|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALION SCIENCE AND TECHNOLOGY CORPORATION |
|
|
|
|
Registered Office : |
1750 Tysons Boulevard, Suite 1300, McLean, VA 22102 |
|
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|
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Country : |
United States |
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Date of Incorporation : |
10.10.2001 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject provides scientific, engineering, and information technology solutions for problems relating to national defense, homeland security, energy, and the environment primarily in the United States. The company offers technical expertise for ship and systems design. |
|
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No. of Employees : |
2,684 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
|
Without
Financials |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $48,100. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices increased another 50% between 2006 and 2008. In 2008, soaring oil prices threatened inflation and caused a deterioration in the US merchandise trade deficit, which peaked at $840 billion. In 2009, with the global recession deepening, oil prices dropped 40% and the US trade deficit shrank, as US domestic demand declined, but in 2011 the trade deficit ramped back up to $803 billion, as oil prices climbed once more. The global economic downturn, the sub-prime mortgage crisis, investment bank failures, falling home prices, and tight credit pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP; total government revenues from taxes and other sources are lower, as a percentage of GDP, than that of most other developed countries. The wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the US budget deficit and public debt - through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform bill that will extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. Long-term problems include inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, sizable current account and budget deficits - including significant budget shortages for state governments - energy shortages, and stagnation of wages for lower-income families.
Source
: CIA
Company name: ALION SCIENCE AND TECHNOLOGY CORPORATION
Address: 1750
Tysons Boulevard, Suite 1300, McLean, VA 22102 - USA
Telephone: +1
703-918-4480
Fax: +1 703-714-6511
Website: www.alionscience.com
Corporate ID#: 3444444
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 10-10-2001
Stock: 8,000,000 shares (6,611,090 shares issued as
of 02-13-2013)
Value: No
par value
Name of manager: Bahman
ATEFI
Business:
Alion Science and Technology Corporation provides scientific, engineering,
and information technology solutions for problems relating to national defense,
homeland security, energy, and the environment primarily in the United States.
The company offers technical expertise for ship and systems design.
It is involved from the initial phase of mission analysis and
feasibility trade-off studies through contract and detailed design; and offers
production supervision, testing, delivery, and life-cycle engineering support
to commercial and naval markets.
The company also performs military and policy analyses; assess logistics
management readiness and operational support training; and analyzes critical
infrastructure risks for the department of defense.
In addition, it develops modeling and simulation tools to support integration
and federation of stand-alone simulator-based training and large scale
distributed training events; designs and conducts strategic and operations
analytic war games; develop phenomenological models; develops multi-dimensional
visualization files; maintains a threat generation library to support
world-wide air force and joint training and mission rehearsal operations;
provides modeling and simulation; and performs comprehensive engineering
analyses.
Further, the company provides services and technologies to government
and commercial customers to reduce cost, enhance performance and safety of
complex systems, and improve information flow across networks and
organizations.
It serves the United States department of defense, state and foreign
governments, and other commercial customers.
The company was founded in 2001 and is headquartered in McLean,
Virginia.
On February 25, 2013, The Air Force has awarded a $183 million,
three-year contract modification to Alion Science and Technology Corp., to
provide lifecycle acquisition support to the Assistant Secretary of the Air
Force (Acquisition) and the F-35 Lightning II Joint Program Management Office.
This work will allow for greater continuity across the spectrum of Air
Force and F-35 acquisition operations. Alion will provide requirements
analysis, acquisition strategy and program execution support under the
Secretary of the Air Force Technical and Analytical Support (SAFTAS) contract.
This support ranges from database and enterprise architecture development to
modeling and simulation and test and evaluation support to complement Air Force
expertise. The work supports weapons systems, including the KC-46, C-17, F-22,
F-35, Small Diameter Bomb, the Global Hawk and the Predator unmanned aerial
vehicle. The SAFTAS Team also provides technical and architectural support to
help the Air Force Chief Information Officer develop an acquisition enterprise
architecture.
The contract runs from January 1, 2013 to December 31, 2015.
