R A

Al-Baraka Library
(Corporate) Date of Declaration November 13, 2012 Valid Till November 12, 2013 Rating Action Initial Long Term Rating BBB Short Term Rating AR-3 Outlook

T I N G R E P o R T

Stable

Proprietor Total Assets Bank investment Bank Contact Analysts

: Mohammed Norul Amin : BDT 25.83 million : Bai- Murabaha: BDT 20.00 million

:Islami Bank Bangladesh Ltd

: Bidyut Roy bidyut@alpharating.com.bd Maruf Al Mahmood maruf@alpharating.com.bd

Alpha Credit Rating Limited

Rating Rationale:
Alpha Credit Rating Limited (AlphaRating) assigns long term rating of BBB (pronounced as triple B) and AR-3 for Short Term credit rating for M/S Al-Baraka Library (here in after refers to as The Business). The outlook for the rating is Stable. AlphaRating considered financial performance, scale of business, quality of audited statements and data presentation, owners relationship with different parties or stakeholders of the business, owners business experience, comparative strength of the group while assigning the rating. M/S Al-Baraka Library is a proprietorship business engaged in publishing and selling educational books for Bangladesh Madrasah Education Board and other Islamic books like Quran Sharif. The business received its trade license on 19th March, 1994. The proprietors experience in publishing sector is more than 18 years with strong support from its sister concern M/S Al-Baraka Printers. The revenue has been increased sharply from FY2009-10 to FY2010-11 by having a growth of 39.80% and moreover in the FY2011-12, the growth rate has just not only improved marginally but it has jumped dramatically to 146.88% comparing to FY201011, having average growth of 93.34%. The COGS has also increased significantly over the three year period by having a growth of 15.84% from FY2010-11 and increased by 208.86% from FY2011-12 comparing to FY2010-11. The gross profit margin (GPM) has increased in the year of 2010-11 (32.49%) comparing to the prior year (18.52%) but lowered down a little bit in the year of 201112 (15.55%). The operating profit margin has been much better in FY2010-11 (28.06%) but the business has consistently maintained a very good controlled procedure of cost management from FY2009-10 to FY2011-12 which resulted in a steady growth of both operating profit margin and net profit margin. Both return on assets and return on equity have appeared to be increased in the FY 2010-11 compared to the previous year but have been a little bit sloppy in the FY 201112 which indicates that assets were more utilized to generate revenue and hence profit. The current ratio & quick assets ratio have been maintained steadily from FY2009-10 to FY2010-11 and becomes more viable in FY2009-10 to FY2011-12. The cash ratio of the business consistently falls from 0.03 times to 0.01 over the three years period of FY2009-10 to FY2011-12. Trade receivable period appeared much higher in the FY 2011-12 compared to the previous years which indicate that the business is allowing its customers more favorable terms to pay back. On the other hand to keep satisfy its suppliers, the business is also paying back on much earlier time. The trend of the business has contributed towards a long cash conversion cycle over the three years period of FY2009-10 to FY2011-12 though it is pretty common in the industry. The business was not able to generate a good cash inflow from its operations in the period of three years from FY2009-10 to FY2011-12 except FY 2010-11. The capital structure of the business is composed mostly of capital introduced by the owner. The debt section in the capital structure composed of short-term obligations. As per audited statement, it has been noticed that, the business does not have any long term investment from any other financial institution or banks. As on 30 October 2012, the business has total outstanding short term bank investment of BDT 20.86 million against the sanction amount of BDT 20 million. According to the investment schedule and conversation with its financial institute, the business has maintained a sound repayment schedule.

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SWOT Analysis:
Strength:
Experience of the proprietor in the business. Trend of gearing ratio indicates low dependency on debt finance. A lengthy strong relationship with suppliers. A very good customer base. Consistent business performance over many years. IT infrastructure. Meeting challenges of the dynamic business environment. Increasing population of Bangladesh and the upward trend of consumer demands possesses a great opportunity. New entrants. Strong Competitors. No entry barrier.

