Corporate_Risk_Rating_Model by hedongchenchen

VIEWS: 15 PAGES: 136

									      ROBFEL BANK

CREDIT RISK RATING SYSTEM

       Mort Glantz
INTRODUCTION TO CREDIT RISK GRADING

Risk Grading is a key part of the credit management process of banks with commercial
loan portfolios. Risk grading provides a systematic methodology for uniformly analyzing
risk across banking institutions. The risk rating (or grading) system is an
interactive process based on a ten point review .

There are two major classifications of risk in any transaction. The first is risk associated
with the borrower and the second is risk associated with the facility. Of the critical risk
factors associated with a transaction, borrower or obligor risk is centered on factors
dealing with operating cash flows, debt capacity, asset/liability quality, valuation
concerns, financial reporting, management, industry, economic and country risk factors,
guarantees and collateral.

Facility risks are adjusted for factors such as borrowing purpose, tenor, loan
documentation and portfolio risk. Obligor risk and facility risk combine to form the final
risk grade.

Credit grades form the basis upon which capital and loan provisions are calculated,
developed and assessed, allowing for the measurement of risk and reward through
risk adjusted return on equity, return on assets, and other key bank ratios. These
measurements serve as fundamental tools for pricing individual transactions as well as
guides for resource allocation and active portfolio management and planning.

Risk rating is an excellent training tool. The process breaks down complex credits into
its most elemental parts, and recasts them later in the most compelling logic.

Thus, the principles underlying the risk rating process are ongoing and involve among
other factors:

 o common training via risk grading guidelines;
 o initiation and maintenance of borrower and facility risk ratings on a continuous basis;
 o review of credit grades (ratings) by RobFel's credit audit areas to test for accuracy,
   consistency, and timeliness;
 o development of the latest methods and quantitative techniques to insure accuracy in
   the risk grading process;
 o reinforce the skill and experience of credit and marketing officers and staff;
 o combine with traditional policy in setting rates and/or fees commensurate with the risk
   level;
 o determining the degree of lending officer service and monitoring required.

SYSTEM OVERVIEW

RobFel-BANK's Industrial and Commercial Risk Grading worksheet is a 10 point
interactive system designed to provide maximum flexibility while maintaining ease of
use. This is accomplished in several ways. The workbook is menu driven complete with
interactive dialog boxes.. There is no need to memorize commands. Simply select
options from menus, click on tabs at the bottom of the worksheets, or respond to dialog
boxes that pop up on the screen.

Each section within The Industrial and Commercial Risk Grading interacts with other
sections. Simply record the risk grade below each component. The cumulative grades
are - in most cases - determined by the program.


Overview of the Risk Rating System's Auditing Algorithms

The system opens to a dialog box. You complete name, borrowers name and
address, date, maximum exposure, brief description of facility, last credit risk grade (if
any), and check if guarantees or collateral support the credit. The information is
transferred to the appropriate areas of the Risk Rating System.

The system has been programmed to track data entry continuously, checking for
missing information or errors. Macros will prevent printing (including range printing) if
you skip grades. By selecting ...Risk....Verify Data Entry you prompt the
computer to locate and disclose errors via a dialog box....." Missing Category Risk for:
Debt Capacity/Financing Flexibility" or ..................." Missing Category Risk for:
Microeconomic and Environment"

If you decide to override cumulative grades dealing with Contingencies ,
Financial Reporting or Industry , you will be prompted to enter a reason for the
override. The system is programmed to accept override decisions, but will prompt
you (via a dialog box) to enter a reason for the override (inside the dialog box) The
system generates (prints) a new report....."Reasons for Override". If you try
to bypass these auditing procedures by range printing, printed pages will carry a
heading...."No Reason Entered by the Analyst".

If changes need to be made to the opening dialog box, you can select Update
Dialog Box from the main menu.

If a guarantee does not support the credit, the system takes out the guarantee
worksheet.

If collateral does not support the credit, the system takes out the collateral worksheet.

The system prints automatically. Select Risk.....Print .....Entire System to print the entire
Risk Rating System. Select Risk.....Print .....Summary Analysis to print the Summary. If
the reports print "off the page", the print macros may need adjustment so that they work
with the Bank's printers. Simply, locate the Zoom command inside the print macro.
Zoom = 80. Change the zoom to perhaps Zoom = 75. Experiment and printing should
work.
DATA NOT VERIFIED!



RobFel Bank                      Analyst                           John Smith                 Facility:                                       Bridge                                        Borrower:
General Corporate                Previous Grade                         3                     Maximum Exposure                                                                      80000   Address

  B ORROWER          Exp ected     Expected       MODULE 1 :                    O B L I G O R                 F I N A N C I                             A      L            M E A S U R E S
  RATING              Bond          Default            Operating Cash Flows                           DEBT CAPACITY                                                  ASSET                                     VALUATION
                      Ratin g    Factor in b.p.      Trends, Quality Magnitude                   AND FINANCING FLEXIBILITY                                          QUALITY                                    MEASURES
                                                  T O P PRO FIT MARG INS IN INDUST RY         SUPERB DEBT CAPACIT Y                           BALANCE SHEET HIG HLY LIQ UID.                ECO NO MIC ASSET VALUES W ELL IN

  1:                             EDF High 0.02    FIVE YEAR CASH FLO W T RENDS IMPRESSIVE                                                     INT ANG IBLES W / "REAL VALUE"                EXCESS O F DEBT MARKET VALUES.
 SUBSTAN-                        EDF Mean 0.02    SUPERB Q UALIT Y CASH FLO W .               LEVERAG E AND CO VERAG E AMO NG                 HIG HEST Q UALIT Y AND W ELL

 TIALLY                AAA       EDF Low 0.02     G RO W T H FINANCED INT ERNALLY W IT H      BEST IN INDUST RY.                              DIVERSIFIED ASSET BASE LO W EST RISK          SUBST ANT IAL SPREAD BET W EEN
 RISK                                             MINIMUM RELIANCE O N O UT SIDE                                                              SUBST ANT IAL HIDDEN RESERVES; UNDERVALUED    O PERAT ING PRO FIT MARG IN G RO W TH RATES
 FREE                                                                                         ALMO ST UNLIMIT ED FINANCING FLEX-              ASSET S.                                      AND CO MPET IT O R'S G RO W T H RAT ES
                                                                                              ABILIT Y. BRO AD VARIET Y O F CAPIT AL
                                                                                              MARKET INST RUMENT S AVAILABLE.

                                                                                              LEVERAG E AND CO VERAG E EXCELLENT              SO LID LIQ UIDIT Y.

  2:                   AA                         VERY ST RO NG EARNING S.                    AG AINST PEERS.

 MINIMAL                                          O PERAT ING CASH FLO W S EASILY CO VER                                                      LIABILIT Y T YPE AND ASSET ST RUCT URE

 RISK                            EDF High 0.13    NO N-DISCRET IO NARY INVEST MENT S.         AMPLE ACCESS T O CAPIT AL MARKET S              FIT EXT REMELY W ELL.

                                 EDF Mean 0.02                                                O R LARG E BANKS.

                                 EDF Low 0.02     PRO FIT MARG INS W ELL ABO VE INDUST RY                                                     MINIMUM LO W Q UALIT Y ASSET S

                                                  AVERAG ES.                                  DEBT MAT URIT IES EASILY MANAG EABLE.

                                                                                                                                              EXCELLENT T URNO VER O F LIQ UID

                                                  EXCELLENT BALANCE BET W EEN INT ERNAL/      SO LID INVEST MENT G RADE                       ASSET S.

                                                  EXT ERNAL FINANCING .

                                                                                              LEVERAG E AND CO VERAG E ABO VE                 G O O D ASSET Q UALIT Y AND LIQ UIDIT Y       ECO NO MIC ASSET VALUES IN

  3:                    A                         EARNING S T END T O FLUCT UAT E BUT ARE     INDUST RY AVERAG E                              W ELL ABO VE AVERAG E.                        EXCESS O F DEBT MARKET VALUES.

 MODEST                                           ACCEPT ABLE/AVERAG E FO R T HE INDUST RY.

 RISK                            EDF High 0.27                                                REASO NABLE ACCESS T O CAPIT AL                 ASSET BASE LESS DIVERG ENT . EXCEL-           HEALT HY SPREAD BET W EEN

                                 EDF Mean 0.06                                                MARKET S O R LARG E BANKS.                      LENT T URNO VER O F LIQ UID ASSET S           O PERAT ING PRO FIT MARG IN G RO W TH RATES

                                 EDF Low 0.03                                                                                                 PRO DUCT IO N FACILIT IES ACCEPT ABLE         AND CO MPET IT O R'S G RO W T H RAT ES

                                                  O PERAT ING CASH FLO W S CO VER INVEST -    DEBT MAT URIT IES EASILY MANAG EABLE.

                                                  MENT S NEEDED FO R G RO W T H REQ UIRING    INT EREST CO VERAG E G O O D.                   ASSET S AND LIABILIT Y

                                                  MO DERAT E FINANCING                        G O O D INVEST MENT G RADE W IT H AMPLE         ST RUCT URE AND MAT URIT IES W ELL

                                                                                              DEBT CAPACIT Y.                                 ARRANG ED AND BALANCED.

                                                  EARNING S T RENDS PO SIT IVE BUT FALL       ACCESS T O CAPIT AL MARKET S MAY                SAT ISFACT O RY ASSET Q UALIT Y AND

  4:                  BBB+                        SLIG HT LY BELO W INDUST RY AVERAG E AND    BE LIMIT ED DURING PERIO DS O F                 LIQ UIDIT Y. G O O D T URNO VER O F           ECO NO MIC ASSET VALUES ABO VE DEBT

                                                  MAY BE MO DERAT ELY CYCLICAL.               ECO NO MIC DO W NT URNS.                        LIQ UID ASSET S.                              MARKET VALUES.

 AVERAGE                To       EDF High 0.87
 RISK                            EDF Mean 0.16    CASH FLO W S FALL BELO W INVEST MENT        FLO O R LEVEL INVEST MENT G RADE.               ASSET Q UALIT Y ABO VE INDUST RY AVG .

                       BBB       EDF Low 0.08     NEEDS NECESSIT AT ING MO DEST LEVELS                                                                                                      ABO VE AVERAG E SPREAD BET W EEN

                                                  O F DEBT .                                  REASO NABLE DEBT CAPACIT Y BUT                  ASSET S AND SUPPO RT ING LIABILIT Y           O PERAT ING PRO FIT MARG IN G RO W TH RATES

                                                                                              LEVERAG E AND CO VERAG E BELO W PEERS.          ST RUCT URE/MAT URIT IES BALANCED             AND CO MPET IT O R'S G RO W T H RAT ES

                                                  DEBT REFINANCING T HE RULE RAT HER T HAN

                                                  EXCEPT IO N

                                                  CASH FLO W Q UALIT Y IS ACCEPT ABLE.        DEBT CAPACIT Y SO MEW HAT ST RAINED.            ASSET S PRO VIDE G O O D SAFET Y              ECO NO MIC ASSET VALUES MAT CH

  5:                                                                                          LIMIT ED ACCESS T O CAPIT AL MARKET S.          MARG IN. SO ME DEPENDENCE O N                 DEBT MARKET VALUES.

 ABOVE                BBB-                        PRO FIT MARG INS G ENERALLY W EAK           LEVERAG E AND CO VERAG E BELO W                 INT ANG IBLES.

 AVERAGE                         EDF High 1.62    AG AINST T HE INDUST RY.                    INDUST RY AVERAG E

 RISK                   To       EDF Mean 0.25                                                                                                LIQ UIDIT Y T URNO VER RAT IO S ARE           SLIG HT SPREAD BET W EEN

                                 EDF Low 0.24     CASH FLO W S MAY NO T BE CO NSIST ENT LY    AVERAG E ACCESS T O ALT ERNAT IVE LIQ UIDIT Y   ADEQUATE                                      O PERAT ING PRO FIT MARG IN G RO W TH RATES

                       BB+                        ST ABLE                                                                                                                                   AND CO MPET IT O R'S G RO W T H RAT ES

                                                                                                                                              LIABILIT Y AND T ENO R PRO VIDE AVER

                                                                                                                                              MAT CH FO R ASSET ST RUCT URE.

                                                  PRO FIT MARG INS MEASURABLY BELO W          LEVERAG E MAY BE NEAR MAXIMUM LEVELS.           ASSET Q UALIT Y ACCEPT ABLE BUT               ECO NO MIC ASSET VALUES O CCASIO NALLY

  6:                   BB                         INDUST RY AVERAG E AND ARE SUBJECT T O      CO VERAG E W EAK.                               BELO W AVERAG E.                              BELO W DEBT MARKET VALUES.

 HIGH RISK                       EDF High 2.65    VO LAT ILIT Y.

                        To       EDF Mean 0.52                                                LIMIT ED ACCESS T O ALT ERNAT IVE LIQ UIDIT Y   LIQ UIDIT Y MARG INS T IG HT . T URNO VER

                                 EDF Low 0.24     PRO FIT MARG INS ARE DECLINING IN                                                           O F LIQ UID ASSET S BELO W AVERAG E.          O PERAT ING PRO FIT MARG IN G RO W TH RATES

                       BB-                        O PPO SIT IO N T O INDUST RY T RENDS.       VERY LIT T LE SUPPO RT FRO M PARENT .                                                         MARG INALLY BELO W

                                                                                                                                              CO NSIDERABLE INT ANG IBLES MAY               CO MPET IT O R'S G RO W T H RAT ES

                                                  CASH FLO W S ARE HIG HLY SENSIT IVE T O                                                     EXIST .

                                                  ECO NO MIC AND INDUST RY CYCLES.



                                                  CASH FLO W S VULNERABLE T O ECO NO MIC      NO ADDIT IO NAL BO RRO W ING CAPACIT Y          ASSET Q UALIT Y W ELL BELO W PEERS.           ECO NO MIC ASSET VALUES MAY BE SUBST ANT IALLY

  7:                                              DO W NT URNS.                               AT LARG ER BANKS.                               LIQ UIDIT Y W EAK AND ST RAINED.              BELO W DEBT MARKET VALUES.

 MANAGEMENT             B        EDF High 5.44
 ATTENTION                       EDF Mean 1.89    PRO FIT MARG INS IN LO W EST INDUST RY      HEAVY DEBT MAT URIT IES.                        MISMAT CH MAY EXIST BET W EEN ASSET           O PERAT ING PRO FIT MARG IN G RO W TH RATES

                                 EDF Low 0.64     Q UALIT IES.                                                                                ST RUCT URE AND LIABILIT Y                    MAY BE BELO W

                                                                                                                                              ST RUCT URE/T ENO R                           CO MPET IT O R'S G RO W T H RAT ES

                                                  CASH FLO W S PRO BABLY NO T ABLE T O

                                                  ABSO RB MACRO ECO NO MIC SHO CKS.



                                                  EARNING S CANNO T CO VER FIXED CHARG ES

                                                  THE OBLIGERS FINANCIAL MEASURES INDICATE UNACCEPTABLE RISK. CASH FLOW QUALITY, MAGNITUDE AND
  8:                                              TRENDS DISPLAY FUNDAMENTAL W EAKNESSES W ITH PROGNOSIS FOR IMPROVEMENT HIGHLY UNLIKELY. THE
 SPECIAL                                          OBLIGOR HAS PROBLEMS COVERING INTEREST AND FIXED CHARGES W ITH OPERATING CASH FLOW S. OBLIGATIONS
 MENTION                C        EDF High 19.06   ARE INADEQUATELY PROTECTED BY THE CURRENT SOUND W ORTH AND PAYING CAPACITY OF THE OBLIGOR.
 OR                              EDF Mean 2.89    LOANS IN THIS CATEGORY HAVE W EAKNESSES THAT JEOPARDIZE THE LIQUIDATION OF THE DEBT. THUS, THERE
 SUB-                            EDF Low 2.85     IS A DISTINCT POSSIBILITY THAT THE BANK W ILL SUSTAIN SOME LOSS IF THE DEFICIENCIES ARE NOT
 STANDARD                                         CORRECTED.




                                                  THE OBLIGOR'S FINANCIAL MEASURES INDICATE VERY SERIOUS PROBLEMS THAT PROBABLY MEAN
  9:                                              RESTRUCTURING OF ALL OR PARTIAL COMMITMENTS. A LOAN CLASSIFIED DOUBTFUL MAKE COLLECTION OR
 DOUBTFUL               D                         LIQUIDATION 'IN FULL, ON THE BASIS OF CURRENTLY EXISTING FACTS, CONDITIONS, AND VALUES, HIGHLY
                                 EDF High         QUESTIONABLE AND IMPROBABLE.
                                 >19.06




                                                  THE CONDITION OF THE COMPANY MAKES IT LIKELY THAT OBLIGATIONS ARE OF SUCH LITTLE VALUE THAT
  10:                                             THEIR CONTINUANCE AS BANKABLE ASSETS IS NOT W ARRANTED. IT IS LIKELY THAT THE BANK
 LOSS                   D        EDF High         W ILL LOSE BOTH PRINCIPAL AND INTEREST.
                                 >19.06
                                                  THIS CLASSIFICATION DOES NOT MEAN THAT THE ASSET HAS ABSOLUTELY NO RECOVERY OR SALVAGE VALUE,
                                                  BUT RATHER IT IS NOT PRACTICAL OR DESIRABLE TO DEFER W RITING OF THIS BASICALLY W ORTHLESS
                                                  ASSET EVEN THOUGH PARTIAL RECOVERY MAY BE EFFECTED IN THE FUTURE.




  CATEGORY RISK GRADE                                                   3                                           4                                                  4                                              4
  CUMULATIVE RISK GRADE                                               3.00                                        3.33                                               3.43                                           3.71
  ACCEPT/OVERRIDE
DATA NOT VERIFIED!




    Obligor Financial Measures: Examples

o   Company has good cash flow but debt capacity is somewhat strained and financial
    flexibility may be limited. You believe a 5 credit grade is justified.

o   Normal credit grade (4), but company has significant contingent liabilities of an
    uncertain nature such that an unfavorable event likely will occur before loan maturity. A
    substantial erosion of tangible net worth is likely. The program dropped cumulative
    grade to 7. You agree.

o   Company operates near break-even or has losses, financial reporting is poor (i.e.,
    rating of 6 or 7 without qualification by a local accounting firm whose reputation is
    unknown, limited footnotes), support provided by soft comfort letter from German
    parent. The computer dropped the cumulative grade to 10. You let the grade stand.

o   Company, engaged In home infusion therapy and formed from the merger of 6 entities,
    is highly leveraged with modest or negative tangible net worth, operates in a dynamic
    and growing Industry (health care) where it is a major player (#1 or #2 in its market
    segments). As it consolidates its recent acquisitions, which creates economies of scale
    re overhead and gives the entity a national presence, the company will generate
    sufficient profits and cash flow from volume increases (new patients) to offset lower
    prices dictated by managed care and pays back our term loan. The revolver and
    subordinated debt will likely be refinanced. The company is publicly held and well
    regarded in the market, as is management is known for being on the cutting edge.
    Suggest Risk Grade: 4

o   Company has good profits and cash flow but limited financial flexibility due to high
    leverage. Stability of cash flows is helped by a contractual agreement with the former
    owner (a "AAA" credit) to purchase product equal to its current purchase from our
    operating margin. these terms go beyond the tenor of our facilities. The facilities
    include an amortizing term loan and revolving credit with collateral (all assets) with a
    book value equal to outstanding at inception of the deal.

o   19 year lease transaction of a commercial jet with an exploding rate feature that is
    expected to be refinanced with 12 months by an equipment trust certificate. While
    there is no recourse to the borrower, the plane is leased to one of the top 2 or 3
    domestic carriers, giving confidence in the cash flow generating ability of the aircraft
    under lease.
                   DATA NOT VERIFIED!



Great CoupleDesign, Inc.                                                                                                                          General Corporate: Cumulative Grade Weights
123 Success Court, Old Westbury, NY                                                                                                               Basic Materials Combination cash flow and refinancing (no assets)
                                                                                                                                                  Operating Cash Flows                 1         2          4         4
MODULE 2                          S U B J E C T I V                           E            M E        A S U R E S                                 Debt Capacity and Financing Capacity           1          2         5
                                                                 FINANCIAL                                      MANAGEMENT                        Asset/Liability Quality                                   1         3
           CONTINGENCIES                                        REPORTING                                          DEPTH                          Valuation                                                           2
CO NT ING ENCIES ARE MINO R AND HAVE                                                             W O RLD CLASS O RG ANIZAT IO N O R               Management Depth/Accept or Enter 6     6 : 1 Means Relationship Between
LIT T LE O R NO IMPACT O N VALUE O R           CLEAN AUDIT W IT H NO CLARIFICAT IO NS            G O VERNMENT O F MAJO R INDUST RIAL                                                     Cumulative Grade and Management De
FINANCIAL RISK                                                                                   CO UNT RY



                                               REPUT ABLE ACCO UNT ING FIRM                      O UT ST ANDING INT ERNAL CO NT RO LS
DISCO UNT ED EXPECT ED VALUE O F
CO NT ING ENCIES HAVE MINIMAL O R NO                                                             SUPERB ST RAT EG IC PLANNING
IMPACT O N T ANG IBLE NET W O RT H

                                                                                                 W IDE EXPERIENCE W IT H PRO FUNDIT Y IN MO ST

                                                                                                 SENIO R MANAG EMENT PO SIT IO NS.

