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Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
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Name : |
MARMOLES Y SERVICIOS S A |
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|
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Registered Office : |
Carrera 56 Nro. 62 – 75 Medellin, Antioquia |
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Country : |
Colombia |
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|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
26.02.1988 |
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Legal Form : |
Stock Company |
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Line of Business : |
Import, processing, marketing, design, distribution and sale of marble and natural stone, artificial stones and related materials |
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No. of Employees : |
55 |
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 |
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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) |
|
Colombia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COLOMBIA - ECONOMIC OVERVIEW
Colombia's consistently sound economic policies and aggressive promotion of free trade agreements in recent years have bolstered its ability to face external shocks. Real GDP has grown more than 4% per year for the past three years, continuing almost a decade of strong economic performance. All three major ratings agencies have upgraded Colombia's government debt to investment grade. Nevertheless, Colombia depends heavily on energy and mining exports, making it vulnerable to a drop in commodity prices. Colombia is the world’s fourth largest coal exporter and Latin America’s fourth largest oil producer. Economic development is stymied by inadequate infrastructure and an uncertain security situation. Moreover, the unemployment rate of 9.7% in 2013 is still one of Latin America's highest. The SANTOS Administration's foreign policy has focused on bolstering Colombia's commercial ties and boosting investment at home. The US-Colombia Free Trade Agreement (FTA) was ratified by the US Congress in October 2011 and implemented in 2012. Colombia has signed or is negotiating FTAs with a number of other countries, including Canada, Chile, Mexico, Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, China, Costa Rica, Panama, and Israel. Colombia is also a founding member of the Pacific Alliance—a group formed in 2012 among Chile, Colombia, Mexico, and Peru to promote regional trade and integration. In 2013, Colombia began its ascension process to the OECD. The annual level of foreign direct investment - notably in the oil and gas sectors - reached $10 billion in 2008 but dropped to $7.2 billion in 2009, before beginning to recover in 2010, and reached a record high of nearly $16 billion in 2012. Inequality, poverty, and narcotrafficking remain significant challenges, and Colombia's infrastructure requires major improvements to sustain economic expansion
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Source
: CIA |
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IDENTIFICATION |
|
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COMPANY NAME |
MARMOLES Y SERVICIOS S A |
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TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
800026509-1 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Carrera 56 Nro. 62 - 75 |
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CITY/PROVINCE/STATE |
Medellin, Antioquia. |
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PHONE NUMBER(S) |
(57-4) 448.1050/ 512.1050 |
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FAX NUMBER |
(57-4) 511.4823 |
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|
contabilidad3@marmolesyservicios.com |
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WEB SITE |
www.marmolesyservicios.com |
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CR-RATING |
LOW RISK |
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COMMENTS OF IDENTIFICATION.- |
Another e-mail: comercial@marmolesyservicios.com This report was ordered with address: Carrera 56 No 62-75 Medellin City Colombia. Please be noted that the complete and correct address of the subject is as shown above. |
|
BOARD OF DIRECTORS-EXECUTIVES |
||
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NAME |
JOB TITLE |
% STAKE |
|
HUMBERTO ROZO, GALVIS |
Legal Representative |
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RROYAVE VELEZ, LUZ MERY A |
1° Alternate Legal Rep. |
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ROZO ALVAREZ, JORGE HUMBERTO |
2° Alternate Legal Rep. |
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BUITRAGO OROZCO, JUAN FELIPE |
Tax Auditor |
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MILKES BELTRAN, TATIANA ANDREA |
Alternate Tax Auditor |
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SANCHEZ GOMEZ, PIEDAD VIVIANA |
Accountant |
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ALVAREZ CARDONA, LUZ ENITH |
2nd Main Board of Directors |
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ROZO ALVAREZ LUZ ADRIANA |
2nd Substitute Board of Directors |
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ROZO TREJOS, JANE ALEXANDRA |
3rd Substitute Board of Directors |
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No negative information found.
