MIRA INFORM REPORT

 

 

Report Date :

11.08.2007

 

IDENTIFICATION DETAILS

 

Name :

PROCTER & GAMBLE INTERAMERICAS LLC

 

 

Registered Office :

Av.Leandro N.Alem 1110, Piso 13º, Buenos Aires City

 

 

Country :

Argentina

 

 

Date of Incorporation :

30/12/1952

 

 

Com. Reg. No.:

296133

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading Company

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NR

 

RATING

STATUS

PROPOSED CREDIT LINE

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

Status :

Undetermined

 

Registered Name   

 

PROCTER & GAMBLE INTERAMERICAS LLC (Argentine Branch).


CUIT: 30-53839114-6

 

 

Summary      

 

IT REFUSES TO SUPPLY INFORMATION ABOUT ITS ACTIVITIES. DATA WAS OBTAINED FROM OTHER SOURCES OF CONSULTATION. IN SEPTEMBER/2004 THESE BUSINESSES WERE CONTINUED BY PROCTER & GAMBLE ARGENTINA S.C. - THE COMPANY CHANGED ITS LEGAL ADDRESS AND IS CURRENTLY INACTIVE.

 

 

Operations       

 

Business type:       Commercial Company
Incorporated:         30/12/1952
Registered:           18/05/1953
Register #:            296133
Duration:               Until 18/05/2052
End of fiscal year:  June 30th

 

 

Legal Structure   

 

Business type:       Trading Company
Incorporated:          30/12/1952
Registered:            18/05/1953
Register #:             296133
Duration:                18/05/2052
End of fiscal year:  June 30th

 

 

Contact       

 

Current Legal Address: Av.Leandro N.Alem 1110, Piso 13º, Buenos Aires City, Argentina.

Phone: (54-011) 4323-0600/4348-0125

 

 

Partners     

 

Legal Representative: ALVES DE CARVALHO JUNIOR ALBERTO

Mr Alves De Carvalho, as Manager, is in charge of the management and administration of the company, with the use of the social signature.

 

 

History   

 

These businesses were started by RICHARDSON VICKS INTERAMERICAS INC. (Argentine Branch) by mid-1953.

This company operated without changes until 1974, date in which it was decided to stopped its productive and commercial activities, without being dissolved.

During 1990 and once it changed its original name to PROCTER & GAMBLE INTERAMERICAS LLC. (Argentine Branch), it started acquiring several important local companies, such as:

> ALEJANDRO LLAURO E HIJOS S.A.
> CIA.QUIMICA S.A. (members of the group Bunge y Born)
> SUFARGEN S.A.

Fits to highlight that on 17/08/2004, the Administrator of PROCTER & GAMBLE ARGENTINA S.C. accepted the offer of PROCTER & GAMBLE INTERAMERICAS LLC, ARGENTINE BRANCH. This consisted in sale and transfer of certain net assets, including the permanent investments in ALEJANDRO LLAURO E HIJOS S.A.I.C. and COMPAÑIA QUIMICA S.A., which was carried out on 01/09/2004, except the plant for the manufacture of pets' foods (IAMS Division) and the property in Pilar Plant, which were transferred in 10/12/2004.

Since by direct means it has not been possible to obtain information, it has been necessary to consult indirect sources of consultation, where we reaffirm that the above said is correct, because the company gave its businesses in September/2004 to PROCTER & GAMBLE ARGENTINA S.C.

Fits to highlight that the company changed its legal address to Av.Leandro N. Alem 1110, piso 13º, Buenos Aires City and designed as Legal Representative to Alberto Alves De Carvalho. All this was registered in the General Inspection of Jusitce on 31/7/2007.

It is known that the company transferred its activities but we don't know if it is dissolved and if it it continues operating with other activities or it is liquidated.

 

 

Economic-Financial Position   

 

Balance Sheet as of 31/12/2005, figures expressed in pesos.

To date, it didn't presented the Balance Sheet as of 31/12/2006 in the General Inspection of Justice.


 

ASSETS:  
-------  
    Cash and banks                               138.148  
    Other credits                                    968.943  
                                                          -------------  
    Current assets and total assets    1.107.091  
                                                          ========  
LIABILITIES:  
------------  
    Net Worth                                     1.107.091  
                                                         ========   
 
RESULTS:  
--------  
 
    Nets sales                                 109.691.091  
    Cost of sold merchandises         87.207.659  
                                                      -----------------  
    Gross profit                                22.483.432  
                                                      -----------------  
    Selling expenses                       18.551.350  
    Administrative expenses             3.826.281  
    Net financial results                    2.048.540  
    Other incomes (due to sale of  
    fixed assets)                              65.366.986  
                                                     -----------------  
    Result before incomes              67.521.327  
    Tax incomes                                   46.779  
                                                    -----------------  
    Profit of the period                   67.474.548  
                                                    ==========

 

 

Final Opinion    

 

What has been exposed hereby is all as regards this company, finishing in this way our investigations.

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions