|
Report No. : |
320878 |
|
Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
IRISH INTERNATIONAL TRADING CORPORATION (CORK) PUBLIC
LIMITED COMPANY |
|
|
|
|
Registered Office : |
Tramore Road Cork 999937 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.07.1920 |
|
|
|
|
Com. Reg. No.: |
IE005027 |
|
|
|
|
Legal Form : |
Public limited with Share Capital |
|
|
|
|
Line of Business : |
A group engaged in the sale of steel, wire,
hardware, plumbing materials and salt. |
|
|
|
|
No. of Employee : |
86 |
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) |
|
Ireland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IRELAND ECONOMIC OVERVIEW
Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply during the world financial crisis and the subsequent collapse of its domestic property market and construction industry. Faced with sharply reduced revenues and a burgeoning budget deficit from efforts to stabilize its fragile banking sector, the Irish Government introduced the first in a series of draconian budgets in 2009. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s banking sector and avoid defaulting on its sovereign debt. In March 2011, the KENNY government intensified austerity measures to meet the deficit targets under Ireland's EU-IMF bailout program. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt. In 2014, the economy rapidly picked up and GDP grew by 3.6%. The recovering economy assisted lowering the deficit to 4.2% of GDP. In late 2014, the government introduced a fiscally neutral budget, marking the end of the austerity program. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Ireland’s low corporation tax of 12.5% has been central to encouraging business investment. Loose tax residency requirements made Ireland a common destination for international firms seeking to avoid taxation. Amid growing international pressure the government announced it would phase in more stringent tax laws, effectively closing a loophole.
|
Source
: CIA |
IRISH INTERNATIONAL TRADING CORPORATION
(CORK) PUBLIC LIMITED COMPANY
Company No:
IE005027
Registered Address:
Tramore Road Cork 999937
|
Registered
Address |
TRAMORE ROAD CORK 999937 |
Trading
Address |
TRAMORE ROAD CORK
CORK180014 |
|
Website
Address |
-- |
|
|
|
Telephone
Number |
0214705800 |
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation
Date |
15/07/1920 |
|
|
|
Previous Name |
-- |
Type |
Public limited with Share
Capital |
|
FTSE Index |
-- |
Date of
Change |
-- |
|
Filing Date
of Accounts |
-- |
Currency |
EUR |
|
Share
Capital |
€3,750,000 |
SIC07 |
|
|
Charity
Number |
-- |
|
|
|
SIC07
Description |
-- |
||
|
Principal Activity |
A group engaged in the
sale of steel, wire, hardware, plumbing materials and salt. |
||
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
31/12/2013 |
€34,402,015 |
€1,234,542 |
€22,798,944 |
86 |
|
31/12/2012 |
€34,010,06 |
€490,342 |
€21,781,221 |
83 |
|
31/12/2011 |
€36,044,354 |
€1,093,016 |
€22,442,079 |
85 |
Total Mortgage 5
Outstanding 5
Satisfied 0
Total Number of Documented Trade 0
Total Value of Documented Trade €0
|
No exact match CCJs are recorded against
the company. |
|
|
The company's credit rating has increased
from 79 to 92 which indicates very good creditworthiness. |
|
|
The credit limit on this company has risen
17.8% in comparison to the previously suggested credit limit. |
|
|
Sales in the latest trading period
increased 1.2% on the previous trading period. |
