MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
L'ACCESSORIO S.R.L. |
|
|
|
|
Registered Office : |
Via Francesco Ferrucci, 57 59100 – Prato
(PO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.12.1990 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Various manufacture and accessories for apparel |
|
|
|
|
No. of Employees |
from 36 to 50 |
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 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified industrial economy, which is divided
into a developed industrial north, dominated by private companies, and a
less-developed, highly subsidized, agricultural south, where unemployment is higher.
The Italian economy is driven in large part by the manufacture of high-quality
consumer goods produced by small and medium-sized enterprises, many of them
family-owned. Italy also has a sizable underground economy, which by some
estimates accounts for as much as 17% of GDP. These activities are most common
within the agriculture, construction, and service sectors. Italy is the
third-largest economy in the euro-zone, but its exceptionally high public debt
and structural impediments to growth have rendered it vulnerable to scrutiny by
financial markets. Public debt has increased steadily since 2007, topping 133%
of GDP in 2013, but investor concerns about Italy and the broader euro-zone
crisis eased in 2013, bringing down Italy's borrowing costs on sovereign
government debt from euro-era. The government still faces pressure from
investors and European partners to sustain its efforts to address Italy's
long-standing structural impediments to growth, such as labor market
inefficiencies and widespread tax evasion. In 2013 economic growth and labor
market conditions deteriorated, with growth at -1.8% and unemployment rising to
12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007
pre-crisis level.
|
Source
: CIA |
Company
name and address
L'ACCESSORIO S.R.L.
Via Francesco Ferrucci, 57
59100 – Prato (PO)
-IT-
Summary
|
Fiscal Code |
: |
01582410971 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
18/12/1990 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 36 to 50 |
|
n.b.: The Creditworthness Rate shows, in percentage, the ratio between
the suggested credit opinion and the credit amount that the firm could get if
the financial situation would be completely positive. |
Activity
Various manufacture and accessories for apparel
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 01582410971 |
|
Foreign Trade Reg. no. : PO008222 since 03/01/1992 |
|
Chamber of Commerce no. : 93697 of Belluno |
|
Chamber of Commerce no. : 432968 of Firenze |
|
Chamber of Commerce no. : 212787 of Lucca |
|
Chamber of Commerce no. : 1407287 of Milano |
|
Chamber of Commerce no. : 432968 of Prato since 08/03/1991 |
|
Firms' Register : PO005-17522 of Prato since 19/02/1996 |
|
V.A.T. Code : 01582410971 |
|
Foundation date |
: 18/12/1990 |
|
|
Establishment date |
: 18/12/1990 |
|
|
Start of Activities |
: 18/12/1990 |
|
|
Legal duration |
: 31/12/2040 |
|
|
Nominal Capital |
: 400.000 |
|
|
Subscribed Capital |
: 400.000 |
|
|
Paid up Capital |
: 400.000 |
Members
|
|
Sarti |
Monica |
|
|
Born in Prato |
(FI) |
on 23/11/1971 |
- Fiscal Code : SRTMNC71S63G999V |
|
|
Residence: |
Trento |
, 10 |
- 50139 |
Firenze |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
15/03/2010 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Sarti |
Federico |
|
|
Born in Prato |
(FI) |
on 27/01/1979 |
- Fiscal Code : SRTFRC79A27G999F |
|
|
Residence: |
Guido Bisori |
, 54/1 INT |
- 59100 |
Prato |
(PO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/03/2010 |
|
|
Lucchesi |
Anna Gabriella |
|
|
Born in Prato |
(FI) |
on 19/11/1944 |
- Fiscal Code : LCCNGB44S59G999S |
|
|
Residence: |
Pier Della Francesca |
, 26 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/03/2010 |
|
|
Pratoalta S.a.p.a. Di Sarti Roberto E C. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies
connected to members *
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have holded
positions.
|
|
Sarti |
Monica |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Lanificio Faliero Sarti E Figli s.r.l. |
Campi Bisenzio (FI) - IT - |
03056090487 |
Managing Director |
Withdrawn |
Registered |
|
Pitti Immagine S.r.l. |
Firenze (FI) - IT - |
03443240480 |
Director |
Active |
Registered |
|
T'acc S.r.l. |
Prato (PO) - IT - |
02032560977 |
Managing Director |
Withdrawn |
Registered |
|
T'acc S.r.l. |
Prato (PO) - IT - |
02032560977 |
Sole Director |
Active |
Registered |
|
T'acc S.r.l. |
Prato (PO) - IT - |
02032560977 |
Board Chairman |
Withdrawn |
Registered |
The indication "REGISTERED" as Firm Status could refer to
Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request further
investigations.
