MIRA INFORM REPORT
|
Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARESA S.P.A. |
|
|
|
|
Registered Office : |
Via Romea, 655, 47522 - Cesena (FO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
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|
Date of Incorporation : |
04.07.1994 |
|
|
|
|
Com. Reg. No.: |
FO-2001-5455 of since 20/02/2001 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of structural metal products |
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|
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|
No. of Employees : |
201 to 250 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
No Complaints |
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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) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
italy ECONOMIC OVERVIEW
Italy has a diversified
industrial economy, which is divided into a developed industrial north,
dominated by private companies, and a less-developed, highly subsidized,
agricultural south, where unemployment is high. The Italian economy is driven
in large part by the manufacture of high-quality consumer goods produced by
small and medium-sized enterprises, many of them family-owned. Italy also has a
sizable underground economy, which by some estimates accounts for as much as
17% of GDP. These activities are most common within the agriculture,
construction, and service sectors. Italy is the third-largest economy in the
euro-zone, but its exceptionally high public debt and structural impediments to
growth have rendered it vulnerable to scrutiny by financial markets. Public
debt has increased steadily since 2007, topping 126% of GDP in 2012, and
investor concerns about the broader euro-zone crisis at times have caused
borrowing costs on sovereign government debt to rise to euro-era. During the
second half of 2011 the government passed three austerity packages to reduce
its budget deficit and help bring down borrowing costs. These measures included
a hike in the value-added tax, pension reforms, and cuts to public
administration. The government also faces pressure from investors and European
partners to sustain its recent efforts to address Italy's long-standing
structural impediments to growth, such as labor market inefficiencies and
widespread tax evasion. In 2012 economic growth and labor market conditions
deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with
youth unemployment around 35%. The government has undertaken several reform
initiatives designed to increase long-term economic growth. Italy's GDP is now
7% below its 2007 pre-crisis level.
|
Source : CIA |
Company name & address
Paresa S.p.a.
Via Romea, 655
47522 - Cesena (FO) -IT-
Summary
|
Fiscal Code |
: |
04213380373 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
11/10/1995 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 201 to 250 |
Activity
Manufacture of structural metal products
Manufacture of metal tanks, reservoirs,
radiators and containers
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 04213380373 |
|
Foreign Trade Reg. no. : FO018405 since
29/03/2006 |
|
Chamber of Commerce no. : 355588 of since
27/10/1994 until 24/11/2000 |
|
Chamber of Commerce no. : 261233 of since
02/11/1995 |
|
Firms' Register : BO006-64720 of since 19/02/1996 |
|
Firms' Register : FO-2001-5455 of since
20/02/2001 |
|
V.A.T. Code : 03191980402 |
|
Foundation date |
: 04/07/1994 |
|
|
Establishment date |
: 04/07/1994 |
|
|
Start of Activities |
: 11/10/1995 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 5.000.000 |
|
|
Subscribed Capital |
: 5.000.000 |
|
|
Paid up Capital |
: 5.000.000 |
|
Members
|
|
Pricewaterhousecoopers
S.p.a. In Breve |
Pwc |
|
|
|
|
|
Residence: |
|
Monte Rosa |
, 91 |
- 20149 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditor |
04/04/2013 |
|
|
|
|
Cedioli |
Raffaele |
|
|
|
Born in Cesena |
(FO) |
on 08/10/1966 |
- Fiscal Code : CDLRFL66R08C573A |
|
|
|
Residence: |
|
Cerchia Di S.egidio |
, 2423 |
- 47023 |
Cesena |
(FO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Technical Manager |
|
|
|
|
|
Ballatore |
Tommaso |
|
|
|
Born in Pantelleria |
(TP) |
on 20/09/1952 |
- Fiscal Code : BLLTMS52P20G315O |
|
|
|
Residence: |
|
Giuseppe Verdi |
, 111 |
- 60019 |
Senigallia |
(AN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Institor |
26/11/2007 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Cavicchi |
Gaetano |
|
|
|
Born in Cento |
(FE) |
on 17/03/1954 |
- Fiscal Code : CVCGTN54C17C469M |
|
|
|
Residence: |
|
Biancolina |
, 1/E |
- 40017 |
San Giovanni in Persiceto |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
31/05/2010 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Palladino |
Alberto |
|
|
|
Born in Pavia |
(PV) |
on 12/11/1936 |
- Fiscal Code : PLLLRT36S12G388X |
|
|
|
Residence: |
|
Settecrociari |
, 3989 |
- 47023 |
Cesena |
(FO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
04/04/2013 |
|
|
|
Technical Manager |
|
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
Companies connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
|
Palladino |
Alberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
PARESA - S.P.A. |
Roncofreddo (FO) - IT - |
00744500406 |
Technical
Manager |
Withdrawn |
Registered |
|
Paresa Real Estate S.r.l. |
Cesena (FO) - IT - |
03831600402 |
Sole Director |
Withdrawn |
Registered |
|
Ayrion S.p.a. |
Cesena (FO) - IT - |
03974570404 |
Director |
Active |
Registered |
The indication "REGISTERED" as
Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise
to request further investigations.