EIN: 54-2061691
Staff: 2,684
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
The company maintains a
branch located:
4300 King Street, Ste 101
Alexandria, VA 22302
Ph: 703-418-0100
Fx: 703-933-6774
Shareholders:
This Company is wholly
owned by an “Employee Stock Ownership Plan”.
Management:
Bahman ATEFI is the President and CEO.
Dr. Bahman Atefi serves as the President at Alion Science and Technology
Corp. He has been its Chief Executive Officer since December 2001.
Dr. Atefi is also the Chairman of the firm and has been its Director
since 2001 and is the Chairman of ESOP Committee. He has over 20 years of
experience working for leading international research and development
companies, predominately serving the U.S. government. Dr. Atefi served as the
President of IITRI from August 1997 and its Chief Executive Officer from
October 2000 to December 20, 2002, the closing date of the Transaction.
From June 1994 to August 1997, he was a Manager of the Energy and Environmental
Group at Science Applications International Corporation.
In this capacity, Dr. Atefi was responsible for operation of a
600-person business unit, with annual revenues in 1997 of approximately $80
million, which provided scientific and engineering support to the U.S.
Department of Energy, Nuclear Regulatory Commission, Environmental Protection
Agency, U.S. Department of Defense, as well as commercial and international
customers.
He has also been the Chairman of Board of Directors of Human Factors
Applications Inc. since February 1999. Dr. Atefi is a Member of Strategic
Advisory Board of Relativity Capital, LLC.
He is a Member of Board of Trustees of the Illinois Institute of
Technology.
Dr. Atefi holds a B.S. in Electrical Engineering from Cornell
University, a Masters degree in Nuclear Engineering, and a Doctor of Science in
Nuclear Engineering from the Massachusetts Institute of Technology.
Stacy MENDLER is the COO
Barry BROADUS is the CFO.
Subsidiaries
And partnership:
|
1. |
Innovative Technology Solutions Corporation, incorporated in the State
of New Mexico, |
|
2. |
Alion-IPS Corporation, incorporated in the Commonwealth of Virginia, |
|
3. |
Alion-METI Corporation, incorporated in the Commonwealth of Virginia, |
|
4. |
Alion-CATI Corporation, incorporated in the State of California, |
|
5. |
Alion-JJMA Corporation, incorporated in the State of New York, |
|
6. |
Alion International Corporation, incorporated in the State of
Delaware, |
|
7. |
Alion Offshore Services, Inc., incorporated in the State of Delaware |
|
8. |
Alion India Corporation, incorporated in the State of Delaware |
|
9. |
Alion Science and Technology (Canada) Corporation, incorporated in the
Province of Nova Scotia, |
|
10. |
Alion-BMH Corporation, incorporated in the Commonwealth of Virginia, |
|
11. |
Washington Consulting, Inc., incorporated in the Commonwealth of
Virginia, |
|
12. |
Alion-MA&D Corporation, incorporated in the State of Colorado, and
|
|
13. |
Washington Consulting Government Services, Inc., incorporated in the
Commonwealth of Virginia. |
On attachment:
- 10K 2012 (fiscal year
ending September 2012)
- 1st 10Q
2012/2013
Fiscal year 2012 revenue was USD 817 million,
a 3.8% increase over our fiscal year 2011 revenue of USD 787 million.
On February 25, 2013, Alion Science and Technology Corp. announced it is
just starting the process of refinancing its more than $600 million in debt
before it comes due in 2014 and 2015. The company announced that it has hired
Goldman, Sachs & Co. and Wells Fargo & Co. to help it refinance its
debt. Alion has a $35 million revolving credit facility, $326.5 million in 12%
senior secured notes due Nov. 1, 2014, and $245 million in 10.25% senior
unsecured notes due Feb. 1, 2015. The revolver, with Credit Suisse Group as the
administrative agent, matures on Aug. 22, 2014. The minimum interest rate is
8.5%. The company hasn't drawn down on its revolver since May.
