MIRA INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AIR SENE INTERNATIONAL |
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Registered Office : |
BP 29127 Dakar |
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Country : |
Senegal |
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Date of Incorporation : |
01.02.1971 |
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Com. Reg. No.: |
No. 71B0084 Senegal |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Domestic and
International Airline Services |
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 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
AIR SENE INTERNATIONAL
Other Name
AIR SENEGAL INTERNATIONAL
Principal Address
BP 29127 Dakar Senegal
Telephone: +221-33-8652300/
8203930
Fax: +221-33-8203930
Email: resadkr@airsenegalinternational.sn
Internet: www.air-senegal-international.com
Established
01/02/1971
Registration
No. 71B0084 Senegal
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
500
Office & Factories
Head offices aeroport Leopold Sedar SENGHOR, Dakar,
Senegal
Branches (18) 31, Av Roume, Dakar, local & abroad
Company Profile
Paid in Capital CFA. 7,500,000,000
Subscribed Capital CFA. 7,500,000,000
Shareholders
Name Position Amount
Ratio
Mr. Mohamed El
Yaalaoui CEO
Mr. Farid Senhaji Director
Groupe Royal Air
Maroc Holding Co. 51.00%
Government of
Senegal Shareholder 49.00%
Total 100.00%
Credit Opinion
Our proposed credit
amount of USD 150,000 is recommendable
Affiliated Companies
None Stated
Management/ Directors
President/ CEO (1)
Name Mohamed
El Yaalaoui
Remarks Top
Decision Maker
President/ CEO (2)
Name Farid
Senhaji
Þ 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
Domestic and
international airline services
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various
Customers
Public
Recent Sales
CFA. 96,000,000,000
(2007)
Exports
Worldwide
Export Ratio
30.0%
Import Ratio
30.0%
Domestic Market Share
30.0%
Banking relationship
Main Banks SGBS 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 150,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)