Capital Shareholders
Shareholders'
list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Palladino Alberto |
Cesena - IT - |
PLLLRT36S12G388X |
2.900.000 .Eur |
58,00 |
|
Palladino Lorenza |
Cesena - IT - |
PLLLNZ66S42H501G |
750.000 .Eur |
15,00 |
|
Palladino Marco |
Cesena - IT - |
PLLMRC70M07A944W |
750.000 .Eur |
15,00 |
|
D.a. Realty Srl |
|
03838750408 |
600.000 .Eur |
12,00 |
Direct Participations
The
Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Paresa Real Estate S.r.l. |
Cesena - IT - |
03831600402 |
100.000 .Eur |
100,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
since 04/07/1994 |
|
|
|
|
|
|
Romea |
, 655 |
- 47023 |
- Cesena |
(FO) |
- IT - |
|
|
|
|
PHONE |
: 0547609411 |
|
- |
Branch |
(Factory) |
since 11/10/1995 |
until 24/11/2000 |
|
|
|
|
|
|
Del Savio |
, 155 |
- 47020 |
- Roncofreddo |
(FO) |
- IT - |
|
- |
Branch |
(Yard) |
since 20/04/2011 |
|
|
|
|
|
Uitbreidingstraat |
, 84 |
- 02600 |
- Berchem, Antwerp |
(EE) |
- BE - |
|
- |
Branch |
(Yard) |
since 03/12/2007 |
|
|
|
|
|
Lagja Lef Sallata, |
, Loc: RRUGA SADIK ZOTAJ |
- Vlore |
(EE) |
- AL - |
|
- |
Branch |
(Yard) |
since 04/03/2008 |
|
|
|
|
|
P.o. Box 381 Dammam 31411 |
- Kingdom Of Saudi Arabia |
(EE) |
- SA - |
|
- |
Branch |
(Yard) |
since 28/01/2010 |
|
|
|
|
|
Rue De Timgad Hydra |
, 11 |
- 16405 |
- Alger |
(EE) |
- DZ - |
|
- |
Branch |
(Yard) |
since 03/12/2007 |
|
|
|
|
|
74 Rue Jean Jores |
- Casablanca |
(EE) |
- MA - |
|
|
|
|
Employees |
: 206 |
|
Fittings and Equipment for a value of
2.700.000 |
Eur |
|
Stocks for a value of 31.410.000 |
Eur |
|
Work in progress for a value of 30.490.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
Transports are mainly done using own
vehicles and third parties ones
The company sells mainly to converting
industries.
|
|
Purchase terms: 60-90-120 days.
Payments are settled by cash order and
drafts.