Alion must refinance its debt or it will need to pay out more than $600
million over a three-month period. Alion doesn't believe it will be able to
repay the maturing debt from the cash flow produced through its current
operations. The company's 12% senior secured notes are trading between 99.5 and
103. Pacific Investment Management Co. LLC held 13% of the company's senior
secured notes as of Jan. 31. But Alion's 10.25% senior unsecured notes, which
mature later, are trading between 52.15 and 55.25.
Banks: State Street Bank
Legal filings & complaints:
As of today date, there are several legal filing pending with various
Courts.
Secured debts summary (UCC):
File number:
09-08-28-7104-9
Date filed: 08-28-2009
Secured Party: CIT
Technology Financing and Services, Inc.
1020
Centurion Parkway N., Jacksonville, FL 32256
Trade references:
Date reported: March 2013
High credit: USD 60,000+
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Office supply
Paying status: On terms
Date reported: March 2013
High credit: USD 3,000,000+
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Payroll
Paying status: As agreed
Date reported: March 2013
High credit: USD 1,200
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
In the past 6 months, we noted a net increase in delays of payments
International credit history:
Payments of imports are currently made with an average of 5 to 10 days
beyond terms.
Other comments:
The Company is developing a
strong business but the cash is low.
The bank confirmed late
payments.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
October 1, 2012.
The risk is medium.
Our opinion:
A business connection may
be conducted but we suggest you to check regularly the way of payments.
Standard & Poor’s
|
United
States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks,
Rising Debt Burden; Outlook Negative |
|
Publication
date: 05-Aug-2011 20:13:14 EST |
·
We have also removed both the short- and long-term ratings
from CreditWatch negative.
·
The downgrade reflects our opinion that the fiscal
consolidation plan that Congress and the Administration recently agreed to
falls short of what, in our view, would be necessary to stabilize the
government's medium-term debt dynamics.
·
More broadly, the downgrade reflects our view that the
effectiveness, stability, and predictability of American policymaking and
political institutions have weakened at a time of ongoing fiscal and economic
challenges to a degree more than we envisioned when we assigned a negative
outlook to the rating on April 18, 2011.
·
Since then, we have changed our view of the difficulties in
bridging the gulf between the political parties over fiscal policy, which makes
us pessimistic about the capacity of Congress and the Administration to be able
to leverage their agreement this week into a broader fiscal consolidation plan
that stabilizes the government's debt dynamics any time soon.
·
The outlook on the long-term rating is negative. We could
lower the long-term rating to 'AA' within the next two years if we see that
less reduction in spending than agreed to, higher interest rates, or new fiscal
pressures during the period result in a higher general government debt
trajectory than we currently assume in our base case.
TORONTO (Standard &
Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it
lowered its long-term sovereign credit rating on the United States of America
to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the
long-term rating is negative. At the same time, Standard & Poor's affirmed
its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's
removed both ratings from CreditWatch, where they were placed on July 14, 2011,
with negative implications.
The
transfer and convertibility (T&C) assessment of the U.S.--our assessment of
the likelihood of official interference in the ability of U.S.-based public-
and private-sector issuers to secure foreign exchange for
debt service--remains
'AAA'.
We lowered our long-term rating
on the U.S. because we believe that the prolonged controversy over raising the
statutory debt ceiling and the related fiscal policy debate indicate that
further near-term progress containing the growth in public spending, especially
on entitlements, or on reaching an agreement on raising revenues is less likely
than we previously assumed and will remain a contentious and fitful process. We
also believe that the fiscal consolidation plan that Congress and the
Administration agreed to this week falls short of the amount that we believe is
necessary to stabilize the general government debt burden by the middle of the
decade.
Our lowering of the
rating was prompted by our view on the rising public debt burden and our
perception of greater policymaking uncertainty, consistent with our criteria
(see "Sovereign Government Rating Methodology and
Assumptions ," June 30, 2011, especially Paragraphs 36-41).
Nevertheless, we view the U.S. federal government's other economic, external,
and monetary credit attributes, which form the basis for the sovereign rating,
as broadly unchanged.