Weakness:

Opportunity:

Threat:

Business/Enterprise Profile:
Background
M/S Al-Baraka Library is a proprietorship business concern engaged in publishing Bangladesh Madrasah Education Board books and selling as well. All the business operations are actively controlled by the owner of business. The publishing house is situated at 34, North Brookhall Road, Banglabazar, Dhaka and having its warehouses at five different locations in Dhaka. M/S Al-Baraka Library (here in after referred as the business) keeps on publishing books for Madrasah education according to the board requirements and recommended throughout the year. But the business faces their busiest time at the beginning of the year when most of the admission period goes on in various Madrasah schools, colleges and universities. The business carries out its operation by supplying books to many other libraries throughout the whole Bangladesh. The business publishes around 5 million books per year. It has the production capacity of 20.00 million pages to be print each year. To support its production capacity, the business has purchased most of its machineries from Germany and other machineries like cutting, binding, laminating, kiriz, etc from China. These machines can print upto 80000 pages per day at its best level. In their season time the business outsources some of its activities like binding, book cutting, etc and it has a strong support from its sister concern M/S Al-Baraka Printers which also help the business regarding printing pages for the books when the business in-house production capacity is at its maximum level. There are around 50-60 workers are working in the field of pressing and binding and 40 others carrying their regular operation in marketing sector. There are also 120 administrative staffs to carry out the regular activities like purchasing raw materials, composing, editing, and selling it to ultimate consumer as well.

Products
The business is a well known publisher in selling all types of books required by Bangladesh Madrasah Education Board. The business also publishes 12 different kinds of Quran Sharif and almost 250 different types of other Islamic Books regarding Islamic rules and regulations. The business has its own authors and in connection with many other reputed authors (publishing purpose) from both Government and Non-Government Draft Rating Report-M/S Al-Baraka Library Page 3

Alpha Credit Rating Limited Islamic Institutions. It also has the scope to print any type of books required by the buyers. It carries some additional activities like laminating, book cutting, etc to generate some extra revenue in their spare production time. The business also generates a lot of waste from paper cutting which they can sell it later for recycling purpose.

Raw Materials
The business requires mostly papers like newsprint, whiteprint, board paper, art paper, tracing paper, offset paper, etc to carry out their publishing activities. The business also needs ink and pasting to print and binding books. The business requires almost 1550 tons of newsprint papers, 400 tons of white papers, 5500 packets of board papers, 700 packets of art papers which almost costs them around BDT 140 million and other papers like tracing paper of around BDT 0.2 million. Most of the raw materials are being purchased from local whole selling market to maintain up the production cost and to build a good liaison. The materials are always available throughout the year.

Suppliers
The business has some potential suppliers with whom they have a very strong relation over many years of time. The business outsources some of its activities like binding and book pressing in their busiest time. So far the business is able to maintain a nice and smooth relation with more than 50 suppliers both in terms of payment and commitments.

Customers
The business is publishing books over many years and it has been quite successful to build a good customer base business. The business supply books to more than hundreds of other libraries located in Bangladesh. The credit policies provided by the business to its customers are quite flexible and the customers are quite trustworthy. Some of the potential customers are M/S Chapai Book Dipo, M/S Arafat Library, M/S Aliya Library, etc.

Publishing Industry of Bangladesh:

There are over 7,000 printing houses in Bangladesh. Of them, 3,000 are in Dhaka. The sector employs around 20 million people. One challenge facing the sector is lack of skilled man-power. Moreover, printing is a very capital intensive industry, so another obstacle facing the sector is lack of investment, especially in a small country like Bangladesh. The government can improve this situation by coming up with initiatives to increase investment in the sector. Another problem in the printing and publishing industry is frequent power outages, which is hampering production in the industry and causing companies to incur losses. There are two major factors driving growth in the printing and binding business in Bangladesh. First, there is a strong correlation between the growth of local economies and the health of the printing and publishing industry. Being largely dependent on the domestic market, the printing and publishing industry in Bangladesh rises and falls with the general economy. Second, the evolution of equipment and new printing technologies has led to better and more innovative products and services that cater to the changing needs of customers. The utilization of new equipment and various printing technology, particularly those with IT applications, has enabled companies to reduce turnaround times, shorten press make ready and cut down on costly waste. This also opens opportunities for small- and medium-scale enterprises that maintain highly computerized operation to serve niche markets requiring low volume printed / published materials.

