|
Report No. : |
306791 |
|
Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUGO BOSS AG |
|
|
|
|
Registered Office : |
Dieselstr. 12, D 72555 Metzingen |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
1923 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture of woven men's and boys' outerwear ·
Manufacture of other wearing apparel and
accessories n.e.c. ·
Wholesale of clothing ·
Other retail sale via mail-order houses or
Internet |
|
|
|
|
No. of Employees : |
2,835 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
GERMANY - ECONOMIC OVERVIEW
The German economy - the fifth
largest economy in the world in PPP terms and Europe's largest - is a leading
exporter of machinery, vehicles, chemicals, and household equipment and
benefits from a highly skilled labor force. Like its Western European
neighbors, Germany faces significant demographic challenges to sustained
long-term growth. Low fertility rates and declining net immigration are
increasing pressure on the country's social welfare system and necessitate
structural reforms. Reforms launched by the government of Chancellor Gerhard
SCHROEDER (1998-2005), deemed necessary to address chronically high
unemployment and low average growth, has contributed to strong growth and
falling unemployment. These advances, as well as a government subsidized,
reduced working hour scheme, help explain the relatively modest increase in
unemployment during the 2008-09 recession - the deepest since World War II -
and its decrease to 5.3% in 2013. The new German government introduced a
minimum wage of $11 per hour to take effect in 2015. Stimulus and stabilization
efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela
MERKEL's second term increased Germany's total budget deficit - including
federal, state, and municipal - to 4.1% in 2010, but slower spending and higher
tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a
budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the
federal government to structural deficits of no more than 0.35% of GDP per
annum as of 2016 though the target was already reached in 2012. Following the
March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in
May 2011 that eight of the country's 17 nuclear reactors would be shut down
immediately and the remaining plants would close by 2022. Germany hopes to
replace nuclear power with renewable energy. Before the shutdown of the eight
reactors, Germany relied on nuclear power for 23% of its electricity generating
capacity and 46% of its base-load electricity production.
|
Source
: CIA |
HUGO BOSS AG
Company Status: active
Dieselstr. 12
D 72555 Metzingen
Telephone:07123/94-0
Telefax: 07123/94-80259
Homepage:
www.hugoboss.com
E-mail: info@hugoboss.com
VAT no.: DE147164472
LEGAL FORM Public
limited company
Date of foundation: 1923
Registered on: 01.09.1948
Commercial Register: Local court 70190 Stuttgart
under: HRB 360610
Share capital:
EUR 70,400,000.00
The company
is listed on the stock market.
President of the Board of Directors:
Claus-Dietrich Lahrs
F Garches
born:
07.06.1963
Nationality:
French
Member of the Board of Directors:
Christoph
Auhagen
D 40472
Ratingen
born:
12.01.1960
Profession:
Businessman
Member of the Board of Directors:
Mark
Alexander Langer
Rankestr. 8
D 70619
Stuttgart
born:
11.07.1968
President of the Supervisory Board:
Dr. Helmut K.
Albrecht
Rondell
Neuwittelsbach 5
D 80639
München
born:
06.02.1940
Profession:
Business consultant
Marital
status: married
Vice-president of the Supervisory Board:
Antonio
Simina
D 72555
Metzingen
Member of the Supervisory Board:
Gert Bauer
D 72760 Reutlingen
born: 1949
Member of the Supervisory Board:
Dr. Martin
Weckwerth
Am
Leonhardsbrunn 16
D 60487
Frankfurt
born:
22.12.1967
Profession: mechanical engineer
educated to
degree level
Member of the Supervisory Board:
Bernd Simbeck
Amtäckerstr.
48
D 72555
Metzingen
Member of the Supervisory Board:
Gaetano
Marzotto
I Mailand
born:
21.12.1952
Nationality:
Italian
Member of the Supervisory Board:
Helmut Brust
D 72555
Metzingen
Member of the Supervisory Board:
Damon Marcus
Buffini
GB Surrey
Nationality:
British
Member of the Supervisory Board:
Monika
Lersmacher
D 70806 Kornwestheim
Member of the Supervisory Board:
Klaus P.