|
|
Net Worth increased by 4.7% during the
latest trading period. |
|
Total Number of Exact CJs - |
0 |
Total Value of Exact CJs - |
€0 |
|
Total Number of Possible CJs - |
0 |
Total Value of Possible CJs - |
€0 |
|
Total Number of Satisfied CJs - |
0 |
Total Value of Satisfied CJs - |
€0 |
|
Total Current Directors |
7 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
6 |
|
Name |
TADHG HEALY |
Date of Birth |
23/03/1952 |
|
Officers Title |
Nationality |
||
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
01/07/1981 |
||
|
Address |
TAKBA, COAST ROAD, FOUNTAINSTOWN, CO CORK |
||
|
Name |
JOHN LYONS |
Date of Birth |
18/10/1960 |
|
Officers Title |
Nationality |
||
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
04/12/2002 |
||
|
Address |
26 CLONTYMON LAWN, BOREENMANNA ROAD, CORK |
||
|
Name |
BARRY MURPHY |
Date of Birth |
07/10/1952 |
|
Officers Title |
Nationality |
||
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
04/12/2002 |
||
|
Address |
KILLAHORA NORTH, GLOUTHANE, CORK |
||
|
Name |
DAVID HEFFERNAN |
Date of Birth |
11/04/1969 |
|
Officers Title |
Nationality |
||
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
21/01/2009 |
||
|
Address |
19 AVONDALE, PASSAGE WEST, CO CORK |
||
|
Name |
BERNARD UNIACKE |
Date of Birth |
05/10/1944 |
|
Officers Title |
Nationality |
||
|
Present Appointments |
5 |
Function |
Director |
|
Appointment Date |
21/09/2005 |
||
|
Address |
LYNWOOD, ROCHESTOWN ROAD, CORK |
||
|
Name |
MARTIN KELLEHER |
Date of Birth |
07/07/1969 |
|
Officers Title |
Nationality |
||
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
22/10/2014 |
||
|
Address |
52 EAST AVENUE, PARK GATE, FRANKFIELD,
DOUGLAS CORK |
||
|
Name |
NOEL SMIDDY |
Date of Birth |
19/12/1972 |
|
Officers Title |
Nationality |
||
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
22/10/2014 |
||
|
Address |
CASTLEMARY, CLOYNE, CO. CORK |
||
|
Name |
DAVID HEFFERNAN |
Date of Birth |
11/04/1969 |
|
Officers Title |
Nationality |
||
|
Present Appointments |
2 |
Function |
Company Secretary |
|
Appointment Date |
04/12/2002 |
||
|
Address |
19 AVONDALE, PASSAGE WEST, CO CORK |
||
Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
|
|
MRS ROSEMARY DOWDALL |
EUR |
203,659 |
ORDINARY |
1.25 |
|
MISS ROSEMARY BROWNE |
EUR |
160,800 |
ORDINARY |
1.25 |
|
MRS PATRICIA ELLIOTT O'DRISCOLL |
EUR |
129,828 |
ORDINARY |
1.25 |
|
MR JOHN NOEL BUCKLEY |
EUR |
116,500 |
ORDINARY |
1.25 |
|
MRS ROSEMARY KELLEHER |
EUR |
105,867 |
ORDINARY |
1.25 |
|
MRS NOIRIN JONES |
EUR |
102,852 |
ORDINARY |
1.25 |
|
MR DAVID P. O'MAHONY |
EUR |
96,000 |
ORDINARY |
1.25 |
|
MR RICHARD PRATT |
EUR |
88,371 |
ORDINARY |
1.25 |
|
MR PATRICK J. KELLEHER |
EUR |
73,124 |
ORDINARY |
1.25 |
|
MRS MARY FOX |
EUR |
73,134 |
ORDINARY |
1.25 |
|
JAMES LONG WAREHOUSING LTD |
EUR |
71,470 |
ORDINARY |
1.25 |
|
MRS NORMA O'BRIEN |
EUR |
64,500 |
ORDINARY |
1.25 |
|
MRS DARA MAHER |
EUR |
64,192 |
ORDINARY |
1.25 |
|
MRS MARIE HYDE |
EUR |
62,499 |
ORDINARY |
1.25 |
|
MR HILLARY BROWNE |
EUR |
57,516 |
ORDINARY |
1.25 |
|
MRS MARGARET LYONS |
EUR |
57,331 |
ORDINARY |
1.25 |
|
MR JOHN M. O'CONNELL |
EUR |
54,639 |
ORDINARY |
1.25 |
|
MR MICHAEL JAMES KELLEHER |
EUR |
46,999 |
ORDINARY |
1.25 |
|
MODERN PLANT LTD |
EUR |
42,499 |
ORDINARY |
1.25 |
|
MRS ANN HEALY |
EUR |
34,000 |
ORDINARY |
1.25 |
Unable to report percentage holdings as filed
Shareholder listing is not full.