BUSINESS RISK ANALYSIS

Competition in the market
Government as well as some reputed people of Bangladesh is taking proper initiatives for the establishment of Islamic education and to make this a success, both government and Draft Rating Report-M/S Al-Baraka Library Page 4

Alpha Credit Rating Limited non-government Islamic Schools, Colleges and Universities are being built every year. Thus enhancing the competition between the publishers to satisfy the overall demand which makes the business environment to be changed more frequently and always need to cope up with the changing requirements. An intense competition exists presently in the market as there are many players trying to achieve the competitive advantage over each other.

Environmental Factor
Printing and publishing industry is always a prime concern for environmental issues because of high energy, chemical use and associated waste. From heating and lighting to powering equipment and final delivery, energy is used at all stages of the production. Lots of waste gathered from printing plates, ink tins, pallets and packaging, etc. When ink dries it releases volatile organic compounds which are harmful both for the workers and environment contributing to global warming. Government always enforces more rules and regulations for environmental safety and the business needs to be aware of all government environmental schemes otherwise a provision needs to be provided to pay up the fine.

Government and Global Policies

Volatility in political and economical sector of a country pays a major role in the performance of any industry. In Bangladesh, the strike and protest by the opposite political parties always disrupt the smooth operation of the business. Governments trade policy regarding Publication industry may change due to the lobbying of some businesses which could result in the variation of supply to meet the increasing demand and it can hamper the business in this challenging environment.

New Entrants
Low barriers to entry and low exit barriers characterize competitive industries. However, all business activities feature some such barriers due to education, experience or skill levels, personal contacts or other aspects of getting started. M/S Al-Baraka Library is certainly facing a risk of new entrants due to the nature of the business.

Power Supply
The publishing industry is always in need of good supply of electricity with the support of stable voltage to run its heavy printing machineries and other production activities. In Bangladesh especially Dhaka city is facing a major problem in power supply over long period of time and so far it has not been possible for any government to assure 24 hour energy supply service. Therefore as a result of not having adequate supply of electricity due to which the daily required demand is not possible to fulfill at all and that is why this is a prime concern for any business especially in the printing industry where it runs on a target of day to day basis production process. The business needs to manage its own power supply by having a powerful generator to back up the production process which incurred a huge one-off cost, day to day running expenses and later maintenance cost for the rest of its useful life.

FINANCIAL RISK ANALYSIS

The overall financial risk assessment of the business, Alpha Rating divided the financial portion into five different criteria which are Profitability Analysis, Liquidity Analysis, Cash flow Analysis, Asset Management, Capital Structure, and overall Financial Flexibility. Detailed analysis is presented below:

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Profitability
FYE 30 JUNE

Exhibit 2: Selected Indicators: M/S Al-Baraka Library

2011-12 160.52 146.88 135.56 208.86 21.93 15.18 15.55 13.67 9.38 5.93 6.39 2010-11 65.02 39.80 43.89 15.84 18.25 15.09 32.49 28.06 8.53 6.67 7.82 2009-10 46.51 37.89 5.80 4.1 18.52 12.48 8.63 4.99 5.87

Revenue (BDT in Millions) Revenue Growth (%) COGS (BDT in Millions) COGS Growth (%) Operating Income (BDT in Millions) Profit before Tax (BDT in Millions) Gross Profit Margin (%) Operating Profit Margin (%) Net Profit Margin (%) ROA (%) ROE (%)

Data obtained from audited financial statements of 2009-10 to 2011-12

From the above table (Exhibit 2), it is clear that, revenue has been increased sharply from FY2009-10 to FY2011-12 by having a growth of 39.80% in FY2010-11 and moreover in the FY2011-12, the growth rate has just not only improved marginally but it has jumped dramatically to 146.88% comparing to FY2010-11, having average growth of 93.34%. This impressive improvement in revenue over the three year periods is due to the ultimate increase in publishing demand of the products. The COGS has also increased significantly over the three year period by having a growth of 15.84% from FY2010-11 and increased by 208.86% in FY2011-12 comparing to FY2010-11. This increase in COGS is in line with the increasing trend of revenue as they required greater volume of raw materials for their business and the inflation rate of the country are also responsible for push up the price. There has been a fine increase of gross profit margin (GPM) in the year of 2010-11 (32.49%) comparing to the prior year (18.52%) but lowered down a little bit in the year of 2011-12 (15.55%). This is due to high inflation rate in FY 2011-12, which makes the raw material costs to go up. The operating profit margin has been much better in FY2010-11(28.06%) but the business has consistently maintained a very good controlled procedure of cost management from FY2009-10 to FY2011-12 which resulted in a steady growth of both operating profit margin and net profit margin. Both return on assets and return on equity have appeared to be increased in the FY 2010-11 compared to the previous year but have been a little bit sloppy in the FY 201112 which indicates that assets were more utilized to generate revenue and hence profit.