Maier
D 70173
Stuttgart
Member of the Supervisory Board:
Luca Marzotto
I Venedig
Nationality:
Italian
Member of the Supervisory Board:
Sinan Piskin
D 72555
Metzingen
Proxy:
Rainer Hägele
Im
Sitterbrunnen 6
D 72768
Reutlingen
born: 12.10.1958
Marital
status: single
Proxy:
Ingo Frank
Hesse
Richard-Wagner-Str. 53
D 70184
Stuttgart
authorized to
jointly represent the company
born:
16.12.1970
Profession:
Industrial manager
Proxy:
Judith Eckl
D 72764
Reutlingen
authorized to
jointly represent the company
born: 16.07.1972
Proxy:
Martin
Schneider
Sophienweg 4
D 72760
Reutlingen
born:
15.12.1965
Marital
status: unknown
Proxy:
Jörg Gerhard
Walter
Kleine Gasse
13
D 72820
Sonnenbühl
authorized to
jointly represent the company
born:
10.06.1960
Proxy:
Andreas
Schilski
D 73249 Wernau
authorized to
jointly represent the company
born:
09.08.1969
Proxy:
Heinz-Gerd
Freiherr von Podewils
D 72175
Dornhan
authorized to
jointly represent the company
born:
18.12.1968
born: Finke
Proxy:
Fridolin
Ferdinand Klumpp
CH Caslano
born:
02.01.1958
Nationality:
Swiss
Proxy:
Bernd Hartmut
Hake
GB London
authorized to
jointly represent the company
born:
11.07.1967
Nationality:
British
Proxy:
Katharina Steimle
D 72760
Reutlingen
authorized to
jointly represent the company
born:
25.11.1978
01.09.1948 - 05.06.2007 Hugo Boss
Aktiengesellschaft
Dieselstr. 12
D 72555
Metzingen
Public
limited company
Main industrial sector
14131 Manufacture of woven men's
and boys' outerwear
1419 Manufacture of other wearing
apparel and accessories n.e.c.
46421 Wholesale of clothing
47919 Other retail sale via
mail-order houses or Internet
Works:
HUGO BOSS AG
Johannesstr.
1
D 72584
Hülben
Works:
HUGO BOSS AG
Ottostr. 6
D 73037
Göppingen
Works:
HUGO BOSS AG
GR - Ort
unbekannt
Branch:
HUGO BOSS AG
Nürtinger Str. 1
D 72555
Metzingen
Branch:
HUGO BOSS AG
Dieselstr. 12
D 72555
Metzingen
Branch:
HUGO BOSS AG
Kanalstr. 6-8
D 72555
Metzingen
TEL.:
07123/94-2204
Branch:
HUGO BOSS AG
Kaiserswerther Str. 15
D 40477
Düsseldorf
TEL.:
0211/4708089
FAX.: 0211/4708192
Branch:
HUGO BOSS AG
Westfalendamm
265
D 44141
Dortmund
TEL.:
0231/718252
Branch:
HUGO BOSS AG
Wilhelm-Wagenfeld-Str. 24
D 80807
München
TEL.:
089/3066-840
FAX.:
089/3066-8471
Branch:
HUGO BOSS AG
Rosenthaler
Str. 49
D 10178
Berlin
TEL.:
030/28884550
Branch:
HUGO BOSS AG
Ulmer Str.
171
D 73240
Wendlingen
Branch:
HUGO BOSS AG
Speditionstr.
17
D 40221 Düsseldorf
TEL.:
0211/3032900
Limited partner:
ROSATA
Grundstücks-Vermietungsgesellschaft
mbH & Co.
Objekt Metzingen KG
Tölzer Str. 2
D 82031
Grünwald
Legal form:
Ltd partnership with priv. ltd.
company as general partner
Company
Status: active
Total
cap. EUR 3,426,260.00
contribution:
Share: EUR 3,425,660.00
Reg.
data: 11.12.2007
Local court 80333 München
HRA
91380
Limited partner:
BIL Leasing
Verwaltungs-GmbH & Co 869 KG
Emil-Riedl-Weg 6
D 82049
Pullach
Legal form:
Ltd partnership with priv. ltd.
company as general partner
Company
Status: active
Total
cap. EUR 3,430,768.52
contribution:
Share: EUR 3,221,138.85
Reg. data: 10.05.1999
Local court 80333 München
HRA 74424
Limited partner:
ROSATA
Grundstücks-Vermietungsgesellschaft
mbH & Co.