Capital
Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Sarti Monica |
Firenze - IT - |
SRTMNC71S63G999V |
200.000 .Eur |
50,00 |
|
Pratoalta S.a.p.a. Di Sarti Roberto E C. |
01610200972 |
200.000 .Eur |
50,00 |
Direct
Participations
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Firenze Fashion |
Empoli - IT - |
04022710489 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Francesco Ferrucci |
, 57 |
- 50047 |
- Prato |
(PO) |
- IT - |
|
Total Surface: 48 Sq.mt. |
|
PHONE |
: 0558966250 |
|
FAX |
: 055890604 |
|
- |
Branch |
(office) |
since 31/05/1991 |
|
Alfieri |
, 88 |
- 50013 |
- Campi Bisenzio |
(FI) |
- IT - |
|
PHONE |
: 0558966250 |
|
PHONE |
: 0558970656 |
|
Email |
: www.falierosarti.it |
|
- |
Branch |
(Shop) |
since 13/12/2008 |
|
Xxix Maggio |
, 10 |
- 32043 |
- Cortina d'Ampezzo |
(BL) |
- IT - |
|
Total Surface: 48 Sq.mt. |
|
- |
Branch |
since 01/12/2004 |
|
Alfieri |
- 50013 |
- Campi Bisenzio |
(FI) |
- IT - |
|
- |
Branch |
(Shop) |
since 01/11/2008 |
|
Della Spada |
, 24/R |
- 50100 |
- Firenze |
(FI) |
- IT - |
|
Total Surface: 48 Sq.mt. |
|
- |
Branch |
(Shop) |
since 28/04/2012 |
|
Roma |
, 1/D |
- 55042 |
- Forte dei Marmi |
(LU) |
- IT - |
|
Trading Style: FALIERO SARTI |
|
Total Surface: 35 Sq.mt. |
|
- |
Branch |
(Shop) |
since 08/09/2011 |
|
Solferino |
, 11 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
Trading Style: FALIERO SARTI |
|
- |
Branch |
(Shop) |
|
San Marco Loc. Porto Rotondo |
, 2 |
- 07026 |
- Olbia |
(SS) |
- IT - |
|
Employees |
: 38 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of 150.000 |
Eur |
|
Stocks for a value of 4.830.000 |
Eur |
Sells by pluri-mandatory agents.
Sales are on international scale
Company generally pays its suppliers within 30/90 days.
Main used payment modalities are by cash orders and bank transfers.