Historical Information and/or
Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
21/12/1994 |
EX-MEMBERS /
EX-POSITIONS:
|
|
Palladino |
Alberto |
|
|
|
Born in Pavia |
(PV) |
on 12/11/1936 |
- Fiscal Code : PLLLRT36S12G388X |
|
|
|
Residence: |
|
Settecrociari |
, 3989 |
- 47023 |
Cesena |
(FO) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Technical Manager |
|
Person in charge |
|
|
Andriani |
Antonio |
|
|
|
Born in Taranto |
(TA) |
on 17/04/1950 |
- Fiscal Code : NDRNTN50D17L049Q |
|
|
|
Residence: |
|
Della Vittoria |
, 10 |
- 60036 |
Montecarotto |
(AN) |
- IT - |
|
Ex-Postions |
|
Attorney with special power |
|
|
Godoli |
Federica |
|
|
|
Born in Bologna |
(BO) |
on 16/03/1970 |
- Fiscal Code : GDLFRC70C56A944J |
|
|
|
Residence: |
|
Valle Di Preda |
, 13 |
- 40135 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Godoli |
Maurizio |
|
|
|
Born in Forli' |
(FO) |
on 04/06/1941 |
- Fiscal Code : GDLMRZ41H04D704C |
|
|
|
Residence: |
|
Valle Di Preda |
, 13 |
- 40135 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Pugliese |
Walter |
|
|
|
Born in Alessandria |
(AL) |
on 14/03/1967 |
- Fiscal Code : PGLWTR67C14A182M |
|
|
|
Residence: |
|
Boschetti |
, 1 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Godoli |
Luciano Leonello |
|
|
|
Born in Bologna |
(BO) |
on 16/10/1967 |
- Fiscal Code : GDLLNL67R16A944O |
|
|
|
Residence: |
|
Valle Di Preda |
, 13 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Della Casa |
Carlo |
|
|
|
Born in Bologna |
(BO) |
on 28/08/1941 |
- Fiscal Code : DLLCRL41M28A944W |
|
|
|
Residence: |
|
Martiri Di Pizzocalvo |
, 107 |
- 40068 |
San Lazzaro di Savena |
(BO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Foschini |
Fabrizio |
|
|
|
Born in Russi |
(RA) |
on 11/11/1957 |
- Fiscal Code : FSCFRZ57S11H642I |
|
|
|
Residence: |
|
Pontebuco |
, 56 |
- 40068 |
San Lazzaro di Savena |
(BO) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
Temporary Auditor |
|
|
Gatti |
Carla |
|
|
|
Born in Bologna |
(BO) |
on 08/11/1958 |
- Fiscal Code : GTTCRL58S48A944D |
|
|
|
Residence: |
|
Solferino |
, 7 |
- 20121 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Splitting-up
project and setting-up of new co |
|
|
|
Date |
Merging/Splitting-up Project-New Company: |
24/09/2001 |
|
|
Splitting-up
project and setting-up of new co |
|
|
|
Date |
Merging/Splitting-up Project-New Company: |
14/06/2007 |
|
|
Splitting-up and
setting-up of a new company |
|
|
|
|
|
|
|
|
Padre Vicinio Da Sarsina |
, 42 |
, 47521 |
, Cesena |
(FO) |
- IT - |
|
|
|
Fiscal Code: 03691100402 |
|
|
|
Date |
Splitting-up: |
19/10/2007 |
|
|
The firm took
over the activity of |
|
|
|
|
|
|
|
, 30037 |
, Scorze' |
(VE) |
- IT - |
|
|
|
Fiscal Code: 03011370271 |
|
|
|
Date |
: |
23/01/2003 |
Protests
Protests checking on the subject firm has
given a negative result.
Data Base Prejudicial Events Search
Search performed on a National Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial and Economical Analysis
Company's starting of activities dates back
to 1995.
The analysis is based on the latest 3
balance sheets.
Under an economic point of view, profits
were registered during the last years with a r.o.e. of 7,68% in 2011 with a
stable trend in the turnover.
The return on Investment in the last
financial year was positive (3,7%) and in line with the sector's average.
The amount of the operating result for the
year 2011 is of Eur. 2.854.318 on stable levels if compared to the previous
year.
The economic management produced a gross
operating margin of Eur. 4.363.729 , stable if compared to the year before.
The financial position is not well balanced
as the volume of debts is fairly remarkable if compared to shareholder's
equity, in fact total debts are 5,09 increasing as against 2010.
The equity capital is equal to Eur.
10.611.615 on stable levels.
Total indebtedness was equal to Eur.
65.977.519 (Eur. 3.747.000 was the value of m/l term debts) showing a stable
trend as opposed to 2010 (Eur. 58.132.639).
Moderate recourse to bank credit while the
exposure towards suppliers is rather high but lined up with the field's
average.
Liquidity is not excellent.
As far as the collection of credit goes, the
average is high (159,18 days). even higher than the average of the specific
sector.
2011 financial year closed with a cash flow
of Eur. 2.264.179
Labour cost amounts to Eur. 18.663.576, with
a 38,28% incidence on production costs. , with a 48,65% incidence on turnover.