We have taken the ratings
off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment
of 2011 has removed any perceived immediate threat of payment default posed by
delays to raising the government's debt ceiling. In addition, we believe that
the act provides sufficient clarity to allow us to evaluate the likely course
of U.S. fiscal policy for the next few years.
The
political brinksmanship of recent months highlights what we see as America's
governance and policymaking becoming less stable, less effective, and less
predictable than what we previously believed. The statutory debt ceiling and
the threat of default have become political bargaining chips in the debate over
fiscal policy. Despite this year's wide-ranging debate, in our view, the
differences between political parties have proven to be extraordinarily
difficult to bridge, and, as we see it, the resulting agreement fell well short
of the comprehensive fiscal consolidation program that some proponents had
envisaged until quite recently. Republicans and Democrats have only been able
to agree to relatively modest savings on discretionary spending while
delegating to the Select Committee decisions on more comprehensive measures. It
appears that for now, new revenues have dropped down on the menu of policy
options. In addition, the plan envisions only minor policy changes on Medicare
and little change in other entitlements,
the containment of which
we and most other independent observers regard as key to long-term fiscal
sustainability.
Our opinion is that
elected officials remain wary of tackling the structural issues required to
effectively address the rising U.S. public debt burden in a manner consistent
with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and
Assumptions," June 30, 2011, especially Paragraphs 36-41). In
our view, the difficulty in framing a consensus on fiscal policy weakens the
government's ability to manage public finances and diverts attention from the
debate over how to achieve more balanced and dynamic economic growth in an era
of fiscal stringency and private-sector deleveraging (ibid). A new political
consensus might (or might not) emerge after the 2012 elections, but we believe
that by then, the government debt burden will likely be higher, the needed
medium-term fiscal adjustment potentially greater, and the inflection point on
the U.S. population's demographics and other age-related spending drivers
closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely
Cost Even More Green, Now," June 21, 2011).
Standard & Poor's
takes no position on the mix of spending and revenue measures that Congress and
the Administration might conclude is appropriate for putting the U.S.'s
finances on a sustainable footing.
The act calls for as much
as $2.4 trillion of reductions in expenditure growth over the 10 years through 2021.
These cuts will be implemented in two steps: the $917 billion agreed to
initially, followed by an additional $1.5 trillion that the newly formed
Congressional Joint Select Committee on Deficit Reduction is supposed to
recommend by November 2011. The act contains no measures to raise taxes or
otherwise enhance revenues, though the committee could recommend them.
The act further provides
that if Congress does not enact the committee's recommendations, cuts of $1.2
trillion will be implemented over the same time period. The reductions would
mainly affect outlays for civilian discretionary spending, defense, and
Medicare. We understand that this fall-back mechanism is designed to encourage
Congress to embrace a more balanced mix of expenditure savings, as the
committee might recommend.
We note that in a letter
to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated
total budgetary savings under the act to be at least $2.1 trillion over the
next 10 years relative to its baseline assumptions. In updating our own fiscal
projections, with certain modifications outlined below, we have relied on the
CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to
include the CBO assumptions contained in its Aug. 1 letter to Congress. In general,
the CBO's "Alternate Fiscal Scenario" assumes a continuation of
recent Congressional action overriding existing law.
We view the act's
measures as a step toward fiscal consolidation. However, this is within the
framework of a legislative mechanism that leaves open the details of what is
finally agreed to until the end of 2011, and Congress and the Administration
could modify any agreement in the future. Even assuming that at least $2.1
trillion of the spending reductions the act envisages are implemented, we
maintain our view that the U.S. net general government debt burden (all levels
of government combined, excluding liquid financial assets) will likely continue
to grow. Under our revised base case fiscal scenario--which we consider to be
consistent with a 'AA+' long-term rating and a negative outlook--we now project
that net general government debt would rise from an estimated 74% of GDP by the
end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of
sovereign indebtedness is high in relation to those of peer credits and, as
noted, would continue to rise under the act's revised policy settings.
