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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
AUSTRALIA MILLING GROUP PTY LTD |
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Formerly Known as: |
AUSSIE PULSE PROCESSORS PTY LTD |
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Registered Office : |
47 Golf
Course Road, Horsham, Victoria, Zip/postal code 3400 |
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Country : |
Australia |
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|
Financials (as on) : |
31.12.2012 (Group Consolidated) 31.12.2012 (Non - Consolidated) |
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Date of Incorporation : |
06.09.2007 |
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Com. Reg. No.: |
127428406 |
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Legal Form : |
Australian
Proprietary Company |
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Line of Business : |
sourcing, processing (cleaning, splitting, sorting and bagging) and export of pulses and specialty crops |
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No. of Employees : |
111
employees (Subject); 900 employees (Alliance Grain Traders Group) |
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 |
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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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
austraLia ECONOMIC OVERVIEW
The Australian economy has experienced continuous growth and features
low unemployment, contained inflation, very low public debt, and a strong and
stable financial system. By 2012, Australia had experienced more than 20 years
of continued economic growth, averaging 3.5% a year. Demand for resources and
energy from Asia and especially China has grown rapidly, creating a channel for
resources investments and growth in commodity exports. The high Australian
dollar has hurt the manufacturing sector, while the services sector is the
largest part of the Australian economy, accounting for about 70% of GDP and 75%
of jobs. Australia was comparatively unaffected by the global financial crisis
as the banking system has remained strong and inflation is under control.
Australia has benefited from a dramatic surge in its terms of trade in recent
years, stemming from rising global commodity prices. Australia is a significant
exporter of natural resources, energy, and food. Australia's abundant and
diverse natural resources attract high levels of foreign investment and include
extensive reserves of coal, iron, copper, gold, natural gas, uranium, and
renewable energy sources. A series of major investments, such as the US$40
billion Gorgon Liquid Natural Gas project, will significantly expand the
resources sector. Australia is an open market with minimal restrictions on
imports of goods and services. The process of opening up has increased
productivity, stimulated growth, and made the economy more flexible and
dynamic. Australia plays an active role in the World Trade Organization, APEC,
the G20, and other trade forums. Australia has bilateral free trade agreements
(FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has
a regional FTA with ASEAN and New Zealand, is negotiating agreements with
China, India, Indonesia, Japan, and the Republic of Korea, as well as with its
Pacific neighbors and the Gulf Cooperation Council countries, and is also
working on the Trans-Pacific Partnership Agreement with Brunei Darussalam,
Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
|
Source : CIA |
Verified Address
Subject name :
AUSTRALIA MILLING GROUP PTY
LTD
Business
address : 47 Golf Course Road
Town : Horsham
Province : Victoria
Zip/postal
code : 3400
Country : Australia
Tel : +61 3 53812555
Fax : +61 3 53822612
Email : trade@aumg.com.au
Website : www.aumg.com.au
Registered
address : 47 Golf Course Road
Town : Horsham
Province : Victoria
Zip/postal
code : 3400
Country : Australia
Postal address
: P.O. Box 838
Town : Horsham
Province : Victoria
Zip/postal
code : 3400
Country : Australia
Executive Summary
Date founded
or registered : 06/09/2007
Legal form : Australian
Proprietary Company
Chief
executive : Russell
Gordon Greening
Issued &
paid up capital : AUD 1
Sales turnover
: AUD 115,023,581
(Non-Consolidated 12 months, 31/12/2012)
Net income : AUD 3,678,411 (Non-Consolidated
12 months, 31/12/2012)
Total fixed
assets : AUD
119,600,694 (Non-Consolidated 12 months, 31/12/2012)
Line of
business : Sourcing,
processing (cleaning, splitting, sorting and bagging) and export of
pulses and specialty crops.