EXPECT ED VALUE O F CO NT ING ENCIES

CERT AIN                                                                                         O PERAT IO NS HIG HLY EFFICIENT , INT ERNAL

                                                                                                 CO NT RO LS W ELL EST ABLISHED.




                                                                                                 FIRM G RASP HO W EXO G ENO US FO RCES

                                                                                                 INT ERACT W IT H CO MPANY/INDUST RY

                                               CLEAN AUDIT O R AUDIT W IT H Q UALIFICAT IO NS    BRO AD INDUST RY EXPERIENCE.

                                               O F NO MINAL IMPACT .

                                                                                                 MANAG EMENT DEPT H IN MANY AREAS.

                                               REPUT ABLE ACCO UNT ING FIRM.

                                                                                                 O PERAT ING EFFICIENCY AND FACILIT IES

                                               MANAG EMENT INFO RMAT IO N IS T IMELY,            BET T ER T HAN AVERAG E.

                                               DET AILED AND ACCURAT E.

                                                                                                 G O O D G RASP HO W EXO G ENO US FO RCES

                                               BUSINESS PLAN W ELL CRAFT ED , FO CUSED           INT ERACT W IT H CO MPANY/INDUST RY

                                               ST RAT EG ICALLY O N T ARG ET AND DEFINED.

                                                                                                 AVERAG E INDUST RY EXPERIENCE AND

CO NT ING ENCIES MAY CAUSE SO ME                                                                 MANAG EMENT DEPT H.

MINO R ERO SIO N O F T ANG IBLE NET W O RT H

                                                                                                 O PERAT ING EFFICIENCIES AND FACILIT IES

CO NT ING ENCIES W ILL NO T HAVE IMPACT                                                          AVERAG E.

IN IMMEDIAT E T ERM.

                                                                                                 CO NT RO LS ACCEPT ABLE.

CO NT ING ENCIES CERT AIN

                                                                                                 ST RAT EG IC RESPO NSIBILIT IES SPREAD

                                                                                                 AMO NG G RO UPS O F MANAG EMENT .

CO NT ING ENCIES MAY CAUSE SO ME               CLEAN AUDIT O R AUDIT W IT H Q UALIFICAT IO NS    REASO NABLE INDUST RY EXPERIENCE

ERO SIO N O F T ANG IBLE NET W O RT H          O F NO MINAL IMPACT .                             W IT H MO DEST DEPT H IN SENIO R PO SIT IO NS.



LEVERAG E AND CO VERAG E RAT IO S MAY          REPUT ABLE ACCO UNT ING FIRM.                     FACILIT IES O LDER AND CO NT RO LS MAY FALL

DET ERIO RAT E SLIG HT LY                                                                        BELO W AVERAG E.

                                               MANAG EMENT INFO RMAT IO N IS T IMELY,

Q UEST IO NS REG ARDING CERT AINT Y            DET AILED AND ACCURAT E.

                                                                                                 BELO W AVERAG E SHARING O F ST RAT EG IC

                                                                                              RESPO
                                               BUSINESS PLAN ADEQ UAT ELY CRAFT ED , SO ME PRO BLEMSNSIBILIT IES AMO NG DIVISIO NAL MG T .

CO NT ING ENCIES MAY HAVE CAUSE                Q UALIFICAT IO NS IN AUDIT T HAT MAY HAVE         SENIO R MANAG EMENT MAY BE T IME W O RN

                                               A
MO DERAT E ERO SIO N O F T ANG IBLE NET W O RT H NEG AT IVE IMPACT . UNAUDIT ED ST AT EMENT S

                                               MAY LACK RELIABILIT Y.                            LIMIT ED INDUST RY EXPERIENCE W IT H DEPT H

LEVERAG E AND CO VERAG E RAT IO S MAY                                                            G ENERALLY LACKING , O R UNT EST ED

DET ERIO RAT E                                 CREDIT ABILIT Y O F ACCO UNT ING FIRM MAY BE      FACILIT IES O UT DAT ED AND PRO BABLY NO T

                                               Q UEST IO NABLE. LO W LEVEL O F CO NFIDENCE       EFFICIENT .

                                               IN ADHERING T O G AP ST ANDARDS.

                                                                                                 PRO DUCT IO N O PERAT IO NS MAY BE

                                               O BLIG E O PERAT ES W IT HO UT CLEAR              O BSO LET E.

                                               BUSINESS PLAN                                     W EAK INT ERNAL CO NT RO LS.

CO NT ING ENCIES ARE SEVERE AND MAY            AUDIT CO NT AINS SIG NIFICANT DISCLAIMERS         PO O R, INEXPERIENCED MANAG EMENT ;

RESULT IN SERIO US ERO SIO N O F               O R AN ADVERSE O PINIO N. ST AT EMENT S USUALLY   NO DEPT H.

CO RPO RAT E VALUE.                            60 T O 90 DAYS LAT E.

                                                                                                 LIMIT ED BREAT H; INDUST RY KNO W LEDG E.

CO VERAG E AND LEVERAG E W ILL LIKELY          BUSINESS PLAN W EAKLY DEFINED, MAY NO T           Q UEST IO NABLE REPUT AT IO N.

DET ERIO RAT E SIG NIFICANT LY IN T HE         BE T ARG ET ED O R ACCURAT E                      FACILIT IES MAY BE O BSO LET E.

NEAR T ERM

                                                                                                 INT ERNAL CO NT RO LS LACKING O R VERY

                                                                                                 W EAK.

                                                                                                 HIG H MANAG EMENT T URNO VER

                                               AUDIT CO NT AINS SIG NIFICANT DISCLAIMERS

HIG H UNCERT AINT Y REG ARDING                 O R AN ADVERSE O PINIO N. T IMELINESS O F         EXCESSIVE RISK
CO NT ING ENCIES                               ST AT EMENT S ARE PRO BLEMAT IC.



                                               ACCO UNT ING ST ANDARDS ARE UNRELIABLE,

                                               O R DIFFICULT T O JUDG E. INSUFFICIENT

                                               INFO RMAT IO N T O JUDG E CREDIT W O RT HINESS

MAJO R CO NT ING ENCIES EXIST .                O F O BLIG O R

                                               BUSINESS PLAN PO O RLY DEFINED, INACCURAT E


SEVERE ERO SIO N O N VALUE LIKELY.

                                                                                                 UNACCEPTABLE RISK
DET ERIO RAT IO N O F FINANCIAL RAT IO S

PRO BABLE.




                                                                                                 STRONG POSSIBILITY OF LOSS




                     5                                                   4                                               4
                   3.71                                                3.71                                            3.71
DATA NOT VERIFIED!
              DATA NOT VERIFIED!




 Between
Management Depth
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!




                     The best alllllllllllllllllllllll
DATA NOT VERIFIED!
DATA NOT VERIFIED!




            The best alllllllllllllllllllllllllllllllllllllllllllllllllllll
              DATA NOT VERIFIED!                                           FINDEV




BORROWER            Expected         Expected       MODULE 2 :   Financial Situations & Recent Developments
     RATING          Bond             Default
                     Rating        Factor in b.p.

1:                                 EDF High 0.02
SUBSTAN-                           EDF Mean 0.02
TIALLY            AAA to AA-       EDF Low 0.02
RISK
FREE




2:
MINIMAL
RISK                AA to A-       EDF High 0.13
                                   EDF Mean 0.02
                                   EDF Low 0.02




3:
MODEST
RISK              A+ to BBB+       EDF High 0.27
                                   EDF Mean 0.06
                                   EDF Low 0.03




4:

AVERAGE                            EDF High 0.87
RISK             BBB+ to BBB       EDF Mean 0.16
                                   EDF Low 0.08




5:
ABOVE
AVERAGE                            EDF High 1.62
RISK             BBB to BBB-       EDF Mean 0.25
                                   EDF Low 0.24




6:
HIGH RISK                          EDF High 2.65
                                   EDF Mean 0.52
                 BBB- to BB-       EDF Low 0.24




7:
MANAGEMENT              B          EDF High 5.44
ATTENTION                          EDF Mean 1.89
                                   EDF Low 0.64




8:
SPECIAL
MENTION                 C          EDF High 19.06
OR                                 EDF Mean 2.89
SUB-                               EDF Low 2.85
STANDARD




9:
DOUBTFUL                D
                                   EDF High
                                   >19.06




10:
                                                                           Page 15
           DATA NOT VERIFIED!                                           FINDEV




BORROWER         Expected         Expected       MODULE 2 :   Financial Situations & Recent Developments
  RATING          Bond             Default
                  Rating        Factor in b.p.
LOSS                 D          EDF High
                                >19.06




Obligor Grade                       3.71
CUMULATIVE RISK Adjustment

CUMULATIVE RISK GRADE               3.71
Date of Last Audit              Reason for
                                Adjustment:




                                                                        Page 16
            DATA NOT VERIFIED!                    FINDEV




BORROWER             Expected      Expected
     RATING            Bond         Default
                       Rating    Factor in b.p.

1:                               EDF High 0.02
SUBSTAN-                         EDF Mean 0.02
TIALLY              AAA to AA-   EDF Low 0.02
RISK
FREE




2:
MINIMAL
RISK                 AA to A-    EDF High 0.13
                                 EDF Mean 0.02
                                 EDF Low 0.02




3:
MODEST
RISK               A+ to BBB+    EDF High 0.27
                                 EDF Mean 0.06
                                 EDF Low 0.03




4:

AVERAGE                          EDF High 0.87
RISK              BBB+ to BBB    EDF Mean 0.16
                                 EDF Low 0.08




5:
ABOVE
AVERAGE                          EDF High 1.62
RISK               BBB to BBB-   EDF Mean 0.25
                                 EDF Low 0.24




6:
HIGH RISK                        EDF High 2.65
                                 EDF Mean 0.52
                   BBB- to BB-   EDF Low 0.24




7:
MANAGEMENT                B      EDF High 5.44
ATTENTION                        EDF Mean 1.89
                                 EDF Low 0.64




8:
SPECIAL
MENTION                   C      EDF High 19.06
OR                               EDF Mean 2.89
SUB-                             EDF Low 2.85
STANDARD




9:
DOUBTFUL                  D
                                 EDF High
                                 >19.06




10:
                                                  Page 17
       DATA NOT VERIFIED!                    FINDEV




BORROWER        Expected      Expected
  RATING          Bond         Default
                  Rating    Factor in b.p.
LOSS                 D      EDF High
                            >19.06




Obligor Grade                   3.71
CUMULATIVE RISK Adjustment

CUMULATIVE RISK GRADE           3.71
Date of Last Audit          Reason for
                            Adjustment:




                                             Page 18
            DATA NOT VERIFIED!                    FINDEV




BORROWER             Expected      Expected
     RATING            Bond         Default
                       Rating    Factor in b.p.

1:                               EDF High 0.02
SUBSTAN-                         EDF Mean 0.02
TIALLY              AAA to AA-   EDF Low 0.02
RISK
FREE




2:
MINIMAL
RISK                 AA to A-    EDF High 0.13
                                 EDF Mean 0.02
                                 EDF Low 0.02




3:
MODEST
RISK               A+ to BBB+    EDF High 0.27
                                 EDF Mean 0.06
                                 EDF Low 0.03




4:

AVERAGE                          EDF High 0.87
RISK              BBB+ to BBB    EDF Mean 0.16
                                 EDF Low 0.08




5:
ABOVE
AVERAGE                          EDF High 1.62
RISK               BBB to BBB-   EDF Mean 0.25
                                 EDF Low 0.24




6:
HIGH RISK                        EDF High 2.65
                                 EDF Mean 0.52
                   BBB- to BB-   EDF Low 0.24




7:
MANAGEMENT                B      EDF High 5.44
ATTENTION                        EDF Mean 1.89
                                 EDF Low 0.64




8:
SPECIAL
MENTION                   C      EDF High 19.06
OR                               EDF Mean 2.89
SUB-                             EDF Low 2.85
STANDARD




9:
DOUBTFUL                  D
                                 EDF High
                                 >19.06




10:
                                                  Page 19
       DATA NOT VERIFIED!                    FINDEV




BORROWER        Expected      Expected
  RATING          Bond         Default
                  Rating    Factor in b.p.
LOSS                 D      EDF High
                            >19.06




Obligor Grade                   3.71
CUMULATIVE RISK Adjustment

CUMULATIVE RISK GRADE           3.71
Date of Last Audit          Reason for
                            Adjustment:




                                             Page 20
DATA NOT VERIFIED!                                                FINDEV




                     BORROWER        Expected      Expected
                          RATING      Bond          Default
                                      Rating     Factor in b.p.

                     1:                          EDF High 0.02
                     SUBSTAN-                    EDF Mean 0.02
                     TIALLY        AAA to AA-    EDF Low 0.02
                     RISK
                     FREE




                     2:
                     MINIMAL
                     RISK            AA to A-    EDF High 0.13
                                                 EDF Mean 0.02
                                                 EDF Low 0.02




                     3:
                     MODEST
                     RISK          A+ to BBB+    EDF High 0.27
                                                 EDF Mean 0.06
                                                 EDF Low 0.03




                     4:

                     AVERAGE                     EDF High 0.87
                     RISK          BBB+ to BBB   EDF Mean 0.16
                                                 EDF Low 0.08




                     5:
                     ABOVE
                     AVERAGE                     EDF High 1.62
                     RISK          BBB to BBB-   EDF Mean 0.25
                                                 EDF Low 0.24




                     6:
                     HIGH RISK                   EDF High 2.65
                                                 EDF Mean 0.52
                                   BBB- to BB-   EDF Low 0.24




                     7:
                     MANAGEMENT         B        EDF High 5.44
                     ATTENTION                   EDF Mean 1.89
                                                 EDF Low 0.64




                     8:
                     SPECIAL
                     MENTION            C        EDF High 19.06
                     OR                          EDF Mean 2.89
                     SUB-                        EDF Low 2.85
                     STANDARD




                     9:
                     DOUBTFUL           D
                                                 EDF High
                                                 >19.06




                     10:
                                                                  Page 21
DATA NOT VERIFIED!                                              FINDEV




                     BORROWER       Expected      Expected
                       RATING         Bond        Default
                                      Rating   Factor in b.p.
                     LOSS                 D    EDF High
                                               >19.06




                     Obligor Grade                  3.71
                     CUMULATIVE RISK Adjustment

                     CUMULATIVE RISK GRADE         3.71
                     Date of Last Audit        Reason for
                                               Adjustment:




                                                                Page 22
DATA NOT VERIFIED!


    MODULE 3


    OBLIGOR GRADES: INDUSTRY
    BORROWER           Expected       Expected                                    INDUSTRY RISK
    RATING              Bond           Default                        INDUSTRY                                 POSITION W ITHIN

                        Rating      Factor in b.p.                    SEGMENT                                      INDUSTRY

                                                     INDUSTRY CYCLICALLY AT LOW EST LEVEL           LEADER W ITH DOMINANT SHARE

    1:                             EDF High 0.02     EXTREMELY SMALL SENSITIVITIES TO ECONOMICAL    IN STABLE INDUSTRY. PRICING


    SUBSTAN-                       EDF Mean 0.02     DOW NTURNS                                     LEADER AND LOW COST PRODUCER.

    TIALLY           AAA to AA-    EDF Low 0.02                                                     PERFORMANCE RATIOS AMONG BEST

    RISK                                             REGULATORY CLIMATE EXCEPTIONALLY               IN INDUSTRY.

    FREE                                             CONDUCIVE TO INDUSTRY

                                                                                                    RANKS IN TOP TIER OF INDUSTRY


                                                     LONG PRODUCT LIFE CYCLE



                                                     VERY STABLE GROW TH INDUSTRY                   NEAR TOP IN INDUSTRY W ITH



    2:                                                                                              VERY STRONG MARKET SHARE.


    MINIMAL                                          MINIMUM CYCLICALLY                             INFLUENCES INDUSTRY PRICING.

    RISK               AA to A-    EDF High 0.13                                                    PERFORMANCE RATIOS

                                   EDF Mean 0.02     LOW SENSITIVITY TO ECONOMIC DOW NTURN          SUBSTANTIALLY BETTER THAN
                                   EDF Low 0.02                                                     PEERS.

                                                     REGULATORY CLIMATE CONDUCIVE TO INDUSTRY

                                                     LONG PRODUCT LIFE CYCLE

                                                     STABLE GROW TH                                 OBLIGOR IS W ELL KNOW N IN

    3:                                                                                              DOMESTIC/REGIONAL MARKETS.

    MODEST                                           EXTERNAL FACTORS HAVE MODERATE INFLUENCE       MEANINGFUL MARKET SHARE IN

    RISK             A+ to BBB+    EDF High 0.27                                                    INDUSTRY. PERFORMANCE RATIOS

                                   EDF Mean 0.06     MODEST CYCLICALITY                             GENERALLY BETTER THAN PEERS.

                                   EDF Low 0.03
                                                     REGULATORY CLIMATE IS SUPPORTIVE


                                                     LONG PRODUCT LIFE CYCLE

                                                     NORMAL ECONOMIC CYCLES                         TENDS TO BE PRICE FOLLOW ER.

    4:                                                                                              AVERAGE MARKET SHARE.

                                                     AVERAGE SENSITIVITY TO DOW NTURNS              PERFORMANCE RATIOS W ILL BE

    AVERAGE                        EDF High 0.87                                                    AROUND PEER GROUP AVERAGE.

    RISK             BBB+ to BBB   EDF Mean 0.16     MODERATE DEPENDENCE ON VOLATILE EXTERNAL FACTORS

                                   EDF Low 0.08
                                                     REGULATORY CLIMATE TENDS TO SUPPORT INDUSTRY   RANKS IN SECOND TIER OF INDUSTRY


                                                     AVERAGE PRODUCT LIFE CYCLE

                                                                                                    BELOW AVERAGE MARKET SHARE.

    5:                                               ABOVE AVERAGE CYCLICALLY                       PERFORMANCE RATIOS BELOW

    ABOVE                                                                                           PEER GROUP AVERAGES.

    AVERAGE                        EDF High 1.62     FLAT GROW TH

    RISK             BBB to BBB-   EDF Mean 0.25
                                   EDF Low 0.24      LIMITED NEW INVESTMENT IN INDUSTRY

                                                                                                    RANKS IN SECOND TIER

                                                     SENSITIVITY TO DOW NTURNS                      OF INDUSTRY
DATA NOT VERIFIED!




    6:                                              W IDE SW INGS IN CYCLICALITY                   MARKET SHARE AND PERFORMANCE

    HIGH RISK                      EDF High 2.65                                                   RATIOS ARE W ELL BELOW

                                   EDF Mean 0.52    BOOM OR BUST RESPONSES TO ECONOMIC DOW NTURNS INDUSTRY AVERAGES AND TRENDS

                     BBB- to BB-   EDF Low 0.24                                                    ARE MOVING IN A NEGATIVE

                                                    REGULATORY CLIMATE TENDS TO BE NEGATIVE        DIRECTION.




                                                    SHORT PRODUCT LIFE CYCLE                       RANKS IN THIRD TIER OF INDUSTRY



                                                                                                   MARKET SHARE AND PERFORMANCE

    7:                                              PROBLEMATIC INDUSTRY                           RATIOS ARE W ELL BELOW INDUSTRY
    MANAGEMENT           B         EDF High 5.44                                                   AVERAGES AND/OR TRENDS ARE

    ATTENTION                      EDF Mean 1.89    CYCLES ARE EXTREME AND RELATIVELY LONG         MOVING IN A NEGATIVE DIRECTION.
                                   EDF Low 0.64
                                                    ECONOMIC OUTLOOK TENDS TO BE NEGATIVE

                                                                                                   RANKS IN THIRD TIER OF INDUSTRY



                                                    VERY SHORT PRODUCT LIFE CYCLE




                                                                                                   MARKET SHARE AND PERFORMANCE

    8:                                                                                             RATIOS ARE POOR AGAINST INDUSTRY
                                                    INDUSTRY IN SEVERE CONTRACTION BUT SOME INHERENT
    SPECIAL                                         VALUE                                          STANDARDS AND/OR TRENDS ARE

    MENTION              C         EDF High 19.06                                                  CLEARLY ON A FATAL COURSE.

    OR                             EDF Mean 2.89    POOR REGULATORY CLIMATE

    SUB-                           EDF Low 2.85
    STANDARD                                                                                       RANKS IN FOURTH TIER OF INDUSTRY


                                                                                                   RANKS IN FOURTH TIER OF INDUSTRY

    9:                                              SEVERE CONTRACTION

    DOUBTFUL             D                                                                         UNACCEPTABLE RISKS

                                   EDF High         NO INHERENT VALUE

                                   >19.06

                                                    ONEROUS INCESSANT INDUSTRY PROBLEMS            RANKS IN FOURTH TIER OF INDUSTRY

    10:                                             EXIST W HICH HAVE A PERMANENT EFFECT ON

    LOSS                 D         EDF High         VIRTUALLY ALL PARTICIPANTS.                    UNACCEPTABLE RISKS

                                   >19.06



    CATEGORY RISK GRADE (WORKSHEET)                                      6.00                                        5.00
    CUMULATIVE RISK GRADE   3.71                                         3.71                                        4.00
    ACCEPT/OVERRIDE
    RISK CATEGORY                                                     INDUSTRY                                  POSITION W ITHIN

                                                                      SEGMENT                                      INDUSTRY
DATA NOT VERIFIED!


