MIRA
INFORM REPORT
|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
J.D. WILLIAMS
& COMPANY LIMITED |
|
|
|
|
Registered Office : |
Griffin House 40
Lever Street Manchester M99 1ZU |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
02.03.2013 |
|
|
|
|
Date of Incorporation : |
13.12.1921 |
|
|
|
|
Com. Reg. No.: |
00178367 |
|
|
|
|
Legal Form : |
Private
limited with Share Capital |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees |
3190 |
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 |
|
Payment Behaviour : |
No complaints |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
UNITED KINGDOM ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. 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, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. 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. Falling 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 included 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 about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to 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 £375 billion (approximately $605 billion) as of December 2013. 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, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase
|
Source
: CIA |
Company name and address
J.D. WILLIAMS & COMPANY LIMITED
Registered Address:
GRIFFIN HOUSE
40 LEVER STREET
MANCHESTER
M99 1ZU
Company information
Company No: 00178367
Registered Address: GRIFFIN
HOUSE
40 LEVER STREET
MANCHESTER
M99 1ZU
Trading Address: GRIFFIN HOUSE
40 LEVER STREET
MANCHESTER
M99 1ZU
Website Address http://www.jdwilliams.co.uk
Telephone Number : 01612382000
TPS No
FPS No
Incorporation Data 13.12.1921
Type Private limited with Share Capital
Filing Date of account 29.11.2013
Currency GBP
Share Capital Pound 115,218,344
SIC07 47910
Activity Retail sale via mail order houses or via internet
Retailing through direct home shopping
DIRECTORS/MANAGEMENT
|
Total Current Directors |
11 |
|
Total Current
Secretaries |
1 |
|
Total Previous
Directors / Company Secretaries |
24 |
Current Directors
|
Name |
Date of Birth |
28/02/1935 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
12 |
Function |
Director |
|
Appointment Date |
20/12/2012 |
|
|
|
Address |
55 Carrwood, Hale
Barns, Altrincham, Cheshire, WA15 0EN |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
15/04/1955 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
34 |
Function |
Director |
|
Appointment Date |
02/09/2002 |
|
|
|
Address |
Orrell House,
Ostlers Lane, Mobberley, Cheshire, WA16 7LY |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
22/10/1957 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
63 |
Function |
Director |
|
Appointment Date |
28/01/2004 |
|
|
|
Address |
Griffin House, 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
18/10/1957 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
3 |
Function |
Director |
|
Appointment Date |
12/05/2008 |
|
|
|
Address |
Griffin House, 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
31/07/1967 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
43 |
Function |
Director |
|
Appointment Date |
25/02/2008 |
|
|
|
Address |
Griffin House, 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
27/04/1958 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
2 |
Function |
Director |
|
Appointment Date |
13/08/2007 |
|
|
|
Address |
Griffin House, 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
03/07/1961 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
3 |
Function |
Director |
|
Appointment Date |
13/09/2011 |
|
|
|
Address |
Griffin House 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
29/06/1964 |
|