Objekt Dieselstraße KG
Tölzer Str. 2
D 82031
Grünwald
Legal form:
Ltd partnership with priv. ltd.
company as general partner
Company
Status: active
Total cap. EUR 600,600.00
contribution:
Share: EUR 600,000.00
Reg.
data: 06.12.2007
Local court 80333 München
HRA 91346
Limited partner:
HUGO BOSS
Trade Mark Management GmbH & Co.KG
Dieselstr. 12
D 72555
Metzingen
Legal form:
Ltd partnership with priv. ltd.
company as general partner
Company
Status: active
Total
cap. EUR 510,000.00
contribution:
Share: EUR 510,000.00
Reg.
data: 28.09.2004
Local court 70190 Stuttgart
HRA 361057
Limited partner:
Distributionszentrum
Vermietungsgesellschaft
mbH & Co.
Objekt HUGO BOSS Filderstadt KG
Emil-Riedl-Weg 6
D 82049
Pullach
Legal form:
Ltd partnership with priv. ltd.
company as general
partner
Company
Status: active
Total
cap. EUR 25,000.00
contribution:
Share: EUR 25,000.00
Reg.
data: 13.08.2013
Local court 80333 München
HRA 101099
Limited partner:
Gretana
Grundstücks-Vermietungsgesellschaft
mbH & Co. Objekt D 19 KG
Tölzer Str. 2
D 82031
Grünwald
Legal form:
Ltd partnership with priv. ltd.
company as general partner
Company Status:
active
Total
cap. EUR 10,000.00
contribution:
Share: EUR 10,000.00
Reg.
data: 01.08.2006
Local
court 80333 München
HRA 88430
Shareholder:
HUGO BOSS
Internationale Beteiligungs-GmbH
Dieselstr. 12
D 72555
Metzingen
Legal form:
Private limited company
Company
Status: active
Share
capital: EUR 1,000,000.00
Share: EUR 1,000,000.00
Reg.
data: 29.04.2005
Local court 70190 Stuttgart
HRB 361449
Shareholder:
HUGO BOSS
Beteiligungsgesellschaft mbH
Dieselstr. 12
D 72555
Metzingen
Legal form: Private limited company
Company
Status: active
Share
capital: EUR 510,000.00
Share: EUR 510,000.00
Reg.
data: 07.02.2005
Local court 70190 Stuttgart
HRB 361439
Shareholder:
GRAMOLERA
Grundstücksvermietungsgesellschaft
Objekt Ticino
mbH
Dieselstr. 12
D 72555
Metzingen
Legal form:
Private limited company
Company
Status: active
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Reg.
data: 26.02.2010
Local court 70190 Stuttgart
HRB 732947
Shareholder:
HUGO BOSS
Dienstleistungs GmbH
Dieselstr. 12
D 72555
Metzingen
Legal form:
Private limited company
Company
Status: active
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Reg.
data: 08.07.2004
Local court 70190 Stuttgart
HRB 361420
Payment experience: in top
condition
Negative information:We have no negative information at hand.
Type of ownership: proprietor
Share: 100.00 %
Address Dieselstr. 12
D 72555
Metzingen
Real Estate of: Rainer Hägele
Type of ownership: Tenant
Address Im Sitterbrunnen 6
D 72768
Reutlingen
Land register documents were not available.
Principal bank
KREISSPARKASSE REUTLINGEN, 72710 REUTLINGEN
Sort. code: 64050000
BIC: SOLADES1REU
Further banks
COMMERZBANK, 72701 REUTLINGEN
Sort. code: 64040033
BIC: COBADEFFXXX
DEUTSCHE BANK, 72542 METZINGEN, WÜRTT
Sort. code: 64070085
BIC: DEUTDESS640
VOLKSBANK METZINGEN-BAD URACH, 72555 METZINGEN, WÜRTT
Sort. code: 64091200
BIC: GENODES1MTZ
Turnover: 2013 EUR 1,067,262,000.00
2014 EUR 1,100,000,000.00
Profit: 2013 EUR 210,768,000.00
further business figures:
Equipment:
EUR 64,815,000.00
Ac/ts receivable:
EUR 118,754,000.00
Liabilities:
EUR 354,702,000.00
Employees:
2,835
- thereof permanent staff:
2,835
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]:
51.05
Liquidity ratio:
0.34
Return on total capital [%]:
21.91
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]:
54.70
Liquidity ratio:
0.26
Return on total capital [%]:
31.82
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]:
43.55
Liquidity ratio:
0.19
Return on total capital [%]:
9.47
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]:
52.00
Liquidity ratio:
0.19
Return on total capital [%]:
5.49
EQUITY RATIO
The equity ratio indicates the portion of the equity as compared
to the total capital. The higher the equity ratio, the better the
economic stability (solvency) and thus the financial autonomy of
a company.
