MIRA
INFORM REPORT
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Report Date : |
02.05.2007 |
IDENTIFICATION
DETAILS
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Name : |
STRAFFEL SECURITIES LTD |
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Registered Office : |
No.126 Circular Road 1st Floor, Freetwon |
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Country : |
Sierra Leone |
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Date of Incorporation : |
2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Exporters of rough diamonds and gold. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COmpany NAME
STRAFFEL SECURITIES LTD
ADDRESS
Street : No.126 Circular Road 1st Floor
Town : Freetwon
Country : Sierra Leone
Telephone :
(232 33) 842 125 / 300 255 / 800 061 (mobiles)
E-Mail : straffel_securities@yahoo.com
SENIOR COMPANY
PERSONNEL
Name Position
1. Felix Baah Managing Director
2. Richard Owiredu Director
Total Employees
13
PAYMENTS
No experience of payments
is available.
Subject was established
in 2006 and commenced operations in January 2007.
Opinion on maximum credit
: As the company has recently started trading and has no financial or payment
track record, we recommend dealing on cash or prepaid basis.
Trade risk assessment :
High
It is normal accepted
practice for international suppliers to deal on secured terms with Sierra Leone
importers.
PRINCIPAL BANKERS
NAME :
Guaranty Trust Bank (Sierra Leone) Ltd
Branch :
Main Branch
Building : Sparta Building
Street :
12 Wilberforce Street, Deep Water Quay
Area :
Cline Town
Town :
Freetown
Telephone : (232 22) 228 439 / 220 245 / 220 248
Fax :
(232 22) 228 318
The company also has an
account with Ecobank Sierra Leone Ltd.
FINANCIAL INFORMATION
As the Company has only
recently started trading, relevant financial information is not available.
LEGAL STATUS AND
HISTORY
Date Started : 2006
History : The company was incorporated in Sierra Leone in
2006 and commenced operations in 2007.
Capital : not given
Limited Liability Company
with the following shareholders :
1. Felix Baah )
) 100%
2. Richard Owiredu )
ACTIVITIES
The Company is involved
in the following activities :
Exporters of rough
diamonds and gold.
Subject acquires minerals
from local producers.
Exports to Ghana and them
shipped to Switzerland.
FACILITIES
The Company has the
following facilities :
Office premises located at
the heading address as well as storage facilities located at the Freetown port.
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%)