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Sarti |
Monica |
|
|
Born in Prato |
(FI) |
on 23/11/1971 |
- Fiscal Code : SRTMNC71S63G999V |
|
|
Residence: |
Trento |
, 10 |
- 50139 |
Firenze |
(FI) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Managing Director |
|
|
Magnolfi |
Massimo |
|
|
Born in Prato |
(FI) |
on 20/05/1959 |
- Fiscal Code : MGNMSM59E20G999P |
|
|
Residence: |
B. Buozzi |
, 19 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Barni |
Stefano |
|
|
Born in Prato |
(FI) |
on 01/04/1959 |
- Fiscal Code : BRNSFN59D01G999L |
|
|
Residence: |
F.lli Giachetti |
, 12 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Sarti |
Roberto |
|
|
Born in Prato |
(FI) |
on 23/07/1942 |
- Fiscal Code : SRTRRT42L23G999M |
|
|
Residence: |
Gioica Di Sopra |
, 15 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
Director |
|
|
Sarti |
Roberto |
|
|
Born in Prato |
(FI) |
on 23/07/1942 |
- Fiscal Code : SRTRRT42L23G999M |
|
|
Residence: |
Giolica Di Sopra |
, 15 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
|
Sarti |
Paolo |
|
|
Born in Prato |
(FI) |
on 21/08/1955 |
- Fiscal Code : SRTPLA55M21G999B |
|
|
Residence: |
Della Torretta |
, 9/1 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Managing Director |
|
|
Conti Salvatore |
|
|
Born in Napoli |
(NA) |
on 14/11/1953 |
- Fiscal Code : CNTSVT53S14F839J |
|
|
Fiscal residence: |
della Liberazione |
, 44 |
- 50047 |
Prato |
(FI) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
Rossi |
Riccardo |
|
|
Born in Prato |
(FI) |
on 04/10/1957 |
- Fiscal Code : RSSRCR57R04G999P |
|
|
Residence: |
Fratelli Ventura |
, 8 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Vivarelli |
Paolo |
|
|
Born in Firenze |
(FI) |
on 23/07/1975 |
- Fiscal Code : VVRPLA75L23D612N |
|
|
Residence: |
Vai Arrigo Del Rigo |
, 33 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Affortunati |
Stefano |
|
|
Born in Firenze |
(FI) |
on 04/01/1977 |
- Fiscal Code : FFRSFN77A04D612Y |
|
|
Residence: |
Fra' Bartolomeo |
, 253 |
- 59100 |
Prato |
(PO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
Protests
Protests checking on the subject firm has given a negative result.
Data
Base Prejudicial Events Search
Search performed on a National Scale
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal
Procedures
None reported, standing to the latest received edition of the Official
Publications.
Financial and Economical Analysis
Company's starting of activities dates back to 1990.
Balance sheets for the years 2010, 2011 and 2012 were analyzed.
During the last years, it achieved profits (r.o.e. 35,17% on 2012) with
a good increase in turnover (+12,09% in 2012 compared to 2011 and +24,76% in
2011 compared to 2010).
The operating result in 2012 was positive (33,97%) and is higher than
the sector's average.
The amount of the operating result for the year 2012 is of Eur.
7.279.312 with no increase in relation to the financial year 2011.
A gross operating margine for a value of Eur. 7.607.290 was reached. on
the same levels as the previous financial year.
Indebtedness is scanty since debts are lower than liquidity.
The equity capital is equal to Eur. 13.887.606 , unchanged as opposed to
the preceding year.
Total debts (both short and M/L term) equals Eur. 5.431.031, , with no
sensible variation.
Moderate recourse to bank credit while the exposure towards suppliers is
rather high even if it still falls within the sector's average.
The available funds are good.
Accounts receivable average term is 25,31 days. , a better value than
the sector's average.
2012 financial year closed with a cash flow of Eur. 5.121.343
Labour cost amounts to Eur. 1.970.631, with a 9,71% incidence on
production costs. , whereas the incidence on sales revenues is of 7,4%.
Financial incomes cover financial charges.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
26.645.294 |
|
Profit (Loss) for the period |
4.883.955 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.769.223 |
|
Profit (Loss) for the period |
4.983.768 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
19.051.648 |
|
Profit (Loss) for the period |
3.595.744 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
16.295.683 |
|
Profit (Loss) for the period |
2.687.002 |
|
|
Complete balance-sheet for the year |
al 31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.840.400 |
|
Profit (Loss) for the period |
2.558.729 |
Balance
Sheets
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2012 |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,09 |
0,06 |
0,02 |
0,14 |
|
Elasticity Ratio |
Units |
0,91 |
