 |
12.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Annual
Profit & Loss
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period
Average) |
0.631353 |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
No |
|
|
|
|
|
|
|
|
Turnover (UK) |
- |
- |
- |
- |
9.2 |
|
Turnover (Exports) |
- |
- |
- |
- |
0.9 |
|
Total Turnover |
43.6 |
30.5 |
19.4 |
19.5 |
10.1 |
|
Cost of Sales |
40.3 |
27.9 |
17.1 |
17.6 |
9.0 |
|
Gross Profit |
3.3 |
2.5 |
2.3 |
2.0 |
1.0 |
|
Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Other Expenses |
2.3 |
2.0 |
1.8 |
1.7 |
1.3 |
|
Other Income |
0.3 |
0.2 |
0.2 |
0.1 |
0.6 |
|
Interest Paid |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
1.1 |
0.7 |
0.7 |
0.3 |
0.2 |
|
Tax Payable / Credit |
0.2 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.3 |
0.2 |
0.2 |
0.1 |
0.2 |
|
Profit After Taxes |
0.3 |
0.3 |
0.2 |
0.0 |
0.0 |
|
Minority Interests (Profit & Loss) |
-0.3 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Non Audit Fees |
0.0 |
- |
- |
- |
- |
|
Number of Employees |
14 |
14 |
14 |
12 |
11 |
|
Wages |
1.0 |
0.9 |
0.8 |
0.7 |
0.7 |
|
Social Security Costs |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Pension Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees Remuneration |
1.2 |
0.9 |
0.9 |
0.8 |
0.8 |
|
Directors Remuneration |
0.4 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Highest Paid Director |
0.2 |
0.2 |
0.2 |
0.1 |
- |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.64529 |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
1.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.1 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Total Tangible Fixed Assets |
1.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Intangible Assets |
0.0 |
0.0 |
0.1 |
0.2 |
0.1 |
|
Investments |
0.0 |
0.9 |
0.3 |
0.3 |
1.4 |
|
Total Fixed Assets |
1.3 |
1.1 |
0.6 |
0.7 |
1.7 |
|
Stocks |
1.7 |
1.4 |
1.2 |
- |
- |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Stocks Work In Progress |
1.7 |
1.4 |
1.2 |
1.3 |
1.3 |
|
Trade Debtors |
10.0 |
8.4 |
6.8 |
3.7 |
1.9 |
|
Inter-Company Debtors |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Other Debtors |
0.7 |
1.0 |
0.4 |
0.4 |
0.3 |
|
Total Debtors |
10.7 |
9.5 |
7.2 |
4.2 |
2.3 |
|
Cash and Equivalents |
0.7 |
0.6 |
0.4 |
0.9 |
0.1 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
13.2 |
11.5 |
8.7 |
6.4 |
3.8 |
|
Total Assets |
14.5 |
12.6 |
9.3 |
7.1 |
5.5 |
|
Trade Creditors |
2.9 |
3.1 |
2.1 |
2.1 |
1.5 |
|
Bank Overdraft |
1.1 |
0.2 |
0.2 |
0.4 |
0.2 |
|
Inter-Company Creditors |
- |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Short Term Loans |
0.0 |
0.2 |
- |
- |
- |
|
Accruals/Deferred Income (Current Liability) |
0.7 |
0.6 |
0.8 |
0.8 |
0.6 |
|
Social Security/VAT |
0.3 |
0.5 |
0.3 |
0.2 |
0.3 |
|
Corporation Tax |
0.2 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Other Current Liabilities |
4.9 |
4.2 |
2.8 |
0.8 |
0.9 |
|
Total Current Liabilities |
10.2 |
9.0 |
6.3 |
4.4 |
3.6 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
- |
- |
- |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
0.5 |
0.4 |
0.3 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
- |
- |
- |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.2 |
0.2 |
0.2 |
0.2 |
0.0 |
|
Total Long Term Liabilities |
0.7 |
0.7 |
0.5 |
0.3 |
0.1 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
0.4 |
0.4 |
0.4 |
0.4 |
0.5 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
1.9 |
1.7 |
1.4 |
1.3 |
1.1 |
|
Other Reserves |
0.3 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Minority Interests (Balance Sheet) |
-0.8 |
-0.7 |
-0.6 |
-0.6 |
0.0 |
|
Total Shareholders Funds |
2.7 |
2.3 |
1.9 |
1.8 |
1.7 |
|
Net Worth |
2.7 |
2.3 |
1.8 |
1.6 |
1.6 |
Annual
Cash Flows
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period
Average) |
0.631353 |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
-0.9 |
-0.1 |
-2.4 |
1.5 |
- |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.4 |
-0.2 |
-0.1 |
-0.1 |
- |
|
Taxation |
-0.2 |
-0.2 |
-0.1 |
-0.1 |
- |
|
Capital Expenditures |
0.0 |
-0.6 |
-0.1 |
0.0 |
- |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Paid Up Equity |
-0.3 |
-0.2 |
-0.2 |
-0.1 |
- |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Net Cash Flow From Financing |
-0.1 |
0.3 |
0.4 |
0.0 |
- |
|
Increase in Cash |
-1.8 |
-0.9 |
-2.5 |
1.0 |
- |
Annual
Ratios
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.64529 |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.29 |
1.28 |
1.39 |
1.46 |
1.04 |
|
Liquidity Ratio |
1.12 |
1.13 |
1.21 |
1.16 |
0.68 |
|
Stock Turnover |
24.69 |
22.37 |
15.94 |
15.12 |
7.76 |
|
Credit Period (Days) |
85.89 |
99.96 |
134.90 |
67.58 |
70.45 |
|
Working Capital by Sales |
7.00% |
8.18% |
13.31% |
10.07% |
1.40% |
|
Trade Credit by Debtors |
0.29 |
0.37 |
0.31 |
0.57 |
0.78 |
|
Return on Capital |
24.24% |
18.27% |
20.44% |
12.55% |
13.02% |
|
Return on Assets |
7.16% |
5.27% |
6.62% |
4.80% |
4.34% |
|
Profit Margin |
2.43% |
2.16% |
3.35% |
1.69% |
2.37% |
|
Return on Shareholders Funds |
38.98% |
29.39% |
33.25% |
18.61% |
13.65% |
|
Borrowing Ratio |
63.10% |
36.59% |
27.54% |
22.52% |
20.63% |
|
Equity Gearing |
18.38% |
17.94% |
19.93% |
25.76% |
31.81% |
|
Debt Gearing |
19.30% |
19.68% |
16.90% |
0.56% |
5.09% |
|
Interest Coverage |
5.21 |
4.67 |
10.61 |
3.38 |
2.28 |
|
Sales by Tangible Assets |
33.26 |
115.25 |
86.16 |
124.08 |
42.07 |
|
Average Remuneration per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Profit per Employee |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
3.0 |
2.2 |
1.3 |
1.7 |
0.9 |
|
Capital Employed per Employee |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Tangible Assets per Employee |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
1.0 |
0.9 |
0.7 |
0.6 |
0.5 |
|
Employee Remuneration by Sales |
2.66% |
3.11% |
4.80% |
4.14% |
7.78% |
|
Creditor Days (Cost of Sales Based) |
27.02 |
40.43 |
46.92 |
42.83 |
61.06 |
|
Creditor Days (Sales Based) |
25.00 |
37.06 |
41.26 |
38.51 |
54.93 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.85 |
|
|
1 |
Rs.92.30 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.