    Factors to Consider Regarding Industry
           1       Cyclicality
           2       Seasonality
           3       Regulatory Issues
           4       Environmental Issues
           5       Product Liability
           6       Barriers to Entry
           7       Technical Obsolence
           8       Commodity vs. Value Added
           9       Manufacture vs. Service
          10       Domestic Reliance vs. International Sales Diversification
          11       Government Contract Related Issues
          12       Industry Life Cycle




    Federal Reserve Audit Guidelines: Industry
    Stages of Industry Analysis: Level 1--Identify Loans by Industry
    - Attach an SIC Code to every loan
    - Define industry groups
    - Assign a credit risk rating to every loan
    - Distinguish between credit rating for borrower versus credit rating for a loan transaction

    Stages of Industry Analysis: Level 2--Analyze Industry Fundamentals
    - Prepare industry studies for loan officers; for credit committees
    - Evaluate credit risk exposure in relation to industry
    - Identify borrowers, by industry
    - Analyze individual bank credits, by industry
    - Perform comparative analysis of industries:
    - Analyze financial ratios
    - Compare operating characteristics
    - Understand financial and operating risks
    - Establish industry credit standards (loan structure, collateral coverage, documentation requirements)
DATA NOT VERIFIED!




    - Achieve functional independence but avoid isolation:
    - Remove responsibility for industry studies and analysis from the loan officers
    - Organize industry analysis under chief economist or senior credit officer but preserve intelligence
                      lines with lending personnel

    Stages of Industry Analysis: Level 3--Report Industry Concentrations
    - Aggregate industry concentrations:
    - Use weighted average or percentiles of credit ratings aggregated by industry
    - Analyze risk of portfolio by industry
    - Establish an Industry Credit Policy Committee:
    - Review industry studies
    - Analyze concentrations in relation to capital or loans
    - Set loan limits
    - Use for strategic planning purposes
    - Identify growth industries and problem industries

    Stages of Industry Analysis: Level 4--Ouantify Industry Risk
    - Develop industry risk ratings for industry analysis
    - Use an external model from an outside vendor
    - Develop an internal model
    - Use economic or industry data
    - Use financial or bond market data as indicators of industry risk
    - Compare industry risk ratings with the weighted average credit rating of the bank's exposure by industry
    - Run scenarios (commodity price changes, interest rate changes) to determine sensitivity of loan
                        portfolio to outside shocks
    - Determine covariances of industries or interrelationships among industries

    Stages of Industry Analysis: Level 5--Incorporate Industry Analysis Into the Loan Portfolio
    - Diversify the loan portfolio to reduce industry risk and industry concentrations
    - Distinguish between decision to originate loan and the decision to retain it for the portfolio
    - Use loan sales to reduce concentrations in the portfolio
    - Sell loans to organized secondary markets
    - Use industry risk systems:
    - To influence loan pricing
    - To develop risk adjusted rates of return measures
    - To assign capital or loan loss reserves
    - Conceptualize the loan portfolio like a securities portfolio
DATA NOT VERIFIED!


                     Cumulative OFM & FinDev Before Industry      3.71           1     2     3     4     5     6   7     8     9


                     Industry Grade Transfer                                    N/A    N/A   N/A   N/A   N/A   6   N/A   N/A   N/A
                     Cumulative Grade Before Considering Obligor's Tier Position N/A   N/A   N/A   N/A   N/A 3.71 N/A    N/A   N/A
                     Industry Grade Selected From Worksheet        6
                     Industry Position Grade                       5
                     Matrix Industry And Tier Grade                             N/A    N/A   N/A   N/A   N/A 4.00 5.00 7.00 8.00
                                                                                N/A    N/A   N/A   N/A   N/A 4.00 N/A N/A N/A
                     Computer Generated Cumulative Grade          4.00
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!
 DATA NOT VERIFIED!


  10


 N/A
 N/A



9.00
  N/A
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!




        ROBFEL Bank                           Industry/Position
        Credit Risk Grading System                 Grid

                                  Expected                        Industry Grade
        BORROWER                    Bond
        RATING                     Rating      1    2    3    4       5        6   7   8   9   10
        1: First Tier

        SUBSTANTIALLY RISK FREE   AAA To A-          NO EFFECT                     5   5   5   7
        2: First Tier
DATA NOT VERIFIED!


        MINIMUM RISK                  AA To A-                                              5     6    6    7
        3: Second Tier                                            ON
        MODEST RISK                  A+ To BBB+                                             5     6    6    8
        4: Second Tier

        AVERAGE RISK                BBB+ To BBB    CUMULATIVE CREDIT GRADE                  5     7    7    8
        5: Second Tier

        ABOVE AVERAGE RISK          BBB+ To BBB-                                      4     5     7    8    9
        6: Third Tier

        MANAGEMENT ATTENTION RISK    BBB- To BB-     4     4      4     5    5        6     7     8    9    10
        7:Third Tier

        SPECIAL MENTION                   B          5     5      5     7    7        7     8     9    9    10
        8:Fourth Tier

        SUBSTANDARD                       C          6     6      7     7    7        9    10     10   10   10
        9: Fourth Tier

        DOUBTFUL                          D          7     7      8     8    8        9    10     10   10   10
        10: Fourth Tier
        LOSS                              D          8     8      9     9    9       10    10     10   10   10




        Federal Reserve Audit Guidelines: Transfer (Country Risk)

        Substandard
        - A country is not complying with its external service obligations, as evidenced by arrears
        - The country is not in the process of adopting other suitable economic adjustment program
         The country and its bank creditors have not negotiated a viable rescheduling and are
          unlikely to do so in the near future.

        Value Impaired
        - The country has not met rescheduling terms for over one year
        - The country shows no definite prospects for an orderly restoration of debt service in
          the near future.

        Considerations
        - Establish country exposure limits for credits
        - Establish limits for distribution of loans by type and maturity
        - Concentrations of credit within countries
DATA NOT VERIFIED!




        - International loan portfolio management objectives and policies reviewed at least
          annually to determine if they are compatible with changing market condition
        - Measure significant changes in country conditions and/or levels of exposure
        - Country limits revised in response to substantive changes in economic, political and
          social conditions within particular countries
        - Country limits reviewed and updated at least annually
        - Prior to granting additional advances or commitments, outstandings checked to
          appropriate country limits
        - Lending officers cognizant of specific country limitations
        - Procedures for exceeding country limits clearly defined
        - Bank has a periodic foreign call program for countries
        - Internal review system which determines that international risk assets outstanding and
          committed are within the bank's foreign exposure limits
        - Country risk factors (economic, political and social)
        - A continuing review of current country data obtained from internal and external sources
        - An analysis of economic, political, social and other factors affecting country risk
        - Formal reporting system on country risk
        - Country risk evaluation system recognizes exposure from country to country on the
          basis of legally binding guarantees, collateral, or reallocation by office of responsibility
        - Reporting system provides exposure data quickly and in sufficient detail to assess
          particular risks
DATA NOT VERIFIED!                                          COUNTRYRISK



          Module 4
          OBLIGOR GRADES: Country Risk
          BORROWER       Exp ected      Expected                  COUNTRY RISK
          RATING          Bond           Default                    COUNTRY/TRANSFER

                          Ratin g     Factor in b.p.                            RISK

                                                       TOP INDUSTRIAL COUNTRY.

          1:                         EDF High 0.02

          SUBSTAN-                   EDF Mean 0.02
          TIALLY       AAA to AA-    EDF Low 0.02
          RISK
          FREE




                                                       MAJOR INDUSTRIAL COUNTRY.

          2:
          MINIMAL                                      TOP INVESTMENT RATING.

          RISK           AA to A-    EDF High 0.13
                                     EDF Mean 0.02
                                     EDF Low 0.02      ECONOMIC AND POLITICAL STABILITY IN

                                                       TOP QUARTILE
                                                       STRONG INVESTMENT RATING.




                                                       OUTLOOK FOR POLITICAL AND ECONOMIC

          3:                                           STABILITY ABOVE AVERAGE.
          MODEST
          RISK         A+ to BBB+    EDF High 0.27     DIVERSE NATURAL, HUMAN AND
                                     EDF Mean 0.06     FINANCIAL RESOURCES.
                                     EDF Low 0.03
                                                       INTEREST RATE VOLATILITY BELOW
                                                       AVERAGE IN TERMS OF LOCAL CURRENCY.


                                                       INFLATION UNDER CONTROL.

                                                       OUTLOOK FOR POLITICAL AND ECONOMIC
          4:                                           STABILITY ABOVE AVERAGE.


          AVERAGE                  EDF High 0.87       AVERAGE NATURAL, HUMAN AND
          RISK         BBB+ to BBB EDF Mean 0.16       FINANCIAL RESOURCES.
                                   EDF Low 0.08
                                                       INTEREST RATE VOLATILITY IN
                                                       TERMS OF LOCAL CURRENCY.



                                                       INFLATION UNDER CONTROL.

                                                       OUTLOOK FOR POLITICAL AND ECONOMIC
          5:                                           STABILITY MAY BE BELOW AVERAGE.
          ABOVE                                        BUT ACCEPTABLE.
          AVERAGE                    EDF High 1.62     BELOW AVERAGE NATURAL, HUMAN
          RISK         BBB to BBB-   EDF Mean 0.25     FINANCIAL RESOURCES.

                                     EDF Low 0.24
                                                       INTEREST RATE VOLATILITY HIGH
                                                       IN TERMS OF LOCAL CURRENCY.

                                                       INFLATION DIFFICULT TO CONTROL.
                                                       OUTLOOK FOR POLITICAL AND ECONOMIC
          6:                                           STABILITY IS QUESTIONABLE
          HIGH RISK                  EDF High 2.65
                                     EDF Mean 0.52     BELOW AVERAGE NATURAL, HUMAN
                       BBB- to BB-   EDF Low 0.24      FINANCIAL RESOURCES.


                                                       INTEREST RATE VOLATILITY HIGH
                                                       IN TERMS OF LOCAL CURRENCY.

                                                       INFLATION DIFFICULT TO CONTROL.


                                                       OUTLOOK FOR POLITICAL AND ECONOMIC
          7:                                           STABILITY IS DOUBTFUL
          MANAGEMENT        B        EDF High 5.44
          ATTENTION                  EDF Mean 1.89     W EAK NATURAL, HUMAN AND
                                     EDF Low 0.64      FINANCIAL RESOURCES.


                                                       INTEREST RATE VOLATILITY HIGH
                                                       IN TERMS OF LOCAL CURRENCY.
                                                       INFLATION AND BALANCE OF PAYAMENTS

                                                       MAY BE OUT OF CONTROL.



          8:                                           UNACCEPTABLE RISKS
          SPECIAL
          MENTION           C        EDF High 19.06
                                                                Page 39
DATA NOT VERIFIED!                                          COUNTRYRISK



          Module 4
          OBLIGOR GRADES: Country Risk
          BORROWER        Exp ected      Expected                 COUNTRY RISK
          RATING           Bond           Default                   COUNTRY/TRANSFER

                           Ratin g     Factor in b.p.                        RISK
          OR                          EDF Mean 2.89
          SUB-                        EDF Low 2.85
          STANDARD




          9:
          DOUBTFUL           D                          UNACCEPTABLE RISKS

                                      EDF High
                                      >19.06




          10:
          LOSS               D        EDF High          UNACCEPTABLE RISKS
                                      >19.06




          CATEGORY RISK GRADE (WORKSHEET)                                     1
          CUMULATIVE RISK GRADE             4.00                             4.00
          ACCEPT/OVERRIDE
          RISK CATEGORY                                             COUNTRY/TRANSFER

                                                                             RISK




        • Federal Reserve Audit Guidelines: Industry
          Stages of Industry Analysis: Level 1--Identify Loans by Industry
                                                                Page 40
DATA NOT VERIFIED!                                             COUNTRYRISK




          Module 4
          OBLIGOR GRADES: Country Risk
          BORROWER          Exp ected       Expected               COUNTRY RISK
          RATING              Bond           Default                COUNTRY/TRANSFER

                             Ratin g      Factor in b.p.                     RISK

          -   Attach an SIC Code to every loan
          -   Define industry groups
          -   Assign a credit risk rating to every loan
          -   Distinguish between credit rating for borrower versus credit rating for a loan transaction

          Stages of Industry Analysis: Level 2--Analyze Industry Fundamentals
          - Prepare industry studies for loan officers; for credit committees
          - Evaluate credit risk exposure in relation to industry
          - Identify borrowers, by industry
          - Analyze individual bank credits, by industry
          - Perform comparative analysis of industries:
          - Analyze financial ratios
          - Compare operating characteristics
          - Understand financial and operating risks
          - Establish industry credit standards (loan structure, collateral coverage, documentation requirements)
          - Achieve functional independence but avoid isolation:
          - Remove responsibility for industry studies and analysis from the loan officers
          - Organize industry analysis under chief economist or senior credit officer but preserve intelligence
                       lines with lending personnel

          Stages of Industry Analysis: Level 3--Report Industry Concentrations
          - Aggregate industry concentrations:
          - Use weighted average or percentiles of credit ratings aggregated by industry
          - Analyze risk of portfolio by industry
          - Establish an Industry Credit Policy Committee:
          - Review industry studies
          - Analyze concentrations in relation to capital or loans
          - Set loan limits
          - Use for strategic planning purposes
          - Identify growth industries and problem industries

          Stages of Industry Analysis: Level 4--Ouantify Industry Risk
          - Develop industry risk ratings for industry analysis
          - Use an external model from an outside vendor
          - Develop an internal model
          - Use economic or industry data
          - Use financial or bond market data as indicators of industry risk
          - Compare industry risk ratings with the weighted average credit rating of the bank's exposure by industry
          - Run scenarios (commodity price changes, interest rate changes) to determine sensitivity of loan
                      portfolio to outside shocks
          - Determine covariances of industries or interrelationships among industries

          Stages of Industry Analysis: Level 5--Incorporate Industry Analysis Into the Loan Portfolio
          - Diversify the loan portfolio to reduce industry risk and industry concentrations
          - Distinguish between decision to originate loan and the decision to retain it for the portfolio
          - Use loan sales to reduce concentrations in the portfolio
          - Sell loans to organized secondary markets
          - Use industry risk systems:
          - To influence loan pricing
          - To develop risk adjusted rates of return measures
          - To assign capital or loan loss reserves
          - Conceptualize the loan portfolio like a securities portfolio


                                                                 Page 41
DATA NOT VERIFIED!                                   COUNTRYRISK



     Module 4
      OBLIGOR GRADES: Country Risk
     BORROWER          Exp ected      Expected

     RATING             Bond           Default

                        Ratin g     Factor in b.p.


      1:                           EDF High 0.02

     SUBSTAN-                      EDF Mean 0.02
     TIALLY          AAA to AA-    EDF Low 0.02
     RISK
     FREE




      2:
     MINIMAL
     RISK              AA to A-    EDF High 0.13
                                   EDF Mean 0.02
                                   EDF Low 0.02




      3:
     MODEST
     RISK            A+ to BBB+    EDF High 0.27
                                   EDF Mean 0.06
                                   EDF Low 0.03




      4:

     AVERAGE                     EDF High 0.87
     RISK            BBB+ to BBB EDF Mean 0.16
                                 EDF Low 0.08




      5:
     ABOVE
     AVERAGE                       EDF High 1.62
     RISK            BBB to BBB-   EDF Mean 0.25
                                   EDF Low 0.24




      6:
     HIGH RISK                     EDF High 2.65
                                   EDF Mean 0.52
                     BBB- to BB-   EDF Low 0.24




      7:
     MANAGEMENT           B        EDF High 5.44
     ATTENTION                     EDF Mean 1.89
                                   EDF Low 0.64




      8:
     SPECIAL
     MENTION              C        EDF High 19.06
                                                       Page 42
DATA NOT VERIFIED!                                        COUNTRYRISK



     Module 4
      OBLIGOR GRADES: Country Risk
     BORROWER        Exp ected      Expected

     RATING           Bond            Default

                      Ratin g     Factor in b.p.
     OR                          EDF Mean 2.89
     SUB-                        EDF Low 2.85
     STANDARD




      9:
     DOUBTFUL           D
                                 EDF High
                                 >19.06




      10:
     LOSS               D        EDF High
                                 >19.06




      CATEGORY RISK GRADE (WORKSHEET)
      CUMULATIVE RISK GRADE            4.00
      ACCEPT/OVERRIDE
      RISK CATEGORY




   • Federal Reserve Audit Guidelines: Industry
     Stages of Industry Analysis: Level 1--Identify Loans by Industry
                                                             Page 43
DATA NOT VERIFIED!                                            COUNTRYRISK




     Module 4
      OBLIGOR GRADES: Country Risk
     BORROWER           Exp ected       Expected

     RATING               Bond           Default

                         Ratin g      Factor in b.p.
      -   Attach an SIC Code to every loan
      -   Define industry groups
      -   Assign a credit risk rating to every loan
      -   Distinguish between credit rating for borrower versus credit rating for a loan transaction

      Stages of Industry Analysis: Level 2--Analyze Industry Fundamentals
      - Prepare industry studies for loan officers; for credit committees
      - Evaluate credit risk exposure in relation to industry
      - Identify borrowers, by industry
      - Analyze individual bank credits, by industry
      - Perform comparative analysis of industries:
      - Analyze financial ratios
      - Compare operating characteristics
      - Understand financial and operating risks
      - Establish industry credit standards (loan structure, collateral coverage, documentation requirements)
      - Achieve functional independence but avoid isolation:
      - Remove responsibility for industry studies and analysis from the loan officers
      - Organize industry analysis under chief economist or senior credit officer but preserve intelligence
                   lines with lending personnel

      Stages of Industry Analysis: Level 3--Report Industry Concentrations
      - Aggregate industry concentrations:
      - Use weighted average or percentiles of credit ratings aggregated by industry
      - Analyze risk of portfolio by industry
      - Establish an Industry Credit Policy Committee:
      - Review industry studies
      - Analyze concentrations in relation to capital or loans
      - Set loan limits
      - Use for strategic planning purposes
      - Identify growth industries and problem industries

      Stages of Industry Analysis: Level 4--Ouantify Industry Risk
      - Develop industry risk ratings for industry analysis
      - Use an external model from an outside vendor
      - Develop an internal model
      - Use economic or industry data
      - Use financial or bond market data as indicators of industry risk
      - Compare industry risk ratings with the weighted average credit rating of the bank's exposure by industry
      - Run scenarios (commodity price changes, interest rate changes) to determine sensitivity of loan
                  portfolio to outside shocks
      - Determine covariances of industries or interrelationships among industries

      Stages of Industry Analysis: Level 5--Incorporate Industry Analysis Into the Loan Portfolio
      - Diversify the loan portfolio to reduce industry risk and industry concentrations
      - Distinguish between decision to originate loan and the decision to retain it for the portfolio
      - Use loan sales to reduce concentrations in the portfolio
      - Sell loans to organized secondary markets
      - Use industry risk systems:
      - To influence loan pricing
      - To develop risk adjusted rates of return measures
      - To assign capital or loan loss reserves
      - Conceptualize the loan portfolio like a securities portfolio


                                                                 Page 44
     DATA NOT VERIFIED!                                 COUNTRYRISK



Module 4
OBLIGOR GRADES: Country Risk
BORROWER                  Exp ected      Expected

RATING                     Bond           Default

                           Ratin g     Factor in b.p.


