|
Report Date : |
13.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEREK RAPHAEL & CO. LTD. |
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|
|
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Registered Office : |
118 Baker Street London, W1U 6TT |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.12.1973 |
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Com. Reg. No.: |
01153094 |
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Legal Form : |
Private Subsidiary |
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|
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Line of Business : |
Trading in ferro alloys, metals, ores and minerals |
|
|
|
|
No. of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED KINGDOM - 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
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Source
: CIA |
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DEREK RAPHAEL &
CO. LTD. |
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8-10 Castle Street, Ciremcester Gloucestershire GL7 1QA United Kingdom
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Trading in ferro alloys, metals, ores and minerals. |
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
423520 - Coal and Other Mineral and Ore Merchant Wholesalers |
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UK SIC 2007: |
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US SIC 1987: |
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||||||||||||||||||||
Registered No.(UK): 01153094
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
London |
United Kingdom |
Miscellaneous Professional Services |
506.5 |
9 |
|
|
Subsidiary |
London |
United Kingdom |
Metals and Minerals Wholesale |
506.5 |
3 |
|
|
Subsidiary |
London |
United Kingdom |
Investment Services |
0.6 |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Professional Services |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
15 Apr 1969 |
7 Meadowside, Coln St Aldwyns, |
13 Jun 2001 |
NA |
Current:4 |
|
|
|
Current |
03 Sep 1938 |
3Rd Floor, 118 Baker Street, |
16 May 1991 |
NA |
Current:4 |
|
|
|
Previous |
16 May 1953 |
C/O Sfp Metals Uk Ltd, 35 Grosvenor Street, |
NA |
31 May 2001 |
Current:0 |
|
|
|
Previous |
19 Apr 1930 |
Castle Cottage, Thorpe Salvin, |
16 May 1991 |
12 Feb 1996 |
Current:1 |
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|
|
Previous |
22 Oct 1929 |
26 Stonegravels Way, Halfway, |
16 May 1991 |
30 Nov 1994 |
Current:0 |
|
|
|
Previous |
25 Dec 1962 |
St Thomas Court 39 Epsom Road, |
26 Jun 1992 |
31 Mar 2001 |
Current:4 |
|
|
|
Previous |
26 Apr 1966 |
Moor Lodge, Sugworth, |
15 May 1998 |
24 Aug 2000 |
Current:7 |
|
|
|
Previous |
11 Jul 1963 |
St Thomas Court 39 Epsom Road, |
06 Apr 1995 |
30 Sep 2001 |
Current:7 |
|
|
|
Previous |
03 Aug 1954 |
44 Martin Close, Aughton, |
01 Aug 1995 |
23 May 1996 |
Current:1 |
|
|
|
Previous |
01 Nov 1938 |
21 Bridstow Place, |
16 May 1991 |
22 Oct 2009 |
Current:1 |
|
|
|
Previous |
14 Dec 1944 |
25A Frognal, Hampstead, |
01 Nov 1994 |
22 Oct 2009 |
Current:22 |
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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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|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
24 Jul 1946 |
3Rd Floor, 118 Baker Street, |
30 Sep 2001 |
NA |
Current:6 |
|
|
|
Previous |
01 Nov 1938 |
21 Bridstow Place, |
16 May 1991 |
30 Apr 1999 |
Current:1 |
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|
|
Previous |
11 Jul 1963 |
St Thomas Court 39 Epsom Road, |
30 Apr 1999 |
30 Sep 2001 |
Current:7 |
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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 |
|
Derek Neale Raphael |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
<0.01 |
|
Shareholder Name Not Known |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
<0.01 |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
01897504 |
999999 Ordinary GBP 1.00 |
Ordinary |
999,999 |
1.00 |
999,999.00 |
100.00 |
|
|
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|||||||
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|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate (Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Turnover (UK) |
51.1 |
