MIRA
INFORM REPORT
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Report Date : |
23.05.2007 |
IDENTIFICATION DETAILS
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Name : |
OTTOMOTORES S.A. DE C.V. |
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Registered Office : |
Calzada San Lorenzo No
1150, Colonia Cerro De La Estrella, Mexico DF, CP 09860 |
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Country : |
Mexico |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.07.1950 |
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Legal Form : |
Stock Company of
Variable Capital |
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Line of Business : |
Manufacturing of
electric power generating plants. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : OTTOMOTORES S.A. DE C.V.
TAXPAYER REGISTRATION : RFC OTT0500720LZ7
OPERATING STATUS :
Active
MAIN ADDRESS :
Calzada San Lorenzo No 1150, Colonia Cerro de
la Estrella
CITY/PROVINCE/STATE :
Mexico DF, CP 09860
COUNTRY : MEXICO
TELEPHONE :
(5255)5624.5600
FAX : (5255)5426.5521
E - MAIL : info@ottomotores.com.mx
WEB SITE : www.ottomotores.com.mx
SUMMARY
Incorporation
: 1950
Operating Status :
Active
Last Capital
: Ps$2,002,950.= Pesos
Shareholders' Equity : Ps$117,483,352.= Pesos
(Al 31.03.2006)
Annual Sales
: 175,997,766.87 Pesos
Employees
: 400
QUALIFICATION
RATING : COMPANY REFUSED INFORMATION
PAYMENTS : NO FURTHER CREDIT EXPERIENCE AVAILABLE
LEGAL BACKGROUNDS
LEGAL STATUS :
Stock Company of Variable Capital
DATE OF INCORPORATION :
20JUL1950
REGISTERED IN :
Mexico DF
NOTARY OFFICE :
Juan José Correa Field
DURATION : 99 years
REGISTRATION
: Commercial Page
No19648.
INITIAL CAPITAL :
Ps$200.= Pesos
CURRENT PAID-IN CAPITAL : Ps$2,002,950.=
Pesos
LAST CAPITAL INCREASE :
Year 2005
SHAREHOLDERS' EQUITY :
Ps$117,483,352.= Pesos (As of 31.03.2006)
TYPE OF SHARES :
Nominatives
LISTED AT STOCK EXCHANGE : No
SHARE VALUE :
Ps$1.= Peso
CURRENT EXCHANGE RATE :
Ps$10.81 per 1.00 US Dollar
COMMENTS -
Subject's shareholder
structure was not specified.
HISTORY
Started operations as a joint
stock company.
In accordance to public
deed No. 69190 of date 08.08.1990, before Notary Lic. Ignacio Soto Borjas, the
company was coverted into a stock company of variable capital (variable capital
corporation).
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE
LANZ MULLER, JAN General Director
VAN KALMTHOUT, JAN Treasurer/General Mg.
FERNANDEZ, OSCAR Finance Manager
RELATED COMPANY(IES)
No related enterprises
and/or subsidiaries were found.
BUSINESS
MAIN ACTIVITY .-
Manufacturing of electric
power generating plants.
Registered trademark:
OTTOMOTORES.
SELLING TERRITORY : Nationwide service
EMPLOYEES : 400
FACILITIES .-
Area :
5,000 sqm
Floors
: 2
Equipment :
Adequate for the development of their
activities.
Condition :
Good. Premises are located in an industrial
area.
Use
: Legal domicile, main offices and plant.
FINANCIAL INFORMATION
We interviewed Mr. Oscar
Fernández, Finance Director, who claiming inside policies says he is not going
to provide any information about the company as long as the identity of the
Requester is not revealed first.
So as usual in these
cases report has been prepared with information obtained from outside sources,
where we also obtained the financial statements of this enterprise dated March
31st., 2006 (period: 3 months), latest available figures expressed in Pesos
(Ps$).
BALANCE
SHEET DATE : 31MAR2006
TYPE OF
BALANCE SHEET : Interim
BALANCE
SHEET OF : 3
months
CURRENCY : Pesos
EXCHANGE
RATE PER US$ : 11.15
ASSETS
CASH/BANKS : 4,114,662.21
RECEIVABLES : 213,339,664.73
INVENTORY : 99,103,229.91
OTHERS : 26,100,036.41
TOTAL
CURRENT : 342,657,593.26
FIXED : 31,841,087.50
OTHERS : 3,902,054.32
TOTAL
ASSETS : 378,400,735.08
LIABILITIES
TOTAL CURRENT :
260,044,453.40
OTHERS : 872,929.32
SHAREHOLDERS'
EQUITY :
CAPITAL : 2,002,950.00
RESERVES : 115,480,402.36
TOTAL
EQUITY : 117,483,352.36
TOTAL
LIABILITIES : 378,400,735.08
Continuación ... :
31MAR2006
SALES : 175,997,766.87
LIQUIDITY RATIO : 1.32 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 45.18% (Shareholders'equity/Current Liabilities)
WORKING CAPITAL :
82,613,139.86 (Current Assets
- Current Liabilities)
PROPERTIES OF THE COMPANY .-
Represented by:
- Machinery and
equipment: Cranes, cutters, folding equipment
- Welding equipment
- 45 vehicles (vans and
automobiles)
- Office equipment
etc.
INSURANCE .-
PAYMENTS RECORD
TRADE REFERENCES .-
COMMENTS
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Per inside policies,
regular suppliers of this enterprise do not provide references to third
parties.
LIST OF DOMESTIC SUPPLIERS .-
Suppliers
listed Alphabetically.
Supplier
DALE ELECTRIC OF GREAT
BRITAIN LTD
DISTRIBUIDORA ELECTRICA
UPR
ELECTROMECANICA NACIONAL
S.A.
FLEETGUARD NELSON MEXICO
S.A.
SCHENEIDER ELECTRIC
MEXICO
LAWSUITS ? .-
No lawsuits against
subject were found.
BANKING INFORMATION
BANKERS
Bank Account #
BANCO NACIONAL DE MEXICO
S.A. 430144-8
BBVA BANCOMER S.A. 0149938389
HSBC MEXICO S.A. 0159020776
Subject maintains
accounts with these banks, which would not provide references ander banking
privacy laws in the country.
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%)