LIQUIDITY RATIO
The liquidity ratio shows the proportion between adjusted
receivables and net liabilities. The higher the ratio, the lower
the company's financial dependancy from external creditors.
RETURN ON TOTAL
CAPITAL
The return on total capital shows the efficiency and return on
the total capital employed in the company. The higher the return
on total capital, the more economically does the company work
with the invested capital.
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2013 - 31.12.2013
ASSETS EUR 962,363,000.00
Fixed assets EUR 668,511,000.00
Intangible assets EUR 30,936,000.00
Concessions, licences, rights EUR 25,708,000.00
Goodwill EUR 519,000.00
Advance payments for intang. assets EUR
4,709,000.00
Tangible assets EUR 92,708,000.00
Land / similar rights EUR 26,344,000.00
Plant / machinery EUR 1,288,000.00
Other tangible assets / fixtures and
fittings EUR 64,815,000.00
Advance payments made / construction
in progress EUR
261,000.00
Financial assets EUR 544,867,000.00
Shares in participations /
subsidiaries and the like EUR 544,867,000.00
Shares in related companies EUR 544,832,000.00
Shares in investee companies
EUR 35,000.00
Current assets EUR 292,189,000.00
Stocks EUR 170,022,000.00
Raw materials, consumables and
supplies EUR 34,675,000.00
Finished goods / work in progress EUR
135,223,000.00
Advance payments made EUR 124,000.00
Accounts receivable EUR 118,754,000.00
Trade debtors EUR 24,742,000.00
Amounts due from related companies EUR
65,280,000.00
Other debtors and assets EUR 28,732,000.00
Liquid means EUR 3,413,000.00
Remaining other assets EUR 1,663,000.00
Accruals (assets) EUR 1,663,000.00
LIABILITIES EUR 962,363,000.00
Shareholders' equity EUR 491,545,000.00
Capital EUR 69,016,000.00
Subscribed capital (share capital) EUR
70,400,000.00
Other capital EUR -1,384,000.00
Reserves EUR 187,393,000.00
Capital reserves EUR 399,000.00
Retained earnings / revenue reserves
EUR 186,994,000.00
Balance sheet profit/loss (+/-) EUR 235,136,000.00
Balance sheet profit / loss EUR 235,136,000.00
Provisions EUR 110,387,000.00
Pension provisions and comparable
provisions EUR 2,784,000.00
Provisions for taxes EUR 23,168,000.00
Other / unspecified provisions EUR 84,435,000.00
Liabilities EUR 354,702,000.00
Financial debts EUR 16,896,000.00
Liabilities due to banks EUR 16,896,000.00
Other liabilities EUR 337,806,000.00
Trade creditors (for IAS incl. bills
of exchange) EUR 87,524,000.00
Liabililties due to related
companiesEUR 241,972,000.00
Unspecified other liabilities EUR 8,310,000.00
Other liabilities EUR 5,729,000.00
Deferrals (liabilities) EUR 5,729,000.00
Guarantees and other commitments EUR 145,372,000.00
Guarantees / warranties EUR 136,239,000.00
Guarantees EUR 136,239,000.00
Liability from creation of a security
interest for third parties EUR 9,133,000.00
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR 1,067,262,000.00
Manufacturing costs EUR 653,880,000.00
Gross result on sales EUR 413,382,000.00
Distribution costs EUR 298,891,000.00
General administration expenses EUR 101,328,000.00
Other operating income EUR 131,773,000.00
Other operating expenses EUR 59,112,000.00
Operating result from continuing
operations EUR 85,824,000.00
Result from participating interests
(+/-) EUR 197,199,000.00
Expenses / income from participations
EUR 197,199,000.00
Income from transfer of profits EUR
101,812,000.00
Income from related companies EUR 95,387,000.00
Expenses for the transfer of losses EUR 594,000.00
Interest result (+/-) EUR -10,603,000.00
Interest and similar income EUR 2,424,000.00
Interest and similar expenses EUR 13,027,000.00
Financial result (+/-) EUR 186,002,000.00
Result from ordinary operations (+/-) EUR
271,826,000.00
Income tax / refund of income tax