1:                                    EDF High 0.02

SUBSTAN-                              EDF Mean 0.02
TIALLY               AAA to AA-       EDF Low 0.02
RISK
FREE




2:
MINIMAL
RISK                      AA to A-    EDF High 0.13
                                      EDF Mean 0.02
                                      EDF Low 0.02




3:
MODEST
RISK                A+ to BBB+        EDF High 0.27
                                      EDF Mean 0.06
                                      EDF Low 0.03




4:

AVERAGE                        EDF High 0.87
RISK               BBB+ to BBB EDF Mean 0.16
                               EDF Low 0.08




5:
ABOVE
AVERAGE                               EDF High 1.62
RISK                BBB to BBB-       EDF Mean 0.25
                                      EDF Low 0.24




6:
HIGH RISK                             EDF High 2.65
                                      EDF Mean 0.52
                    BBB- to BB-       EDF Low 0.24




7:
MANAGEMENT                   B        EDF High 5.44
ATTENTION                             EDF Mean 1.89
                                      EDF Low 0.64




8:
SPECIAL
MENTION                      C        EDF High 19.06
                                                          Page 45
       DATA NOT VERIFIED!                                     COUNTRYRISK



 Module 4
 OBLIGOR GRADES: Country Risk
 BORROWER                   Exp ected      Expected

 RATING                      Bond           Default

                             Ratin g     Factor in b.p.
 OR                                     EDF Mean 2.89
 SUB-                                   EDF Low 2.85
 STANDARD




 9:
 DOUBTFUL                      D
                                        EDF High
                                        >19.06




 10:
 LOSS                          D        EDF High
                                        >19.06




 CATEGORY RISK GRADE (WORKSHEET)
 CUMULATIVE RISK GRADE                       4.00
 ACCEPT/OVERRIDE
 RISK CATEGORY




• Federal Reserve Audit Guidelines: Industry
  Stages of Industry Analysis: Level 1--Identify Loans by Industry
                                                                 Page 46
    DATA NOT VERIFIED!                                          COUNTRYRISK




Module 4
OBLIGOR GRADES: Country Risk
BORROWER                 Exp ected     Expected

RATING                    Bond          Default

                          Ratin g    Factor in b.p.
-   Attach an SIC Code to every loan
-   Define industry groups
-   Assign a credit risk rating to every loan
-   Distinguish between credit rating for borrower versus credit rating for a loan transaction

Stages of Industry Analysis: Level 2--Analyze Industry Fundamentals
- Prepare industry studies for loan officers; for credit committees
- Evaluate credit risk exposure in relation to industry
- Identify borrowers, by industry
- Analyze individual bank credits, by industry
- Perform comparative analysis of industries:
- Analyze financial ratios
- Compare operating characteristics
- Understand financial and operating risks
- Establish industry credit standards (loan structure, collateral coverage, documentation requirements)
- Achieve functional independence but avoid isolation:
- Remove responsibility for industry studies and analysis from the loan officers
- Organize industry analysis under chief economist or senior credit officer but preserve intelligence
             lines with lending personnel

Stages of Industry Analysis: Level 3--Report Industry Concentrations
- Aggregate industry concentrations:
- Use weighted average or percentiles of credit ratings aggregated by industry
- Analyze risk of portfolio by industry
- Establish an Industry Credit Policy Committee:
- Review industry studies
- Analyze concentrations in relation to capital or loans
- Set loan limits
- Use for strategic planning purposes
- Identify growth industries and problem industries

Stages of Industry Analysis: Level 4--Ouantify Industry Risk
- Develop industry risk ratings for industry analysis
- Use an external model from an outside vendor
- Develop an internal model
- Use economic or industry data
- Use financial or bond market data as indicators of industry risk
- Compare industry risk ratings with the weighted average credit rating of the bank's exposure by industry
- Run scenarios (commodity price changes, interest rate changes) to determine sensitivity of loan
            portfolio to outside shocks
- Determine covariances of industries or interrelationships among industries

Stages of Industry Analysis: Level 5--Incorporate Industry Analysis Into the Loan Portfolio
- Diversify the loan portfolio to reduce industry risk and industry concentrations
- Distinguish between decision to originate loan and the decision to retain it for the portfolio
- Use loan sales to reduce concentrations in the portfolio
- Sell loans to organized secondary markets
- Use industry risk systems:
- To influence loan pricing
- To develop risk adjusted rates of return measures
- To assign capital or loan loss reserves
- Conceptualize the loan portfolio like a securities portfolio


                                                                  Page 47
     DATA NOT VERIFIED!                               COUNTRYRISK



Module 4
OBLIGOR GRADES: Country Risk
BORROWER              Exp ected        Expected

RATING                    Bond          Default

                          Ratin g    Factor in b.p.


1:                                  EDF High 0.02

SUBSTAN-                            EDF Mean 0.02
TIALLY               AAA to AA-     EDF Low 0.02
RISK
FREE




2:
MINIMAL
RISK                  AA to A-      EDF High 0.13
                                    EDF Mean 0.02
                                    EDF Low 0.02




3:
MODEST
RISK                A+ to BBB+      EDF High 0.27
                                    EDF Mean 0.06
                                    EDF Low 0.03




4:

AVERAGE                        EDF High 0.87
RISK               BBB+ to BBB EDF Mean 0.16
                               EDF Low 0.08




5:
ABOVE
AVERAGE                             EDF High 1.62
RISK               BBB to BBB-      EDF Mean 0.25
                                    EDF Low 0.24




6:
HIGH RISK                           EDF High 2.65
                                    EDF Mean 0.52
                    BBB- to BB-     EDF Low 0.24




7:
MANAGEMENT                  B       EDF High 5.44
ATTENTION                           EDF Mean 1.89
                                    EDF Low 0.64




8:
SPECIAL
MENTION                     C       EDF High 19.06
                                                        Page 48
       DATA NOT VERIFIED!                                      COUNTRYRISK



 Module 4
 OBLIGOR GRADES: Country Risk
 BORROWER               Exp ected        Expected

 RATING                     Bond          Default

                            Ratin g    Factor in b.p.
 OR                                   EDF Mean 2.89
 SUB-                                 EDF Low 2.85
 STANDARD




 9:
 DOUBTFUL                     D
                                      EDF High
                                      >19.06




 10:
 LOSS                         D       EDF High
                                      >19.06




 CATEGORY RISK GRADE (WORKSHEET)
 CUMULATIVE RISK GRADE                     4.00
 ACCEPT/OVERRIDE
 RISK CATEGORY




• Federal Reserve Audit Guidelines: Industry
  Stages of Industry Analysis: Level 1--Identify Loans by Industry
                                                                 Page 49
    DATA NOT VERIFIED!                                          COUNTRYRISK




Module 4
OBLIGOR GRADES: Country Risk
BORROWER             Exp ected       Expected

RATING                   Bond         Default

                         Ratin g   Factor in b.p.
-   Attach an SIC Code to every loan
-   Define industry groups
-   Assign a credit risk rating to every loan
-   Distinguish between credit rating for borrower versus credit rating for a loan transaction

Stages of Industry Analysis: Level 2--Analyze Industry Fundamentals
- Prepare industry studies for loan officers; for credit committees
- Evaluate credit risk exposure in relation to industry
- Identify borrowers, by industry
- Analyze individual bank credits, by industry
- Perform comparative analysis of industries:
- Analyze financial ratios
- Compare operating characteristics
- Understand financial and operating risks
- Establish industry credit standards (loan structure, collateral coverage, documentation requirements)
- Achieve functional independence but avoid isolation:
- Remove responsibility for industry studies and analysis from the loan officers
- Organize industry analysis under chief economist or senior credit officer but preserve intelligence
             lines with lending personnel

Stages of Industry Analysis: Level 3--Report Industry Concentrations
- Aggregate industry concentrations:
- Use weighted average or percentiles of credit ratings aggregated by industry
- Analyze risk of portfolio by industry
- Establish an Industry Credit Policy Committee:
- Review industry studies
- Analyze concentrations in relation to capital or loans
- Set loan limits
- Use for strategic planning purposes
- Identify growth industries and problem industries

Stages of Industry Analysis: Level 4--Ouantify Industry Risk
- Develop industry risk ratings for industry analysis
- Use an external model from an outside vendor
- Develop an internal model
- Use economic or industry data
- Use financial or bond market data as indicators of industry risk
- Compare industry risk ratings with the weighted average credit rating of the bank's exposure by industry
- Run scenarios (commodity price changes, interest rate changes) to determine sensitivity of loan
            portfolio to outside shocks
- Determine covariances of industries or interrelationships among industries

Stages of Industry Analysis: Level 5--Incorporate Industry Analysis Into the Loan Portfolio
- Diversify the loan portfolio to reduce industry risk and industry concentrations
- Distinguish between decision to originate loan and the decision to retain it for the portfolio
- Use loan sales to reduce concentrations in the portfolio
- Sell loans to organized secondary markets
- Use industry risk systems:
- To influence loan pricing
- To develop risk adjusted rates of return measures
- To assign capital or loan loss reserves
- Conceptualize the loan portfolio like a securities portfolio


                                                                  Page 50
DATA NOT VERIFIED!                                   COUNTRYRISK



Module 4
OBLIGOR GRADES: Country Risk
BORROWER              Exp ected       Expected

RATING                  Bond           Default

                       Ratin g      Factor in b.p.


1:                                 EDF High 0.02

SUBSTAN-                           EDF Mean 0.02
TIALLY               AAA to AA-    EDF Low 0.02
RISK
FREE




2:
MINIMAL
RISK                  AA to A-     EDF High 0.13
                                   EDF Mean 0.02
                                   EDF Low 0.02




3:
MODEST
RISK                 A+ to BBB+    EDF High 0.27
                                   EDF Mean 0.06
                                   EDF Low 0.03




4:

AVERAGE                      EDF High 0.87
RISK             BBB+ to BBB EDF Mean 0.16
                             EDF Low 0.08




5:
ABOVE
AVERAGE                            EDF High 1.62
RISK             BBB to BBB-       EDF Mean 0.25
                                   EDF Low 0.24




6:
HIGH RISK                          EDF High 2.65
                                   EDF Mean 0.52
                     BBB- to BB-   EDF Low 0.24




7:
MANAGEMENT               B         EDF High 5.44
ATTENTION                          EDF Mean 1.89
                                   EDF Low 0.64




8:
SPECIAL
MENTION                  C         EDF High 19.06
                                                       Page 51
 DATA NOT VERIFIED!                                         COUNTRYRISK



 Module 4
 OBLIGOR GRADES: Country Risk
 BORROWER             Exp ected      Expected

 RATING                Bond           Default

                       Ratin g     Factor in b.p.
 OR                               EDF Mean 2.89
 SUB-                             EDF Low 2.85
 STANDARD




 9:
 DOUBTFUL                D
                                  EDF High
                                  >19.06




 10:
 LOSS                    D        EDF High
                                  >19.06




 CATEGORY RISK GRADE (WORKSHEET)
 CUMULATIVE RISK GRADE                 4.00
 ACCEPT/OVERRIDE
 RISK CATEGORY




• Federal Reserve Audit Guidelines: Industry
  Stages of Industry Analysis: Level 1--Identify Loans by Industry
                                                               Page 52
DATA NOT VERIFIED!                                           COUNTRYRISK




Module 4
OBLIGOR GRADES: Country Risk
BORROWER             Exp ected     Expected

RATING                Bond          Default

                      Ratin g    Factor in b.p.
-   Attach an SIC Code to every loan
-   Define industry groups
-   Assign a credit risk rating to every loan
-   Distinguish between credit rating for borrower versus credit rating for a loan transaction

Stages of Industry Analysis: Level 2--Analyze Industry Fundamentals
- Prepare industry studies for loan officers; for credit committees
- Evaluate credit risk exposure in relation to industry
- Identify borrowers, by industry
- Analyze individual bank credits, by industry
- Perform comparative analysis of industries:
- Analyze financial ratios
- Compare operating characteristics
- Understand financial and operating risks
- Establish industry credit standards (loan structure, collateral coverage, documentation requirements)
- Achieve functional independence but avoid isolation:
- Remove responsibility for industry studies and analysis from the loan officers
- Organize industry analysis under chief economist or senior credit officer but preserve intelligence
             lines with lending personnel

Stages of Industry Analysis: Level 3--Report Industry Concentrations
- Aggregate industry concentrations:
- Use weighted average or percentiles of credit ratings aggregated by industry
- Analyze risk of portfolio by industry
- Establish an Industry Credit Policy Committee:
- Review industry studies
- Analyze concentrations in relation to capital or loans
- Set loan limits
- Use for strategic planning purposes
- Identify growth industries and problem industries

Stages of Industry Analysis: Level 4--Ouantify Industry Risk
- Develop industry risk ratings for industry analysis
- Use an external model from an outside vendor
- Develop an internal model
- Use economic or industry data
- Use financial or bond market data as indicators of industry risk
- Compare industry risk ratings with the weighted average credit rating of the bank's exposure by industry
- Run scenarios (commodity price changes, interest rate changes) to determine sensitivity of loan
            portfolio to outside shocks
- Determine covariances of industries or interrelationships among industries

Stages of Industry Analysis: Level 5--Incorporate Industry Analysis Into the Loan Portfolio
- Diversify the loan portfolio to reduce industry risk and industry concentrations
- Distinguish between decision to originate loan and the decision to retain it for the portfolio
- Use loan sales to reduce concentrations in the portfolio
- Sell loans to organized secondary markets
- Use industry risk systems:
- To influence loan pricing
- To develop risk adjusted rates of return measures
- To assign capital or loan loss reserves
- Conceptualize the loan portfolio like a securities portfolio


                                                                Page 53
          DATA NOT VERIFIED!                         COUNTRYRISK



Module 4
OBLIGOR GRADES: Country Risk
BORROWER               Exp ected      Expected

RATING                    Bond         Default

                         Ratin g    Factor in b.p.


1:                                 EDF High 0.02

SUBSTAN-                           EDF Mean 0.02
TIALLY               AAA to AA-    EDF Low 0.02
RISK
FREE




2:
MINIMAL
RISK                   AA to A-    EDF High 0.13
                                   EDF Mean 0.02
                                   EDF Low 0.02




3:
MODEST
RISK                 A+ to BBB+    EDF High 0.27
                                   EDF Mean 0.06
                                   EDF Low 0.03




4:

AVERAGE                         EDF High 0.87
RISK                BBB+ to BBB EDF Mean 0.16
                                EDF Low 0.08




5:
ABOVE
AVERAGE                            EDF High 1.62
RISK                BBB to BBB-    EDF Mean 0.25
                                   EDF Low 0.24




6:
HIGH RISK                          EDF High 2.65
                                   EDF Mean 0.52
                     BBB- to BB-   EDF Low 0.24




7:
MANAGEMENT                     B   EDF High 5.44
ATTENTION                          EDF Mean 1.89
                                   EDF Low 0.64




8:
SPECIAL
MENTION                        C   EDF High 19.06
                                                       Page 54
        DATA NOT VERIFIED!                                              COUNTRYRISK



 Module 4
 OBLIGOR GRADES: Country Risk
 BORROWER            Exp ected      Expected

 RATING                 Bond         Default

                       Ratin g    Factor in b.p.
 OR                              EDF Mean 2.89
 SUB-                            EDF Low 2.85
 STANDARD




 9:
 DOUBTFUL                    D
                                 EDF High
                                 >19.06




 10:
 LOSS                        D   EDF High
                                 >19.06




 CATEGORY RISK GRADE (WORKSHEET)
 CUMULATIVE RISK GRADE                4.00
 ACCEPT/OVERRIDE                                   RobFel Bank                                                                      Industry/Position
 RISK CATEGORY                                     Credit Risk Grading System                                                            Grid

                                                                                        Exp ected     Expected                           Industry Grade
                                                   BORROWER                               Bond          Loss
                                                   RATING                                Ratin g    Factor in b.p.    1   2    3     4       5
                                                   1: First Tier

                                                   SUBSTANTIALLY RISK FREE             AAA To A-         2                 NO EFFECT
                                                   2: First Tier

                                                   MINIMUM RISK                         AA To A-         6
                                                   3: Second Tier                                                              ON
                                                   MODEST RISK                        A+ To BBB+         14
                                                   4: Second Tier

                                                   AVERAGE RISK                       BBB+ To BBB        40          CUMULATIVE CREDIT GRADE
                                                   5: Second Tier

                                                   ABOVE AVERAGE RISK                 BBB+ To BBB-       50
                                                   6: Third Tier

                                                   MANAGEMENT ATTENTION RISK          BBB- To BB-       100           4   4    4     5       5
                                                   7:Third Tier

                                                   SPECIAL MENTION                         B            190           5   5    5     7       7
                                                   8:Fourth Tier

                                                   SUBSTANDARD                             C            290           6   6    7     7       7
                                                   9: Fourth Tier

                                                   DOUBTFUL                                D            600           7   7    8     8       8
                                                   10: Fourth Tier
                                                   LOSS                                    D           1000           8   8    9     9       9




• Federal Reserve Audit Guidelines: Industry    Federal Reserve Audit Guidelines: Transfer (Country Risk)
  Stages of Industry Analysis: Level 1--Identify Loans by Industry
                                                                          Page 55
       DATA NOT VERIFIED!                                          COUNTRYRISK




Module 4
OBLIGOR GRADES: Country Risk
BORROWER            Exp ected     Expected

RATING                 Bond        Default

                      Ratin g   Factor in b.p.
-   Attach an SIC Code to every loan           Substandard
-   Define industry groups                     - A country is not complying with its external service obligations, as evidenced by arrears
-   Assign a credit risk rating to every loan  - The country is not in the process of adopting other suitable economic adjustment program
-                                               The country and its for a creditors have
    Distinguish between credit rating for borrower versus credit rating bankloan transaction not negotiated a viable rescheduling and are
                                                  unlikely to do so in the near future.
Stages of Industry Analysis: Level 2--Analyze Industry Fundamentals
                                               Value Impaired
- Prepare industry studies for loan officers; for credit committees
- Evaluate credit risk exposure in relation to - The country has not met rescheduling terms for over one year
                                               industry
- Identify borrowers, by industry              - The country shows no definite prospects for an orderly restoration of debt service in
- Analyze individual bank credits, by industry the near future.
- Perform comparative analysis of industries:
- Analyze financial ratios                     Considerations
- Compare operating characteristics            - Establish country exposure limits for credits
- Understand financial and operating risks - Establish limits for distribution of loans by type and maturity
                                               - Concentrations of credit within countries
- Establish industry credit standards (loan structure, collateral coverage, documentation requirements)
                                               - International loan portfolio management objectives and policies reviewed at least
- Achieve functional independence but avoid isolation:
                                                 annually to determine they are
- Remove responsibility for industry studies and analysis from the loanifofficers compatible with changing market condition
                                               - Measure significant changes in country conditions and/or levels of exposure
- Organize industry analysis under chief economist or senior credit officer but preserve intelligence
             lines with lending personnel      - Country limits revised in response to substantive changes in economic, political and
                                                  social conditions within particular countries
                                                Country limits reviewed and updated at least annually
Stages of Industry Analysis: Level 3--Report-Industry Concentrations
- Aggregate industry concentrations:          - Prior to granting additional advances or commitments, outstandings checked to
                                                appropriate country limits
- Use weighted average or percentiles of credit ratings aggregated by industry
- Analyze risk of portfolio by industry       - Lending officers cognizant of specific country limitations
                                              - Procedures for exceeding country limits clearly defined
- Establish an Industry Credit Policy Committee:
- Review industry studies                     - Bank has a periodic foreign call program for countries
                                              - Internal
- Analyze concentrations in relation to capital or loans review system which determines that international risk assets outstanding and
- Set loan limits                               committed are within the bank's foreign exposure limits
- Use for strategic planning purposes         - Country risk factors (economic, political and social)
                                              - A continuing review of current country data obtained from internal and external sources
- Identify growth industries and problem industries
                                                 - An analysis of economic, political, social and other factors affecting country risk
                                              - Formal reporting system on country risk
Stages of Industry Analysis: Level 4--Ouantify Industry Risk
                                              - Country risk evaluation system recognizes exposure from country to country on the
- Develop industry risk ratings for industry analysis
- Use an external model from an outside vendor  basis of legally binding guarantees, collateral, or reallocation by office of responsibility
- Develop an internal model                   - Reporting system provides exposure data quickly and in sufficient detail to assess
- Use economic or industry data                 particular risks
- Use financial or bond market data as indicators of industry risk
- Compare industry risk ratings with the weighted average credit rating of the bank's exposure by industry
- Run scenarios (commodity price changes, interest rate changes) to determine sensitivity of loan
            portfolio to outside shocks
- Determine covariances of industries or interrelationships among industries

Stages of Industry Analysis: Level 5--Incorporate Industry Analysis Into the Loan Portfolio
- Diversify the loan portfolio to reduce industry risk and industry concentrations
- Distinguish between decision to originate loan and the decision to retain it for the portfolio
- Use loan sales to reduce concentrations in the portfolio
- Sell loans to organized secondary markets
- Use industry risk systems:
- To influence loan pricing
- To develop risk adjusted rates of return measures
- To assign capital or loan loss reserves
- Conceptualize the loan portfolio like a securities portfolio


                                                                     Page 56
DATA NOT VERIFIED!                                     COUNTRYRISK



                     Module 4
                     OBLIGOR GRADES: Country Risk
                     BORROWER       Exp ected      Expected

                     RATING          Bond           Default

                                     Ratin g     Factor in b.p.


