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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
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Name : |
EASTWAY TRADING LTD. |
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Registered Office : |
Unit 3f 3rd Floor Wing Yip Business Centre Oldham
Manchester, M4 5HU |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
11.12.2009 |
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Com. Reg. No.: |
07101819 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject is engaged in Professional, Scientific and
Technical Services. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
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ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the
second largest economy in Europe after Germany. Over the past two decades, the
government has greatly reduced public ownership and contained the growth of
social welfare programs. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, account by far for the largest proportion of GDP while
industry continues to decline in importance. After emerging from recession in
1992, Britain's economy enjoyed the longest period of expansion on record
during which time growth outpaced most of Western Europe. In 2008, however, the
global financial crisis hit the economy particularly hard, due to the
importance of its financial sector. Sharply declining home prices, high
consumer debt, and the global economic slowdown compounded Britain's economic
problems, pushing the economy into recession in the latter half of 2008 and
prompting the then BROWN (Labour) government to implement a number of measures
to stimulate the economy and stabilize the financial markets; these include
nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which aimed to lower London's
budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November
2011, Chancellor of the Exchequer George OSBORNE announced additional austerity
measures through 2017 because of slower-than-expected economic growth and the
impact of the euro-zone debt crisis. The CAMERON government raised the value
added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation
tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset
purchase program of up to £375 billion (approximately $605 billion) as of
December 2012. During times of economic crisis, the BoE coordinates interest
rate moves with the European Central Bank, but Britain remains outside the
European Economic and Monetary Union (EMU). In 2012, weak consumer spending and
subdued business investment weighed on the economy. GDP fell 0.1%, and the
budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued
to increase
Source
: CIA
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Eastway Trading Ltd. |
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Dormant. |
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Industry |
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ANZSIC 2006: |
6999 - Other Professional, Scientific and Technical Services Not Elsewhere Classified |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
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Financial Summary
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Registered No.(UK): 07101819
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6267523
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6281078
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Main Office Address: |
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Annual Return Date: 11 Dec 2012 |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
05 May 1983 |
53 Whitesands Road, |
01 Dec 2012 |
NA |
Current:1 |
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Previous |
27 Mar 1967 |
53 Whitesands Road, |
11 Dec 2009 |
01 Dec 2012 |
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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There are no individual secretaries for this company. |
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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 |
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Jinrong Yao |
10 Ordinary GBP 1.00 |
Ordinary |
10 |
1.00 |
10.00 |
100.00 |
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Corporate
Shareholders |
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There are no corporate shareholders for this company. |
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
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Exchange Rate (Period Average) |
0.626752 |
0.643394 |
0.627794 |
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Consolidated |
No |
No |
No |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Filed Currency |
GBP |
GBP |
GBP |
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Exchange Rate |
0.628108 |
0.62385 |
0.659239 |
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Consolidated |
No |
No |
No |
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Land & Buildings |
0.0 |
0.0 |
0.0 |
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Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
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Plant & Vehicles |
0.0 |
0.0 |
0.0 |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.0 |
0.0 |
0.0 |
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Stocks |
0.0 |
0.0 |
0.0 |
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Work in Progress |
0.0 |
0.0 |
0.0 |
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Total Stocks Work In Progress |
0.0 |
0.0 |
0.0 |
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Trade Debtors |
0.0 |
0.0 |
0.0 |
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Inter-Company Debtors |
0.0 |
0.0 |
0.0 |
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Director Loans |
0.0 |
0.0 |
0.0 |
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Other Debtors |
0.0 |
0.0 |
0.0 |
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Total Debtors |
0.0 |
0.0 |
0.0 |
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Cash and Equivalents |
0.0 |
0.0 |
0.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.0 |
0.0 |
0.0 |
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Total Assets |
0.0 |
0.0 |
0.0 |
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Trade Creditors |
0.0 |
0.0 |
0.0 |
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Bank Overdraft |
0.0 |
0.0 |
0.0 |
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Inter-Company Creditors |
0.0 |
0.0 |
0.0 |
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Director Loans (Current Liability) |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
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Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
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Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
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Total Short Term Loans |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Current Liability) |
0.0 |
0.0 |
0.0 |
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Social Security/VAT |
0.0 |
0.0 |
0.0 |
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Corporation Tax |
0.0 |
0.0 |
0.0 |
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Dividends (Current Liability) |
0.0 |
0.0 |
0.0 |
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Other Current Liabilities |
0.0 |
0.0 |
0.0 |
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Total Current Liabilities |
0.0 |
0.0 |
0.0 |
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Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
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Deferred Taxation |
0.0 |
0.0 |
0.0 |
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Other Provisions |
0.0 |
0.0 |
0.0 |
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Total Provisions |
0.0 |
0.0 |
0.0 |
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Issued Capital |
0.0 |
0.0 |
0.0 |
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Share Premium Accounts |
0.0 |
0.0 |
0.0 |
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Revaluation Reserve |
0.0 |
0.0 |
0.0 |
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Retained Earnings |
0.0 |
0.0 |
0.0 |
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Other Reserves |
0.0 |
0.0 |
0.0 |
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Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
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Total Shareholders Funds |
0.0 |
0.0 |
0.0 |
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Net Worth |
0.0 |
0.0 |
0.0 |
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Annual Cash Flows |
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Financials in: USD (mil) |
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
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Exchange Rate (Period Average) |
0.626752 |
0.643394 |
0.627794 |
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Consolidated |
No |
No |
No |
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Annual Ratios |
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Financials in: USD (mil) |
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
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Exchange Rate |
0.628108 |
0.62385 |
0.659239 |
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Consolidated |
No |
No |
No |
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Equity Gearing |
10,000.00% |
10,000.00% |
10,000.00% |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.36 |
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1 |
Rs.101.20 |
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Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.