(+/-)EUR -60,960,000.00
Other taxes / refund of taxes EUR -98,000.00
Tax (+/-) EUR -61,058,000.00
Annual surplus / annual deficit EUR 210,768,000.00
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2012 - 31.12.2012
ASSETS EUR 906,365,000.00
Fixed assets EUR 665,804,000.00
Intangible assets EUR 39,137,000.00
Concessions, licences, rights EUR 35,584,000.00
Goodwill EUR 636,000.00
Advance payments for intang. assets EUR
2,917,000.00
Tangible assets EUR 81,800,000.00
Land / similar rights EUR 18,443,000.00
Plant / machinery EUR 1,579,000.00
Other
tangible assets / fixtures and
fittings EUR 49,886,000.00
Advance payments made / construction
in progress EUR 11,892,000.00
Financial assets EUR 544,867,000.00
Shares in participations /
subsidiaries and the like EUR 544,867,000.00
Shares in related companies EUR 544,857,000.00
Shares in investee companies EUR 10,000.00
Current assets EUR 239,408,000.00
Stocks EUR 156,138,000.00
Raw materials, consumables and
supplies EUR 39,969,000.00
Finished goods / work in progress EUR
115,724,000.00
Advance payments made EUR 445,000.00
Accounts receivable EUR 76,262,000.00
Trade debtors EUR 21,718,000.00
Amounts due from related companies EUR
30,991,000.00
Other debtors and assets EUR 23,553,000.00
Liquid means EUR 7,008,000.00
Remaining other assets EUR 1,153,000.00
Accruals (assets) EUR 1,153,000.00
LIABILITIES EUR 906,365,000.00
Shareholders' equity EUR 496,108,000.00
Capital EUR 69,016,000.00
Subscribed capital (share capital) EUR
70,400,000.00
Other capital EUR -1,384,000.00
Reserves EUR 207,444,000.00
Capital reserves EUR 399,000.00
Retained earnings / revenue reserves
EUR 207,045,000.00
Balance sheet profit/loss (+/-) EUR 219,648,000.00
Balance sheet profit / loss EUR 219,648,000.00
Provisions EUR 101,819,000.00
Pension provisions and comparable
provisions EUR 3,704,000.00
Provisions for taxes EUR 6,326,000.00
Other / unspecified provisions EUR 91,789,000.00
Liabilities EUR 303,228,000.00
Financial debts EUR 16,901,000.00
Liabilities due to banks EUR 16,901,000.00
Other liabilities EUR 286,327,000.00
Trade creditors (for IAS incl. bills
of exchange) EUR 82,651,000.00
Liabililties due to related
companiesEUR 196,865,000.00
Unspecified other liabilities EUR 6,811,000.00
Other liabilities EUR 5,210,000.00
Deferrals (liabilities) EUR 5,210,000.00
Guarantees and other commitments EUR 337,361,000.00
Guarantees / warranties EUR 327,784,000.00
Guarantees EUR 327,784,000.00
Liability from creation of a security
interest for third parties EUR 9,577,000.00
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR 1,093,400,000.00
Manufacturing costs EUR 731,129,000.00
Gross result on sales EUR 362,271,000.00
Distribution costs EUR 239,594,000.00
General administration expenses EUR 82,424,000.00
Other operating income EUR 126,332,000.00
Other operating expenses EUR 67,439,000.00
Operating result from continuing
operations EUR 99,146,000.00
Result from participating interests
(+/-) EUR 250,762,000.00
Expenses / income from participations
EUR 250,762,000.00
Income from transfer of profits EUR
153,275,000.00
Income from related companies EUR 97,487,000.00
Interest result (+/-) EUR -13,335,000.00
Interest and similar income EUR 3,057,000.00
Interest and similar expenses EUR 16,392,000.00
Financial result (+/-) EUR 237,427,000.00
Result from ordinary operations (+/-) EUR
336,573,000.00
Income tax / refund of income tax
(+/-)EUR -48,246,000.00
Other taxes / refund of taxes EUR -120,000.00
Tax (+/-) EUR -48,366,000.00
Annual surplus / annual deficit EUR 288,207,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.68 |
|
|
1 |
Rs.93.53 |
|
Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
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.