Staff employed
: 111 employees
(Subject); 900 employees (Alliance Grain Traders Group)
Company Analysis
Country risk :
Country risk
is minimal
Operation
trend : Operational
trend is progressing
Management
experience : Management is reasonably
experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational
structure is stable
Detrimental : No
detrimental found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 06/09/2007
Legal form : Australian
Proprietary Company
Registration
no Australian
Company Number: 127428406
Registered
authority : Australian
Securities and Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 57127428406
Registry
status : Live/Active
Previous name
: AUSSIE PULSE
PROCESSORS PTY LTD (initial)
Change of
legal form : None reported.
Key Management
Name : Russell Gordon Greening
Designation : Managing Director
Appointments
Name : Murad Al-Katib
Designation : Director
Appointment
date : 06/09/07
Address : 2132 Wascana Greens
Regina, SK S4V 2K8
Canada
Biography : Born on 08-10-1972 in Davidson,
Saskatchewan, Canada.
Mr. Murad Al-Katib serves as the Chief Executive Officer and
President of Alliance Grain Traders Inc. Mr. Al-Katib serves as
the
Chief Executive Officer and President of Alliance Pulse Processors
Inc. He served as the Chief Executive Officer and President of
Saskcan Pulse Trading Inc., a Division of Alliance Pulse
Processors
Inc. Mr. Al-Katib served as Chairman of the Board of Trustees of
Alliance Grain Traders Inc., since January 2008 and Trustee since
August 1, 2007. He co-founded Saskcan in 2001 and led its
expansion as processor and seller of pulses and specialty crops.,
over the next six years as its President and Chief Executive
Officer.
In 2005, he was elected to Board of Directors of the Canadian
Special Crops Association ("CSCA") and Pulse Canada, the
national
association for the pulses and specialty crops industry. He served
as
the President of the CSCA and Vice Chair of Pulse Canada since
2006. Also in 2006, he was appointed to the Advisory Board for
Small
and Medium Enterprise for the Canadian Minister of International
Trade, David Emerson. He has been a Director of Alliance Grain
Traders Inc. since August 01, 2007. He serves as a Director of
Saskcan Pulse Trading, Inc., and Saskcan Pulse Trading Inc. He
served as a Trustee of Alliance Grain Traders Inc. since August 1,
2007. In October 2004, Mr. Al-Katib was selected as the Prairie
Regional Winner of the Ernst and Young Emerging Entrepreneur of
the year for 2004. In May 2005, he was named one of Canada's Top
40 under 40 years old in Canada by the Caldwell Partners and the
Globe and Mail. In 2006, Murad was awarded a Saskatchewan
Centennial Medal as an outstanding business leader by
Saskatchewan's Lieutenant- Governor. Mr. Al-Katib graduated from
the University of Saskatchewan with a Bachelor of Commerce with
Distinction in Finance and finished his Master of International
Management with Distinction from the American Graduate School of
International Management (Thunderbird) in Arizona.
Name : Huseyin Arslan
Designation : Director
Appointment
date : 06/09/07
Address : Kasim Ekenler Sitesi
C Block, No. 1
Mersin
Turkey
Biography : Born on 11-08-1962 in Mersin,
Turkey.
Mr. Huseyin Arslan founded Alliance Pulse Processors, Inc. Mr.
Arslan is a Co-Founder of Saskcan Pulse Trading Inc. He has 25
years experience in the international food and agricultural
products.
He serves as the Executive Chairman of Alliance Grain Traders Inc
and has been its Director since January 31, 2008. He serves as a
Director of Alliance Pulse Processors Inc. He has been a Director
of
Alliance Grain Traders Income Fund since January 31, 2008. He
serves as a Director of Arbel Pulse and Grain Industry SA, Durum
Gida SA, European Tobacco SA in Turkey. He serves as a Director of
Alliance's subsidiaries United Pulse Trading Inc. in North Dakota
and
Australia Milling Group. Mr. Arslan holds Bachelor of Science in
Electronics Engineering from Middle East Technical University in
Turkey.
Name : Russell Gordon Greening
Designation : Director
Appointment
date : 15/10/08
Address : 22 Watersedge Close
Knoxfield, VIC 3180
Australia
Biography : Born on 29-08-1953 in
Korumburra, Victoria, Australia.