77.5 |
62.2 |
12.2 |
57.9 |
|
Turnover (Exports) |
455.4 |
585.5 |
548.5 |
297.6 |
710.5 |
|
Total Turnover |
506.5 |
663.0 |
610.7 |
309.8 |
768.4 |
|
Cost of Sales |
502.4 |
652.5 |
594.6 |
284.3 |
754.7 |
|
Gross Profit |
4.2 |
10.5 |
16.0 |
25.5 |
13.6 |
|
Other Expenses |
1.6 |
1.9 |
2.1 |
2.5 |
5.1 |
|
Other Income |
0.2 |
0.2 |
0.7 |
0.1 |
0.2 |
|
Interest Paid |
1.8 |
1.7 |
1.4 |
0.4 |
3.6 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
1.0 |
7.1 |
13.3 |
22.7 |
5.1 |
|
Tax Payable / Credit |
0.4 |
2.1 |
3.3 |
6.7 |
1.4 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
5.0 |
12.0 |
14.1 |
18.9 |
0.0 |
|
Profit After Taxes |
-4.4 |
-7.0 |
-4.0 |
-2.9 |
3.6 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Non Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Number of Employees |
3 |
3 |
2 |
2 |
1 |
|
Wages |
- |
0.1 |
0.1 |
0.1 |
0.0 |
|
Social Security Costs |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Pensions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Pension Costs |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees Remuneration |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Directors Emoluments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Directors Remuneration |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Highest Paid Director |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Stocks |
45.4 |
45.5 |
62.2 |
43.0 |
33.9 |
|
Work in Progress |
25.7 |
46.2 |
24.6 |
10.0 |
12.2 |
|
Total Stocks Work In Progress |
71.1 |
91.7 |
86.9 |
53.0 |
46.0 |
|
Trade Debtors |
25.5 |
47.8 |
56.2 |
26.6 |
27.3 |
|
Inter-Company Debtors |
0.0 |
- |
- |
- |
0.1 |
|
Other Debtors |
1.2 |
0.7 |
0.8 |
1.5 |
0.4 |
|
Total Debtors |
26.7 |
48.5 |
57.0 |
28.2 |
27.8 |
|
Cash and Equivalents |
1.7 |
3.6 |
5.1 |
3.0 |
1.9 |
|
Other Current Assets |
0.6 |
0.9 |
0.9 |
0.0 |
0.6 |
|
Total Current Assets |
100.2 |
144.7 |
149.8 |
84.2 |
76.3 |
|
Total Assets |
100.2 |
144.7 |
149.8 |
84.2 |
76.3 |
|
Trade Creditors |
4.8 |
4.6 |
11.3 |
3.7 |
6.8 |
|
Bank Overdraft |
47.5 |
91.7 |
95.5 |
28.4 |
9.2 |
|
Inter-Company Creditors |
24.8 |
19.4 |
7.1 |
8.9 |
16.7 |
|
Director Loans (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
1.5 |
2.1 |
1.8 |
1.4 |
3.4 |
|
Social Security/VAT |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Corporation Tax |
0.4 |
1.0 |
1.2 |
5.6 |
0.7 |
|
Dividends (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Liabilities |
78.9 |
118.8 |
116.9 |
48.1 |
36.8 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
19.3 |
24.0 |
30.9 |
34.1 |
37.6 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
21.3 |
25.9 |
32.9 |
36.1 |
39.5 |
|
Net Worth |
21.3 |
25.9 |
32.9 |
36.1 |
39.5 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate (Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
|
|
Annual Ratios |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.27 |
1.22 |
1.28 |
1.75 |
2.07 |
|
Liquidity Ratio |
0.37 |
0.45 |
0.54 |
0.65 |
0.82 |
|
Stock Turnover |
7.12 |
7.23 |
7.03 |
5.84 |
16.69 |
|
Credit Period (Days) |
18.39 |
26.33 |
33.60 |
31.37 |
12.98 |
|
Working Capital by Sales |
4.20% |
3.91% |
5.39% |
11.65% |
5.14% |
|
Trade Credit by Debtors |
0.19 |
0.10 |
0.20 |
0.14 |
0.25 |
|
Return on Capital |
4.63% |
27.36% |
40.37% |
63.04% |
12.78% |
|
Return on Assets |
0.98% |
4.90% |
8.87% |
27.01% |
6.62% |
|
Profit Margin |
0.19% |
1.07% |
2.18% |
7.34% |
0.66% |
|
Return on Shareholders Funds |
4.63% |
27.36% |
40.37% |
63.04% |
12.78% |
|
Borrowing Ratio |
339.86% |
428.39% |
311.82% |
103.32% |
65.53% |
|
Equity Gearing |
21.24% |
17.92% |
21.97% |
42.84% |
51.78% |
|
Interest Coverage |
0.56 |
4.12 |
9.83 |
62.79 |
1.39 |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Profit per Employee |
0.3 |
2.4 |
6.6 |
11.4 |
5.1 |
|
Sales per Employee |
168.8 |
221.0 |
305.3 |
154.9 |
768.4 |
|
Capital Employed per Employee |
7.1 |
8.6 |
16.5 |
18.0 |
39.5 |
|
Total Assets per Employee |
33.4 |
48.2 |
74.9 |
42.1 |
76.3 |
|
Employee Remuneration by Sales |
0.02% |
0.01% |
0.01% |
0.02% |
0.01% |
|
Creditor Days (Cost of Sales Based) |
3.49 |
2.56 |
6.96 |
4.79 |
3.31 |
|
Creditor Days (Sales Based) |
3.46 |
2.52 |
6.78 |
4.39 |
3.25 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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%)