                     1:                         EDF High 0.02

                     SUBSTAN-                   EDF Mean 0.02
                     TIALLY       AAA to AA-    EDF Low 0.02
                     RISK
                     FREE




                     2:
                     MINIMAL
                     RISK           AA to A-    EDF High 0.13
                                                EDF Mean 0.02
                                                EDF Low 0.02




                     3:
                     MODEST
                     RISK         A+ to BBB+    EDF High 0.27
                                                EDF Mean 0.06
                                                EDF Low 0.03




                     4:

                     AVERAGE                  EDF High 0.87
                     RISK         BBB+ to BBB EDF Mean 0.16
                                              EDF Low 0.08




                     5:
                     ABOVE
                     AVERAGE                    EDF High 1.62
                     RISK         BBB to BBB-   EDF Mean 0.25
                                                EDF Low 0.24




                     6:
                     HIGH RISK                  EDF High 2.65
                                                EDF Mean 0.52
                                  BBB- to BB-   EDF Low 0.24




                     7:
                     MANAGEMENT        B        EDF High 5.44
                     ATTENTION                  EDF Mean 1.89
                                                EDF Low 0.64




                     8:
                     SPECIAL
                     MENTION           C        EDF High 19.06
                                                         Page 57
DATA NOT VERIFIED!                                         COUNTRYRISK



                      Module 4
                      OBLIGOR GRADES: Country Risk
                      BORROWER         Exp ected       Expected

                      RATING            Bond            Default

                                        Ratin g      Factor in b.p.
                      OR                            EDF Mean 2.89
                      SUB-                          EDF Low 2.85
                      STANDARD




                      9:
                      DOUBTFUL            D
                                                    EDF High
                                                    >19.06




                      10:
                      LOSS                D         EDF High
                                                    >19.06




                      CATEGORY RISK GRADE (WORKSHEET)
                      CUMULATIVE RISK GRADE              4.00
                      ACCEPT/OVERRIDE              Industry/Position
                      RISK CATEGORY

                                                         Industry Grade


                                                                         6    7    8      9    10

                                                                              5    5      5    7

                                                                              5    6      6    7

                                                                              5    6      6    8

                                                                              5    7      7    8

                                                                         4    5    7      8    9

                                                                         6    7    8      9    10

                                                                         7    8    9      9    10

                                                                         9    10   10     10   10

                                                                         9    10   10     10   10

                                                                         10   10   10     10   10




                     • Federal Reserve Audit Guidelines: Industry
                       Stages of Industry Analysis: Level 1--Identify Loans by Industry
                                                             Page 58
              DATA NOT VERIFIED!                                          COUNTRYRISK




                                     Module 4
                                     OBLIGOR GRADES: Country Risk
                                     BORROWER         Exp ected       Expected

                                     RATING            Bond            Default

                                                       Ratin g      Factor in b.p.
                                   - Attach an SIC Code to every loan
s not complying with its external service obligations, as evidenced by arrears
                                   - Define industry groups
y is not in the process of adopting- other suitable economic adjustment program
                                      Assign a credit risk rating to every loan
                                   - Distinguish between credit rating for borrower versus credit rating for a loan transaction

                                     Stages of Industry Analysis: Level 2--Analyze Industry Fundamentals
                                     - Prepare industry studies for loan officers; for credit committees
                                     - Evaluate credit risk exposure in relation to industry
                                     - Identify borrowers, by industry
                                     - Analyze individual bank credits, by industry
                                     - Perform comparative analysis of industries:
                                     - Analyze financial ratios
                                     - Compare operating characteristics
                                     - Understand financial and operating risks
                                     - Establish industry credit standards (loan structure, collateral coverage, documentation requirements)
                                     - Achieve functional independence but avoid isolation:
                                     - Remove responsibility for industry studies and analysis from the loan officers
                                     - Organize industry analysis under chief economist or senior credit officer but preserve intelligence
                                                  lines with lending personnel

                                  Stages of Industry Analysis: Level 3--Report Industry Concentrations
                                  - Aggregate industry concentrations:
                                  - Use weighted average or percentiles of credit ratings aggregated by industry
                                  - Analyze risk of portfolio by industry
                                  - Establish an Industry Credit Policy Committee:
                                  - Review industry studies
iew system which determines that international risk assets outstanding and or loans
                                  - Analyze concentrations in relation to capital
                                  - Set loan limits
                                  - Use for strategic planning purposes
                                  - Identify growth industries external sources
g review of current country data obtained from internal andand problem industries

                                  Stages of Industry Analysis: Level 4--Ouantify Industry Risk
                                  - Develop industry risk ratings for industry analysis
                                  - Use an external model from responsibility
ally binding guarantees, collateral, or reallocation by office of an outside vendor
                                  - Develop an internal model
                                  - Use economic or industry data
                                  - Use financial or bond market data as indicators of industry risk
                                  - Compare industry risk ratings with the weighted average credit rating of the bank's exposure by industry
                                  - Run scenarios (commodity price changes, interest rate changes) to determine sensitivity of loan
                                               portfolio to outside shocks
                                  - Determine covariances of industries or interrelationships among industries

                                     Stages of Industry Analysis: Level 5--Incorporate Industry Analysis Into the Loan Portfolio
                                     - Diversify the loan portfolio to reduce industry risk and industry concentrations
                                     - Distinguish between decision to originate loan and the decision to retain it for the portfolio
                                     - Use loan sales to reduce concentrations in the portfolio
                                     - Sell loans to organized secondary markets
                                     - Use industry risk systems:
                                     - To influence loan pricing
                                     - To develop risk adjusted rates of return measures
                                     - To assign capital or loan loss reserves
                                     - Conceptualize the loan portfolio like a securities portfolio


                                                                            Page 59
DATA NOT VERIFIED!




Module 5
Documentation Matrix                    Facility Grade


                                                                 MAXIMUM
CLASSIFICATION STANDARDS                                      EFFECT ON GRADE
DOCUMENTATION CONFORMS TO NORMAL LEGAL STANDARDS.
DOCUMENTATION UPDATES ARE TIMELY AND VALID                         NONE

DOCUMENTATION CONFORMS TO NORMAL LEGAL STANDARDS.
DOCUMENTATION UPDATES ARE TIMELY AND VALID
FINANCIAL COVENENTS PRESENT BUT MAY LACK STRENGTH.              FROM 0 TO +1

DOCUMENTATION MAY NOT CONFORM TO NORMAL STANDARDS.
UPDATES ARE PAST DUE AND MAY NOT BE VALID (UCC FILINGS ETC)    FROM +1 TO + 2

DOCUMENTATION CLEARLY DOES NOT CONFORM TO NORMAL
STANDARDS                                                      FROM +3 TO+ 8

DOCUMENTATION ADJUSTMENT TO GRADE                    0
CUMULATIVE RISK GRADE             4.00              4.00
DATA NOT VERIFIED!
DATA NOT VERIFIED!
     DATA NOT VERIFIED!



MODULE 6:


GUARANTEES                          Facility Grade
B ORROWER                             Exp ected       Expected
RATING                                 Bond            Default
                                       Ratin g      Factor in b.p.                   GUARANTEE                     DOCUMENTATION


1:                                             EDF High 0.02
SUBSTAN-                                       EDF Mean 0.02         UNCONDITIONAL                           DOCUMENTATION PERFECTED
TIALLY                              AAA to AA- EDF Low 0.02                                                  AND UNCONTESTABLE
RISK
FREE




2:
MINIMAL
RISK                                  AA to A-    EDF High 0.13
                                                  EDF Mean 0.02
                                                  EDF Low 0.02
                                                                     CONSIDER SUBSTITUTING GUARANTOR'S
                                                                     CREDIT GRADE FOR OBLIGOR'S.




3:
MODEST
RISK                                A+ to BBB+ EDF High 0.27
                                               EDF Mean 0.06
                                               EDF Low 0.03



                                                                     COVERAGE MAY INCLUDE A FEW
4:                                                                   CONDITIONS.


AVERAGE                                         EDF High 0.87
RISK                                BBB+ to BBB EDF Mean 0.16
                                                EDF Low 0.08
                                                                     APPLY EXPECTED LOSS FACTOR TO MATRIX
                                                                     ATTACHED TO THIS SECTION TO DETERMINE
                                                                     W EIGHTED GUARANTOR/OBLIGOR GRADE


                                                                     COVERAGE MAY INCLUDE SEVERAL            DOCUMENTATION EXISTS AND
5:                                                                   CONDITIONS.                             IS PERFECTED. HOW EVER
ABOVE                                                                                                        DOCUMENTATION MAY BE
AVERAGE                                         EDF High 1.62                                                QUESTIONABLE.
RISK                                BBB to BBB- EDF Mean 0.25
                                                EDF Low 0.24
                                                                     APPLY EXPECTED LOSS FACTOR TO MATRIX
                                                                     ATTACHED TO THIS SECTION TO DETERMINE
                                                                     W EIGHTED GUARANTOR/OBLIGOR GRADE


                                                                     COVERAGE IS VERY CONDITIONAL            DOCUMENTATION EXISTS AND
6:                                                                                                           IS PERFECTED. HOW EVER IT
HIGH RISK                                       EDF High 2.65                                                CLEARLY LACKS STRENGTH.
                                                EDF Mean 0.52
                                    BBB- to BB- EDF Low 0.24




                                                                     CONSIDER THAT GUARANTEE HAS LIMITED
                                                                     VALUE TO IMPROVE OBLIGOR'S GRADE
7:
MANAGEMENT                               B        EDF High 5.44                                              SERIOUS DEFICIENCY
ATTENTION                                         EDF Mean 1.89
                                                  EDF Low 0.64




8:
SPECIAL
MENTION                                  C        EDF High 19.06
OR                                                EDF Mean 2.89      NO VALUE
SUB-                                              EDF Low 2.85
STANDARD




9:
DOUBTFUL                                 D
                                                  EDF High
                                                  >19.06




10:
LOSS                                     D        EDF High
                                                  >19.06




Guarantors Grade                        2
Enter % Obligation: Guarantor          70%
Obligors % of Obligation               30%
Expected Default Factor/Guarantor        6
Expected Default Factor/Obligor         37             15.09
 DATA NOT VERIFIED!




MODULE 6:


GUARANTEES                           Facility Grade
B ORROWER                             Exp ected     Expected
RATING                                  Bond         Default
                                       Ratin g    Factor in b.p.          GUARANTEE      DOCUMENTATION
OBLIGORS CUMULATIVE GRADE                 4                                  3.50            3.50
TRANSACTION WEIGHTED GRADE               3.50                                                3.50
Formula: % Obligation (Expected Default Factor Obligor) + % Obligation (EDF Guarantor)       3.50
DATA NOT VERIFIED!
DATA NOT VERIFIED!
 DATA NOT VERIFIED!




MODULE 7

COLLATERAL MATRIX
Facility Grade
CLASSIFICATION I: HIGHLY LIQUID AND READILY ATTAINABLE COLLATERAL WITH DIFFERENCE SECURED BY
                 OTHER LESS LIQUID ASSETS
                                                                                MAXIMUM
SECURITY                                                   % EXPOSURE       EFFECT ON GRADE
CASH                                                       50 - 70                 -1
CD'S, BANKERS ACCEPTANCES OR COMMERCIAL PAPER              70 - 99                 -2
TOP INVESTMENT GRADE BONDS                                 > 99                   TO -4

CLASSIFICATION II: INDEPENDENT AUDIT/VALUATION REQUIRED
                                                                                MAXIMUM
SECURITY                                                   COVERAGE         EFFECT ON GRADE
HIGHEST ACCOUNTS RECEIVABLE QUALITY/LIQUID AND DIVERSIFIED110% - 120%              -2
HIGHEST INVENTORY QUALITY/LIQUID AND DIVERSIFIED          120% - 150%              -2
FIXED ASSETS - PRIME AND READILY MARKETABLE               140% 200%                -1
REAL ESTATE - COMMERCIAL
COLLATERAL EASILY ACCESSIBLE BY ASSIGNEES OR PARTICIPANTS
VOTING RIGHTS ON COLLATERAL NOT ABRIDGED




CLASSIFICATION III: OTHER COLLATERAL
                                                              MAXIMUM
SECURITY                                                  EFFECT ON GRADE
LEASEHOLD IMPROVEMENTS
STOCK OF SUBSIDIARIES                                       NO IMPACT
STOCK ON PINK SHEETS
RECEIVABLES: CONCENTRATED/QUESTIONABLE QUALITY
INVENTORY: CONCENTRATED/QUESTIONABLE QUALITY
REAL ESTATE: QUESTIONABLE QUALITY AND MARKETABILITY




COLLATERAL EFFECT ON GRADE                                      -1
CUMULATIVE RISK GRADE                       3.50                2.50
Override Collateral If Grade Worse than 8
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!
     DATA NOT VERIFIED!




Module 8

PURPOSE                                Facility Grade

                                                                MAXIMUM
CLASSIFICATION STANDARDS                                   EFFECT ON GRADE
FACILITY IS APPROPRIATE FOR BUSINESS
MATCH FUNDING APPROPRIATE                                         NONE




FINANCING STRATEGY NOT APPROPRIATE FOR OBLIGOR                     +1
OBLIGOR BORROWING SHORT TERM TO FINANCE CAPITAL REQUIREMENTS
FACILITY USED TO FINANCE EXCESSIVE DIVIDENDS


UNSECURED FACILITY WHILE OTHER LENDERS HAVE THE BEST COLLATERAL
ROBFEL IS SUBORDINATED LENDER                                   + 2

POOR LOAN STRUCTURE




PURPOSE ADJUSTMENT TO GRADE
CUMULATIVE RISK GRADE                   2.50        2.50
DATA NOT VERIFIED!
         DATA NOT VERIFIED!

Module 9
TENOR                         Facility Grade
                                Expected
BORROWER                         Bond        THREE < ONE <
RATING                           Rating      MONTHS   YEAR   1   2   3    4    5    6    7     >8

1:
SUBSTANTIALLY RISK FREE        AAA to AA-                                                     0.25
2
MINIMUM RISK                    AA to A-      -1      -1                                       1
3:
MODEST RISK                    A+ to BBB+     -1      -1                                 +1    +2
4:
AVERAGE RISK                  BBB+ to BBB      -1                                   +1   +1    +2
5:
BELOW AVERAGE RISK            BBB to BBB-                                      +1   +2   +2    +2
6:
MANAGEMENT ATTENTION RISK      BBB- to BB-                                +2   +2   +2   +2    +3
7:
SPECIAL MENTION                    B                                 +1   +2   +2   +2   +2    +3
8:
SUBSTANDARD                        C                                 +1   +1   +1   +2   +2    +2
9:
DOUBTFUL                           D                                           +1   +1   +1    +1
10:
LOSS                               D


TENOR ADJUSTMENT TO GRADE                      1
CUMULATIVE RISK GRADE             2.50       3.50
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!
     DATA NOT VERIFIED!




Module10

PORTFOLIO RISK AND INVESTMENT FACTORS

                                                         MAXIMUM
CLASSIFICATION STANDARDS                             EFFECT ON GRADE
FACILITY HAS A NEUTRAL EFFECT ON ROBFELL'S PORTFOLIO
                                                          NONE
FACILITY PROVIDES ADEQUATE OPPORTUNITIES IN THE
SECONDARY MARKET



                                                        FROM 0 TO
FACILITY HAS A NEUTRAL OR POSITIVE EFFECT ON ROBFELL'S PORTFOLIO - 2

FACILITY PROVIDES EXCELLENT OPPORTUNITIES IN THE
SECONDARY LOAN MARKET


FACIITY SIGNIFICANTLY INCREASES PORTFOLIO'S                            FROM + 1 TO + 8
EXPOSURE TO SYSTEMATIC RISK

FACILITY REPRESENTS AN ILLIQUID ASSET PROVIDING
FEW OPPORTUNITIES IN THE SECONDARY LOAN MARKET

PORTFOLIO ADJUSTMENT TO GRADE                              0
CUMULATIVE RISK GRADE      3.50                           3.50




Loan Portfolio Management: Federal Reserve Loan Examination Guidlines
- Establish geographic limits for loans
- Establish suggested guidelines for aggregate outstanding loans in relation to other balance sheet
   catagories
- Establish loan authority of committees and individual lending officers
- Define acceptable types of loans
- Establish maximum maturities for various types of loans
- Establish loan pricing
- Establish appraisal policy
      DATA NOT VERIFIED!




- Establish minimum financial information required at inception of credit
- Establish limits and guidelines for purchasing paper
- Establish collection procedures
- Define the duties and responsibilities of loan officers and loan committees
- Outline loan portfolio management objectives that acknowledge concentrations of credit within
   specific industries
- Loan portfolio management policies and objectives reviewed at least annually to
 determine if they are compatible with changing market conditions

Maintenance

- Written applications required for all loans
- Maintain credit files for all borrowers
- Credit file contain information on:
   a) The purpose of the loan;
   b) The planned repayment schedule;
   c) The planned disposition of loan payments.
- Periodic submission of financial statements by all borrowe by readily marketable collateral
   by readilily marketable collateral
- Tickler file maintained to ensure that current financial information is requested and received
- Require submission of audited financial statements based on dollar amount of commitment
- Bank performs a credit investigation on proposed and existing borrowers for new loan applications
- Lines of credit reviewed and updated at least annually
- Borrowers' outstanding liabilities checked to appropriate lines of credit prior to granting additional advances
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!




                                                    SUMMARY RISK RATING

     Company:          Great CoupleDesign, Inc.           Category:       General Corporate   Analyst:     John Smith
     Address:          123 Success Court                  Max Exposure:       80,000          Credit Area: Global Credit Co.
     City/State/Zip:   Old Westbury, NY                   Facility Type:       Senior         Data Source: Audited
     Date:             July 5, 2001                       Classification:      Bridge         Audit Date: 6/30/2001

     Weights                                                                  Credit Rating
     Operating Cash Flows                           29%     4.0                Obligor Grade:        4.0
     Debt Capacity and Financing Capacity           36%     5.0                System Grade          3.5
     Asset/Liability Quality                        21%     3.0                Final Grade:          4.0
     Valuation                                      14%     2.0

     Obligor Financial Measure
     Industry Specific Cumulative Grade Weights                               Previous Rating
                                         Unit       Cumulative                Previous Risk Grade2               2 1/1/2000
     OBLIGOR GRADES                     Grade Change Grade                    Previous Risk Grade                3 1/1/2001
     Cash Flow                            3.0          3.0
     Debt Capacity/Financing Flexibility 4.0    0.3    3.3                    Industry SIC Code                           12345
     Asset Quality                        4.0   0.1    3.4                    S&P Debt Rating                              AAA
     Valuation Measures                   4.0   0.3    3.7                    Shadow Debt Rating                           1001
     Contingencies                        5.0   0.0    3.7                    KMV Default
     Financial Reporting                  4.0   0.0    3.7                    Secondary Mk Liquidity                  Not Liquid
     Management Depth                     4.0   0.0    3.7                    Total Debt/EBITDA                        12345.0x
     Fin Development                      0.0   0.0    3.7                    Interest Coverage                       100000.0x
     Industry Segment                     6.0   0.0    3.7
     Industry Position                    5.0   0.3    4.0                    Summary Rating                 Grade      Change
     Country Risk                         1.0   0.0    4.0                    Obligor Only Grade                4.0         NA
                                                                              Facility Risk Grade Adjustments -0.5         -4.5
     FACILITIES GRADES                                                        System Risk (Rounded)             3.5         4.0
     Documentation                      0.0        0.0      4.0               Adjustments (Comments Below):
     Guarantees                         0.0       -0.5      3.5               Financial Development              0
     Guarantee Documentation            0.0        0.0      3.5               Other
     Collateral                        -1.0       -1.0      2.5               Final Adjusted Rating              4
     Purpose                            0.0        0.0      2.5
     Tenor                              1.0        1.0      3.5
     Portfolio                          0.0        0.0      3.5

     Signatures:

     Signatures:


     0
DATA NOT VERIFIED!




                                                                                                                                                              SUMMARY RISK RATING

     Company:                                           Great CoupleDesign, Inc.                                                                                           Category:       General Corporate                                                                      Analyst:     John Smith
     Address:                                           123 Success Court                                                                                                  Max Exposure:       80,000                                                                             Credit Area: Global Credit Co.
     City/State/Zip:                                    Old Westbury, NY                                                                                                   Facility Type:       Senior                                                                            Data Source: Audited
     Date:                                              July 5, 2001                                                                                                       Classification:      Bridge                                                                            Audit Date: 6/30/2001

     Weights                                                                                                                                                                                                                                       Credit Rating
     Operating Cash Flows                                                                                                                                     29%                     4.0                                                          Obligor Grade:                                              4.0
     Debt Capacity and Financing Capacity                                                                                                                     36%                     5.0                                                          System Grade                                                3.5
     Asset/Liability Quality                                                                                                                                  21%                     3.0                                                          Final Grade:                                                4.0
     Valuation                                                                                                                                                14%                     2.0



      C 7.0                                                                                                                                                   Cumulative and Individual Risk Grades
                                                                                                                                                                 P


                     6.0



                     5.0



                     4.0
       Risk Grades




                     3.0



                     2.0



                     1.0



                     0.0
                                        Capacity/Financing




                                                                                                                                                                                                                                                                                                                                            Portfolio
                                                                                                  Contingencies
                            Cash Flow




                                                             Asset Quality




                                                                                                                     Financial Reporting



                                                                                                                                           Management Depth




                                                                                                                                                                                                                                                                                  Guarantee Doc
                                                                             Valuation Measures




                                                                                                                                                                                                                                                                                                                                                             Other Adj.
                                                                                                                                                                                                                                                                                                                               Tenor
                                                                                                                                                                                                                                                                                                                     Purpose
                                                                                                                                                                                                                                                     Documentation




                                                                                                                                                                                                                                                                                                  Collateral
                                                                                                                                                                                                                                    Country Risk
                                                                                                                                                                                                                Industry Position
                                                                                                                                                                                        Industry Segment




                                                                                                                                                                                                                                                                     Guarantees
                                                                                                                                                                    Fin Development




                     -1.0
                                              Debt




                     -2.0
                                                                                                                                                                                                           Risk Catagories                                                                                                     Individual               Cumulative




                                                                                                                  Financial Reporting Analysis - Reasons For Overrides

     Reason for Override in Contingencies Grade:


     Reason for Override in Financial Reporting:


     Reason for Override in Industry Segment:


     Reason for Override in Industry Position:


     Reason for Override in Country Risk:


     Reason for Override in Collateral:




     * * * Need Correct References * * *
             Cumulative Unit
               Grade Grade
     Data for Graph
DATA NOT VERIFIED!