If compared to the sales volume (-0,4%), the
impact of the financial charges is limited.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
38.363.786 |
|
Profit (Loss) for the period |
814.768 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
36.411.713 |
|
Profit (Loss) for the period |
1.406.461 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
53.737.415 |
|
Profit (Loss) for the period |
1.084.153 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
57.369.588 |
|
Profit (Loss) for the period |
1.006.636 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
38.455.892 |
|
Profit (Loss) for the period |
397.383 |
Balance Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet
as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as
at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2009 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value
Type |
as at 31/12/2011 |
as at 31/12/2010 |
as at 31/12/2009 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,20 |
0,20 |
0,29 |
0,23 |
|
Elasticity Ratio |
Units |
0,80 |
0,80 |
0,71 |
0,73 |
|
Availability of stock |
Units |
0,41 |
0,28 |
0,19 |
0,18 |
|
Total Liquidity Ratio |
Units |
0,39 |
0,51 |
0,52 |
0,50 |
|
Quick Ratio |
Units |
0,17 |
0,24 |
0,25 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
5,09 |
3,87 |
1,73 |
2,39 |
|
Self Financing Ratio |
Units |
0,14 |
0,15 |
0,22 |
0,22 |
|
Capital protection Ratio |
Units |
0,73 |
0,67 |
0,68 |
0,72 |
|
Liabilities consolidation quotient |
Units |
0,07 |
0,12 |
0,25 |
0,23 |
|
Financing |
Units |
6,22 |
5,59 |
3,55 |
3,17 |
|
Permanent Indebtedness Ratio |
Units |
0,19 |
0,24 |
0,37 |
0,39 |
|
M/L term Debts Ratio |
Units |
0,05 |
0,09 |
0,15 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
1,30 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,96 |
1,19 |
1,28 |
1,56 |
|
Current ratio |
Units |
0,99 |
1,05 |
1,13 |
1,22 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,49 |
0,68 |
0,83 |
0,87 |
|
Structure's primary quotient |
Units |
0,69 |
0,74 |
0,75 |
0,86 |
|
Treasury's primary quotient |
Units |
0,21 |
0,31 |
0,40 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
727,64 |
664,76 |
461,53 |
448,01 |
|
Current Capital ( net ) |
Value |
-316.875 |
2.860.137 |
3.701.150 |
486.040 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
5,90 |
7,62 |
4,43 |
3,43 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
7,68 |
13,52 |
11,41 |
3,96 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
20,60 |
25,50 |
23,04 |
11,84 |
|
Return on Investment ( R.O.I. ) |
% |
3,70 |
3,81 |
5,41 |
4,25 |
|
Return/ Sales |
% |
7,44 |
7,23 |
4,41 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
28,55 |
53,43 |
45,71 |
17,23 |
|
Cash Flow |
Value |
2.264.179 |
2.774.324 |
2.379.926 |
187.008 |
|
Operating Profit |
Value |
2.854.318 |
2.632.468 |
2.371.963 |
225.589 |
|
Gross Operating Margin |
Value |
4.363.729 |
4.042.831 |
3.667.986 |
370.750 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
159,18 |
172,87 |
77,94 |
119,80 |
|
Debts to suppliers average term |
Days |
109,27 |
135,09 |
138,50 |
120,31 |
|
Average stock waiting period |
Days |
294,78 |
194,36 |
55,32 |
63,58 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,50 |
0,53 |
1,23 |
1,04 |
|
Rate of stock return |
Units |
1,22 |
1,85 |
6,51 |
5,63 |
|
Labour cost incidence |
% |
48,65 |
37,02 |
23,03 |
16,99 |
|
Net financial revenues/ charges incidence |
% |
-0,40 |
0,05 |
-0,34 |
-1,67 |
|
Labour cost on purchasing expenses |
% |
38,28 |
29,62 |
38,98 |
17,79 |
|
Short-term financing charges |
% |
0,66 |
0,23 |
0,82 |
3,19 |
|
Capital on hand |
% |
201,27 |
189,91 |
81,61 |
95,87 |
|
Sales pro employee |
Value |
172.809 |
192.654 |
279.882 |
200.447 |
|
Labour cost pro employee |
Value |
84.070 |
71.326 |
64.446 |
34.557 |
Market / Territory Data
|
Population living in the province |
: |
371.318 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly
family expenses average in the region (in Eur..) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
Sector Data
The values are calculated on a base of 441
significant companies.
The companies cash their credits on an
average of 120 dd.
The average duration of suppliers debts is
about 120 dd.
The sector's profitability is on an average
of 3,43%.
The labour cost affects the turnover in the
measure of 16,99%.
Goods are held in stock in a range of 64 dd.
The difference between the sales volume and
the resources used to realize it is about 1,04.
The employees costs represent the 17,79% of
the production costs.
Statistical Detrimental Data
Statistically the trade activity shows
periods of crisis.
The area is statistically considered lowly
risky.
In the region 18.860 protested subjects are found;
in the province they count to 1.674.
The insolvency index for the region is 0,46,
, while for the province it is 0,46.
Total Bankrupt companies in the province :
607.
Total Bankrupt companies in the region :
14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.89 |
|
UK Pound |
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.