MIRA
INFORM REPORT
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Report Date : |
23.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MAINTENANCE PLUS |
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Registered Office : |
Route Nationale No 5, Mohamadia, Algiers |
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Country : |
Algeria |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
001659/B01 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Truck maintenance. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
AD 15,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
MAINTENANCE PLUS
ADDRESS
Street : Route Nationale No 5
Area : Mohamadia
Town : Algiers
Country : Algeria
Telephone :
(213 21) 525 009 / 525 010
Fax : (213 21) 523 070
E-Mail : a.benachir@hotmail.com
SENIOR COMPANY
PERSONNEL
Name Position
1. Abdelhamid
Benachir Managing Director
2. Said Kebir Financial Director
Total Employees
800
PAYMENTS
No complaints have been heard
regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for MEDIUM amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Algerian importers.
Opinion on maximum credit
: AD 15,000,000
Trade risk assessment : Normal
Opinion on the credit
figure of EURO 150,000 :
We consider the above
figure to be within the company's financial capabilities.
PRINCIPAL BANKERS
NAME :
BANQUE NATIONALE D'ALGERIE
Branch :
8, Boulevard Ernesto Che Guevara
Town :
Algiers
Telephone : (213 21) 713 519 / 714 759
Fax :
(213 21) 712 424
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : AD 750,000,000 - 2006 - exact
Net Profit :
not given but stated to be profitable
LEGAL STATUS AND
HISTORY
Date Started : 2002
C.R. No. : 001659/B01
Capital : AD 200,000,000
Societe par Actions
(joint stock company) with the following sole shareholder :
Societe Nationale Des
Transports Routiers (SNTR)
100 %
Rue des Freres Bouadou
Birmandreis
Algiers
Telephone: (213 2) 540
600 / 851 651
Fax : (213 2) 540 359 / 540 535 / 851 650
ACTIVITIES
The Company is involved
in the following activities :
Truck maintenance.
Imports from France,
Belgium and Germany.
FACILITIES
The Company has the
following facilities :
Owned premises comprising
offices and garage facilities located at the heading address and 12 sites at
Algiers, Oran, Tougoort, Annaba and Hassi Messaoud.
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%)