MIRA INFORM REPORT

 

 

Report Date :

01.09.2007

 

IDENTIFICATION DETAILS

 

Name :

TRACTORES Y MAQUINARIAS S.A.

 

 

Registered Office :

Luis Fanti 1051 (2300) Rafaela, Santa Fé Province, Argentine Republic

 

 

Country :

Argentina

 

 

Date of Incorporation :

01/04/2006

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engaged in the manufacture and commercialization of tractors in all the country.

 

 

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   

 

TRACTORES Y MAQUINARIAS S.A.

CUIT: 30-70721221-3

 

 

Summary      

 

FOLLOWER OF ACTIVITIES. INCORPORATED IN 2006. BALACE SHEET AS OF 30/06/2006: BALANCED ECONOMIC-FINANCIAL SITUATION WITH NEGATIVE RESULTS. IT DOESN'T REGISTER NEGATIVE. CREDIT TREATMENT: ACCEPTABLE.

 

 

Operations       

 

TRACTORS AND MACHINES
MANUFACTURE
COMMERCIALIZATION

 

 

Legal Structure   

 

Business type:       Limited Liability Company
Incorporated:          01/04/2006
Registered:            2006
End of fiscal year:  June 30th

 

 

Contact       

 

Accountant Pacheco

Legal and Operative address: Luis Fanti 1051 (2300) Rafaela, Santa Fé Province, Argentine Republic.

Phone: (54-03492) 451904

Registered Office: Reconquista 823 P.11º, Buenos Aires City, Argentine Republic.

 

 

 

 

 

Partners     

 

President:          BUTTELER RENE DANIEL
Vice-president:  PERALTA RAMOS JUAN

Social signature use: In the charge of both Directors.

 

 

History   

 

The company was incorporated on April 1st of 2006 as follower of activities, which were started in April/2000 by TRACTORES Y MAQUINARIAS SOCIEDAD DE RESPONSABILIDAD LIMITADA.

Its directors doesn't register other activities.

 

 

Economic-Financial Position   

 

Contact has been taken with the Accountant Pacheco, who supplied total figures of the Balance Sheet and P/L Statement as of 30/06/2006, which are expressed in Pesos:

ASSETS:
-------
Current Assets ....................................      3.014.289
Non-Current Assets ............................      1.667.861
                                                                   -------------
TOTAL ASSETS                                        4.682.150
                                                                   ========

LIABILITIES:
------------
Current Liabilities ..................................     1.991.099
Non-Current Liabilities ...........................       213.778
                                                                   --------------
TOTAL LIABILITIES                                   2.204.877

NET WORTH ..........................................  2.477.273
                                                                   -------------
TOTAL LIABILITIES + NET WORTH        4.682.150
                                                                  ========
P/L STATEMENT:
--------------
NET SALES                                    3.465.541
FINAL RESULT (LOSS)                   -183.214

 

 

 

 

 

Assets     

 

The company is owner of the property located in Reconquista 823 Piso 11º, Buenos Aires City, whereas the one at Luis Tanti 1051 Rafaela, Santa Fé Province is leased.

 

 

Commercial References Consulted       

 

BERTRACK S.A.
-------------
Monthly Credit: $ 150.000
Term of payment: 30-45 days
Fulfillment: Normal

GRAMMER S.A.
-----------
Monthly Credit: $ 150.000
Term of payment: 30-45 days
Fulfillment: Good.

 

 

Evolution and Results       

 

The company is engaged in the manufacture and commercialization of tractors in all the country.

FOREIGN TRADE :
--------------
Between April 27th and July 13th of 2007 it has carried out imports in accordance with the following details:

Total amount: US$ 72.245,30
From: La Plata Free Zone (Argentina) and Romania.
Dispatches: 67 Romania - 33 La Plata Free Zone

Up to now it doesn't operate in the export market.

MAIN NATIONAL SUPPLIERS:
------------------------
BERTRACK S.A.
GRAMMER S.A.
VENTURI S.A.

MAIN FOREGIN SUPPLIER:
----------------------
MOWON (BRAZIL)

* 26 EMPLOYEES

 

 

Payment Record and Credit Risk      

 

BANKS:
------
BANCO CREDICOOP COOP.LTDO.
BBVA BCO.FRANCES
BANCO COMAFI

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

COMAFI:             $   219.000 - Situation 1
CREDICOOP:     $       7.400 - Situation 1
                        ____________
Total                    $   227.300
                       ============

Situation 1: Normal Fulfillment.

INSURANCE:
----------
BARKLEY CIA.DE SEGUROS

 

 

Concept       

 

According to our consultations, the company complies in due time the commitments taken and has a favourable concept.

* CONCEPT AND FULFILLMENT: GOOD

 

 

Final Opinion    

 

Bearing in mind what has been exposed hereby, we consider feasible the credit treatment with this company by current amounts with the adoption of appropriate guarantees.

* FIT FOR CURRENT CREDITS

 

 

 

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