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Report No. : |
335602 |
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Report Date : |
10.08.2015 |
IDENTIFICATION DETAILS
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Name : |
ULMA FORJA SDAD COOP - ULMA PIPING |
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Registered Office : |
Bº Zubillaga 3 - Onati - Guipuzcoa |
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Country : |
Spain |
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Financials (as on) : |
2014 (Estimation) |
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Date of Incorporation : |
01.05.1962 |
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Legal Form : |
Cooperative |
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Line of Business : |
Subject is engaged in fabrication and design of industrial supplies, basically, forged
metallic pieces designated to petrochemical industry to lead fluids and gases:
flanges of forged steel, high pressure fittings, separated washer, palettes
and special pieces of forging. |
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|
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No. of Employees : |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Spain |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SPAIN - ECONOMIC OVERVIEW
After experiencing
a prolonged recession in the wake of the global financial crisis that began in
2008, in 2014 Spain marked the first full year of positive economic growth in
seven years, largely due to increased private consumption. At the onset of the
global financial crisis Spain's GDP contracted by 3.7% in 2009, ending a
16-year growth trend, and continued contracting through most of 2013. In 2013
the government successfully shored up struggling banks - exposed to the
collapse of Spain's depressed real estate and construction sectors - and in
January 2014 completed an EU-funded restructuring and recapitalization program.
Until
2014, credit contraction in the private sector, fiscal austerity, and high
unemployment weighed on domestic consumption and investment. The unemployment
rate rose from a low of about 8% in 2007 to more than 26% in 2013, but labor
reforms prompted a modest reduction to 23.7% in 2014. High unemployment
strained Spain's public finances, as spending on social benefits increased
while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2010,
but Spain gradually reduced the deficit to just under 7% of GDP in 2013-14,
slightly above the 6.5% target negotiated between Spain and the EU. Public debt
has increased substantially – from 60.1% of GDP in 2010 to more than 97% in
2014.
Exports
were resilient throughout the economic downturn and helped to bring Spain's
current account into surplus in 2013 for the first time since 1986, where it
remained in 2014. Rising labor productivity and an internal devaluation
resulting from moderating labor costs and lower inflation have helped to
improve foreign investor interest in the economy and positive FDI flows have
been restored.
The
government's efforts to implement labor, pension, health, tax, and education
reforms - aimed at supporting investor sentiment - have become overshadowed by
political activity in 2015 in anticipation of the national parliamentary
elections in November. Spain’s 2015 budget, published in September 2014, rolls
back some recently imposed taxes in advance of the elections and leaves
untouched the country’s value-added tax (VAT) regime, which continues to
generate significantly lower revenue than the EU average. Spain’s borrowing
costs are dramatically lower since their peak in mid-2012, and despite the
recent uptic in economic activity, inflation has dropped sharply, from 1.5% in
2013 to nearly flat in 2014.
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Source
: CIA |
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Name |
ULMA FORJA SDAD COOP - ULMA PIPING |
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NIF / Fiscal code: |
F20025250 |
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Legal form: |
Cooperative |
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Status: |
Active |
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Location: |
Bº ZUBILLAGA 3 - OÑATI -
GUIPUZCOA |
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Telephone: |
943780552 |
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Partners: |
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GRUPO ULMA SDAD COOP |
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Activity: |
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NACE: |
2550 - Forging, pressing,
stamping and roll-forming of metal; powder metallurgy |
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Size: |
Medium |
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Commercial scope: |
International |
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Import / export: |
Import: Yes, Export: Yes |
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Employees: |
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. |
Financial
Year |
Number
of Employees |
. |
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. |
2015 |
180 |
. |
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Insolvency Risk: |
2,6 % |
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Legal Claims: |
No |
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Business trend: |
Stable |
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Prospects: |
Establish an after-sale
service |
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Industry situation: |
Maturity |
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Economic-financial data |
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. |
Financial
Year |
Turnover |
. |
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. |
2012 |
70000000 |
. |
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. |
2013 |
71000000 |
. |
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. |
S |
73000000 |
. |
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Total investments: |
50000000 |
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Unit: |
Euros |
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Guarantees: |
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Properties Registered: |
YES |
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Type of professional premises: |
Owned |
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INVESTIGATION SUMMARY |
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Medium-size familiar
partnership engaged in industrial supplies manufacturing, part of the
industrial group Ulma. At the same time, Ulma is part of Grupo Mondragón, which
has been running for several years having no incidence registered. |
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NIF / Fiscal code |
00000000T |
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Name |
ULMA FORJA |
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Address |
S COOP B ZUBILLIAGA 3 APDO 14 |
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City |
ONATI |
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Province |
GUIPUZCOA |
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Postcode |
20560 |
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Telephone |
943780552 |
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Company name / Name of the subject |
ULMA FORJA SDAD COOP |
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Acronym |
ULMA PIPING |
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Legal form |
Cooperative |
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NIF / Fiscal code |
F20025250 |
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Status |