0,94 |
0,98 |
0,84 |
|
Availability of stock |
Units |
0,23 |
0,20 |
0,18 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,68 |
0,73 |
0,80 |
0,53 |
|
Quick Ratio |
Units |
0,55 |
0,56 |
0,62 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
n.c. |
n.c. |
n.c. |
3,78 |
|
Self Financing Ratio |
Units |
0,65 |
0,66 |
0,63 |
0,17 |
|
Capital protection Ratio |
Units |
0,62 |
0,63 |
0,58 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,06 |
0,04 |
0,06 |
0,14 |
|
Financing |
Units |
0,39 |
0,40 |
0,42 |
4,55 |
|
Permanent Indebtedness Ratio |
Units |
0,66 |
0,67 |
0,65 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,02 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
1,26 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
7,41 |
11,00 |
38,58 |
1,87 |
|
Current ratio |
Units |
3,58 |
3,61 |
3,65 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
2,69 |
2,82 |
2,97 |
0,79 |
|
Structure's primary quotient |
Units |
7,25 |
10,82 |
37,61 |
1,13 |
|
Treasury's primary quotient |
Units |
2,18 |
2,14 |
2,30 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
154,28 |
152,19 |
157,98 |
587,75 |
|
Current Capital ( net ) |
Value |
14.014.883 |
14.953.353 |
10.722.321 |
209.248 |
|
RETURN |
|||||
|
Return on Sales |
% |
19,22 |
22,05 |
19,18 |
2,26 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
35,17 |
34,36 |
37,77 |
3,48 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
55,08 |
50,72 |
55,98 |
12,19 |
|
Return on Investment ( R.O.I. ) |
% |
33,97 |
32,65 |
35,17 |
3,83 |
|
Return/ Sales |
% |
27,32 |
30,32 |
27,76 |
3,45 |
|
Extra Management revenues/charges incid. |
% |
67,09 |
69,14 |
67,99 |
20,46 |
|
Cash Flow |
Value |
5.121.343 |
5.241.451 |
3.654.956 |
50.400 |
|
Operating Profit |
Value |
7.279.312 |
7.207.872 |
5.288.868 |
68.610 |
|
Gross Operating Margin |
Value |
7.607.290 |
7.751.184 |
5.348.594 |
124.742 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
25,31 |
47,21 |
40,84 |
120,68 |
|
Debts to suppliers average term |
Days |
101,18 |
102,00 |
97,22 |
115,81 |
|
Average stock waiting period |
Days |
65,21 |
67,96 |
52,28 |
78,40 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,24 |
1,08 |
1,27 |
1,14 |
|
Rate of stock return |
Units |
5,52 |
5,30 |
6,89 |
4,57 |
|
Labour cost incidence |
% |
7,40 |
6,32 |
7,46 |
12,27 |
|
Net financial revenues/ charges incidence |
% |
1,19 |
0,63 |
0,21 |
-1,84 |
|
Labour cost on purchasing expenses |
% |
9,71 |
8,33 |
10,35 |
12,16 |
|
Short-term financing charges |
% |
0,00 |
n.c. |
0,11 |
3,35 |
|
Capital on hand |
% |
80,41 |
92,86 |
78,94 |
87,41 |
|
Sales pro employee |
Value |
710.541 |
713.790 |
635.054 |
245.343 |
|
Labour cost pro employee |
Value |
52.550 |
45.106 |
47.369 |
32.046 |
Risk
Analysis (Score)
On the base of precise indicators as "Activity sector",
"Area", "Firm's foundation", "Payment
analysis","Profitability", we analysed the companies included in
the same activity sector of subject company, classifying them by their own risk
score.
The company under review falls within the range of Very low risk.
Remarks
1) Protests checking (relative to the last five years) performed by
crossing and matching the members names and the Firm's Style with the reported
addresses, is supplied by the Informatic Registry managed by the Italian
Chamber of Commerce. If the fiscal code is not indicated, the eventual
homonymous cases are submitted to expert staff evaluation in order to limit
wrong matching risks.
2) The Legal Data, supplied and retrived from the Firm's Registry of the
Italian Chamber of Commerce, are in line with the last registered
modifications.
3) Risk evaluation and Credit Opinion have been performed on the base of
the actual data at the moment of their availability.
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a base of 864 significant companies.
The companies cash their credits on an average of 121 dd.
The average duration of suppliers debts is about 116 dd.
The sector's profitability is on an average of 2,26%.
The labour cost affects the turnover in the measure of 12,27%.
Goods are held in stock in a range of 78 dd.
The difference between the sales volume and the resources used to
realize it is about 1,14.
The employees costs represent the 12,16% of the production costs.
Statistical
Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 2.055.
The insolvency index for the region is 0,70, , while for the province it
is 0,88.
Total Bankrupt companies in the province : 3.109.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.12 |
|
UK Pound |
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.