MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ATLANTIC COMPANY FOR TRADING & DRILLING |
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Registered Office : |
Amarnath Al
Fluringer Building, 4th Floor, Al Souq Al Arabi,
Khartoum |
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Country : |
Sudan |
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Date of Incorporation : |
1993 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution of
General Merchandise |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ATLANTIC COMPANY FOR TRADING & DRILLING
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 1993
Issued Capital : SD 500,000
Paid up Capital : SD 500,000
Total Workforce : 10
Activities : Import and distribution of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ATLANTIC COMPANY
FOR TRADING & DRILLING
ADDRESS
Registered & Physical Address
Building : Amarnath Al Fluringer Building, 4th Floor
Area : Al
Souq Al Arabi
Town : Khartoum
Country : Sudan
Mobile : (249-912) 302330
Email : coly83@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Khartoum.
KEY PRINCIPALS
Name Position
·
Mohamed
Al Mahdi Al Mostafa Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 1993
Legal Form :
Limited Liability Company
Issued Capital : SD 500,000
Paid up Capital : SD 500,000
Name of Shareholder (s)
·
Mohamed
Al Mahdi Al Mostafa
OPERATIONS
Activities: Engaged in the import
and distribution of general merchandise, specialising in chemicals, raw
materials and drilling equipment
Subject has a
workforce of 10 employees.
FINANCIAL DATA
Companies
registered in Sudan are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Bank of
Khartoum
PO Box 1008
Khartoum
Tel: (249-15) 6660000
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.13 |
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UK Pound |
1 |
Rs.85.02 |
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Euro |
1 |
Rs.67.77 |
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%)