Compared with previous
projections, our revised base case scenario now assumes that the 2001 and 2003
tax cuts, due to expire by the end of 2012, remain in place. We have changed
our assumption on this because the majority of Republicans in Congress continue
to resist any measure that would raise revenues, a position we believe Congress
reinforced by passing the act. Key macroeconomic assumptions in the base case
scenario include trend real GDP growth of 3% and consumer price inflation near
2% annually over the decade.
Our revised upside
scenario--which, other things being equal, we view as consistent with the
outlook on the 'AA+' long-term rating being revised to stable--retains these
same macroeconomic assumptions. In addition, it incorporates $950 billion of
new revenues on the assumption that the 2001 and 2003 tax cuts for high earners
lapse from 2013 onwards, as the Administration is advocating. In this scenario,
we project that the net general government debt would rise from an estimated
74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
Our revised downside
scenario--which, other things being equal, we view as being consistent with a
possible further downgrade to a 'AA' long-term rating--features less-favorable
macroeconomic assumptions, as outlined below and also assumes that the second
round of spending cuts (at least $1.2 trillion) that the act calls for does not
occur. This scenario also assumes somewhat higher nominal interest rates for
U.S. Treasuries. We still believe that the role of the U.S. dollar as the key
reserve currency confers a government funding advantage, one that could change
only slowly over time, and that Fed policy might lean toward continued loose
monetary policy at a time of fiscal tightening. Nonetheless, it is possible
that interest rates could rise if investors re-price relative risks. As a
result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in
10-year bond yields relative to the base and upside cases from 2013 onwards. In
this scenario, we project the net public debt burden would rise from 74% of GDP
in 2011 to 90% in 2015 and to 101% by 2021.
Our revised scenarios
also take into account the significant negative revisions to historical GDP
data that the Bureau of Economic Analysis announced on July 29. From our
perspective, the effect of these revisions underscores two related points when
evaluating the likely debt trajectory of the U.S. government. First, the
revisions show that the recent recession was deeper than previously assumed, so
the GDP this year is lower than previously thought in both nominal and real
terms. Consequently, the debt burden is slightly higher. Second, the revised
data highlight the sub-par path of the current economic recovery when compared
with rebounds following previous post-war recessions. We believe the sluggish
pace of the current economic recovery could be consistent with the experiences
of countries that have had financial crises in which the slow process of debt
deleveraging in the private sector leads to a persistent drag on demand. As a
result, our downside case scenario assumes relatively modest real trend GDP
growth of 2.5% and inflation of near 1.5% annually going forward.
When comparing the U.S.
to sovereigns with 'AAA' long-term ratings that we view as relevant
peers--Canada, France, Germany, and the U.K.--we also observe, based on our
base case scenarios for each, that the trajectory of the U.S.'s net public debt
is diverging from the others. Including the U.S., we estimate that these five
sovereigns will have net general government debt to GDP ratios this year
ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%.
By 2015, we project that their net public debt to GDP ratios will range between
30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at
79%. However, in contrast with the U.S., we project that the net public debt
burdens of these other sovereigns will begin to decline, either before or by
2015.
Standard & Poor's
transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment
reflects our view of the likelihood of the sovereign restricting other public
and private issuers' access to foreign exchange needed to meet debt service.
Although in our view the credit standing of the U.S. government has
deteriorated modestly, we see little indication that official interference of
this kind is entering onto the policy agenda of either Congress or the
Administration. Consequently, we continue to view this risk as being highly
remote.
The outlook on the
long-term rating is negative. As our downside alternate fiscal scenario
illustrates, a higher public debt trajectory than we currently assume could
lead us to lower the long-term rating again. On the other hand, as our upside
scenario highlights, if the recommendations of the Congressional Joint Select
Committee on Deficit Reduction--independently or coupled with other
initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high
earners--lead to fiscal consolidation measures beyond the minimum mandated, and
we believe they are likely to slow the deterioration of the government's debt
dynamics, the long-term rating could stabilize at 'AA+'.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.