MIRA INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
SENEGALAISE DES EAUX |
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Registered Office : |
Route Du Front De Terre 224, Dakar |
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Country : |
Senegal |
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Date of Incorporation : |
23.04.1995 |
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Com. Reg. No.: |
No. 197843 Dakar, Senegal |
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Legal Form : |
Limited
Liability company, Limited by shares |
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Line of Business : |
Production and distribution of drinking water, Water Supply and Irrigation
Systems |
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 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
SENEGALAISE DES
EAUX
Principal Address
Route Du Front De Terre 224, Dakar, Senegal
Telephone: +221-8325247
Fax: +221-8392013
Email: eau@sde.sn
Internet: www.sde.sn
Established
23/4/1995
Registration
No. 197843 Dakar, Senegal
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
1,200
Office & Factories
Head offices BP 224, Rte. du Front de Terre, Dakar,
Senegal
Branches None
Company Profile
Paid in Capital CFA. 3,000,000,000
Subscribed Capital CFA. 3,000,000,000
Shareholders
Name Position Amount
Ratio
Mr. Mamadou Dia CEO
Mr. Fabrice Pagani Director
Mr. Babacar Diouf Director
Mr. Sebasatian Lambert Director
Saur International group (BOUYGUES) Holding Co. 65.00%
Government Of Senegal Shareholder 35.00%
Total 100.00%
Credit Opinion
Our proposed credit
amount of USD 300,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr. Mamadou Dia
Remarks Top Decision Maker
President/ CEO (2)
Name Mr. Fabrice Pagani
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
Production and distribution
of drinking water, Water Supply and Irrigation Systems
Terms of payment
Buying
terms 30%
in cash, 70% on credit
Selling terms 80%
in cash, 20% on credit
Suppliers
None
Customers
Local
agencies , stores and outlets
Recent Sales
CFA. 58,000,000,000 (2007)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market Share
80.0%
Banking relationship
Main
Banks ECO 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 300,000 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%)