Liquidity Analysis:
Exhibit 3: Selected Indicators: M/S Al-Baraka Library
FYE 30 JUNE Current Ratio (x) Quick Assets Ratio (x) Trade Receivables (days) Trade Payables (days) Inventory Turnover (days) Cash Conversion Cycle (days) 2011-12 11.76 5.53 219.75 6.43 318.05 531.37 2010-11 3.62 0.50 28.16 99.91 317.00 245.24 2009-10 3.34 0.29 19.74 115.73 354.48 258.49

Data obtained from audited financial statements of 2009-10 to 2011-12

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Alpha Credit Rating Limited The current ratio & quick assets ratio have been maintained steadily from FY2009-10 to FY2010-11 and becomes more viable in FY 2011-12. This shows that the company is pretty much capable enough to meet all kind of short term liabilities but the cash ratio gives an opportunity to have a wider view of the business. The cash ratio of the business consistently falls from 0.03 times to 0.01 over the three years period of FY 2009-10 to FY2011-12. This clearly indicates that the business may need further short term financing to meet all short term liabilities in case of difficult business environment while it has been maintaining a strong relationship with its suppliers by making prompt payments. Trade receivable period appeared much higher in the FY2011-12 comparing to previous two years which indicates that the business is allowing its customers favorable term to pay back. On the other hand to keep satisfy its suppliers, the business is also paying back on much earlier time. The trend of the business has contributed towards a long cash conversion cycle over the years of FY2009-10 to FY2011-12 though it is pretty common in the industry due to various kinds of slow moving products needs to be published and allowing more time to its customers to pay them back with a view to satisfy the customer needs. This also helped to improve the inventory turnover days consecutively over three year periods of FY 2009-10 to FY2011-12.

Cash-flow Coverage
Exhibit 4: Selected Indicators: M/S Al-Baraka Library
FYE 30 JUNE CFO (BDT in Millions) CFO Interest Coverage (x) CFO Debt Coverage (x) 2011-12 (164..90) (29.50) (10.72) 2010-11 12.48 6.40 80.37 2009-10 (21.87) (48.56) -

Data obtained from audited financial statements of 2009-10 to 2011-12

The business was not able to generate a good cash inflow from its operations in the period of three years from FY2009-10 to FY2011-12 except FY 2010-11. The cash flow of the business could be improved more if the owner can changed the credit policy with its customers and suppliers as the business is taking a very short time to clear back its suppliers and allowing more time to its receivables. However, the above table (Exhibit 4) suggests that the operating cash flow of the business is not in a healthy position to cover its total debt and interest expenses in FY2009-10 and FY2011-12. The business needs to hold its inventories for some slow moving products just to satisfy its customer needs on time and to maintain a strong relation.

Leverage & Capital Structure

Exhibit 5: Selected Indicators: M/S Al-Baraka Library
FYE 30 JUNE Debt-to-Equity Debt to OPBITDA Interest Coverage ratio Total Liabilities to Total Assets Net Asset Value (BDT in millions) 2011-12 0.07 0.72 2.72 0.07 235.46 2010-11 0.00 0.01 7.73 0.15 70.91 2009-10 0.00 0.00 9.11 0.15 68.36

Data obtained from audited financial statements of 2009-10 to 2011-12

The capital structure of the business is composed mostly of capital introduced by the owner. The introduction of additional capital in FY2011-12 is one of the prime causes to increase equity. The debt section in the capital structure composed of short-term obligations. As per audited statement, it has been noticed that, the business does not have any long term investment from any financial institution or banks. As on 30 October 2012, the business has total outstanding short term bank investment of BDT Draft Rating Report-M/S Al-Baraka Library Page 7

Alpha Credit Rating Limited 20.86 million against the sanction amount of BDT 20.00 million. The mode of the investment indicates that the bank owed some profits (profits made by the business) to the client. However, according to the investment schedule and conversation with its financial institute, the business has maintained a sound repayment schedule. The debt to OPBITDA has increased in the FY 2011-12 comparing to its previous year implying a greater debt payback period with its current earnings. The net asset value has increased because of the increase in the inventory and trade receivables.