Name : Kevin John Michael
Scoullar
Designation : Company Secretary
Appointment
date : 31/12/11
Address 6 Lawson Close
Horsham, VIC 3400
Australia
Biography : Born on 05-11-1977 in Albury,
New South Wales, Australia.
Staff employed
: 111 employees (Subject); 900
employees (Alliance Grain Traders Group)
Key Advisors
Auditors : CAPITIS ACCOUNTING
SOLUTIONS
35 McLachlan Steet
Horsham,
VIC 3400
Australia
Composition
Authorized
Capital : AUD 1
No of shares :
1 Ordinary Share
Share par
value : AUD 1
Issued capital
: AUD 1
Paid up
capital : AUD 1
How listed : Full List
Composition
Shareholder name : ALLIANCE PULSE PROCESSORS INC.
Address : No. 1 Highway East
South Tower Road
Regina, SK S4N 7K9
Canada
No. of shares
: 1 Ordinary Share
% of shares : 100%
Structure
Name : ALLIANCE GRAIN TRADERS
INC.
Affiliation
type : Ultimate
Holding Company
Address : No. 1 Highway East
South Tower Road
Regina, SK S4N 7K9
Canada
Comments : Alliance Grain Traders Inc. engages
in sourcing, processing, distributing, and
exporting pulses and staple food products worldwide. The company
offers red,
green, and yellow lentils; yellow and green whole and split peas;
kabuli, desi, and
split desi chickpeas; white, navy, romano, pinto, barbunya, dark
and light red
kidney, faba, black, and red beans; milled durum wheat products,
such as pasta,
semolina, and bulgur products; food ingredients, including flour,
protein, starch,
and fiber derived from pulses, durum wheat, and rice; and other
products
comprising rice, popcorn, sunflower seeds, canary seeds, flax
seeds, edible oils,
feed items, spices, and other commodities. It is also involved in
trading edible oils
and crystal sugar, vegetable oils, salt, potatoes, and fresh
fruits and vegetables.
The company markets its products to importers, canners, packaging
companies,
wholesalers, and distributors. Alliance Grain Traders Inc.
is headquartered in
Regina, Canada.
Name : ALLIANCE PULSE
PROCESSORS INC.
Affiliation
type : Parent
Company
Address : No. 1 Highway East
South Tower Road
Regina, SK S4N 7K9
Canada
Name : ARBEL BAKLIYAT HUBUBAT
SANAYI VE TICARET A.S.
Affiliation
type : Sister
Company
Address : Yeni Mahalle, Cumhuriyet
Bulvari
No: 73/4, 33281 Kazanli
Mersin
Turkey
Name : UNITED PULSE TRADING
INC.
Affiliation
type : Sister
Company
Address : 1611 E. Century Avenue,
Suite 102
Bismarck, ND 58503-0780
United States
Name : ALLIANCE GRAIN TRADERS
(TIANJIN) CO., LTD.
Affiliation
type : Sister
Company
Address : A-2-301, No. 149 Weijin
Road
Heping District
Tianjin
China
Related companies and corporate affiliations comments
: Other
companies of the Alliance Grain Traders Group should be considered affiliates
of the Subject.
Bank Details
Name of bank :
National Australia
Bank Limited
Address : Australia
Account
details : Current Account
Comments : It is generally not the policy
of local banks to provide credit status information to
non related parties, however interested parties would be advised
to consult first
with the Subject if banker's references are required.