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR |
|
Consolidated A/cs |
Y |
(%) |
Y |
(%) |
Y |
(%) |
Y |
(%) |
Y |
|
Turnover |
€34,402,015 |
1.2% |
€34,010,063 |
-5.6% |
€36,044,354 |
-2.8% |
€37,088,441 |
3.3% |
€35,896,211 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
€28,323,828 |
1.7% |
€27,857,454 |
-3.7% |
€28,921,470 |
-1% |
€29,202,933 |
-0.3% |
€29,294,796 |
|
Gross Profit |
€6,078,187 |
-1.2% |
€6,152,609 |
-13.6% |
€7,122,884 |
-9.7% |
€7,885,508 |
19.5% |
€6,601,415 |
|
Wages & Salaries |
€3,636,059 |
2.9% |
€3,532,027 |
-0.5% |
€3,548,771 |
2.2% |
€3,470,982 |
-5.8% |
€3,684,845 |
|
Directors Emoluments |
€531,176 |
- |
€531,176 |
-1.5% |
€539,176 |
- |
€539,176 |
- |
€539,176 |
|
Operating Profit |
€1,406,486 |
111.2% |
€665,810 |
-61.4% |
€1,724,380 |
-31.4% |
€2,514,154 |
122.2% |
€1,131,726 |
|
Depreciation |
€420,372 |
-23.9% |
€552,602 |
4.8% |
€527,207 |
-42.7% |
€919,417 |
-57% |
€2,138,209 |
|
Audit Fees |
€25,937 |
- |
€25,937 |
4% |
€24,937 |
- |
€24,937 |
-5% |
€26,250 |
|
Interest Payments |
€199,523 |
-13.4% |
€230,308 |
-46.7% |
€431,724 |
69.5% |
€254,768 |
-35.7% |
€396,321 |
|
Pre Tax Profit |
€1,234,542 |
151.8% |
€490,342 |
-55.1% |
€1,093,016 |
-28.7% |
€1,532,257 |
161.3% |
-€2,501,571 |
|
Taxation |
-€211,694 |
-165.2% |
-€79,825 |
60.6% |
-€202,750 |
-9.9% |
-€184,467 |
-262.1% |
-€50,943 |
|
Profit After Tax |
€1,022,848 |
149.2% |
€410,517 |
-53.9% |
€890,266 |
-33.9% |
€1,347,790 |
152.8% |
-€2,552,514 |
|
Dividends Payable |
€300,000 |
-16.7% |
€360,000 |
-14.3% |
€420,000 |
16.7% |
€360,000 |
-14.3% |
€420,000 |
|
Retained Profit |
€722,848 |
999.9% |
€50,517 |
-89.3% |
€470,266 |
-52.4% |
€987,790 |
133.2% |
-€2,972,514 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Tangible Assets |
€17,204,027 |
0.1% |
€17,183,473 |
-2.9% |
€17,698,466 |
-3.6% |
€18,355,360 |
-4.2% |
€19,159,583 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
€17,204,027 |
0.1% |
€17,183,473 |
-2.9% |
€17,698,466 |
-3.6% |
€18,355,360 |
-4.2% |
€19,159,583 |
|
Stock |
€8,056,596 |
-3% |
€8,302,497 |
10.2% |
€7,537,065 |
-2.8% |
€7,755,296 |
-6.4% |
€8,285,372 |
|
Trade Debtors |
€7,163,259 |
13% |
€6,339,673 |
-3.9% |
€6,598,330 |
-7.2% |
€7,107,437 |
-10.2% |
€7,916,636 |
|
Cash |
€2,629,091 |
-4.1% |
€2,741,384 |
-42.2% |
€4,743,744 |
24.3% |
€3,816,629 |
153.7% |
€1,504,330 |
|
Other Debtors |
€73,657 |
-71.3% |
€256,289 |
77.5% |
€144,398 |
28.2% |
€112,617 |
-25.2% |
€150,615 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
€17,922,603 |
1.6% |
€17,639,843 |
-7.3% |
€19,023,537 |
1.2% |
€18,791,979 |
5.2% |
€17,856,953 |
|
Trade Creditors |
€5,590,758 |