Bank Facilities & Credit History

Exhibit 6: Bank Investment: Al-Baraka Library (As on October 30, 2012)
Bank Mode Bai Murabaha TR (Regular) Islami Bank Bangladesh Ltd BG/PG(Regular) Total (BDT in Millions) 20.86 20.00 Existing outstanding (BDT in Millions) Total limit (BDT Millions) 15.00 5.00 in

17.15 3.71

The business has been enjoying banking facility from IBBLs Sadarghat Branch, Dhaka. As per bank information, the business has been maintaining good banking relationship and did not miss any scheduled repayment.

Security/Mortgages:
Primary Security:
For the investment limit of BDT 20.00 million, M/S Al-Baraka Library has offered the following mortgage: i) Murabaha TR : Lien on goods to be released under TR till disposal and deposit of sales proceeds towards adjustment of the related investment account with the branch. TR to be obtained duly executed along with delivery order duly signed by the Investment client. ii) Bank Guarantee: Counter Guarantee of the client.

Collateral
The business has also offered registered mortgage of/creation of further charge on the following property(ies) along with a Registered Irrecoverable Power of Attorney from the mortgagor(s) in Banks favor to sell out the mortgaged property(ies) in case of default in payment of Banks dues by the client complying instructions laid down vide Instruction Circular No. IW/AMD/LAW/731, IW/AMD/LAW783, IPPD/825& LAW/2263 dated 20.08.2002 & 24.04.2003, 19.04.2004 & 09.11.2005 respectively:
SL No Area of land Particulars Collaterals (BDT in Millions) MV FSV 1) 2.11 (1.28 Katha) Land with 6 storied building (3000 sft) Commercial & residential MouzaWari, Dhaka, SRO-Shahar Dhaka, PS & Thana-Sutrapur, Dist-Dhaka, Khatian No. CS-9083,SA-1071,Hal643,RS-1189,Ward No.-1,Sheet No.-53,Plot No.-CS-1197,RS-1594. Residential flat Mouza4.54

2)

01(One) flats at first

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floor having 1350 sft at 7/2 Wari Dhaka Wari,Dhaka,SRO-Shahar Dhaka,PS & Thana-Sutrapur,DistDhaka,Khatian No.-CS-5954,SA1483,RS-3615,Plot No.-CS-175,SA4698,4699,RS-6719,6717 Residential flat MouzaWari,Dhaka,SRO-Shahar Dhaka,PS & Thana-Sutrapur,DistDhaka,Khatian No.-CS-5954,SA1483,RS-3615,Plot No.-CS-175,SA4698,4699,RS-6719,6717 Residential flat MouzaWari,Dhaka,SRO-Shahar Dhaka,PS & Thana-Sutrapur,DistDhaka,Khatian No.-CS-5954,SA1483,RS-3615,Plot No.-CS-175,SA4698,4699,RS-6719,6717 Residential flat MouzaWari,Dhaka,SRO-Shahar Dhaka,PS & Thana-Sutrapur,DistDhaka,Khatian No.-CS-5954,SA1483,RS-3615,Plot No.-CS-175,SA4698,4699,RS-6719,6717 7.25

3)

01(One) flats at 2nd floor having 1350 sft at 7/2 Wari Dhaka

9.00

4)

01(One) flats at 5th floor having 1350 sft at 7/2 Wari Dhaka

8.25

5)

01(One) flats at 5th floor having 1350 sft at 7/2 Wari Dhaka

8.25

Sub Total

37.29 Residential flat MouzaWari,Dhaka,SRO-Shahar Dhaka,PS & Thana-Sutrapur,DistDhaka,Khatian No.-CS-5954,SA1483,RS-3615,Mutated-1483/3,DP Jarip-1925,Plot No.-CS-175,SA4698,4699,RS-6719,6717,DP Jarip5437,5438.

Additional Collateral
01(One) flats at 1st floor having 1650 sft at 7/2 Wari Dhaka 9.9

Grand Total

47.19

Others: Personal guarantee(s) of the mortgagor(s) as well as the proprietor of the firm & its sister concern.