                                                  SUMMARY RISK RATING

     Company:          Great CoupleDesign, Inc.         Category:       General Corporate   Analyst:     John Smith
     Address:          123 Success Court                Max Exposure:       80,000          Credit Area: Global Credit Co.
     City/State/Zip:   Old Westbury, NY                 Facility Type:       Senior         Data Source: Audited
     Date:             July 5, 2001                     Classification:      Bridge         Audit Date: 6/30/2001

     Weights                                                                Credit Rating
     Operating Cash Flows                         29%     4.0                Obligor Grade:        4.0
     Debt Capacity and Financing Capacity         36%     5.0                System Grade          3.5
     Asset/Liability Quality                      21%     3.0                Final Grade:          4.0
     Valuation                                    14%     2.0


     Cash Flow 3.0        3.0
                3.3       4.0
     Debt Capacity/Financing
                3.4
     Asset Quality        4.0
                3.7
     Valuation Measures 4.0
                3.7
     Contingencies        5.0
                3.7
     Financial Reporting 4.0
                3.7
     Management Depth 4.0
                3.7
     Fin Development      0.0
                3.7
     Industry Segment 6.0
                4.0
     Industry Position    5.0
                4
     Country Risk.0       1.0
                4.0
     Documentation        0.0
     Guarantees3.5        0.0
                3.5
     Guarantee Doc        0.0
     Collateral 2.5      -1.0
     Purpose 2.5          0.0
     Tenor      3.5       1.0
     Portfolio 3.5        0.0
     Other Adj. 3.5       0.0
DATA NOT VERIFIED!
DATA NOT VERIFIED!
DATA NOT VERIFIED!
      Verification Summary Section:                    Get Intro - Dialog Box Tutorial Responses
                  1 = Yes                              Name:
                   0 = No                              Credit Area:
                                                       Date:
OverRides:                              Y/N   Reason   Company:
Contingencies                            0      0      Address:
Financial Reporting                      0      0      City/State/Zip
Industry Segment                         0      0      Max Exposure:
Industry Position                        0      0      Facility Description:
Country Risk                             0      0               Senior:
Collateral                               0      0               Subordinated:
                                                                Bridge:
Sum Overrides:                          0                       HLT:
                                                       Previous Risk Grade:
                                                       Previous Risk Date:
Missing Category Risk:                  Y/N            Previous Risk Grade2:
Obligor Financial Measures: Cash Flow    0             Previous Risk Date2:
Debt Capacity/Financing Flexibility      0             SIC Code:
Asset/Liability Quality                  0             SIC Check:
Valuation Measures                       0             S&P Debt:
Contingencies                            0             Shadow Debt:
Financial Reporting                      0             Secondary Mkt Liquidity:
Management Depth                         0             Mkt Liquidity Lable:
Financial Development                    1             Total Debt Stroke EBITDA:
Industry Segment                         0             Interest Coverage:
Industry Position                        0             Selected Industry
Country Risk                             0                      General Corporate:
Documentation                            0                      Utilities/Trans/Tele:
                                                                Financial:
Sum Missing Risk:                       1                       Construction/Eng:
  (excludes Documentation)                                      Wholesale Dist:

                                                       Facility Type:
                                                       Facility Classification:
                                                       SelectedIndustry:
                                                       Audited (Y/N):
                                                       Audited Date:
                                                       Data Source
                                                                Audited:
                                                                Interim:
                                                                Proforma:

                                                       GuaranteesSheet:
                                                       CollateralSheet:
alog Box Tutorial Responses           Get Intro - Dialog Box Tutorial Responses
           John Smith                 Name:                          John Smith
           Global Credit Co.          Credit Area:                   Global Credit Co.
           July 5, 2001               Date:                          July 5, 2001
           Great CoupleDesign, Inc.   Company:                       Great CoupleDesign, Inc.
           123 Success Court          Address:                       123 Success Court
           Old Westbury, NY           City/State/Zip                 Old Westbury, NY
                  80000               Max Exposure:                         80000
                                      Facility Description:
                      1                        Senior:                           1
                      0                        Subordinated:                     0
                      1                        Bridge:                           1
                      0                        HLT:                              0
                      3               Previous Risk Grade:                       3
           1/1/2001                   Previous Risk Date:            1/1/2001
                      2               Previous Risk Grade2:                      2
           1/1/2000                   Previous Risk Date2:           1/1/2000
                  12345               SIC Code:                             12345
                      0               SIC Check:                                 0
           AAA                        S&P Debt:                      AAA
                   1001               Shadow Debt:                            1001
                      3               Secondary Mkt Liquidity:                   3
           Not Liquid                 Mkt Liquidity Lable:           Not Liquid
                  12345               Total Debt Stroke EBITDA:             12345
                100000                Interest Coverage:                   100000
                                      Selected Industry
                      1                        General Corporate:                1
                      0                        Utilities/Trans/Tele:             0
                      0                        Financial:                        0
                      0                        Construction/Eng:                 0
                      0                        Wholesale Dist:                   0

           Senior                     Facility Type:              Senior
           Bridge                     Facility Classification:    Bridge
           General Corporate          SelectedIndustry:           General Corporate
           Y                          Audited (Y/N):              Y
           6/30/2001                  Audited Date:               6/30/2001
           Audited                    Data Source                 Audited
                     1                         Audited:                     1
                     0                         Interim:                     0
                     0                         Proforma:                    0

                      1               GuaranteesSheet:                        1
                      1               CollateralSheet:                        1
                                        Default Factors




Guarantors Grade:      2.00   Guarantor Default Factor:                                  5.7
Obligors Grade:        4.00   Obligor Default Factor:                                    37
Obligor Default Factor: 15.09 Transaction Weighted Grade:                                3.5
            Default                       Obligor
             Factor Guarantors Obligors   Default
 Rating     Average     Grade   Grade      Factor
 -9999        0
                                                                                                                          Default Factor
   1.0        2         0         0              0
   1.5        2         0         0              0                          2500




                                                          Default Factor in b.p.
   2.0       5.7       5.7        0              0
                                                                            2000
   2.5       6.7       5.7        0              0
   3.0        12       5.7        0              0                          1500
   3.5        19       5.7        0            3.5                          1000
   4.0        37       5.7       37            3.5
                                                                                   500
   4.5        45       5.7       37            3.5
   5.0       70.3      5.7       37            3.5                                   0




                                                                                                  1.0
                                                                                                        2.0
                                                                                                              3.0
                                                                                                                    4.0
                                                                                                                           5.0
                                                                                                                                 6.0
                                                                                                                                       7.0
                                                                                                                                             8.0
                                                                                         Rating
   5.5         90      5.7       37            3.5
   6.0        114      5.7       37            3.5
   6.5        150      5.7       37            3.5
                                                                                                                          Grade
   7.0        265      5.7       37            3.5
   7.5        500      5.7       37            3.5
   8.0        825      5.7       37            3.5
   8.5       1200      5.7       37            3.5
   9.0       2000      5.7       37            3.5
   9.5       2000      5.7       37            3.5
  10.0       2000      5.7       37            3.5
 9999.0      2000      5.7       37            3.5




                                           Page 89
Default Factors




   Page 90
Default Factors




   Page 91
                                                Default Factors




Default Factor




                               Default Factor
            8.0
                  9.0
                        10.0




                                                   Page 92
Default Factors




   Page 93
Default Factors




   Page 94
Default Factors




   Page 95
Default Factors




   Page 96
Default Factors




   Page 97
                                Weights




Industry Weights

General Corporate: Cumulative Grade Weights
Basic Materials Combination cash flow and refinancing (no assets)
Operating Cash Flows              1       2      4      4
Debt Capacity and Financing Capacity      1      2      5
Asset/Liability Quality                          1      3
Valuation                                               2
Management Depth/Accept or Enter6    6 : 1 Means Relationship Between
                                     Cumulative Grade and Management Depth



Utilities/Trans/Telecommunications: Cumulative Grade Weights
Capital Goods: Combination cash flow and refinancing (no assets)
Operating Cash Flows              1       2      4      5
Debt Capacity and Financing Capacity      1      2      4
Asset/Liability Quality                          1      3
Valuation                                               2
Management Depth/Accept or Enter6    6 : 1 Means Relationship Between
                                     Cumulative Grade and Management Depth



Wholesale Distribution /Trading: Cumulative Grade Weights
Consumer Cyclicals Combination cash flow and refinancing (no assets)
Operating Cash Flows              1       2      4      5
Debt Capacity and Financing Capacity      1      2      5
Asset/Liability Quality                          1      2
Valuation                                               2
Management Depth/Accept or Enter6    6 : 1 Means Relationship Between
                                     Cumulative Grade and Management Depth



Financial Institutions: Cumulative Grade Weights
Transportation: Pure asset conversion loans (DIP and warehouse financing)
                                  1       2      4      4       1

Debt Capacity and Financing Capacity      1      2      6
Asset/Liability Quality                          1      3
Valuation                                               1
Management Depth/Accept or Enter6    6 : 1 Means Relationship Between
                                     Cumulative Grade and Management Depth



Construction and Engineering: Cumulative Grade Weights
Utility Combination cash flow and refinancing (no assets)
Operating Cash Flows              1       2      3      4
Debt Capacity and Financing Capacity      1      2      6
Asset/Liability Quality                          2      1
Valuation                                               3
Management Depth/Accept or Enter6    6 : 1 Means Relationship Between
                                     Cumulative Grade and Management Depth




                                Page 98
                                                SICCodes




                                          Utilities/Trans/Telecom
                          From To                                                                     From To
Agriculture Production     111   971                   Transportation                Railroads        4011    4013

Metal Mining              1011   1099                                              Motor Freight      4211    4231

Coal Mining               1221   1241                                               Water Trans       4412    4499

Oil & Gas Extraction      1311   1389                                                Pipelines        4612    4619

Mining:Other              1411   1499

Foods                     2011   2099                            Utilities              All           4911    4917

Tobacco                   2111   2141

Textiles                  2211   2299          Telecommunications                       All           4812    4899
Apparel                   2311   2399
Lumber                    2411   2499

Furniture                 2511   2599             Wholesale
Paper                     2611     & Engineering Contractors
                                 2679                                                                 From To
Printing & Pub            2711   2796                                            Durable Goods        5012    5099
Chemicals                 2812   2899                                               Non-Durable       5111    5199
Petroleum Refining        2911   2999                                               Engineering       8711
Rubber                    3011   3089
Leather                   3111   3100

Stone/Clay/Glass          3211   3299                       Financial
Other Metals- Steel/Alu   3312   3399                                                                 From To
Metal Fabrication         3411   3499                                            Holding/Investment   6712    6799
Ind & Computer Equip      3511   3599                                             Depository Insti    6011    6099
Electronic Equip          3612   3699                                             Non-Depository      6111    6163
Measuring Equip           3812   3873                                             Securities Firms    6211    6289
Misc. Mfg.                3911   3999                                            Equipment Leasing     7352   7359
Local Trans.              4111   4173                                               Insurance *       6311    6399
                                                             * [Excluding HMO]
Bldg. & Home Mat          5211   5271
Gen Merchandise           5311   5399

Food Stores               5411   5499                      Real Estate                                From To
Auto & Glass retail       5511   5599                                                 General         6512    6553
Apparel Stores            5611   5699                                                  Hotel          7016    7041
Home Furnishings          5712   5736
Restaurants               5812   5813
Misc. Retail              5912   5999


                          From To
Personal Services       7211     7299
Business Services       7311     7699
Motion Pic. & Amusement 7812     7999

Offices & Clinics         8011   8099
Hosp & Medical Plans      6324
Legal; & Educ             8111   8299
Social                    8322   8699
Professional Serv.        8712   8748




                                        END                                                                   END




                                                 Page 99
              S&P Sr. EBITDA Margin %                         %           Pretax Profit/
                                                EBITDA Margin Pretax Profit/
              Debt Rtg   3 Yr Avg                               TA_ 3Yr       TA_

1    Median     AAA         21.10   Above              14.41         0.08       0.15

     Mean                   21.10   27.00              14.71         0.08       0.15

     Stdev                  2.83                       6.82          0.06       0.21



2    Median     AA          18.55                      19.46         0.13       0.10

     Mean                   19.14       27.00          18.65         0.13       0.14

     Stdev                  5.09        22.00          5.73          0.05       0.07



3    Median      A          15.80                      15.51         0.09       0.10

     Mean                   16.66       22.00          16.43         0.09       0.10

     Stdev                  5.96        19.00          6.43          0.05       0.07



4    Median   BBB+_BBB      14.05                      14.04         0.08       0.10

     Mean                   14.70       19.00          14.69         0.09       0.08

     Stdev                  5.91        15.00          5.97          0.05       0.09



5    Median   BBB-_BB+      14.40                      13.31         0.06       0.10

     Mean                   14.89       15.00          14.18         0.07       0.09

     Stdev                  6.47        13.00          6.36          0.08       0.18



6    Median    BB_BB-       12.70                      12.91         0.04       0.10

     Mean                   14.62       13.00          14.15         0.05       0.05

     Stdev                  7.63        11.00          6.89          0.07       0.09



7    Median   B+_B_B+       11.00                      11.22         0.02       0.00

     Mean                   14.34       11.00          15.01         0.02       0.02

     Stdev                  10.05        9.00          10.47         0.07       0.08



8    Median     CCC                     9.00
                                        6.00


9    Median     DDD                     6.00
                                        4.00


10    Loss                              Loss
           EBITDA/
EBITDA/ Range Total Debt/ Range  Inv. T/O
                                Cur RangeValuation
         Interest_3Yr
Interest Cover EBITDA TD/EBITDA Ratio CR Range

  13.86   Above   1.37   Below   1.50   AboveAbove
  18.36   22.00   1.55    0.50   1.53    1.80 20.00
  15.84           0.97           0.30



  20.27           0.81           1.50

  34.18   22.00   1.18   0.50    1.56   1.80    R
  55.80   16.00   1.08   0.75    0.70   1.60    A
                                                N
  8.65            1.63           1.50           G
  14.94   16.00   1.91   0.75    1.70   1.60    E
  26.01   12.00   1.24   1.50    1.09   1.40

  8.58            1.60           1.80

  15.12   12.00   1.96   1.50    1.93   1.40   7.00
  25.68    7.50   1.49   2.25    0.86   1.20

  5.06            2.20           1.80

  9.29    7.50    2.62   2.25    1.94   1.20   5.00
  15.53   5.00    1.62   3.00    0.96   1.00

  3.36            3.43           1.85

  10.48   5.00    3.77   3.00    2.10   1.00
  37.91   3.00    2.68   4.00    0.87   0.95

  2.05            4.50           2.05

  3.54    3.00    5.16   4.00    2.48   0.95
  3.98    2.00    4.17   6.00    1.68   0.90

          2.00           6.00           0.90
          1.00           8.00           0.85


          Below          Above          0.85
           1.00           8.00          0.80


          Loss           Loss           Loss Loss
'
' Auto Open Macro
'
Sub Auto_Open()

  ' Goto Opening Screen
  Application.Goto Reference:="Intro"

  ' Invoke Risk Rating System Menus
  Set_RiskRatingMenu

  'Set Print Headers to Not Verified- The User has to Verify After Entering Data
  PrinterSettings

End Sub



'
' Export Summary to a new worksheet
'
Sub Export_Summary()

  ' Copy Summary Data
  Sheets("SUMMARY").Select
  Cells.Select
  Application.CutCopyMode = False
  Selection.Copy
  Workbooks.Add
  Cells.Select
  Selection.PasteSpecial Paste:=xlValues, Operation:=xlNone, _
     SkipBlanks:=False, Transpose:=False
  Selection.PasteSpecial Paste:=xlFormats, Operation:=xlNone, _
     SkipBlanks:=False, Transpose:=False

  ' Copy Graph
  ActiveWindow.ActivateNext
  ActiveSheet.DrawingObjects("SummaryChart").Select
  Selection.Copy
  ActiveWindow.ActivateNext
  Range("B60").Select
  ActiveSheet.PasteSpecial Format:="Picture", Link:=False, _
     DisplayAsIcon:=False

  ' Copy Summary Text
  ActiveWindow.ActivateNext
  ActiveSheet.DrawingObjects("SummaryText").Select
  Selection.Copy
  Range("A1").Select
  ActiveWindow.ActivateNext
  Range("B47").Select
  ActiveSheet.PasteSpecial Format:="Picture", Link:=False, _
    DisplayAsIcon:=False

  Range("A1").Select

End Sub


'
' Verify Data Entry
'
Sub Verify_DataEntry()

  ' Check Contingencies Override
  If Range("Check_ContingenciesOverride") = 1 Then
     If Range("Reason_ContingenciesOverride") = 0 Then
        Range("EnterReason_ContingenciesOverride") = InputBox("Enter Reason for Override in Contingencies Credit Rating")
     End If
     If Range("Reason_ContingenciesOverride") = 0 Then
        Range("EnterReason_ContingenciesOverride") = "No reason entered by analyst"
     End If
  Else
     Range("EnterReason_ContingenciesOverride") = "No Override"
  End If

  ' Check Financial Reporting Override
  If Range("Check_FinancialReportingOverride") = 1 Then
     If Range("Reason_FinancialReportingOverride") = 0 Then
        Range("EnterReason_FinancialReportingOverride") = InputBox("Enter Reason for Override in Financial Reporting Rating
     End If
     If Range("Reason_FinancialReportingOverride") = 0 Then
        Range("EnterReason_FinancialReportingOverride") = "No reason entered by analyst"
     End If
  Else
     Range("EnterReason_FinancialReportingOverride") = "No Override"
  End If

  ' Check Industry Segment Override
  If Range("Check_IndustrySegmentOverride") = 1 Then
     If Range("Reason_IndustrySegmentOverride") = 0 Then
        Range("EnterReason_IndustrySegmentOverride") = InputBox("Enter Reason for Override in Industry Segment Rating")
     End If
     If Range("Reason_IndustrySegmentOverride") = 0 Then
        Range("EnterReason_IndustrySegmentOverride") = "No reason entered by analyst"
     End If
  Else
     Range("EnterReason_IndustrySegmentOverride") = "No Override"
  End If

  ' Check Industry Position Override
  If Range("Check_IndustryPositionOverride") = 1 Then
     If Range("Reason_IndustryPositionOverride") = 0 Then
        Range("EnterReason_IndustryPositionOverride") = InputBox("Enter Reason for Override in Industry Position Rating")
  End If
  If Range("Reason_IndustryPositionOverride") = 0 Then
     Range("EnterReason_IndustryPositionOverride") = "No reason entered by analyst"
  End If
Else
  Range("EnterReason_IndustryPositionOverride") = "No Override"
End If

' Check Country Risk
If Range("Check_CountryRiskOverride") = 1 Then
   If Range("Reason_CountryRiskOverride") = 0 Then
      Range("EnterReason_CountryRiskOverride") = InputBox("Enter Reason for Override in Country Risk Rating")
   End If
   If Range("Reason_CountryRiskOverride") = 0 Then
      Range("EnterReason_CountryRiskOverride") = "No reason entered by analyst"
   End If
Else
   Range("EnterReason_CountryRiskOverride") = "No Override"
End If

' Check Collateral
If Range("Check_CollateralOverride") = 1 Then
   If Range("Reason_CollateralOverride") = 0 Then
      Range("EnterReason_CollateralOverride") = InputBox("Enter Reason for Override in Collateral Rating")
   End If
   If Range("Reason_CollateralOverride") = 0 Then
      Range("EnterReason_CollateralOverride") = "No reason entered by analyst"
   End If
Else
   Range("EnterReason_CollateralOverride") = "No Override"
End If


If Range("Check_ObligorMeasures") = 1 Then
   MsgBox ("Missing Category Risk for: Obligor Financial Measures: Cash Flow")
End If

If Range("Check_DebtCapacity") = 1 Then
   MsgBox ("Missing Category Risk for: Debt Capacity/Financing Flexibility")
End If

If Range("Check_AssetLiability") = 1 Then
   MsgBox ("Missing Category Risk for: Asset/Liability")
End If

If Range("Check_ValueMeasures") = 1 Then
   MsgBox ("Missing Category Risk for: Valuation Measures")
End If

If Range("Check_Contingencies") = 1 Then
   MsgBox ("Missing Category Risk for: Contingencies")
End If
  If Range("Check_FinancialReporting") = 1 Then
     MsgBox ("Missing Category Risk for: Financial Reporting")
  End If

  If Range("Check_Management") = 1 Then
     MsgBox ("Missing Category Risk for: Management Depth")
  End If

  If Range("Check_FinancialDevelopment") = 1 Then
     MsgBox ("Missing Category Risk for: Financial Situations and Recent Developments")
  End If

  If Range("Check_IndustrySegment") = 1 Then
     MsgBox ("Missing Category Risk for: Industry Segment")
  End If

  If Range("Check_IndustryPosition") = 1 Then
     MsgBox ("Missing Category Risk for: Industry Position")
  End If

  If Range("Check_CountryRisk") = 1 Then
     MsgBox ("Missing Category Risk for: Country Risk")
  End If

  If Range("Check_Documentation") = 1 Then
     MsgBox ("Missing Category Risk for: Documentation")
  End If



End Sub



'
' ---------- Goto Statements ----------
'
'
' Close Vertical Arrangement
'
'
Sub Goto_OPM1()
   ActiveWindow.WindowState = xlMaximized
   ActiveWindow.FreezePanes = False
   Worksheets("FinDev").Select
   Range("B1").Select

End Sub
'
'
Sub Goto_NextSheet()
   ActiveSheet.Next.Select
   Range("A1").Select
End Sub
'
' Goto Docum6
'
Sub Goto_NextSheetDocum6()
   If Range("GuaranteesSheet") = 1 Then
      Worksheets("GUAR3").Select
   ElseIf Range("CollateralSheet") = 1 Then
      Worksheets("Coll4").Select
   Else
       Worksheets("Purpose").Select
   End If
End Sub
'
' Goto GuaranteesSheet
'
Sub Goto_NextSheetGuarantees()
   If Range("CollateralSheet") = 1 Then
      Worksheets("Coll4").Select
   Else
       Worksheets("Purpose").Select
   End If
End Sub
'
' Goto SIC Codes
'
Sub Goto_SICCodes()

