MIRA
INFORM REPORT
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Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
HERZEL GOETTA DIAMONDS |
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Registered Office : |
52 Bezalel Street, Diamond Exchange, Noam Bldg., RAMAT GAN 52521 |
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Country : |
Israel |
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Date of Incorporation : |
2003 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Traders, Importers, Marketers and Exporters of Diamonds |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
HERZEL GOETTA
DIAMONDS
Telephone 972 3 345 40 88; 575
71 36
Fax 972
3 752 18 48
52 Bezalel Street
Diamond Exchange,
Noam Bldg.
RAMAT GAN 52521
ISRAEL
HISTORY
A sole proprietorship, established in 2003.
Operating under License Dealer No. 24467326.
OWNERSHIP
Herzel Goetta.
GENERAL MANAGER
Herzel Goetta,
born 1970.
BUSINESS
Traders,
importers, marketers and exporters of diamonds.
40% of sales are
for export.
Among local
suppliers: RAMI NAIM, PEER DIAMONDS, GADI YAKOBOV, etc.
Operating from an
office, in 52 Bezalel Street, Diamond Exchange, Noam Building (Room 112), Ramat
Gan.
Note: Subject's
office is located within another firm's office (subject does not pay rent). In
coming March subject will move to its own office.
Having 3 employees
(including owner).
MEANS
Financial data not
forthcoming.
ANNUAL SALES
2006 sales claimed
to be US$ 3,800,000, 40% of which were exports.
2007 sales claimed
to be US$ 5,000,000, 40% of which were exports.
BANKERS
Union Bank of Israel
Ltd., Ramat Gan Branch (No. 062), Ramat Gan.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
According to the
Diamond Administration Director, year 2007 was full of challenges to the global
diamond branch, but the Israeli diamond branch coped with it well.
It should be noted
that Israeli diamond dealers note some slowdown in activities since mid 2007,
attributed to the sub-prime crisis in the U.S markets.
Year 2007 marked a
record in the export of cut diamonds from Israel, with net sales for export of
US$ 7.076 billion, 7% rise from 2006 (US$ 6.611 billion). Total export of cut
and rough diamonds crossed for the first time the US$ 12 billion line. Exports
(net) of rough diamonds were US$ 3.386 billion, a 25.5% increase from 2006 (US$
2.701 billion, which was a 23.2% decrease from 2005).
Import of rough diamonds (net) rose 8% in 2007 by (from 2006) to US$
5.084 billion, while import of cut diamonds (net) also increased in 2007 by
13.3% reaching US$ 4.558 billion.
The USA is the
main market for Israel’s export of cut diamonds (over 50%). The secondary
markets are Hong Kong (around 18%), Belgium (around 8%), Switzerland (6%) and
India (1.5%).
SUMMARY
Good for trade
engagements.
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%)