Disclaimer

The rating tool assists businesses in helping them understand the fragilities they face. It does not address every potential risk scenario or address every risk factor which affects or may affect a business and is not meant to be, and should not be used as, a substitute for sound business judgement.

All users of our rating must consider results in the context of their specific business and business conditions and discuss the implications of those results and the steps to be taken based on those results, if necessary, with appropriate professional advisers. All users of our rating do so at their own risk.

Neither Universal Ratings nor any of its subsidiaries or affiliates make any representations or warranties, express or implied, regarding the completeness, accuracy or timeliness of any rating. It should not be assumed that any risk or risk level indicated by a rating will remain the same for any period of time and neither Universal Ratings nor any of its subsidiaries or affiliates undertake any obligation to correct or update its ratings.

Neither Universal Ratings nor any of its subsidiaries or affiliates assume any responsibility for any indirect, special or consequential damages that may result to any party from the use, misuse of ratings or reliance on its risk ratings or assessments, including but not limited to use contrary to national or international law, decisions taken with respect to third parties and the inability to conduct business.

The rating does not constitute advice regarding the value of any security and any results of rating should not be taken as investment advice or a recommendation to buy or sell any security or enter into or execute any type of business arrangement or investment. The result of a rating analysis may not be re-sold in any form or manner whatsoever.