20.7% |
€4,631,759 |
-12.3% |
€5,284,275 |
3.9% |
€5,084,122 |
-3.5% |
€5,265,922 |
|
Bank Loans & Overdrafts |
€540,000 |
-30.2% |
€774,000 |
-22.9% |
€1,004,000 |
-0.8% |
€1,012,000 |
48% |
€684,000 |
|
Other Short Term Finance |
€27,614 |
-13.9% |
€32,073 |
-59.7% |
€79,497 |
-27.8% |
€110,138 |
7.6% |
€102,341 |
|
Miscellaneous Current Liabilities |
€1,241,202 |
3.2% |
€1,202,367 |
-7.4% |
€1,298,266 |
18.6% |
€1,094,248 |
32.1% |
€828,089 |
|
Total Current Liabilities |
€7,399,574 |
11.4% |
€6,640,199 |
-13.4% |
€7,666,038 |
5% |
€7,300,508 |
6.1% |
€6,880,352 |
|
Bank Loans & Overdrafts and LTL |
€5,468,112 |
-23.8% |
€7,175,896 |
-5.8% |
€7,617,886 |
-12.4% |
€8,700,643 |
-12.1% |
€9,894,786 |
|
Other Long Term Finance |
€5,595 |
-83.2% |
€33,209 |
-59.8% |
€82,616 |
-49% |
€162,113 |
13.8% |
€142,497 |
|
Total Long Term Liabilities |
€4,928,112 |
-23% |
€6,401,896 |
-3.2% |
€6,613,886 |
-14% |
€7,688,643 |
-16.5% |
€9,210,786 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Called Up Share Capital |
€3,750,000 |
- |
€3,750,000 |
- |
€3,750,000 |
- |
€3,750,000 |
- |
€3,750,000 |
|
P & L Account Reserve |
€4,848,944 |
26.6% |
€3,831,221 |
-14.7% |
€4,492,079 |
6.7% |
€4,208,188 |
21.1% |
€3,475,398 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
€14,200,000 |
- |
€14,200,000 |
- |
€14,200,000 |
- |
€14,200,000 |
3.6% |
€13,700,000 |
|
Shareholder Funds |
€22,798,944 |
4.7% |
€21,781,221 |
-2.9% |
€22,442,079 |
1.3% |
€22,158,188 |
5.9% |
€20,925,398 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Net Worth |
€22,798,944 |
4.7% |
€21,781,221 |
-2.9% |
€22,442,079 |
1.3% |
€22,158,188 |
5.9% |
€20,925,398 |
|
Working Capital |
€10,523,029 |
-4.3% |
€10,999,644 |
-3.2% |
€11,357,499 |
-1.2% |
€11,491,471 |
4.7% |
€10,976,601 |
|
Total Assets |
€35,126,630 |
0.9% |
€34,823,316 |
-5.2% |
€36,722,003 |
-1.1% |
€37,147,339 |
0.4% |
€37,016,536 |
|
Total Liabilities |
€12,327,686 |
-5.5% |
€13,042,095 |
-8.7% |
€14,279,924 |
-4.7% |
€14,989,151 |
-6.8% |
€16,091,138 |
|
Net Assets |
€22,798,944 |
4.7% |
€21,781,221 |
-2.9% |
€22,442,079 |
1.3% |
€22,158,188 |
5.9% |
€20,925,398 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Net Cashflow from Operations |
€1,589,044 |
740.2% |
-€248,214 |
-108% |
€3,102,331 |
-14.5% |
€3,628,241 |
21.3% |
€2,991,311 |
|
Net Cashflow before Financing |
€718,728 |
180.7% |
-€890,946 |
-144.7% |
€1,993,768 |
-37.8% |
€3,204,123 |
36.5% |
€2,347,000 |
|
Net Cashflow from Financing |
-€831,021 |
25.2% |
-€1,111,414 |
-4.2% |
-€1,066,653 |
-19.6% |
-€891,824 |
-17.4% |
-€759,828 |
|
Increase in Cash |
-€112,293 |
94.4% |
-€2,002,360 |
-316% |
€927,115 |
