MIRA
INFORM REPORT
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Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUENO FUEGUINO S.A. |
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Registered Office : |
Alberto Einstein 1341. Parque
Industrial Rio Grande, Rio Grande, Tierra del Fuego Province. |
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Country : |
Argentina |
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Financials (as on) : |
31.05.2006 |
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Date of Incorporation : |
01.06.1981 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Textile Industry Manufacture of Sheets and Tablecloth |
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 |
Registered Name
SUEÑO FUEGUINO
S.A.
CUIT: 30-59241205-1
Summary
INCORPORATED IN 1981. BEGINNER OF ACTIVITIES. BALANCE SHEET AS OF 31/05/2006:
POSITIVE WITH A FAVOURABLE ECONOMIC-FINANCIAL SITUATION. STABLE PERSPECTIVES.
FULFILLMENT: WITHOUT OBJECTIONS. FIT FOR CURRENT CREDITS IN ACCORDANCE WIWTH
ITS RESOURCES.
Operations
TEXTILE INDUSTRY
MANUFACTURE OF SHEETS AND TABLECLOTH
Legal Structure
Business type: Public
Limited Company
Incorporated: 01/06/1981
Registered: 16/07/1982
Duration: 19/07/2081
End of fiscal year: May 31st
Contact
Mrs. Sonia Ohanessian (Administrative
Manager)
Dependences in Buenos Aires: Moreno 1369, Buenos Aires City, Argentina.
Phone: (54-11) 4382.1862
E-mail: sonia@sue.com.ar
Legal address and Production Plant: Alberto Einstein 1341. Parque
Industrial Rio Grande, Rio Grande, Tierra del Fuego Province.
Partners
President: OHANNES
BOGIATZIAN
Vice-president: OSCAR MENDEZ
Social signature use: In the charge of the President and Vice-president.
Corporate Stock
Common shareS:
Subscribed and paid-in capital: $ 500.000
Personal Information
BOGIATZIAN OHANES
Argentinian, single, born in 1947, DNI. 12.255.310.
MENDEZ OSCAR
Argentinian, born in 1936, divorcée, LE. 4.171.678.
They are registered in the following companies:
BRANDLUZ S.A.
IERGAT S.A.
History
According to our investigations, it is known that these activities were
directly started by this company on 01/06/1981.
Economic-Financial
Position
The company's directors refused to supply
financial information.
Therefore, it has been necessary to consult indirect sources, where we obtained
figures of the Balance Sheet ended as of 31/05/2006.
CURRENT ASSETS $ 56.292.202
NON-CURRENT ASSETS $
12.320.093
CURRENT LIABILITIES $
23.932.700
NON-CURRENT LIAB. $
950.193
NET WORTH $ 43.729.402
SALES $ 50.059.452
FINAL PROFIT $ 8.495.590
The exposed figures show a favourable economic-financial situation, obtaining a
positive result considered as compensatory.
FIGURES:
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WORKING CAPITAL $+ 32.359.502
CURRENT RATIO 2,35
INDEBTEDNESS 0,57
SOLVENCY 1,76
TOTAL ASSETS TO
TOTAL LIABILITIES 2,76
PROFIT OVER SALES 17,00%
Assets
The company is owner of the properties located in the previously exposed
addresses, which have an important realization value.
Evolution and Results
The subject company is a textile industry of
good importance, which performs the manufacture of tableclothes, sheets and
towels.
TRADEMARKS:
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DANUBIO
ROMANCE
PROFUMO DI LAVANDA
LA HIDROFILA ARGENTINA.
It carries out imports (raw materials) from Asia and Spain, exporting sets of
sheets to Uruguay.
It has the necessary structure, mainly represented by the large establishment
located in Rio Grande City (Tierra del Fuego), which is stocked with modern
technology and by the headquarters located in Buenos Aires City, which has good
characteristics.
It is well consolidated, doesn't register ups and downs and has stable
perspectives.
In the last twelve months it has carried out imports for a total value of u$s
29.235.833 from the following countries:
ARGENTINA (FREE ZONE) $ 17.124.92
PAKISTAN
9.524.636
SPAIN
1.893.238
OTHER COUNTRIES
693.037
* 150 EMPLOYEES
Payment Record and Credit
Risk
BANKS:
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BANCO DE LA NACION ARGENTINA
BBVA BANCO FRANCES
BANCO CIUDAD DE BUENOS AIRES
BANCO SUPERVIELLE
BANCO CREDICOOP
INSURANCE:
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ASOCIART
SEGURCOOP
LA BUENOS AIRES S.A.
CREDIT RISK:
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March/2008
BANCO SUPERVIELLE $
4.753.600 SITUATION 1
BANCO FRANCES 2.656.100 SITUATION 1
BANCO MARIVA 2.027.800 SITUATION 1
BANCO HSBC 1.913.900 SITUATION 1
BANCO CREDICOOP 1.870.600
SITUATION 1
BANCO MACRO 1.857.600 SITUATION 1
BANCO CREDITANSTALT
976.500 SITUATION 1
BANCO CIUDAD 903.500 SITUATION 1
BANCO COMAFI 818.800 SITUATION 1
BANCO NACION 243.100 SITUATION 1
BANCO ITAU 141.600 SITUATION 1
SITUATION 1: NORMAL FULFILLMENT.
Concept
Up to now there are no comments and/or that
could affect the company's commercial concept.
According to our consultations, it complies in due time the commitments taken.
* WELL QUALIFIED COMPANY
Final Opinion
We consider feasible the credit treatment
with this company by current amounts in accordance with its known
economic-financial situation.
For higher amounts, we suggest taking appropriate guarantees.
* FIT FOR CURRENT CREDITS IN ACCORDANCE WITH THE IMPORTANCE OF ITS RESOURCES.
FOR HIGHER AMOUNTS, TAKE APPROPRIATE GUARANTEES
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.54 |
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UK Pound |
1 |
Rs.84.86 |
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Euro |
1 |
Rs.66.95 |
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%)