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PAID-UP CAPITAL |
Ps$1,300,000,000.00 Pesos |
PAYMENT INFORMATION
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PAYMENT HISTORY |
EP. E: WITHOUT CREDIT EXPERIENCE |
|
% CASH SALES/PAYMENT METHOD |
70% |
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% CREDIT SALES/TERMS |
30% (Terms at 15 - 30 days) |
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TERRITORY OF SALES |
100% (Domestic Market) |
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% LOCAL PURCHASING |
5% |
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% FOREIGN PURCHASING |
95% |
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COMMENTS OF OPERATIONS.- |
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|
It imports from China, Czech Republic, Brazil, Spain, Turkey, Pakistan, Peru. Likewise, it exports to Honduras. |
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IMPORTS |
|
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YEAR |
2012 |
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AMOUNT |
US$ 641,177.80 |
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|
YEAR |
2011 |
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AMOUNT |
US$ 1,133,240.29 |
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YEAR |
2010 |
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AMOUNT |
US$ 1,309,404.33 |
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EXPORTS |
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|
YEAR |
2010 |
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AMOUNT |
US$ 2,251.00 |
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LOCAL SUPPLIERS |
||
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Name |
Contact |
Telephone |
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AGENCIA DE ADUANAS COLMAS LTDA NIVEL |
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FOREIGN SUPPLIERS |
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Name |
Contact |
Telephone/fax |
Country |
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CAJUGRAM GRANITOS E MARMOLES DO BRASIL LTD |
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BRAZIL |
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GRANITO ZUCCHI LTDA |
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BRAZIL |
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FOSHAN SANDEN ENTERPRISE CO LTD |
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CHINA |
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DONG YONGXING IMP Y EXP CO LTD |
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CHINA |
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SUZHOU STONEMATE MACHINERY CO LTD |
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CHINA |
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MARBRASA MARMOLES E GRANITOS DO BRASIL LTD |
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BRAZIL |
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AGRAMAR S N C |
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ITALY |
N/a
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FINANCIAL INFORMATION |
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CONTENT.- |
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During our investigation, we interviewed Ms. Piedad Sanchez (Accountant) who kindly supplied business information regarding the subject and declined to provide financial information regarding the subject on grounds of confidentiality. Through external sources, we obtained its General Balance Sheet as of 31/12/2012 (12 months) expressed in Pesos which figures are: |
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GENERAL BALANCE
SHEET |
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Balance Date |
31/12/2012 |
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Currency |
Peso |
|
|
|
Exchange Rate |
1,774.50 |
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.Current Total |
6,291,542,000.00 |
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.Net Fixed |
2,716,431,000.00 |
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.Total Assets |
9,007,973,000.00 |
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.Total Current Liabilities |
5,556,584,000.00 |
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.Long Term Accounts |
1,142,562,000.00 |
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Total Liabilities |
6,699,146,000.00 |
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Total Equity |
2,308,827,000.00 |
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Total Liabilities and Equity |
9,007,973,000.00 |
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PROFIT AND LOSS
ACCOUNT |
|||
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Balance Date |
31/12/2012 |
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Currency |
Peso |
|
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Exchange Rate |
1,774.50 |
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Net Sales |
8,118,588,000.00 |
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Net Income(Net Loss) |
-67,833,000.00 |
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RATIOS FINANCIAL |
|||
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PERIOD |
2,012.00 |
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.NET WORKING CAPITAL |
734,958,000.00 |
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.LIQUIDITY RATIO |
1.13 |
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.CONTENTS OF THE ACID TEST |
0.00 |
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.INDEBTEDNESS |
1.34 |
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.LIABILITIES, CAPITAL |
0.00 |
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.TOTAL ASSET TURNOVER |
0.90 |
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.RETURN ON EQUITY |
0.00 |
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.NET RETURN ON SALES |
0.00 |
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FINANCIAL
COMMENTS.- |
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COUNTRY CONTEXT - COLOMBIA: The below Country comments were obtained from a highly regarded public source that issues economic comments on all of World` s countries. Taxes:? Colombian income tax: 38.5% on the net profit-business:. ? Tax agreements with the Andean Community and Spain which allow residents in this countries to have a special tax treatment. ? Alphabetic currency code for every country, established by the International Organization for Standardization (ISO) 4217: Colombian Peso (COP) Main economic indicators:? External debt: US $73.41 billion (31 December 2012 est.)? International reserves: US$34.74 billion (31 December 2012 est.)? Inflation rate forecasted: 3.2% (2012 est.)? GDP growth rate: 4.3% (2012 est.)? Annual GDP per capita: US$10,700 (2012 est.)? GDP - composition by sector: agriculture: 6.8% industry: 38.1% services: 55.1% (2012 est.)? Labour force of 23.08 million people divided by: agriculture: 18% industry: 13% services: 68%? Unemployment rate: 10.3% (2012 est.) Productive sectors: Agriculture - products: coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; shrimp; forest products? Industrial- products: textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds Foreign trade: Exports: US$59.96 billion (2012 est.) country comparison to the world: 55 Exports - commodities: petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel Exports - partners: US 42%, Netherlands 4.7%, China 4.2% (2011) Imports: US$55.49 billion (2012 est.) country comparison to the world: 54 Imports - commodities: industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity Imports - partners: US 29.2%, China 11.9%, Mexico 11.5%, Brazil 5.3% (2011) Final brief: Commercial Country Risk: MEDIUM Political Country Risk: LOW |
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DETAILS OF FIXED
ASSETS.- |
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Main assets include: - Plant - Machinery and equipment - Office equipment - Fittings - Tools among others for a total amount of Ps$1,661,566,000.00 Pesos |
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RATE OF EXCHANGE |
US$1.00 = Ps$2030.00 as of report date |
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LEGAL ASPECTS |
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
26/02/1988 |
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REGISTERED IN |
Medellin |
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DURATION |
26/09/2031 |
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REGISTRATION |
Certificate 21-118-506-4 / File 55095 |
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NET WORTH |
Ps$2,308,827,000.00 Pesos (31/12/2012) |
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LISTED AT STOCK EXCHANGE |
NO |
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OPERATIONS |
|
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SECTOR |
3.-TRADE ( WHOLESALE AND RETAIL) |
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ACTIVITY |
MARBLE/GRANITE |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
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MAIN ACTIVITY |
Import, processing, marketing, design, distribution and sale of marble and natural stone, artificial stones and related materials. |
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N. OF EMPLOYEES |
55 approximately |
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LOCATION |
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ADMINISTRATIVE OFFICES, COMMERCIAL PREMISES, Located at captioned address in a business zone of the city of easy access. Premises are kept in good repair. SALES PREMISES: Centro Comercial Univentas Carrera. 42 (autopista sur) No. 75-83, Local 116 1º piso y 277 2º piso. PBX: 57-4-4481050 |
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BANK COMENTS |
|
Consulted banks do not give any information of their clients due to bank secrecy. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
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 |
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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.