MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
DANIEL DESALEGN MENGISTU EXPORTER |
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Registered Office : |
P. O. Box 794/1029, Addis Ababa |
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Country : |
Ethiopia |
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Date of Incorporation : |
2004 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Believed to be trading in general merchandise. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COmpany NAME
DANIEL DESALEGN MENGISTU
EXPORTER
ADDRESS
P.O. Box :
794/1029
Town : Addis Ababa
Country : Ethiopia
Fax : (251 11) 662 6135
E-Mail : danieldesalegn@ethionet.et
SENIOR COMPANY
PERSONNEL
Name Position
Daniel Desalegn
Mengistu Managing Director
Total Employees
3 (administrative)
PAYMENTS
Current trade experience of
payments has not been traced.
The company has declined
to provide financial information or to reveal any details relative to the
extent of their operations.
Opinion on maximum credit
: In view of the above we have insufficient basis on which to speak for
unsecured credit and recommend dealing on fully secured terms for all
transactions pending fuller knowledge.
Trade risk assessment: No
classification
It is normal accepted
practice for international suppliers to deal on secured terms with Ethiopian importers.
PRINCIPAL BANKERS
Subject declined to name
its bankers.
FINANCIAL INFORMATION
Balance sheets are not
available and the subject interviewed declined to give any financial
information, which the company regards as strictly confidential.
LEGAL STATUS AND
HISTORY
Date Started : 2004 (not
confirmed)
Capital : not given
Subject is believed to be
a Proprietorship owned by Daniel Desalegn Mengistu.
ACTIVITIES
The Company is involved
in the following activities :
Believed to be trading in
general merchandise.
FACILITIES
The Company has the
following facilities :
Office in Addis Ababa.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)