MIRA
INFORM REPORT
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Report Date : |
30.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TIDEG KIROSS GENERAL
EXPORTER |
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Registered Office : |
P. O Box No. 18009, |
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Country : |
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Date of Incorporation : |
14/8/1998 |
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Com. Reg. No.: |
16781 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Foreign Company
Representatives, Commission Agents, Importers & Distributors of goods and
Services |
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 : |
USD 35,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
TIDEG KIROSS GENERAL EXPORTER
Principal Address
P. O Box No. 18009,
Telephone: +251-11-66731738
Fax: +251-11- 6637618
Email: tideg@ethio.net.et
Internet: None
Established
14/8/1998
Registration
No. 16781
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
10 Full time 80 casuals
Office &
Factories
Head offices Bolle Kifle Ketema, K. 03 House No. 115
Branches
Company Profile
Paid in Capital ETB. 10,000
Subscribed Capital ETB. 10,000
Shareholders
Name Position Amount
Ratio
Mr. Gebreslassie
Kidane Director
Mr. Tideg
Kiross Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 35,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Gebreslassie Kidane |
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Work Experience |
10 years in this line of business |
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Remarks |
Top Decision Maker |
Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
Business Activities
foreign company
representatives, Commission Agents, importers & distributors of goods and
Services
Terms of payment
Buying terms 70%
in cash, 30% on LC, TT
Selling terms 50% in cash, 50% on credit
Suppliers
Various
Customers
Local agencies, stores and
outlets
Recent Sales
ETB. 9,000,000 (2006)
Exports
None
Export Ratio 20.0%
Import Ratio 60.0%
Domestic Market Share 52.0%
Banking relationship
Main Banks ECB Bank
Credit Check of
Subject, President & CEO
(as of report date)
Payment Morale : In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING : Financial situation is
average.
COMMENTS
Maximum credit we recommend is USD 35,000 outstanding at any one time.
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. |
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%)