MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRICITE D’ANJOUAN |
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Registered Office : |
BP 54 Mutsamudu Anjouan Anjouan Iles |
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Country : |
Comoros |
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Date of Incorporation : |
1979 |
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Com. Reg. No.: |
No. 28968 Comoros |
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Legal Form : |
Limited
Liability company, Limited by shares |
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Line of Business : |
Electricity
Generation and Distribution |
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 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
ELECTRICITE
D’ANJOUAN
Other Name
EDA
Principal Address
BP 54 Mutsamudu Anjouan Anjouan Iles Comoros
Telephone: +269-710168/
715168/ 713168
Fax: +269-716401
Established
1979
Registration
No. 28968 Comoros
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
1200
Office & Factories
Head offices Mutsamudu Anjouan Anjouan Iles Comoros
Branches None
Company Profile
Paid in Capital KMF. 1,000,000,000
Subscribed Capital KMF. 1,000,000,000
Shareholders
Name Position Amount
Ratio
Mr. Youssouf
Abdulmadid CEO
Mr. Mohamed Bacar Director
M. Boudouri Director
Government of
Comorros Shareholders 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 400,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr. Youssouf Abdulmadid
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Mohamed Bacar
Ž 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
Electricity Generation and Distribution
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on
credit
Suppliers
GE, Caterpillar Etc
Customers
Homes
& Companies (public in general)
Recent Sales
KMF. 20,500,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
30.0%
Domestic Market Share
40.0%
Banking relationship
Main Banks CFA 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 400,000 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%)