MIRA INFORM
REPORT
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Report Date : |
05.08.2011 |
IDENTIFICATION DETAILS
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Name : |
CRYSTAL TANNERY S CO |
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Registered Office : |
Akaki Kality, Woreda 04, P O Box |
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Country : |
Ethiopia |
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Date of Incorporation : |
30.05.2006 |
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Com. Reg. No.: |
698316 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
production and export
of leather |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD
50,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Ethiopia |
c1 |
c1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
SUBJECT'S NAME
Registered Name: CRYSTAL TANNERY S CO
Requested Name: CRYSTAL
TANNERY S CO
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Akaki
Kality, Woreda 04, P O Box
Postal Address: P.o. Box No. 385, Code 1110
Addis Ababa
Country: Ethiopia
Phone: 251-114348683/
8601782
Cell: 251-91161566
Fax: 251-116181223
Email: support@crystaltannery.com
Website: None
CREDIT OPINION
Financial
Index as of December 2010 shows subject firm with a medium risk of credit. We
recommend Credit of USD 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 30/5/2006
Reg. Number: 698316
Nominal Capital ETB. 100,000
Subscribed Capital ETB. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Hashim Ibrahim CEO
Mr. Solomon Getu MD
Crystal Capital
Service Holding Company
RELATED COMPANIES
Crystal Capital
Service Parent company.
None Subsidiary company.
Crystal Bank Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate production and export of leather
Imports: Asia
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main Customers: firms
and organizations
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ethiopia
Location: Owned
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Ethiopian Birr (ETB.)
Approx. Ex. Rate: 1 US Dollar = 17.06 Ethiopian Birr
Fiscal
Year End: December 31, 2010
Inflation: According
to information given by independent sources, the
inflation
at December 31st, 2010 was of 13%.
Financial
Information not Submitted
Profit and Loss
(expressed in ETB.)
2010
Sales 40,000,000
BANK
Bank Name: National Bank of Ethiopia (NBE)
Branch: Addis Ababa, Ethiopia
Comments: None
TRADE REFERENCES
Experiences: Good
NOTARIAL BONDS
None
COMMENTS
/ ADDITIONAL INFORMATION
This information was obtained from outside sources other than the
subject company itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.42 |
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UK Pound |
1 |
Rs.72.70 |
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Euro |
1 |
Rs.63.55 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.