MANAGEMENT AND OTHER QUALITATIVE FACTORS:

Owners Profile
Proprietor, Mr. Mohemmed Norul Amin is a solvent business personality, having sound business track record. He is the founder of the business and solely run the business under his direct control. The owner is aptly supported by the other managerial and official staff to carry out smooth operation of the business and oversee the work of the filling and conversational personnel who are directly involved in making and selling products. His long experience has been driving the business steeply. He is a regular tax payer and he also makes donations to various charities each year.

IT Environment
The IT environment of the business is not state of art and it is not required that much as well as due to the nature of the business. The proprietor is not that much tech savvy and prefers manual record keeping system.

End of the Report

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Long Term Rating Scale and Definitions
AAA Issuers or issues rated AAA represents the strongest credit quality Bangladeshi obligors relative to other

AA

Issuers or issues rated AA represents very strong credit quality relative to other Bangladeshi obligors Issuers or issues rated A represents above average credit quality relative to other Bangladeshi obligors Issuers or issues rated BBB represents average credit quality of Bangladeshi obligors Issuers or issues rated BB represents slightly below average credit other Bangladeshi obligors Issuers or issues rated B represents weak credit quality relative to obligors quality relative to

BBB BB

other

Bangladeshi

CCC

Issuers or issues rated CCC represent very weak credit quality relative to other Bangladeshi obligors Issuers or issues rated CC and C both represent extremely weak credit quality relative to other Bangladeshi obligors. Rating of C will normally be assigned when an obligor is in technical default on certain commitments or obligations, but not yet in financial default. Issuers or issues rated D have failed to meet their rated financial commitment on time or when due

CC & C

Long term rating from AA to B may be modified by the inclusion of a plus (+) or minus (-) sign to indicate relative strength within the rating category. Short term Rating Scale

AR 1

Issuers rated AR 1 have the strongest ability to meet short term financial commitments relative to other Bangladeshi obligors Issuers rated AR 2 have an above average ability to meet short term financial commitments relative to other Bangladeshi obligors Issuers rated AR 3 have an average ability to meet short term financial commitments Issuers rated AR 4 have a below average ability to meet short term financial commitments relative to other Bangladeshi obligors Issuers rated AR 5 have a well below average ability to meet short term financial commitments relative to other Bangladeshi obligors Issuers rated AR 6 have failed to meet their short term financial commitments

AR 2

AR 3 AR 4

AR 5

AR 6 Rating Outlook

Rating Outlook assesses the potential direction of the Debt Rating over the intermediate term (typically over a one to two-year period). The Rating Outlook may either be : POSITIVE NEGATIVE STABLE DEVELOPING Which indicates that a rating may be raised; Which indicates that a rating may be lowered; Which indicates that a rating is likely to remain unchanged; or Which indicates that a rating may be raised, lowered or remain unchanged.

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--------------------------------------------------------------------- Disclaimer ---------------------------------------------------------------The Credit Rating Report is the property of Alpha Credit Rating Limited (AlphaRating). The Rating Report and all information contained herein shall not be copied or otherwise reproduced, repackaged, further transmitted, transferred, disseminated, redistributed or resold for any purpose, in whole or in part, in any form or manner or by any means whatsoever, by any person without AlphaRating's prior written consent. The Credit Rating Report and all information contained herein is provided on the basis of information believed by AlphaRating to be accurate and reliable as derived from publicly available sources or provided by the rated entity or its agents. A credit rating is not a recommendation to buy, sell, or hold any security and no investment decision should be made solely on the basis of a credit rating. AlphaRating may make modifications and/or changes in the Credit Rating Report and all information contained herein at any time, for any reason. Under no circumstances will AlphaRating or its affiliates be liable for any special, indirect, incidental or consequential damages of any kind, including, but not limited to, compensation, reimbursement or damages on account of the loss of present or prospective profits, expenditures, investments or commitments, whether made in the establishment, development or maintenance of business reputation or goodwill, cost of substitute materials, products, services or information, cost of capital, and the claims of any third party, or for any other reason whatsoever, even if AlphaRating has been advised of the possibility of such damages. Any person making use of and/or relying on the Credit Rating Report and all information contained herein hereby acknowledges that he has read this Disclaimer and has understood it and agrees to be bound by it. -------------------------------------------------------------------------------------------------------------------------------------------------------- Alpha Credit Rating Ltd 2012

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