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
01/02/2013 |
|
|
|
Address |
Griffin House 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
29/12/1966 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment Date |
01/02/2013 |
|
|
|
Address |
Griffin House 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
30/08/1962 |
|
|
Officers Title |
Ms |
Nationality |
British |
|
Present
Appointments |
3 |
Function |
Director |
|
Appointment Date |
01/07/2013 |
|
|
|
Address |
Griffin House, 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
|
Name |
Date of Birth |
07/01/1965 |
|
|
Officers Title |
Mrs |
Nationality |
British |
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment Date |
17/03/2014 |
|
|
|
Address |
Griffin House 40
Lever Street, Manchester, M60 6ES |
||
|
Other Actions |
|
||
Current Company Secretary
|
Name |
Date of Birth |
05/03/1953 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
79 |
Function |
Company Secretary |
|
Appointment Date |
19/07/1991 |
|
|
|
Address |
Griffin House, 40
Lever Street, Manchester, M60 6ES |
||
NEGATIVE INFORMATION
CCJ
|
Total Number of
Exact CCJs - |
Total Value of
Exact CCJs - |
||
|
Total Number of
Possible CCJs - |
Total Value of
Possible CCJs - |
../../SCARLET_BACK-UPREPORTS4ECCJDetails.aspx?CompanyNumber=00178367 |
|
|
Total Number of
Satisfied CCJs - |
Total Value of
Satisfied CCJs - |
../../SCARLET_BACK-UPREPORTS4ECCJDetails.aspx?CompanyNumber=00178367 |
|
|
Total Number of
Writs - |
- |
|
|
|
Date |
Court |
Amount |
Status |
Case Number |
Date Paid |
|
02/02/2011 |
IPSWICH |
£1,526 |
Judgement |
1UC01102 |
- |
Exact CCJ Details
|
Date |
Court |
Amount |
Status |
Case Number |
Date Paid |
|
02/02/2011 |
IPSWICH |
£1,526 |
Judgement |
1UC01102 |
- |
Possible CCJs
Details
|
There are no
possible CCJ details |
Writ Details
|
No writs found |
SHARE & SHARE CAPITAL INFORMATION
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share
Count |
|
J D WILLIAMS GROUP
LTD |
GBP |
114,978,264 |
ORDINARY |
1 |
99.79 |
|
J D WILLIAMS GROUP
LTD |
GBP |
120,040 |
ORDINARY A |
1 |
0.1 |
|
J D WILLIAMS GROUP
LTD |
GBP |
120,040 |
ORDINARY B |
1 |
0.1 |
GROUP STRUCTURE & AFFILIATED COMPANIES
Statistics
|
Group |
62 companies |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
J.D. WILLIAMS
GROUP LIMITED |
|
Ownership Status |
Wholly Owned |
|
Ultimate Holding
Company |
N BROWN GROUP PLC |
FINANCIAL INFORMATION
Profit & Loss
|
|
Date Of Accounts |
02/03/13 |
(%) |
03/03/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
|
|
Weeks |
52 |
(%) |
53 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
|
Turnover |
£740,563,000 |
4.6% |
£707,896,000 |
7.7% |
£657,515,000 |
2.7% |
£639,964,000 |
5.3% |
£607,537,000 |
|
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Cost of Sales |
£352,175,000 |
4.1% |
£338,435,000 |
10.2% |
£307,189,000 |
-1.8% |
£312,786,000 |
8.4% |
£288,601,000 |
|
|
Gross Profit |
£388,388,000 |
5.1% |
£369,461,000 |
5.5% |
£350,326,000 |
7.1% |
£327,178,000 |
2.6% |
£318,936,000 |
|
|
Wages &
Salaries |
£75,836,000 |
4.3% |
£72,680,000 |
13.1% |
£64,277,000 |
-4.9% |
£67,563,000 |
4% |
£64,979,000 |
|
|
Directors
Emoluments |
£2,855,000 |
-25.8% |
£3,850,000 |
-34.5% |
£5,877,000 |
67.6% |
£3,507,000 |
3.9% |
£3,374,000 |
|
|
Operating Profit |
£101,988,000 |
4.2% |
£97,902,000 |
3.2% |
£94,863,000 |
12.1% |
£84,620,000 |
3.3% |
£81,926,000 |
|
|
Depreciation |
£18,656,000 |
17.8% |
£15,840,000 |
15.4% |
£13,722,000 |
0.6% |
£13,635,000 |
15.5% |
£11,810,000 |
|
|
Audit Fees |
£160,000 |
- |
£160,000 |
6.7% |
£150,000 |
- |
£150,000 |
- |
£150,000 |
|
|
Interest Payments |
£23,556,000 |
13.8% |
£20,699,000 |
43.5% |
£14,420,000 |
33.8% |