  ' Pass Entered Responses to the worksheet
  Range("SelectedName").Value = DialogSheets("GetInfo").EditBoxes("EnterName").Text
  Range("SelectedCreditArea").Value = DialogSheets("GetInfo").EditBoxes("EnterCreditArea").Text
  Range("SelectedDate").Value = DialogSheets("GetInfo").EditBoxes("EnterDate").Text
  Range("SelectedCompany").Value = DialogSheets("GetInfo").EditBoxes("EnterCompany").Text
  Range("SelectedAddress").Value = DialogSheets("GetInfo").EditBoxes("EnterAddress").Text
  Range("SelectedCityState").Value = DialogSheets("GetInfo").EditBoxes("EnterCityState").Text
  Range("SelectedMaxExposure").Value = DialogSheets("GetInfo").EditBoxes("EnterMaxExposure").Text
  Range("SelectedPreviousRisk").Value = DialogSheets("GetInfo").EditBoxes("EnterPreviousRisk").Text
  Range("SelectedPreviousDate").Value = DialogSheets("GetInfo").EditBoxes("EnterPreviousDate").Text
  Range("SelectedPreviousRisk2").Value = DialogSheets("GetInfo").EditBoxes("EnterPreviousRisk2").Text
  Range("SelectedPreviousDate2").Value = DialogSheets("GetInfo").EditBoxes("EnterPreviousDate2").Text
  Range("SelectedSIC").Value = DialogSheets("GetInfo").EditBoxes("EnterSIC").Text
  Range("SelectedSP").Value = DialogSheets("GetInfo").EditBoxes("PublicDebtRating").Text
  Range("SelectedShadow").Value = DialogSheets("GetInfo").EditBoxes("ShadowDebtRating").Text
  Range("SelectedSecondary").Value = DialogSheets("GetInfo").EditBoxes("SecondaryMktLiquidity").Text
  Range("SelectedEBITDA").Value = DialogSheets("GetInfo").EditBoxes("TotalDebt").Text
  Range("SelectedInterest").Value = DialogSheets("GetInfo").EditBoxes("InterestCoverage").Text
  Range("SelectedAuditYN").Value = DialogSheets("GetInfo").EditBoxes("EnterAudited").Text
  Range("SelectedAuditDate").Value = DialogSheets("GetInfo").EditBoxes("EnterAuditedDate").Text

  Worksheets("SICCodes").Select
   Range("A1").Select
   Range("SicCheck") = 1
   ActiveDialog.Hide
End Sub
'
'
'
Sub SplitScreen_SP()
'
   ActiveWindow.NewWindow
   Sheets("S&P").Select
   Windows.Arrange ArrangeStyle:=xlVertical
   ActiveWindow.SmallScroll ToRight:=1
End Sub
Sub SplitScreen_SP_Close()
'
' SplitScreen_SP_Close Macro
'
   ActiveWindow.ActivateNext
   ActiveWindow.Close
   Range("OFM!H109").Select
   ActiveWindow.WindowState = xlMaximized
End Sub
'
' Goto OFM Weights
'
Sub Goto_OFMWT()
   Application.Goto Reference:="OFMWT"
   End Sub
'
' Goto Industry Weights
'
Sub Goto_IndustryWeights()
   Application.Goto Reference:="IndustryWeights"
   Application.CutCopyMode = False

End Sub
'
' Goto Example
'
Sub Goto_OFMEX()
   Application.Goto Reference:="OFMEX"
   ActiveWindow.LargeScroll Down:=1
   Application.Goto Reference:="OFMEX"
End Sub
'
' Goto Industry Detail
'
Sub Goto_IndustryDetail()
   Range("AN1").Select
End Sub
'
' GoTo_Intro Macro
' Macro recorded 6/29/95 by Mort Glantz
'
'
Sub GoTo_Intro()
   Application.Goto Reference:="Intro1"
   ActiveWindow.LargeScroll Down:=1
   Application.Goto Reference:="Intro1"
End Sub
'
'
Sub Goto_CountryRisk()
   Application.Goto Reference:="CountryRisk"
   ActiveWindow.LargeScroll Down:=1
   Application.Goto Reference:="CountryRisk"
End Sub
'
'
Sub Goto_IEMWK()
   ' use a view
   Sheets("INDUS").Select
   Application.ExecuteExcel4Macro String:="View.Show(""VIEW_4"")"
End Sub
'
'
Sub Goto_IEMOV()
   Application.Goto Reference:="IEMOV"
   ActiveWindow.LargeScroll Down:=1
   Application.Goto Reference:="IEMOV"
End Sub
'
'
Sub Goto_IEMCW()
   Application.Goto Reference:="Cumulative_Risk_Plus_Industry_Risk_Grade"
   ActiveWindow.LargeScroll Down:=1
   Application.Goto Reference:="Cumulative_Risk_Plus_Industry_Risk_Grade"
End Sub
'
'
Sub Goto_IEMIP()
   Application.Goto Reference:="IEMIP"
   ActiveWindow.LargeScroll Down:=1
   Application.Goto Reference:="IEMIP"
End Sub
'
'
Sub Goto_IEMRR()
   Application.Goto Reference:="IEMRR"
   ActiveWindow.LargeScroll Down:=1
   Application.Goto Reference:="IEMRR"
End Sub
'
'
Sub Goto_IEMCR()
  Application.Goto Reference:="Country_Risk"
End Sub
'
'
Sub Goto_GWK()
  If Range("GuaranteesSheet") = 1 Then
     Application.Goto Reference:="GWK"
  Else
     MsgBox ("Guarantees Was Not Selected")
  End If
End Sub
'
'
Sub Goto_CWK()
  If Range("CollateralSheet") = 1 Then
     Application.Goto Reference:="CWK"
  Else
     MsgBox ("Collateral Was Not Selected")
  End If
End Sub
'
'
Sub Goto_CFR()
  Application.Goto Reference:="CFR"
End Sub
'
'
Sub Goto_PWK()
  Application.Goto Reference:="PWK"
End Sub
'
'
Sub Goto_DWK()
  Application.Goto Reference:="DWK"
End Sub
'
'
Sub Goto_PRTFR()
  Application.Goto Reference:="PRTFR"
End Sub
'
'
Sub Goto_TWK()
  Application.Goto Reference:="TWK"
End Sub
'
'
Sub Goto_Portfolio()
  Application.Goto Reference:="Portfolio"
End Sub
'
' GoTo_Summary Macro
' Macro recorded 5/22/95 by Mort Glantz
'
'
Sub GoTo_Summary()
   Application.Goto Reference:="Summary"
End Sub

'
' GoTo_Indfedres Macro
' Macro recorded 5/22/95 by Mort Glantz
'
'
Sub GoTo_Indfedres()
   Application.Goto Reference:="indfedres"
   ActiveWindow.LargeScroll Down:=1
   Application.Goto Reference:="indfedres"
End Sub

Sub GoTo_FinDev()
    Application.Goto Reference:="FinDev"
    ActiveWindow.LargeScroll Down:=1
    Application.Goto Reference:="FinDev"
End Sub
'
' GoTo_OFMWS Macro
'
Sub GoTo_OFMWS()
    Application.Goto Reference:="ofmws"
    Range("C7").Select
    ActiveWindow.FreezePanes = True
End Sub
'
' GoTo_Guarexamp Macro
' Macro recorded 5/15/95 by Mort Glantz
'
'
Sub GoTo_Guarexamp()
    Application.Goto Reference:="guarexam"
End Sub
'
' GoTo_Industry Macro
' Industry Grade set up together with freeze worksheet
'
'
Sub GoTo_Industry()
    Range("C7").Select
End Sub
'
' GoTo_Indus Macro
' Industry Worksheet and freeze worksheet
'
'
Sub GoTo_Indus()
    Application.Goto Reference:="industry"
    Range("C7").Select
    ActiveWindow.FreezePanes = True
End Sub
'
' View Essar Cash Flow Worksheet
'
Sub View_EssarCashFlow()
    Workbooks.Open Filename:="\RiskRating\EssarCF2.XLS", UpdateLinks:=1
    Windows.Arrange ArrangeStyle:=xlVertical
End Sub
'
' Close Essar Cash Flow Worksheet
'
Sub Close_EssarCashFlow()
    Windows("EssarCF2.XLS").Close
    ActiveWindow.WindowState = xlMaximized
End Sub


'
' FUNCTIONS
'
' used to determine if a specified formula in a cell has been overwritten
Function CkFormula(A, B)
   If A.Formula = B Then
      CkFormula = 0     ' 0 = "No" the formula has not been overwritten
      Exit Function
   End If
   CkFormula = 1        ' 1 = "Yes" the formula has been overwritten
End Function

'
' Print VBA Modules
'


'
' Printer Initialization Settings
'
'
Sub PrinterSettings()
   Worksheets("OFM").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
   Worksheets("FINDEV").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
   Worksheets("INDUS").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
   Worksheets("COUNTRYRISK").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
   Worksheets("DOCUM6").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
   Worksheets("GUAR3").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
  Worksheets("COLL4").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
  Worksheets("PURPOSE").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
  Worksheets("TENOR").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
  Worksheets("PORTFOLIO").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
  Worksheets("SUMMARY").PageSetup.LeftHeader = "DATA NOT VERIFIED!"
End Sub



'
' Print Procedures used in the Menus
'
Sub Print_Entire_System()

  ' Verify all data entry before printing any reports
  Verify_DataEntry
  If Range("Verify_Sum") > 0 Then
     MsgBox ("The System will not print until errors have been corrected!")
     Exit Sub
  End If

  ' Print Reports
  Print_OFM
  Print_FINDEV
  Print_INDUS
  Print_INDUS2
  Print_INDUS3
  Print_CountryRisk
  Print_DOCUMENT
  If Range("GuaranteesSheet") = 1 Then
     Print_GUARANTEES
  End If
  If Range("CollateralSheet") = 1 Then
     Print_COLLATERAL
  End If
  Print_PURPOSE
  Print_TENOR
  Print_PORTFOLIO
  Print_WEIGHTS
  Print_SICCodes
  Print_PageSummary

  ' Goto Introduction Screen
  Worksheets("Intro").Select
  Application.Goto Reference:="Intro"
End Sub


Sub Print_Summary()

  ' Verify all data entry before printing any reports
  Verify_DataEntry
  If Range("Verify_Sum") > 0 Then
     MsgBox ("The System will not print until errors have been corrected!")
     Exit Sub
  End If

  ' Print Summary
  Worksheets("SUMMARY").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$B$14:$P$104"
     .PrintTitleRows = "$1:$13"
     .PrintTitleColumns = ""

     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.25)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlPortrait
     .BlackAndWhite = False
     .Zoom = 70
  End With
' ActiveWindow.SelectedSheets.PrintOut Copies:=1
  ActiveSheet.PrintPreview

  ' Goto Introduction Screen
  Worksheets("Intro").Select
  Application.Goto Reference:="Intro"
End Sub




'
' Print Procedures
'

Sub Print_OFM()

  Worksheets("OFM").Select

  With ActiveSheet.PageSetup

      .PrintArea = "$E$7:$R$108"
      .PrintTitleRows = "$1:$6"
      .PrintTitleColumns = "$A:$D"
      .LeftHeader = " "

      .LeftMargin = Application.InchesToPoints(0.25)
      .RightMargin = Application.InchesToPoints(0.25)
      .TopMargin = Application.InchesToPoints(0.25)
      .BottomMargin = Application.InchesToPoints(0.1)
      .HeaderMargin = Application.InchesToPoints(0.1)
      .FooterMargin = Application.InchesToPoints(0.05)
      .CenterHorizontally = True
      .CenterVertically = True
      .Orientation = xlPortrait
'      .Orientation = xlLandscape
      .BlackAndWhite = False
      .Zoom = 50
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview

'
' Print Second Part
'
     With ActiveSheet.PageSetup
        .Orientation = xlPortrait
        .PrintTitleRows = ""
        .PrintTitleColumns = ""
        .PrintArea = "$U$1:$Z$8"
        .Zoom = 70
     End With
     ActiveWindow.SelectedSheets.PrintOut Copies:=1
'    ActiveSheet.PrintPreview

    ' Reset Page
    ActiveSheet.PageSetup.Orientation = xlPortrait

End Sub


Sub Print_FINDEV()

  Worksheets("FINDEV").Select

  With ActiveSheet.PageSetup

      .PrintArea = "$D$4:$I$117"
      .PrintTitleRows = "$1:$3"
      .PrintTitleColumns = "$A:$C"

      .LeftHeader = " "

      .LeftMargin = Application.InchesToPoints(0.25)
      .RightMargin = Application.InchesToPoints(0.25)
      .TopMargin = Application.InchesToPoints(0.25)
      .BottomMargin = Application.InchesToPoints(0.1)
      .HeaderMargin = Application.InchesToPoints(0.1)
      .FooterMargin = Application.InchesToPoints(0.05)
      .CenterHorizontally = True
      .CenterVertically = True
      .Orientation = xlPortrait
'      .Orientation = xlLandscape
      .BlackAndWhite = False
      .Zoom = 75
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview

End Sub



Sub Print_INDUS()
  Worksheets("INDUS").Select
  With ActiveSheet.PageSetup

      .PrintArea = "$E$7:$I$109"
      .PrintTitleRows = "$1:$6"
      .PrintTitleColumns = "$A:$D"

      .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlPortrait
     .BlackAndWhite = False
     .Zoom = 65
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview
End Sub


Sub Print_INDUS2()
  Worksheets("INDUS").Select
  With ActiveSheet.PageSetup

      .PrintArea = "$M$1:$Y$9"
      .PrintTitleRows = ""
      .PrintTitleColumns = ""
     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlLandscape
     .BlackAndWhite = False
     .Zoom = 100
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview
End Sub

Sub Print_INDUS3()
  Worksheets("INDUS").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$AO$108:$BB$134"
     .PrintTitleRows = ""
     .PrintTitleColumns = ""

     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlLandscape
     .BlackAndWhite = False
     .Zoom = 100
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview
End Sub

Sub Print_CountryRisk()

  Worksheets("COUNTRYRISK").Select

  With ActiveSheet.PageSetup

     .PrintTitleRows = "$1:$6"
     .PrintTitleColumns = "$A:$D"
      .PrintArea = "$E$7:$G$108"

      .LeftHeader = " "

      .LeftMargin = Application.InchesToPoints(0.25)
      .RightMargin = Application.InchesToPoints(0.25)
      .TopMargin = Application.InchesToPoints(0.25)
      .BottomMargin = Application.InchesToPoints(0.1)
      .HeaderMargin = Application.InchesToPoints(0.1)
      .FooterMargin = Application.InchesToPoints(0.05)
      .CenterHorizontally = True
      .CenterVertically = True
      .Orientation = xlPortrait
'      .Orientation = xlLandscape
      .BlackAndWhite = False
      .Zoom = 90
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview

End Sub



Sub Print_DOCUMENT()
  Worksheets("DOCUM6").Select
  With ActiveSheet.PageSetup

      .PrintArea = "$A$1:$G$23"
      .PrintTitleRows = ""
      .PrintTitleColumns = ""

      .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlPortrait
     .BlackAndWhite = False
     .Zoom = 100
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview
End Sub


Sub Print_GUARANTEES()
  Worksheets("GUAR3").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$A$8:$H$115"
     .PrintTitleRows = "$A$1:$A$7"
     .PrintTitleColumns = ""

     .LeftHeader = " "
     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlPortrait
     .BlackAndWhite = False
     .Zoom = 70
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview
End Sub

Sub Print_COLLATERAL()
  Worksheets("COLL4").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$A$1:$G$46"
     .PrintTitleRows = ""
     .PrintTitleColumns = ""

     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlPortrait
     .BlackAndWhite = False
     .Zoom = 90
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1
' ActiveSheet.PrintPreview
End Sub

Sub Print_PURPOSE()
  Worksheets("PURPOSE").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$A$1:$G$30"
     .PrintTitleRows = ""
     .PrintTitleColumns = ""

     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlLandscape
     .BlackAndWhite = False
     .Zoom = 100
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1 '
' ActiveSheet.PrintPreview
End Sub


Sub Print_TENOR()
  Worksheets("TENOR").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$A$1:$O$29"
     .PrintTitleRows = ""
     .PrintTitleColumns = ""

     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlLandscape
     .BlackAndWhite = False
     .Zoom = 100
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1 '
' ActiveSheet.PrintPreview
End Sub

Sub Print_PORTFOLIO()
  Worksheets("PORTFOLIO").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$A$1:$G$30"
     .PrintTitleRows = ""
     .PrintTitleColumns = ""

     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlLandscape
     .BlackAndWhite = False
     .Zoom = 100
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1 '
' ActiveSheet.PrintPreview
End Sub


Sub Print_WEIGHTS()
  Worksheets("Weights").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$B$1:$H$55"
     .PrintTitleRows = ""
     .PrintTitleColumns = ""

     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlPortrait
     .BlackAndWhite = False
     .Zoom = 90
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1 '
' ActiveSheet.PrintPreview
End Sub
Sub Print_SICCodes()
  Worksheets("SICCodes").Select
  With ActiveSheet.PageSetup

     .PrintArea = "$A$1:$H$49"
     .PrintTitleRows = ""
     .PrintTitleColumns = ""

     .LeftHeader = " "

     .LeftMargin = Application.InchesToPoints(0.25)
     .RightMargin = Application.InchesToPoints(0.25)
     .TopMargin = Application.InchesToPoints(0.25)
     .BottomMargin = Application.InchesToPoints(0.1)
     .HeaderMargin = Application.InchesToPoints(0.1)
     .FooterMargin = Application.InchesToPoints(0.05)
     .CenterHorizontally = True
     .CenterVertically = True
     .Orientation = xlPortrait
     .BlackAndWhite = False
     .Zoom = 90
  End With
  ActiveWindow.SelectedSheets.PrintOut Copies:=1 '
' ActiveSheet.PrintPreview
End Sub


'
' Risk Rating Menu
'
Sub Set_RiskRatingMenu()

  ' Reset RiskRating "Risk" MenuItem
  Do While True
'    On Error Resume Next
     On Error GoTo ContinueCode
     MenuBars(xlWorksheet).Menus("Risk").Delete
  Loop

ContinueCode:
  On Error GoTo 0

  ' Show Correct MenuItems for RiskRating System
  Dim BAMenu As Menu


  '
  ' Risk Rating: Excel Menu
  '

  'Risk Title
  Set BAMenu = MenuBars(xlWorksheet).Menus.Add _
  (Caption:="Ris&k", _
  Before:="Help")

'Introduction
BAMenu.MenuItems.AddMenu _
   Caption:="Introduction"
BAMenu.MenuItems("Introduction").MenuItems.Add _
   Caption:="Risk Grading", _
   OnAction:="Goto_Intro"

'Run Risk Rating System
BAMenu.MenuItems.AddMenu _
  Caption:="Run Risk Rating System"
BAMenu.MenuItems("Run Risk Rating System").MenuItems.Add _
  Caption:="Start New Rating System", _
  OnAction:="Get_NewRating"
BAMenu.MenuItems("Run Risk Rating System").MenuItems.Add _
  Caption:="Update Current Rating", _
  OnAction:="Get_CurrentRating"
BAMenu.MenuItems("Run Risk Rating System").MenuItems.Add _
  Caption:="Start Tutorial Rating", _
  OnAction:="Get_TutorialResponses"


'Obligor Financial Measures
BAMenu.MenuItems.AddMenu _
  Caption:="Obligor Financial Measures"
BAMenu.MenuItems("Obligor Financial Measures").MenuItems.Add _
  Caption:="Worksheet", _
  OnAction:="Goto_OFMWS"
BAMenu.MenuItems("Obligor Financial Measures").MenuItems.Add _
  Caption:="OFM Weights", _
  OnAction:="Goto_OFMWT"
BAMenu.MenuItems("Obligor Financial Measures").MenuItems.Add _
  Caption:="Examples", _
  OnAction:="Goto_OFMEX"

'Financial Developments
BAMenu.MenuItems.AddMenu _
   Caption:="Financial Developments"
BAMenu.MenuItems("Financial Developments").MenuItems.Add _
   Caption:="Worksheet", _
   OnAction:="Goto_FinDev"

'Industry and Financial Measures
BAMenu.MenuItems.AddMenu _
   Caption:="Industry and Financial Measures"
BAMenu.MenuItems("Industry and Financial Measures").MenuItems.Add _
   Caption:="Worksheet", _
   OnAction:="Goto_Indus"
BAMenu.MenuItems("Industry and Financial Measures").MenuItems.Add _
   Caption:="Cumulative Weightings", _
  OnAction:="Goto_IEMCW"
BAMenu.MenuItems("Industry and Financial Measures").MenuItems.Add _
  Caption:="Industry/Position Grid", _
  OnAction:="Goto_IEMIP"
BAMenu.MenuItems("Industry and Financial Measures").MenuItems.Add _
  Caption:="Fed Reserve Audit Concerns", _
  OnAction:="Goto_IndFedRes"

'Country Risk
BAMenu.MenuItems.AddMenu _
  Caption:="Country Risk"
BAMenu.MenuItems("Country Risk").MenuItems.Add _
  Caption:="Worksheet", _
  OnAction:="Goto_CountryRisk"

'Documentation
BAMenu.MenuItems.AddMenu _
  Caption:="Documentation"
BAMenu.MenuItems("Documentation").MenuItems.Add _
  Caption:="Worksheet", _
  OnAction:="Goto_DWK"

'Guarantees
BAMenu.MenuItems.AddMenu _
  Caption:="Guarantees"
BAMenu.MenuItems("Guarantees").MenuItems.Add _
  Caption:="Worksheet", _
  OnAction:="Goto_GWK"

