MIRA INFORM REPORT

 

 

Report Date :

16.08.2007

 

IDENTIFICATION DETAILS

 

Name :

VERSSION S.A.

 

 

Registered Office :

Sarmiento 4034 (1197) Buenos Aires City, Argentine Republic

 

 

Country :

Argentina

 

 

Date of Incorporation :

15/10/1986

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacturer of bedspreads, tablecloths and bed sheets.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Registered Name   

 

VERSSION S.A.


CUIT: 30-61494150-9

 

 

Summary      

 

INCORPORATED IN 1986. REFUSAL TO SUPPLY INFORMATION. FOR CREDIT TREATMENT TAKE APPROPRIATE GUARANTEES.

 

 

Operations       

 

TEXTILE INDUSTRY

 

 

Legal Structure   

 

Business type:       Public Limited Company
Incorporated:         1986
Registered:           15/10/1986
Register #:            1597419
Duration:               99 years
End of fiscal year: July 31st

 

 

Contact       

 

Accountants Marcelo Dolotowicz and Gabriel Montero

Legal and Operative address: Sarmiento 4034 (1197) Buenos Aires City, Argentine Republic.

Phone: (54-11) 4983-3261/3611/6116

Factory: Juramento 685 Barrio El Cardenal, La Rioja, La Rioja Province, Argentine Republic.

 

 

 

 

 

 

Partners     

 

President:               SASSON JOSE NORBERTO
Alternate Director:   SASSON SEBASTIAN RAMIRO

Social signature use: In the charge of the President and Vice-president.

 

 

Personal Information   

 

SASSON JOSE NORBERTO
Argentinian, married, born on 01/08/1945, DI. 7.762.980 (CUIT. 20-07762980-8), with address in José Bonifacio 1728 P.5º, Buenos Aires City.

He is registered as Alternate Director of JAS DISEÑO S.A.

 

 

History   

 

The company was incorporated and registered in Buenos Aires City in 1986 as beginner of activities in the textile industry.

It doesn't register changes on its name or business type, maintaining its original legal address and offices in the mentioned address.

 

 

Economic-Financial Position   

 

It has been mentioned that due to regulations of the company's directors, financial information is not supplied to third parties.

At official level it has not been possible to obtain up-to-date financial figures, either, since up to now it didn't present its last balance sheet.

 

 

Assets     

 

REAL ESTATE:
------------
It is owner of the properties located in Sarmiento 4034 Buenos Aires City and Juramento 685 Barrio El Cardenal of La Rioja (City and Province).

No title deeds were shown.

It isn't known if it owns vehicles.

 

 

Evolution and Results       

 

The company operates in the textile industry with the manufacture of bedspreads, tablecloths and bed sheets.

TRADEMARK:
----------
ARREDO

FOREIGN TRADE:
--------------
Some of its products are exported to Uruguay and it carries out imports (raw material and inputs) from Pakistan, India, Brail, China, Paraguay and Uruguay.

In the last twelve months it has carried out imports for a total value of US$ 5.665.113 from the following countries:

China:       2.049.394
Pakistan:   1.361.967
Paraguay:    893.361
Others:      1.360.391

MAIN NATIONAL SUPPLIERS:
------------------------
DIA S.A.
PELUFFO S.A.

* 250 EMPLOYEES

 

 

Branches     

 

Last known:

* SHOPPING UNICENTER
* SHOPPING ALTO PALERMO
* SHOPPING PATIO BULLRICH
* SHOPPING GALERIAS PACIFICO
* SHOPPING PASEO ALCORTA
* SHOPPING LOMAS CENTER
* SHOPPING DEL PARQUE
* SHOPPING SPINETTO
* SHOPPING PLAZA OESTE
* SHOPPING AUCHAN
* SHOPPING ALTO AVELLANEDA
* MIAMI SHOPPING CENTER (Punta del Este - Uruguay)
* Santa Fe esq. Pueyrredon - Cap.Federal
* La Pampa 2376 - Cap.Federal
* Acoyte 65 Cap.Federal
* San Martin 599 "Galeria Pilar Plaza" Pilar, Buenos Aires Province
* Paseo el Patio - Junin (Buenos Aires Province)
* Peatonal Cordoba 1001 - Rosario (Santa Fe Province)
* Belgrano 2261 - Mar del Plata (Buenos Aires Province)
* Rivadavia 2468 - Mar del Plata (Buenos Aires Province)
* Shopping Nuevo Centro - Cordoba Province
* Salta 109-11 Cap.Federal
* Medrano 458-60 Cap.Federal
* Medrano 490 Cap.Federal
* Parque Brown Factory Outlet
* Belgrano 183 - San Isidro (Buenos Aires Province)
* Quilmes Factory - Quilmes (Buenos Aires Province)

 

 

Payment Record and Credit Risk      

 

BANKS:
------
BANCO CREDICOOP COOP.LTDO.     Branch: 40
BANCO DE GALICIA Y BS.AS.              Branch: Almagro
BBVA BCO.FRANCES S.A.                   Branch: Abasto
CITIBANK N.A.                                       Principal Office
BAMNCO SUPERVIELLE                      Branch: Once

CREDIT RISK:
------------
April/2007 (last registered):

AMERICAN EXPRESS:   $  102.400- Situation 1

Situation 1: Normal Fulfillment.

INSURANCE:
----------
CONSOLIDAR S.A.

 

 

Concept       

 

Nowadays the company has a normal fulfillment with its commercial and bank commitments.

 

 

Final Opinion    

 

Bearing in mind the lack of financial information, for credit treatment with this company we suggest operating by moderated amounts and takin appropriate guarantees.

* FOR CREDIT TREATMENT TAKE APPROPRIATE GUARANTEES

 

 

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