Mortgages : None
reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of
financial statement : Commercial
Registry Filings
Financial
statement date : 31/12/12
Type of
accounts : Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate
: 1
USD = AUD 1.05 as of 19-09-2013
Summarized
Financial Information
Consolidation
type : Non Consolidated Non Consolidated Group Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) Canada, Dollar (CAD)
Denomination :
(x1) One (x1) One (x1) One
Date of
financial year end : 31/12/12 31/12/11 31/12/12
Length of
accounts : 12 months 12 months 12 months
Sale turnover
/ Income : 115,023,581 90,918,007 855,324,677
Gross profit :
7,923,846 7,995,974 67,561,152
Profit before
tax : 5,734,208 4,977,255 10,843,784
Net income : 3,678,411 3,796,999 6,811,585
Non current
assets : 34,544,700 32,496,252 294,555,612
Current assets
: 85,055,994 46,319,249 417,935,344
Inventories : 37,337,287 25,054,772 188,881,727
Total assets :
119,600,694 78,815,501 712,490,956
Current
liabilities : 29,230,715
9,826,646 351,353,836
Non current
liabilities : 48,370,935 65,668,222 91,289,567
Total
liabilities : 77,601,650
75,494,868 442,643,403
Share equity :
41,999,044 3,320,633 269,847,553
Retained
earning : 6,999,043 3,320,632 22,627,852
Comments : Based on the Subject's
financial statement, the vast difference of current assets
for financial year end 2012 and 2011 is due to increase in trade
and other
receivables and inventories.
The non consolidated financial information above relates to the
Subject only.
The group’s consolidated financial information above relates to
the Subject’s
Ultimate Holding Company Alliance Grain Traders Inc. and all its
subsidiaries
which include the Subject.
Main
activities : The
Subject engages in sourcing, processing (cleaning, splitting, sorting
and bagging) and export of pulses and specialty crops.
The Subject has 4 milling plants located across Australia.
The Subject is ultimately owned by Alliance Grain Traders Inc.
Alliance Grain Traders Inc. (AGT) through its subsidiaries is
engaged in the
business of sourcing and processing (cleaning, splitting, sorting
and
bagging) specialty crops, primarily for export markets. Through
its two
segments, AGT handles a range of pulses and specialty crops
including
lentils, peas, chickpeas, beans and canary seed, flax and other
specialty
seeds. The Company’s operating segments are pulses and grains
processing, and supply chain management and distribution. The
pulses
and grains processing includes the operations of AGT factories
across its
global platform. The segment’s business includes sourcing pulses
and
grains from producers, processing them through its factories and
selling
these products to its network of clients. The segment includes all
pulses
processed in AGT factories in Canada, the United States,
Australia, and
Turkey. Supply chain management and distribution brings its range
of
pulses and specialty crops direct to wholesale and retail markets.
Product & services :
· Lentils
· Chickpeas
· Lupin
· Faba/broad beans
· Field peas
Purchases
Local : Yes
International
: Worldwide
Sales
Local : Yes
International
: Worldwide
Key events : 24 January 2013
Alliance Grain Traders Inc Announces CAD300 Million Senior Secured
Credit Facilities
Alliance Grain Traders Inc announced that its wholly owned
subsidiary,
Alliance Pulse Processors Inc. (APP), has entered into an
aggregate
amount of CAD300 million credit facilities with The Bank of Nova
Scotia
and a syndicate of six other lenders: HSBC Bank Canada, Canadian
Imperial Bank of Commerce, Farm Credit Canada, Alberta Treasury
Branches, Export Development Canada and ICICI Bank Canada. The
credit facilities includes an aggregate amount of CAD270 million
senior
secured credit facilities and a CAD30 million accordion that
increases the
size of the facilities to CAD300 million. The credit facilities
will be used for
general corporate purposes as well as to consolidate APP's
existing bank
credit facilities and contains financing tranches that may be
utilized for
future permitted acquisitions and capital expenditures as set
forth in the
credit facilities. The new facilities have maturity dates of
January 24, 2016
which may be extended at the request of APP for one-year periods
with the
consent of the syndicate and are subject to certain other terms
and
conditions. The terms of the credit facilities include customary
conditions,
events of default, covenants and representations and warranties.
The
credit facilities are guaranteed by AGT and a select number of its
direct
and indirect wholly-owned subsidiaries. Scotia Capital served as
Lead
Arranger and Bookrunner, with The Bank of Nova Scotia acting as
Administration Agent.
Source: Businessweek
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of a production facility, warehouse and an
administrative office.
Branches :
In addition,
the Subject operates from the following branches located at:
Lot 1, Beare Road
Kadina, SA 5554
Australia
Phone: +61 08 88214855
Fax: +61 08 88214866
Lot 6 Hundred of Inkerman, Balco Road
Bowmans, SA 5550
Australia
Phone: +61 08 88621462
Fax: +61 08 88621647
139 Railway Street North
Narrabri, NSW 2390
Australia
Phone: +61 02 67924933
Fax: +61 02 67924894
Corner Gore Highway & Holbrook Road
Westbrook, QLD 4350
Australia
Phone: +61 7 4630 6139
Fax: +61 7 4630 6190
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve
Bank of Australia
Reserve of
foreign exchange & gold : US$
46.714 billion
Gross domestic
product - GDP : US$ 1.586
trillion
GPP
(Purchasing power parity) : 954.296
billion of International dollars
GDP per capita
- current prices : US$ 68,916
GDP -
composition by sector : agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment
rate : 2010:
5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General
Government gross debt as
a % GDP) :
2010: 20.4%
2011: 22.9%
2012: 24%
Government
bond ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value
of publicly traded shares : US$1.198
trillion
Largest
companies in the country : Qantas
Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal
Services),Crown Ltd (Casinos &
aming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified
Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining
(Diversified Metals & Mining), Orica (Diversified Metals & Mining),
Iluka Resources (Diversified Metals & Mining), Origin Energy (Electric
Utilities), AGL Energy (Electric Utilities), Wesfarmers (Food Retail),
Woolworths (Food Retail), Metcash (Food Retail), Macquarie Group (Investment
services), AMP (Investment services), Challenger Ltd (Investment services), Fortescue
Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel),
Commonwealth Bank (Major Banks), Westpac Banking Group (Major Banks), National
Australia Bank (Major Banks), ANZ (Major Banks), Woodside Petroleum (Oil &
Gas Operations), Santos (Oil & Gas Operations), Caltex Australia (Oil &
Gas Operations), WorleyParsons (Oil Services & Equipment), Toll Holdings
(Other Transportation), Transurban Group (Other Transportation), QBE Insurance
Group (Property & Casualty Insurance), Insurance Australia Group (Property
& Casualty Insurance), QR National (Railroads), Westfield Group (Real
Estate), Stockland Australia (Real Estate), Westfield Retail Trust (Real
Estate), Lend Lease (Real Estate), CFS Retail Property Trust (Real Estate),
Goodman Group (Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank
of Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals), Telstra
(Telecommunications Services)
Trade &
Competitiveness Overview
Total exports
: US$263.9
billion
Exports
commodities : Coal, iron ore,
gold, meat, wool, alumina, wheat, machinery and transport
equipment
Total imports
: US$239.7
billion
Imports
commodities : Machinery and
transport equipment, computers and office machines,
telecommunication equipment and parts; crude oil and
petroleum products
Export - major
partners : China 27.4%, Japan
19.2%, South Korea 8.9%, India 5.8%
Import - major
partners : China 18.5%, US
11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009: US$26,554
million
2010: US$35,556 million
2011: US$41,317 million
FDI Outflows :
2009: US$16,693
million
2010: US$12,791 million
2011: US$19,999 million
Best countries
for doing business : 10 out of 185 countries
Global
competitiveness ranking : 20 (ranking by country on a basis of 144, the first
is the best)
Country and
Population Overview
Total
population : 22.68
million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users
as % of total
Population 79%
Purchase Term
Local : Bank transfer, D/P,
Credit 30-120 days
International
: L/C, Telegraphic
transfer, D/P, Credit 30-120 days
Sales Term
Local : Bank transfer, D/P,
Credit 30-120 days
International
: L/C, Telegraphic
transfer, D/P, Credit 30-120 days
Trade Reference/
Payment Behaviour
Comments : As local and international
trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined
but based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material
provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
UK Pound |
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
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.