'Collateral
BAMenu.MenuItems.AddMenu _
  Caption:="Collateral"
BAMenu.MenuItems("Collateral").MenuItems.Add _
  Caption:="Worksheet", _
  OnAction:="Goto_CWK"

'Purpose
BAMenu.MenuItems.AddMenu _
  Caption:="Purpose"
BAMenu.MenuItems("Purpose").MenuItems.Add _
  Caption:="Worksheet", _
  OnAction:="Goto_PWK"

'Tenor
BAMenu.MenuItems.AddMenu _
   Caption:="Tenor"
BAMenu.MenuItems("Tenor").MenuItems.Add _
   Caption:="Worksheet", _
   OnAction:="Goto_TWK"

'Portfolio
BAMenu.MenuItems.AddMenu _
    Caption:="Portfolio"
  BAMenu.MenuItems("Portfolio").MenuItems.Add _
    Caption:="Worksheet", _
    OnAction:="Goto_Portfolio"

  'Summary
  BAMenu.MenuItems.AddMenu _
    Caption:="Summary"
  BAMenu.MenuItems("Summary").MenuItems.Add _
    Caption:="Worksheet", _
    OnAction:="Goto_Summary"

  'Verify Data Entry
  BAMenu.MenuItems.AddMenu _
    Caption:="Verify Data Entry"
  BAMenu.MenuItems("Verify Data Entry").MenuItems.Add _
    Caption:="Check for Missing Data", _
    OnAction:="Verify_DataEntry"

  'Print
  BAMenu.MenuItems.AddMenu _
     Caption:="Print"
  BAMenu.MenuItems("Print").MenuItems.Add _
     Caption:="Entire System", _
     OnAction:="Print_EntireSystem"
  BAMenu.MenuItems("Print").MenuItems.Add _
     Caption:="Summary", _
     OnAction:="Print_Summary"

End Sub
'
' Dialog Box
'
Sub Get_NewRating()
   Application.Goto Reference:="Intro"

  ' Confirm Overwrite
  CkStartNewRating = InputBox("This will Erase Current Inputs. Do You Want To Continue? (Y/N)")
  If UCase(CkStartNewRating) = "Y" Or UCase(CkStartNewRating) = "YES" Then
  Else: Exit Sub
  End If

  ' Use a Dialog box for data input

  ' Initialize Responses
  DialogSheets("GetInfo").EditBoxes("EnterName").Text = ""
  DialogSheets("GetInfo").EditBoxes("EnterCreditArea").Text = ""
  DialogSheets("GetInfo").EditBoxes("EnterDate").Text = ""
  DialogSheets("GetInfo").EditBoxes("EnterCompany").Text = ""
  DialogSheets("GetInfo").EditBoxes("EnterAddress").Text = ""
  DialogSheets("GetInfo").EditBoxes("EnterCityState").Text = ""
  DialogSheets("GetInfo").EditBoxes("EnterMaxExposure").Text = ""
DialogSheets("GetInfo").EditBoxes("EnterPreviousRisk").Text = ""
DialogSheets("GetInfo").EditBoxes("EnterPreviousDate").Text = ""
DialogSheets("GetInfo").EditBoxes("EnterPreviousRisk2").Text = ""
DialogSheets("GetInfo").EditBoxes("EnterPreviousDate2").Text = ""
DialogSheets("GetInfo").EditBoxes("EnterSIC").Text = ""
DialogSheets("GetInfo").EditBoxes("PublicDebtRating").Text = ""
DialogSheets("GetInfo").EditBoxes("ShadowDebtRating").Text = ""
DialogSheets("GetInfo").EditBoxes("SecondaryMktLiquidity").Text = ""
DialogSheets("GetInfo").EditBoxes("TotalDebt").Text = ""
DialogSheets("GetInfo").EditBoxes("InterestCoverage").Text = ""
DialogSheets("GetInfo").EditBoxes("EnterAudited").Text = ""
DialogSheets("GetInfo").EditBoxes("EnterAuditedDate").Text = ""

Range("SICCheck") = 0

' Facility Classification
' initialize Bridge
DialogSheets("GetInfo").CheckBoxes("CheckBoxBridge").Value = xlOn
DialogSheets("GetInfo").CheckBoxes("CheckBoxHLT").Value = xlOff

' Selected Industry
' initialize General, other become False by default
DialogSheets("GetInfo").OptionButtons("GeneralButton").Value = xlOn
DialogSheets("GetInfo").OptionButtons("UtilitiesButton").Value = xlOff
DialogSheets("GetInfo").OptionButtons("FinancialButton").Value = xlOff
DialogSheets("GetInfo").OptionButtons("ConstructionButton").Value = xlOff
DialogSheets("GetInfo").OptionButtons("WholesaleButton").Value = xlOff


' Selected DataSource
' initialize Audit
DialogSheets("GetInfo").OptionButtons("AuditDataButton").Value = xlOn
DialogSheets("GetInfo").OptionButtons("InterimDataButton").Value = xlOff
DialogSheets("GetInfo").OptionButtons("ProformaDataButton").Value = xlOff


' Facility Type
' initialize Senior
DialogSheets("GetInfo").OptionButtons("ButtonBoxSenior").Value = xlOn
DialogSheets("GetInfo").OptionButtons("ButtonBoxSubordinated").Value = xlOff

' Show Dialog Box to the screen
DBoxOK = DialogSheets("GetInfo").Show

If Range("SICCheck") = 1 Then
   Exit Sub
End If

If Not DBoxOK Then
   Exit Sub
End If
  ' Initialize all User Input to Zero
  InitializeInputs

  ' Pass Responses to Worksheet
  PassDataToWorkSheet

End Sub
'
' UpDate Current Rating
'
Sub Get_CurrentRating()
   Application.Goto Reference:="Intro"

  ' Use a Dialog box for data input

  ' Initialize Responses
  DialogSheets("GetInfo").EditBoxes("EnterName").Text = Range("SelectedName")
  DialogSheets("GetInfo").EditBoxes("EnterCreditArea").Text = Range("SelectedCreditArea")
  DialogSheets("GetInfo").EditBoxes("EnterDate").Text = Range("SelectedDate")
  DialogSheets("GetInfo").EditBoxes("EnterCompany").Text = Range("SelectedCompany")
  DialogSheets("GetInfo").EditBoxes("EnterAddress").Text = Range("SelectedAddress")
  DialogSheets("GetInfo").EditBoxes("EnterCityState").Text = Range("SelectedCityState")
  DialogSheets("GetInfo").EditBoxes("EnterMaxExposure").Text = Range("SelectedMaxExposure")
  DialogSheets("GetInfo").EditBoxes("EnterPreviousRisk").Text = Range("SelectedPreviousRisk")
  DialogSheets("GetInfo").EditBoxes("EnterPreviousDate").Text = Range("SelectedPreviousDate")
  DialogSheets("GetInfo").EditBoxes("EnterPreviousRisk2").Text = Range("SelectedPreviousRisk2")
  DialogSheets("GetInfo").EditBoxes("EnterPreviousDate2").Text = Range("SelectedPreviousDate2")
  DialogSheets("GetInfo").EditBoxes("EnterSIC").Text = Range("SelectedSIC")
  DialogSheets("GetInfo").EditBoxes("PublicDebtRating").Text = Range("SelectedSP")
  DialogSheets("GetInfo").EditBoxes("ShadowDebtRating").Text = Range("SelectedShadow")
  DialogSheets("GetInfo").EditBoxes("SecondaryMktLiquidity").Text = Range("SelectedSecondary")
  DialogSheets("GetInfo").EditBoxes("TotalDebt").Text = Range("SelectedEBITDA")
  DialogSheets("GetInfo").EditBoxes("InterestCoverage").Text = Range("SelectedInterest")
  DialogSheets("GetInfo").EditBoxes("EnterAudited").Text = Range("SelectedAuditYN")
  DialogSheets("GetInfo").EditBoxes("EnterAuditedDate").Text = Range("SelectedAuditDate")

  Range("SICCheck") = 0

  ' Facility Classification

  If Range("SelectedBridge") = 1 Then
     DialogSheets("GetInfo").CheckBoxes("CheckBoxBridge").Value = xlOn
  Else
     DialogSheets("GetInfo").CheckBoxes("CheckBoxBridge").Value = xlOff
  End If

  If Range("SelectedHLT") = 1 Then
     DialogSheets("GetInfo").CheckBoxes("CheckBoxHLT").Value = xlOn
  Else
     DialogSheets("GetInfo").CheckBoxes("CheckBoxHLT").Value = xlOff
  End If
' Selected Industry
If Range("SelectedGeneral") = 1 Then
   DialogSheets("GetInfo").OptionButtons("GeneralButton").Value = xlOn
Else
   If Range("SelectedUtilities") = 1 Then
      DialogSheets("GetInfo").OptionButtons("UtilitiesButton").Value = xlOn
   Else
      If Range("SelectedFinancial") = 1 Then
         DialogSheets("GetInfo").OptionButtons("FinancialButton").Value = xlOn
      Else
         If Range("SelectedConstruction") = 1 Then
            DialogSheets("GetInfo").OptionButtons("ConstructionButton").Value = xlOn
         Else
            DialogSheets("GetInfo").OptionButtons("WholesaleButton").Value = xlOn
         End If
      End If
   End If
End If


' Selected DataSource
If Range("SelectedAuditedData") = 1 Then
   DialogSheets("GetInfo").OptionButtons("AuditDataButton").Value = xlOn
Else
   If Range("SelectedInterimData") = 1 Then
      DialogSheets("GetInfo").OptionButtons("InterimDataButton").Value = xlOn
   Else
      DialogSheets("GetInfo").OptionButtons("ProformaDataButton").Value = xlOn
   End If
End If


' Facility Type
 If Range("SelectedSenior") = 1 Then
    DialogSheets("GetInfo").OptionButtons("ButtonBoxSenior").Value = xlOn
    DialogSheets("GetInfo").OptionButtons("ButtonBoxSubordinated").Value = xlOff
 Else
    DialogSheets("GetInfo").OptionButtons("ButtonBoxSubordinated").Value = xlOn
    DialogSheets("GetInfo").OptionButtons("ButtonBoxSenior").Value = xlOff
 End If



' Show Dialog Box to the screen
DBoxOK = DialogSheets("GetInfo").Show

If Range("SICCheck") = 1 Then
   Exit Sub
End If

If Not DBoxOK Then
   Exit Sub
  End If

  ' Pass Data To Worksheet
  PassDataToWorkSheet

End Sub
'
' Initialize with Tutorial Responses
'
Sub Get_TutorialResponses()

  Worksheets("Verification").Select
  Range("TutorialResponses").Copy
  Range("CurrentResponses").Select
  ActiveSheet.Paste
  Application.CutCopyMode = False
  ActiveCell.Select

  ' Initialize all User Input to Zero
  InitializeInputs

  ' Read in Current Responses from Spreadsheet
  Get_CurrentRating

End Sub
'
' Copy Responses to Worksheet
'
Sub PassDataToWorkSheet()

  ' Pass Responses to the worksheet
  Range("SelectedName").Value = DialogSheets("GetInfo").EditBoxes("EnterName").Text
  Range("SelectedCreditArea").Value = DialogSheets("GetInfo").EditBoxes("EnterCreditArea").Text
  Range("SelectedDate").Value = DialogSheets("GetInfo").EditBoxes("EnterDate").Text
  Range("SelectedCompany").Value = DialogSheets("GetInfo").EditBoxes("EnterCompany").Text
  Range("SelectedAddress").Value = DialogSheets("GetInfo").EditBoxes("EnterAddress").Text
  Range("SelectedCityState").Value = DialogSheets("GetInfo").EditBoxes("EnterCityState").Text
  Range("SelectedMaxExposure").Value = DialogSheets("GetInfo").EditBoxes("EnterMaxExposure").Text
  Range("SelectedPreviousRisk").Value = DialogSheets("GetInfo").EditBoxes("EnterPreviousRisk").Text
  Range("SelectedPreviousDate").Value = DialogSheets("GetInfo").EditBoxes("EnterPreviousDate").Text
  Range("SelectedPreviousRisk2").Value = DialogSheets("GetInfo").EditBoxes("EnterPreviousRisk2").Text
  Range("SelectedPreviousDate2").Value = DialogSheets("GetInfo").EditBoxes("EnterPreviousDate2").Text
  Range("SelectedSIC").Value = DialogSheets("GetInfo").EditBoxes("EnterSIC").Text
  Range("SelectedSP").Value = DialogSheets("GetInfo").EditBoxes("PublicDebtRating").Text
  Range("SelectedShadow").Value = DialogSheets("GetInfo").EditBoxes("ShadowDebtRating").Text
  Range("SelectedSecondary").Value = DialogSheets("GetInfo").EditBoxes("SecondaryMktLiquidity").Text
  Range("SelectedEBITDA").Value = DialogSheets("GetInfo").EditBoxes("TotalDebt").Text
  Range("SelectedInterest").Value = DialogSheets("GetInfo").EditBoxes("InterestCoverage").Text
  Range("SelectedAuditYN").Value = DialogSheets("GetInfo").EditBoxes("EnterAudited").Text
  Range("SelectedAuditDate").Value = DialogSheets("GetInfo").EditBoxes("EnterAuditedDate").Text
' Guarantees and Collateral
'
Select Case DialogSheets("GetInfo").CheckBoxes("EnterGuaranteeBox")
   Case xlOn
     Range("GuaranteesSheet").Value = "1"
   Case xlOff
     Range("GuaranteesSheet").Value = "0"
End Select

Select Case DialogSheets("GetInfo").CheckBoxes("EnterCollateralBox")
    Case xlOn
      Range("CollateralSheet").Value = 1
    Case xlOff
      Range("CollateralSheet").Value = 0
End Select

If Range("GuaranteesSheet") = 1 Then
  Sheets("GUAR3").Visible = True
  Range("GuaranteesRow").EntireRow.Hidden = False
  Range("GuaranteesDocumentationRow").EntireRow.Hidden = False
Else
  Sheets("GUAR3").Visible = False
  Range("GuaranteesRow").EntireRow.Hidden = True
  Range("GuaranteesDocumentationRow").EntireRow.Hidden = True
End If

If Range("CollateralSheet") = 1 Then
  Sheets("COLL4").Visible = True
  Range("CollateralRow").EntireRow.Hidden = False
Else
  Sheets("COLL4").Visible = False
  Range("CollateralRow").EntireRow.Hidden = True
End If

' Facility Classification
Select Case DialogSheets("GetInfo").CheckBoxes("CheckBoxBridge")
     Case xlOn
         Range("SelectedBridge").Value = 1
     Case xlOff
         Range("SelectedBridge").Value = 0
End Select

Select Case DialogSheets("GetInfo").CheckBoxes("CheckBoxHLT")
    Case xlOn
       Range("SelectedHLT").Value = 1
    Case xlOff
       Range("SelectedHLT").Value = 0
End Select


' Facility Type
' Senior
Select Case DialogSheets("GetInfo").OptionButtons("ButtonBoxSenior")
 Case xlOn
   Range("SelectedSenior") = 1
 Case xlOff
   Range("SelectedSenior") = 0
End Select

' Subordinated
Select Case DialogSheets("GetInfo").OptionButtons("ButtonBoxSubordinated")
   Case xlOn
    Range("SelectedSubordinated") = 1
   Case xlOff
    Range("SelectedSubordinated") = 0
End Select


' Selected Industry

' General Corporate
Select Case DialogSheets("GetInfo").OptionButtons("GeneralButton")
  Case xlOn
   Range("SelectedGeneral") = 1
   Range("SelectedIndustry") = "General Corporate"
  Case xlOff
   Range("SelectedGeneral") = 0
End Select

' Utilities/Transportation/Telecommunication
Select Case DialogSheets("GetInfo").OptionButtons("UtilitiesButton")
   Case xlOn
    Range("SelectedUtilities") = 1
    Range("SelectedIndustry") = "Utilities/Trans/Tele"
   Case xlOff
    Range("SelectedUtilities") = 0
End Select

' Financial Institutions
Select Case DialogSheets("GetInfo").OptionButtons("FinancialButton")
   Case xlOn
    Range("SelectedFinancial") = 1
    Range("SelectedIndustry") = "Financial Institutions"
   Case xlOff
    Range("SelectedFinancial") = 0
End Select

' Construction/Engineering
Select Case DialogSheets("GetInfo").OptionButtons("ConstructionButton")
   Case xlOn
    Range("SelectedConstruction") = 1
    Range("SelectedIndustry") = "Construction/Engineering"
   Case xlOff
    Range("SelectedConstruction") = 0
End Select

' Wholesale Distributors/Trading
Select Case DialogSheets("GetInfo").OptionButtons("WholesaleButton")
  Case xlOn
   Range("SelectedWholesale") = 1
   Range("SelectedIndustry") = "Wholesale Distributors/Trading"
  Case xlOff
   Range("SelectedWholesale") = 0
End Select


' Write Selected Data Source

' Audited
Select Case DialogSheets("GetInfo").OptionButtons("AuditDataButton")
   Case xlOn
    Range("SelectedAuditedData") = 1
   Case xlOff
    Range("SelectedAuditedData") = 0
End Select

' Interim
Select Case DialogSheets("GetInfo").OptionButtons("InterimDataButton")
   Case xlOn
    Range("SelectedInterimData") = 1
   Case xlOff
    Range("SelectedInterimData") = 0
End Select

' Proforma
Select Case DialogSheets("GetInfo").OptionButtons("ProformaDataButton")
   Case xlOn
    Range("SelectedProformaData") = 1
   Case xlOff
    Range("SelectedProformaData") = 0
End Select

' Erase any previously entered override reasons
Range("EnterReason_ContingenciesOverride") = ""
Range("EnterReason_FinancialReportingOverride") = ""
Range("EnterReason_IndustrySegmentOverride") = ""
Range("EnterReason_IndustryPositionOverride") = ""
Range("EnterReason_CountryRiskOverride") = ""
Range("EnterReason_CollateralOverride") = ""


' Copy the Correct Industry Weights and Description to the Selected OFM page

If Range("SelectedGeneral") = 1 Then
   Range("Basic_Weights").Copy
   Application.Goto Reference:="Weights"
  Range("Weights").Select
  ActiveSheet.Paste
  'Range("MainDescription").Copy
  'Application.Goto Reference:="OFMDescription"
  'Range("OFMDescription").Select
  'ActiveSheet.Paste
Else
  If Range("SelectedUtilities") = 1 Then
     Range("CAPGD_Weights").Copy
     Application.Goto Reference:="Weights"
     Range("Weights").Select
     ActiveSheet.Paste
     'Range("MainDescription").Copy
     'Application.Goto Reference:="OFMDescription"
     'Range("OFMDescription").Select
     'ActiveSheet.Paste
  Else
     If Range("SelectedFinancial") = 1 Then
        Range("Trans_Weights").Copy
        Application.Goto Reference:="Weights"
        Range("Weights").Select
        ActiveSheet.Paste
        'Range("FinanceDescription").Copy
        'Application.Goto Reference:="OFMDescription"
        'Range("OFMDescription").Select
        'ActiveSheet.Paste
     Else
        If Range("SelectedConstruction") = 1 Then
           Range("Util_Weights").Copy
           Application.Goto Reference:="Weights"
           Range("Weights").Select
           ActiveSheet.Paste
           'Range("MainDescription").Copy
           'Application.Goto Reference:="OFMDescription"
           'Range("OFMDescription").Select
           'ActiveSheet.Paste
        Else
           If Range("SelectedWholesale") = 1 Then
              Range("Cycle_Weights").Copy
              Application.Goto Reference:="Weights"
              Range("Weights").Select
              ActiveSheet.Paste
              'Range("MainDescription").Copy
              'Application.Goto Reference:="OFMDescription"
              'Range("OFMDescription").Select
              'ActiveSheet.Paste
           End If
        End If
     End If
  End If
End If
Application.CutCopyMode = False
 'Open_Link

 ' Freeze Columns
 Range("E7").Select
 ActiveWindow.FreezePanes = True

End Sub

'
' Initialize User Inputs
'
Sub InitializeInputs()
    Range("Cash_Input").ClearContents
    Range("Debt_Input").ClearContents
    Range("Asset_Input").ClearContents
    Range("Value_Input").ClearContents
    Range("Contingencies_Input").ClearContents
    Range("Contingencies_Override").ClearContents
    Range("Financial_Input").ClearContents
    Range("Financial_Override").ClearContents
    Range("Management_Input").ClearContents
    Range("FINDEV_Input").ClearContents
    Range("FINDEV_Override").ClearContents
    Range("IndustrySegment_Input").ClearContents
    Range("IndustryPosition_Input").ClearContents
    Range("IndustrySegment_Override").ClearContents
    Range("INDUS_Override").ClearContents
    Range("CountryRisk_Input").ClearContents
    Range("CountryRisk_Override").ClearContents
    Range("Documentation_Input").ClearContents
    Range("GuarantorsGrade_Input").ClearContents
    Range("GuarantorPercent_Input").ClearContents
    Range("Guarantees_Input").ClearContents
    Range("GuaranteesDocumentation_Input").ClearContents
    Range("Collateral_Input").ClearContents
    Range("Collateral_Override").ClearContents
    Range("Purpose_Input").ClearContents
    Range("Tenor_Input").ClearContents
    Range("PORTFOLIO").ClearContents
    Range("OtherAdj_Input").ClearContents
    Range("KMV_Default").ClearContents
End Sub
Contingencies Credit Rating")




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untry Risk Rating")

								
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