|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
THYSSENKRUPP COMPANHIA SIDERÚRGICA DO
ATLÂNTICO |
|
|
|
|
Registered Office : |
Avenida João Xxiii, S/Nº - Santa Cruz 23560-352 - Rio De Janeiro/Rj |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
24.09.2004 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Manufacture of Basic Iron And Steel |
|
|
|
|
No. of Employees : |
2500 |
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 |
|
Maximum Credit Limit: |
USD 1.000.000,00 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
brazil - ECONOMIC OVERVIEW
Characterized by large and well-developed agricultural, mining,
manufacturing, and service sectors, Brazil's economy outweighs that of all
other South American countries, and Brazil is expanding its presence in world
markets. Since 2003, Brazil has steadily improved its macroeconomic stability,
building up foreign reserves, and reducing its debt profile by shifting its
debt burden toward real denominated and domestically held instruments. In 2008,
Brazil became a net external creditor and two ratings agencies awarded
investment grade status to its debt. After strong growth in 2007 and 2008, the
onset of the global financial crisis hit Brazil in 2008. Brazil experienced two
quarters of recession, as global demand for Brazil's commodity-based exports
dwindled and external credit dried up. However, Brazil was one of the first
emerging markets to begin a recovery. In 2010, consumer and investor confidence
revived and GDP growth reached 7.5%, the highest growth rate in the past 25
years. Rising inflation led the authorities to take measures to cool the
economy; these actions and the deteriorating international economic situation
slowed growth to 2.7% in 2011, and 1.3% in 2012. Unemployment is at historic
lows and Brazil's traditionally high level of income inequality has declined
for each of the last 14 years. Brazil's historically high interest rates have
made it an attractive destination for foreign investors. Large capital inflows
over the past several years have contributed to the appreciation of the
currency, hurting the competitiveness of Brazilian manufacturing and leading
the government to intervene in foreign exchange markets and raise taxes on some
foreign capital inflows. President Dilma ROUSSEFF has retained the previous
administration's commitment to inflation targeting by the central bank, a
floating exchange rate, and fiscal restraint. In an effort to boost growth, in
2012 the administration implemented a somewhat more expansionary monetary
policy that has failed to stimulate much growth.
|
Source
: CIA |
THYSSENKRUPP
COMPANHIA SIDERÚRGICA DO ATLÂNTICO
|
MAIN
ADDRESS: |
AVENIDA JOÃO XXIII, S/Nº - SANTA CRUZ |
|
ZIP CODE/CITY: |
23560-352 - RIO DE JANEIRO/RJ |
|
|
|
|
PHONE: |
21 2141-3246 |
|
E-MAIL: |
amanda.souza@thyssenkrupp.com |
|
WEB SITE: |
www.thyssenkrupp.com |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
RUA LAURO MULLER,116 - SALAS 2707, 2702,
2801, 2807, 2808, 3901, 3905 - BOTAFOGO |
|
ZIP CODE/CITY: |
22290-160 RIO DE JANEIRO/RJ |
|
MAIN
ACTIVITIES: |
|
MANUFACTURE OF BASIC IRON AND STEEL. |
|
LEGAL
FORM: |
PRIVATELY
HELD CORPORATION |
|
|
|
|
INCORPORATION DATE: |
24/09/2004 |
|
REGISTER DATE: |
24/09/2004 |
|
BALANCE SHEET FILING DATE: |
30/09 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
07.005.330/0001-19 |
|
STATE REGISTER: |
77.863.508 |
|
|
|
|
SHARE CAPITAL: |
R$ 14.382.258.292,00 |
|
BOARD
OF DIRECTORS: |
|
|
|
|
|
HERBET VIKTOR EICHELKRAUT |
PRESIDENT DIRECTOR |
|
RAINER VERHOEVEN |
FINANCIAL DIRECTOR |
|
HEYNO MICHAEL SMITH |
DIRECTOR |
|
PEDRO HENRIQUE GOMES TEIXEIRA |
DIRECTOR |
|
JORGE LUIZ RIBEIRO DE OLIVEIRA |
DIRECTOR |
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON
BEHALF OF THE COMPANY. |
|
SHAREHOLDERS
/ PARTNERS: |
|
|
|
|
|