Active |
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Start of activity |
01/05/1962 |
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Name of the maximum responsible |
MEDINA CARRANZA, IGNACIO |
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Position of the maximum responsible |
CHAIRMAN |
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Professional address |
Bº ZUBILLAGA 3 |
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City |
OÑATI |
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Province |
GUIPUZCOA |
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Postcode |
20560 |
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Type of premises |
Owned |
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Telephone |
943780552 |
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Fax |
943781808 |
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Website |
www.ulmapiping.com |
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Email |
forja@ulmapiping.com |
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Other former or related addresses |
rarteche@ulmapiping.com
APARTADO CORREOS 14 20560 OÑATI (GUIPUZCOA) |
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Name |
Fiscal code |
Participation percentage |
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GRUPO
ULMA SDAD COOP |
F20544326 |
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NACE |
2550 |
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Description of the NACE code |
Forging, pressing, stamping
and roll-forming of metal; powder metallurgy |
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Comment about the activity |
Fabrication and design of
industrial supplies, basically, forged metallic pieces designated to
petrochemical industry to lead fluids and gases: flanges of forged steel,
high pressure fittings, separated washer, palettes and special pieces of
forging. Integrated in the industrial group Ulma, which is at the same time
is integrated in the Group Mondragón Corporación Cooperativa – MCC. Used
firms: - ULMA PIPING DEPENDENCIEs Bº Zubillaga 3 20560 Oñati (Guipúzcoa),
registered office, factory, storehouse, offices, attributes in property.
GOVERNING COUNSIL President MEDINA CARRANZA IÑAKI General Director GABILONDO
MUGARZA IÑAKI |
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Franchise |
No |
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% National commercial scope |
10% |
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% International commercial scope |
90% |
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Business size |
Medium |
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Import |
Yes |
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Export |
Yes |
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Industry situation |
Maturity |
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Business trend |
Stable |
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Prospects |
Establish an after-sale
service |
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Year |
Number of Employees |
Fixed employees % |
Part time employees % |
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2015 |
180 |
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Slow but correct |
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According to the references
consulted, it runs normally, having no incidences registered. |
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Comments about the risk and its evolution |
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A moderate risk has remained
in the last financial year |
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According to official sources, there are no legal claims
registered under the subject's name |
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Banks |
|||
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Bank
name |
Branch |
Address |
Telephone |
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BANCO
BILBAIO VIZCAYA ARGENTARIA |
OP |
OÑATI
(GUIPUZCOA) |
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BANCO
SABADELL |
OP |
OÑATI
(GUIPUZCOA) |
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CAJA
LABORAL POPULAR |
OP |
OÑATI
(GUIPUZCOA) |
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CAJA
RURAL NAVARRA |
OP |
OÑATI
(GUIPUZCOA) |
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CAIXABANK |
OP |
OÑATI
(GUIPUZCOA) |
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Bank references |
No data about its clients
according to references consulted. |
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It was not possible to determine the details of the clients with
which the subject deals. |
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It has not been possible to determine the details of the
suppliers who deal with the subject. |
(Estimation)
Data in: Thousand of euros
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ASSETS |
LIABILITIES |
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Tangible fixed assets |
20000 |
Capital |
|
|
Transport |
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Long term creditors |
5000 |
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Machinery and fittings |
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Long term debts with Banks |
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Buildings and constructions |
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Short term creditors |
17000 |
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Intangible fixed assets |
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Short term debts with credit
entities |
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Stock |
5000 |
Fondos propios |
17000 |
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Debtors |
15000 |
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Cash |
|
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TOTAL ASSETS |
50000 |
TOTAL LIABILITIES |
50000 |
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WORKING CAPITAL |
|
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SALES EVOLUTION |
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Financial Year 2012 |
70000 |
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Financial Year 2013 |
71000 |
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Financial Year 2014 |
73000 |
Medium-size partnership whose
path shows normality. Commercial well-being.
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It was impossible to confirm the information about the Board of Administration
from BORME (Mercantile Registry Gazette) |
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It has not been possibe to obtain information about the possible
participation as a Shareholder in other other trading companies. |
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Medium-size familiar partnership
engaged in industrial supplies manufacturing, part of the industrial group
Ulma. At the same time, Ulma is part of Grupo Mondragón, which has been
running for several years having no incidence registered. |
|
Investigation, Board of
Administration (according to registry), Public institution, Chamber of
Commerce, Internal/external DB, Subject |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
UK Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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|
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 |
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|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
NB |
New Business |
-- |
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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.