-59.9% |
€2,312,299 |
45.7% |
€1,587,172 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Contingent Liability |
YES |
- |
YES |
- |
YES |
- |
NO |
- |
NO |
|
Capital Employed |
€27,727,056 |
-1.6% |
€28,183,117 |
-3% |
€29,055,965 |
-2.6% |
€29,846,831 |
-1% |
€30,136,184 |
|
Number of Employees |
86 |
3.6% |
83 |
-2.4% |
85 |
-1.2% |
86 |
-1.1% |
87 |
|
Auditors |
DELOITTE & TOUCHE |
|
Auditor Comments |
The audit report contains no adverse
comments |
|
Bankers |
ALLIED IRISH BANK |
|
Bank Branch Code |
93-13-49 |
|
Date Of Accounts |
31/12/13 |
31/12/12 |
31/12/11 |
31/12/10 |
31/12/09 |
|
Pre-tax profit margin % |
3.59 |
1.44 |
3.03 |
4.13 |
-6.97 |
|
Current ratio |
2.42 |
2.66 |
2.48 |
2.57 |
2.60 |
|
Sales/Net Working Capital |
3.27 |
3.09 |
3.17 |
3.23 |
3.27 |
|
Gearing % |
24 |
32.90 |
33.90 |
39.30 |
47.30 |
|
Equity in % |
64.90 |
62.50 |
61.10 |
59.60 |
56.50 |
|
Creditor Days |
59.15 |
49.57 |
53.36 |
49.89 |
53.39 |
|
Debtor Days |
75.79 |
67.85 |
66.63 |
69.75 |
80.27 |
|
Liquidity/Acid Test |
1.33 |
1.40 |
1.49 |
1.51 |
1.39 |
|
Return On Capital Employed % |
4.45 |
1.73 |
3.76 |
5.13 |
-8.30 |
|
Return On Total Assets Employed % |
3.51 |
1.40 |
2.97 |
4.12 |
-6.75 |
|
Current Debt Ratio |
0.32 |
0.30 |
0.34 |
0.32 |
0.32 |
|
Total Debt Ratio |
0.54 |
0.59 |
0.63 |
0.67 |
0.76 |
|
Stock Turnover Ratio % |
23.41 |
24.41 |
20.91 |
20.91 |
23.08 |
|
Return on Net Assets Employed % |
5.41 |
2.25 |
4.87 |
6.91 |
-11.95 |
|
There are no
notes to display. |
|
No Status History found |
|
Date |
Description |
|
22/10/2014 |
New Board Member (NOEL SMIDDY) appointed |
|
22/10/2014 |
New Board Member (MARTIN KELLEHER)
appointed |
|
10/08/2014 |
HILARY BROWNE has left the board |
|
05/06/2014 |
New Accounts Filed |
|
05/06/2014 |
New Accounts Filed |
|
30/04/2013 |
New Accounts Filed |
|
30/04/2013 |
New Accounts Filed |
|
27/04/2013 |
Annual Returns |
|
01/05/2012 |
Annual Returns |
|
01/05/2012 |
New Accounts Filed |
|
27/04/2011 |
New Accounts Filed |
|
27/04/2011 |
New Accounts Filed |
|
26/04/2011 |
Annual Returns |
|
18/05/2010 |
Annual Returns |
|
18/05/2010 |
New Accounts Filed |
|
No Previous Names found |
|
No writs found |
|
Group |
- |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
|
Holding Company |
- |
|
Ownership Status |
|
|
Ultimate Holding Company |
- |
No Group Structure
|
Business Name |
Business No |
Business Status. |
|
IRISH INTERNATIONAL TRADING CORPORATION
(CORK) PUBLIC LIMITED COMPANY |
IE005027 |
|
|
HIBERNIAN SALT |
263305 |
NORMAL |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.70 |
|
|
1 |
Rs.98.92 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.