£10,781,000 |
-68.3% |
£34,052,000 |
|
|
Pre Tax Profit |
£106,865,000 |
23.2% |
£86,767,000 |
7.6% |
£80,625,000 |
5.8% |
£76,198,000 |
6.4% |
£71,647,000 |
|
|
Taxation |
-£22,920,000 |
-62.1% |
-£14,141,000 |
16.3% |
-£16,900,000 |
17.5% |
-£20,474,000 |
-26% |
-£16,244,000 |
|
|
Profit After Tax |
£83,945,000 |
15.6% |
£72,626,000 |
14% |
£63,725,000 |
14.4% |
£55,724,000 |
0.6% |
£55,403,000 |
|
|
Dividends Payable |
£50,000,000 |
66.7% |
£30,000,000 |
- |
- |
- |
- |
- |
- |
|
|
Retained Profit |
£33,945,000 |
-20.4% |
£42,626,000 |
-33.1% |
£63,725,000 |
14.4% |
£55,724,000 |
0.6% |
£55,403,000 |
Balance Sheet
|
|
Date Of Accounts |
02/03/13 |
(%) |
03/03/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
|
|
Tangible Assets |
£142,936,000 |
4.6% |
£136,715,000 |
4.3% |
£131,020,000 |
22.1% |
£107,283,000 |
-2.7% |
£110,248,000 |
|
|
Intangible Assets |
£1,959,000 |
1.8% |
£1,924,000 |
1.7% |
£1,892,000 |
84.6% |
£1,025,000 |
216.4% |
£324,000 |
|
|
Total Fixed Assets |
£144,895,000 |
4.5% |
£138,639,000 |
4.3% |
£132,912,000 |
22.7% |
£108,308,000 |
-2% |
£110,572,000 |
|
|
Stock |
£83,913,000 |
5.6% |
£79,486,000 |
6.9% |
£74,346,000 |
28.8% |
£57,744,000 |
-7% |
£62,096,000 |
|
|
Trade Debtors |
£520,032,000 |
5.2% |
£494,522,000 |
6% |
£466,414,000 |
6.5% |
£437,968,000 |
2.7% |
£426,337,000 |
|
|
Cash |
£77,685,000 |
11.4% |
£69,758,000 |
36.2% |
£51,211,000 |
17.8% |
£43,484,000 |
-11.6% |
£49,203,000 |
|
|
Other Debtors |
£51,424,000 |
-31.1% |
£74,642,000 |
3.1% |
£72,386,000 |
-16.9% |
£87,085,000 |
98.4% |
£43,895,000 |
|
|
Miscellaneous
Current Assets |
0 |
- |
0 |
- |
0 |
-100% |
£2,305,000 |
-76.3% |
£9,744,000 |
|
|
Total Current
Assets |
£733,054,000 |
2% |
£718,408,000 |
8.1% |
£664,357,000 |
5.7% |
£628,586,000 |
6.3% |
£591,275,000 |
|
|
Trade Creditors |
£60,612,000 |
2.8% |
£58,970,000 |
5% |
£56,166,000 |
22.6% |
£45,813,000 |
-6.4% |
£48,963,000 |
|
|
Bank Loans &
Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term
Finance |
£416,763,000 |
-3.7% |
£432,738,000 |
-14.9% |
£508,520,000 |
2.7% |
£495,129,000 |
1% |
£490,437,000 |
|
|
Miscellaneous
Current Liabilities |
£54,619,000 |
3.5% |
£52,779,000 |
-28.4% |
£73,695,000 |
7% |
£68,893,000 |
32.8% |
£51,880,000 |
|
|
Total Current
Liabilities |
£531,994,000 |
-2.3% |
£544,487,000 |
-14.7% |
£638,381,000 |
4.7% |
£609,835,000 |
3.1% |
£591,280,000 |
|
|
Bank Loans &
Overdrafts and LTL |
£7,100,000 |
6.8% |
£6,647,000 |
-17.7% |
£8,078,000 |
5.4% |
£7,667,000 |
23.6% |
£6,201,000 |
|
|
Other Long Term
Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Long Term
Liabilities |
£7,100,000 |
6.8% |
£6,647,000 |
-17.7% |
£8,078,000 |
5.4% |
£7,667,000 |
23.6% |
£6,201,000 |
Capital & Reserves
|
|
Date Of Accounts |
02/03/13 |
(%) |
03/03/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
|
|
Called Up Share
Capital |
£114,978,000 |
- |
£114,978,000 |
999.9% |
£120,000 |
- |
£120,000 |
- |
£120,000 |
|
|
P & L Account
Reserve |
£223,637,000 |
17.3% |
£190,695,000 |
26.7% |
£150,450,000 |
26.3% |
£119,152,000 |
14.3% |
£104,246,000 |
|
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Sundry Reserves |
£240,000 |
- |
£240,000 |
- |
£240,000 |
100% |
£120,000 |
- |
- |
|
|
Shareholder Funds |
£338,855,000 |
10.8% |
£305,913,000 |
102.8% |
£150,810,000 |
26.3% |
£119,392,000 |
14.4% |
£104,366,000 |
Other Financial Items
|
|
Date Of Accounts |
02/03/13 |
(%) |
03/03/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
|
|
Net Worth |
£336,896,000 |
10.8% |
£303,989,000 |
104.1% |
£148,918,000 |
25.8% |
£118,367,000 |
13.8% |
£104,042,000 |
|
|
Working Capital |
£201,060,000 |
15.6% |
£173,921,000 |
569.5% |
£25,976,000 |
38.5% |
£18,751,000 |
999.9% |
-£5,000 |
|
|
Total Assets |
£877,949,000 |
2.4% |
£857,047,000 |
7.5% |
£797,269,000 |
8.2% |
£736,894,000 |
5% |
£701,847,000 |
|
|
Total Liabilities |
£539,094,000 |
-2.2% |
£551,134,000 |
-14.7% |
£646,459,000 |
4.7% |
£617,502,000 |
3.4% |
£597,481,000 |
|
|
Net Assets |
£338,855,000 |
10.8% |
£305,913,000 |
102.8% |
£150,810,000 |
26.3% |
£119,392,000 |
14.4% |
£104,366,000 |
Miscellaneous
|
|
Date Of Accounts |
02/03/13 |
(%) |
03/03/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
|
|
Contingent
Liability |
YES |
- |
YES |
- |
NO |
- |
NO |
- |
NO |
|
|
Capital Employed |
£345,955,000 |
10.7% |
£312,560,000 |
96.7% |
£158,888,000 |
25.1% |
£127,059,000 |
14.9% |
£110,567,000 |
|
|
Number of
Employees |
3190 |
-0.5% |
3207 |
2.9% |
3117 |
-0.1% |
3120 |
2.8% |
3034 |
|
|
Auditors |
DELOITTE LLP |
||||||||
|
|
Auditor Comments |
The audit report
contains no adverse comments |
||||||||
|
|
Bankers |
HSBC BANK PLC |
||||||||
|
|
Bank Branch Code |
|
||||||||
Ratios
|
|
Date Of Accounts |
02/03/13 |
03/03/12 |
26/02/11 |
27/02/10 |
28/02/09 |
|
|
Pre-tax profit
margin % |
14.43 |
12.26 |
12.26 |
11.91 |
11.79 |
|
|
Current ratio |
1.38 |
1.32 |
1.04 |
1.03 |
1 |
|
|
Sales/Net Working
Capital |
3.68 |
4.07 |
25.31 |
34.13 |
-121507.40 |
|
|
Gearing % |
2.10 |
2.20 |
5.40 |
6.40 |
5.90 |
|
|
Equity in % |
38.70 |
35.80 |
19 |
16.20 |
14.90 |
|
|
Creditor Days |
29.79 |
30.90 |
31.09 |
26.05 |
29.33 |
|
|
Debtor Days |
255.60 |
259.17 |
258.20 |
249.10 |
255.43 |
|
|
Liquidity/Acid
Test |
1.22 |
1.17 |
0.92 |
0.93 |
0.89 |
|
|
Return On Capital
Employed % |
30.88 |
27.76 |
50.74 |
59.97 |
64.79 |
|
|
Return On Total
Assets Employed % |
12.17 |
10.12 |
10.11 |
10.34 |
10.20 |
|
|
Current Debt Ratio |
1.56 |
1.77 |
4.23 |
5.10 |
5.66 |
|
|
Total Debt Ratio |
1.59 |
1.80 |
4.28 |
5.17 |
5.72 |
|
|
Stock Turnover
Ratio % |
11.33 |
11.22 |
11.30 |
9.02 |
10.22 |
|
|
Return on Net
Assets Employed % |
31.53 |
28.36 |
53.46 |
63.82 |
68.64 |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Commentary
|
CCJ recorded
against the company. |
|
|
Sales in the
latest trading period increased 4.6% on the previous trading period. |
|
|
Net Worth
increased by 10.8% during the latest trading period. |
|
|
A 2.4% growth in
Total Assets occurred during the latest trading period. |
|
|
Pre-tax profits
increased by 23.2% compared to the previous trading period. |
|
|
The company saw an
increase in their Cash Balance of 11.4% during the latest trading period. |
|
|
The audit report
contains no adverse comments. |
|
|
The company has
undergone recent changes in its directorships. |
|
|
The company is
part of a group. |
|
|
The company was
established over 92 years ago. |
|
Status History
|
No Status History
found |
Event History
|
Date |
Description |
|
25/03/2014 |
New Board Member
Mrs C.J. Massingham appointed |
|
09/12/2013 |
New Accounts Filed |
|
09/12/2013 |
New Accounts Filed |
|
07/11/2013 |
Mr A. White has
left the board |
|
10/08/2013 |
Annual Returns |
|
30/07/2013 |
New Board Member
Ms A.L. Spindler appointed |
|
23/07/2013 |
New Board Member
Ms A.L. Spindler appointed |
|
28/03/2013 |
New Board Member
Mr N. Alliance appointed |
|
18/02/2013 |
New Board Member
Mr J.H. Fogwill appointed |
|
15/02/2013 |
New Board Member
Ms L.E. Quinn appointed |
|
03/12/2012 |
New Accounts Filed |
|
10/10/2012 |
Mr P.N. Short has
left the board |
|
28/07/2012 |
Annual Returns |
|
29/02/2012 |
Mr J. Hinchcliffe
has left the board |
|
18/01/2012 |
Mr K.J. Risk has
left the board |
Previous Company Names
|
No Previous Names
found |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.26 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.