THYSSENKRUPP SLAB INTERNATIONAL BV |
73,13% |
|
VALE S/A |
26,87% |
|
AFFILIATES
/ SUBSIDIARIES: |
|
|
|
|
|
URUCUM MINERAÇÃO S/A |
|
|
VALE ENERGIA S/A |
|
|
CASAM S/A |
|
|
SOCIEDADE DE MINERAÇÃO ESTRELA DE APOLO
S/A |
|
|
AÇOS LAMINADOS DO PARA S/A |
|
|
CIA FERRO LIGAS DO AMAPA CFA |
|
|
THYSSENKRUPP MAQUINAS E EQUIPAMENTOS LTDA |
|
|
SUBJECT WAS ESTABLISHED ON SEPTEMBER 24,
2004 AS CSA COMPANHIA SIDERURGICA DO ATLANTICO. TO BE ENGAGED IN THE SAID LINE
OF BUSINESS. IN SEPTEMBER 2006 IT ALTERED TO ABOVE-MENTIONED NAME BUT ONLY IN
SEPTEMBER 07, 2010 IT STARTED ITS OPERATIONS. THE COMPANY IS A JOINT-VENTURE BETWEEN CIA
VALE DO RIO DOCE WHICH WAS FORMERLY AN STATE-OWNED COMPANY IS CURRENTLY ONE
OF THE BIGGEST AND MOST IMPORTANT COMPANIES IN BRAZIL WITH OPERATIONS IN
SEVERAL LINES OF BUSINESS AND THYSSENKRUPP WHICH IS ONE OF THE BIGGEST IRON
AND STEEL INDUSTRY IN EUROPE". IT WILL PRODUCE 4,4 MILLIONS OF TONS PER
YEAR. ON DOCTOBER 25, 2010 SUBJECT ALTERED ITS
CORPORATE NAME FROM THYSSENKRUPP CSA SIDERURGICA DO ATLANTICO LTDA TO THE
PRESENT REGISTERED ONE. FURTHER DETAILS ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
PROTESTS: |
|
11
PROTESTS,TOTAL AMOUNT R$ 284.458,53 |
|
DATE OF FIRST PROTEST: 08/03/2013 R$ 8.692,42 |
|
DATE OF HIGHEST PROTEST: 08/03/2013 R$ 56.277,58 |
|
DETAILS OF
LATEST PROTESTS: |
|
NOTARY OFFICE: |
DATE: |
VALUE: |
|
1º CARTÓRIO DE ITAGUAI/RJ |
26/04/2013 |
R$ 9.925,59 |
|
1º CARTÓRIO DO RIO DE JANEIRO/RJ |
02/09/2013 |
R$ 242,76 |
|
3º CARTÓRIO DO RIO DE JANEIRO/RJ |
22/03/2013 |
R$ 8.692,42 |
|
2º CARTÓRIO DO RIO DE JANEIRO/RJ |
19/08/2013 |
R$ 5.913,60 |
|
3º CARTÓRIO DO RIO DE JANEIRO/RJ |
20/03/2013 |
R$ 31.588,38 |
|
GENERAL
BALANCE SHEETS AS OF 30/09/2012, 30/09/2011 AND 30/09/2010. |
|
(
FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
|
|
|
|
CASH AND BANKS |
136.517 |
377.750 |
457.450 |
|
CLIENTS |
604.045 |
508.436 |
30.420 |
|
ADVANCE TO SUPPLIERS |
12.386 |
6.898 |
21.992 |
|
INVENTORY |
1.173.667 |
1.441.646 |
679.135 |
|
DERIVATIVES OPERATIONS |
4.222 |
|
111.653 |
|
RECOVERABLE TAXES |
249.049 |
373.144 |
61.188 |
|
OTHER |
14.380 |
8.250 |
235.215 |
|
ASSETS HELD FOR SALE |
|
|
155.590 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
2.194.266 |
2.716.124 |
1.752.643 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
RECOVERABLE TAXES |
671.491 |
545.340 |
913.057 |
|
DEFERRED TAXES |
|
123.333 |
323.346 |
|
GUARANTEE DEPOSITS |
3.225 |
3.088 |
335 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
674.716 |
671.761 |
1.236.738 |
|
FIXED
ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
4.564 |
4.167 |
3.776 |
|
FIXED ASSETS |
5.525.808 |
7.428.393 |
10.564.786 |
|
INTANGIBLE |
27.612 |
33.286 |
31.748 |
|
DEFERRED |
|
|
750.068 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
5.557.984 |
7.465.846 |
11.350.378 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
8.426.966 |
10.853.731 |
14.339.759 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
|
|
|
|
LOANS AND FINANCING |
1.601.552 |
686.419 |
121.512 |
|
DERIVATIVES OPERATIONS |
183.817 |
486.194 |
7.080 |
|
SUPPLIERS |
762.765 |
1.061.388 |
569.585 |
|
TAX LIABILITIES |
39.336 |
30.772 |
25.457 |
|
SOCIAL / LABOR OBLIGATIONS |
63.721 |
43.214 |
25.931 |
|
PROVISIONS |
83.994 |
85.201 |
278.335 |
|
PROVISION FOR CONTINGENCIES |
23.344 |
38.713 |
139.240 |
|
ADVANCE FROM CLIENTS |
1.491 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
2.760.020 |
2.431.901 |
1.167.140 |
|
LONG
TERM LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
2.677.985 |
1.955.098 |
1.369.497 |
|
SUPPLIERS |
3.021 |
590 |
8.914 |
|
DEFERRED TAXES |
|
123.333 |
1.399 |
|
PROVISIONS |
5.011 |
16.993 |
12.257 |
|
PROVISION FOR CONTINGENCIES |
5.379 |
4.956 |
2.065 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
2.691.396 |
2.100.970 |
1.394.132 |
|
NET
EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
14.382.258 |
14.382.258 |
14.118.678 |
|
OTHER |
1.529.074 |
1.192.649 |
9.503 |
|
ACCRUED PROFIT (LOSS) |
-12.935.782 |
-9.254.047 |
-2.349.694 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
2.975.550 |
6.320.860 |
11.778.487 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
8.426.966 |
10.853.731 |
14.339.759 |
|
PROFIT AND LOSS ACCOUNTS AS OF 30/09/2012,
30/09/2011 AND 30/09/2010. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
|
|
|
|
NET SALES |
4.597.834 |
3.357.347 |
158.387 |
|
(-) COST OF SOLD GOODS |
7.573.312 |
3.860.052 |
174.836 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
-2.975.478 |
-502.705 |
-16.449 |
|
OPERATING REVENUE (EXPENSE) |
-1.061.868 |
-7.246.735 |
-920.583 |
|
FINANCIAL REVENUE(EXPENSE) |
-166.709 |
126.848 |
557.178 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
-4.204.055 |
-7.622.592 |
-379.854 |
|
NON-OPERATING RESULT |
|
|
168 |
|
CONTRIBUTION/INCOME TAX |
918 |
-348.643 |
312.147 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
-4.203.137 |
-7.971.235 |
-67.539 |
|
RATIOS: |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
QUICK RATIO |
,37 |
|
,52 |
|
,92 |
|
|
CURRENT RATIO |
,80 |
|
1,12 |
|
1,50 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
7,61 |
TIMES |
6,60 |
TIMES |
5,21 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
47,30 |
DAYS |
54,52 |
DAYS |
69,14 |
DAYS |
|
INVENTORY TURNOVER |
6,45 |
TIMES |
2,68 |
TIMES |
,26 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
36,26 |
DAYS |
98,99 |
DAYS |
1.172,82 |
DAYS |
|
RETURN ON ASSETS |
,55 |
TIMES |
,31 |
TIMES |
,01 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
1,55 |
TIMES |
,53 |
TIMES |
,01 |
TIMES |
|
NET WORTH TIE-UP |
1,86 |
|
1,18 |
|
,90 |
|
|
INDEBTEDNESS |
1,83 |
|
,72 |
|
,22 |
|
|
EQUITY RATIO |
35,31 |
% |
58,24 |
% |
82,14 |
% |
|
WORKING CAPITAL RATIO |
-20,50 |
% |
11,69 |
% |
50,17 |
% |
|
GENERAL SOLVENCY |
1,55 |
|
2,39 |
|
5,60 |
|
|
RETURN ON NET EQUITY |
-141,26 |
% |
-126,11 |
% |
-,57 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
-91,42 |
% |
-237,43 |
% |
-42,64 |
% |
|
GROSS PROFIT MARGIN |
-64,71 |
% |
-14,97 |
% |
-10,39 |
% |
|
OPERATIONAL RESULT |
-91,44 |
% |
-227,04 |
% |
-239,83 |
% |
|
SALES TURNOVER ON LIABILITIES |
1,67 |
TIMES |
1,38 |
TIMES |
,14 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE
RATE: |
|
|
US$ 1,00 = R$ 2,18 |
- OFFICIAL RATE ON 10/10/2013 |
|
US$ 1,00 = R$ 2,03 |
- OFFICIAL RATE ON 30/09/2012 |
|
US$ 1,00 = R$ 1,87 |
- OFFICIAL RATE ON 30/09/2011 |
|
US$ 1,00 = R$ 1,69 |
- OFFICIAL RATE ON 30/09/2010 |
|
COMMENTS
ON THE FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW AN UNBALANCED
FINANCIAL STANDING. IT HAS LOW CURRENT RATIO AND HIGH LEVEL OF INDEBTEDNESS. DESPITE
THE GROWING SALES ITS THE HIGH COSTS DROVE THE COMPANY TO MADE NEGATIVE GROSS
RESULT. FURTHER, THE COMPANY MADE HUGE LOSS DUE TO THE VERY HIGH OPERATING
EXPENSES. THE COMPANY STATED THAT SUCH HUGE LOSS AS
THE COMPANY IS PRODUCING WITH NEGATIVE GROSS MARGIN AND THIS DUE TO THE FACT
THAT HE COMPANY IS IN THE RAMP UP PHASE AND IS MAKING SOME TECHNICAL
ADJUSTMENTS TO BALANCE THE SELLING MARGIN. EVEN SO, IT IS WORTH THAT SUBJECT BELONGS
TO TWO LEADING GROUPS IN THEIR RESPECTIVE LINES OF BUSINESS, THEREFORE THE
SUBJECT MAY COUNT ON THEIR FINANCIAL SUPPORT WHENEVER REQUIRED. REMARKS: -------- THE SUBJECT STARTED OPERATING ONLY IN SEPTEMBER 07, 2010 WITH FULL
CAPACITY. |
|
REAL
ESTATE: |
OWNED PREMISES ARE VALUED AT R$
900.628.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 8.241.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT
R$ 3.810.705.000,00
|
NOT AVAILABLE. |
|
|
|
|
|
BANCO SANTANDER (BRASIL) S/A |
|
|
REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED
BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.
ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO
RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN
CENTRAL BANK").
|
SUBJECT WAS SETUP TO BE ENGAGED IN THE
MANUFACTURE OF BASIC IRON AND STEEL. |
|
IMPORT
AND EXPORT: |
IMPORTS
FROM:
|
NOT AVAILABLE. |
EXPORTS
TO:
|
NOT AVAILABLE. |
|
MAIN
CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
NOT AVAILABLE |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 2500 EMPLOYEE(S) |
|
THE SUBJECT IS A NEWLY ESTABLISHED JOINT-VENTURE
BETWEEN CIA DO VALE DO RIO DOCE AND THYSSENKRUPP. TWO COMPANIES WITH
WELL-KNOWN OPERATING HISTORY AND HUGE FINANCIAL STRENGTH. IT HAS TRADE RELATIONS WITH SEVERAL
SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN
TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT
PROBLEMS ARE NOTED. OUR INVESTIGATION THROUGH THE PUBLIC SHOWED
SOME DETRIMENTAL FILES REGISTERED AGAINST THE SUBJECT BUT DUE TO THE
SUBJECT’S HIGH FINANCIAL STRENGTH AND HIGH SCALE OF OPERATIONS THE
DETRIMENTAL FILES ARE CONSIDERED NORMAL AND DO NOT AFFECT ITS TRADE
REPUTATION OR ITS CREDITWORTHINESS. |
|
MAIN
SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
|
|
POLYSIUS DO BRASIL LTDA |
|
|
|
RIP SERVIÇÕS DE SIDERURGICOS LTDA |
|
|
|
RIP SERVOÇOS INDUSTRIAIS LTDA |
|
|
|
THYSSENKRUPP COMERCIO DE COMUSTIVEIS |
|
|
|
THYSSENKRUPP ELEVADORES |
|
|
|
WHITE MARTINS STEEL GASES |
|
|
|
FOREIGN
SUPPLIERS: |
|
|
|
POLYSIUS AG |
|
|
|
THYSSENKRUPP AG |
|
|
|
THYSSENKRUPP FORDENTCHNIK GMBH |
|
|
|
THYSSENKRUPP GTT BAUTECHNK GMBH |
|
|
|
THYSSENKRUPP STEEL EUROPE AG |
|
|
|
THYSSENKRUPP TUPES |
|
|
|
TK MATERIALS INTERNATIONAL GMBH |
|
|
|
PAYMENT
HISTORY: |
|
7 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 110.516,00 |
|
|
|
AMOUNT OF INVOICES PAID: 72 |
|
TOTAL OF PROMPT PAYMENTS: 99,1% |
|
TOTAL OF DELAYED PAYMENTS: 0,9% |
|
|
|
HIGHEST INVOICE: R$ 9.900,00 |
|
HIGHEST CREDIT: R$ 9.900,00 |
|
|
|
OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL
AMOUNT: |
|
DUE WITHIN 30 DAYS |
1 |
1 |
R$ 5.559,19 |
THE SUBJECT IS A NEWLY ESTABLISHED
JOINT-VENTURE BETWEEN CIA DO VALE DO RIO DOCE AND THYSSENKRUPP. AND THE TRADE
REPUTATION OF ITS SHAREHOLDERS ITSELF MAKES THE SUBJECT WORTH FOR IMPORTANT
OPERATIONS.
THE COMPANY STARTED OPERATING ONLY IN 2010 BUT BASED ON THE GENERAL
INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE
ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS
ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.
A CREDIT LIMIT OF USD 1.000.000,00 MAY BE GRANTED. FOR HIGHER AMOUNTS
IT WOULD BE RECOMMENDED DEMMAND A COLLATERAL FROM THE SHAREHOLDERS.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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.