MIRA INFORM REPORT

 

 

Report Date :           

20.08.2011

 

IDENTIFICATION DETAILS

 

Name :

RPN RECUBRIMIENTOS POLYMERICOS DEL NOROESTE S.A. DE C.V.

 

 

Registered Office :

Camelias 490, Col. Luis Encinas, Postal Code 83138, City Hermosillo, Sonora State

 

 

Country :

Mexico

 

 

Date of Incorporation :

10.07.2006

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

import and trading of floors, acid resistant epoxy coating, reparing and maintenance of industrial floors, urethane epoxy coating, sanitary grade coating, special coating for mining industry

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Mexico

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

IDENTIFICATION   

                                                                                                                             

CORRECT COMPANY NAME

:

RPN RECUBRIMIENTOS POLYMERICOS DEL NOROESTE S.A. DE C.V.

TRADE NAME

:

N/A"

TAXPAYER REGISTRATION

:

RFC RRP-060710-9M0

MAIN ADDRESS

:

Camelias 490, Col. Luis Encinas,

POSTAL CODE

:

83138

CITY

:

Hermosillo

DEPARTMENT/STATE

:

Sonora

COUNTRY

:

MEXICO

TELEPHONE

:

22855518

FAX

:

N/A

WEB SITE

:

www.rpnrecubrimientos.com

 

 

SUMMARY

 

FOUNDATION               : 2006

SALES                         : 0.00

EMPLOYEES                : 25

PAYMENTS                  : Without rating (No payment experience traced)

CHIEF EXECUTIVE        : VALENCIA OLIVARRIA, ERIC

DISPOSITION               : PARTIAL (Full information but no figures).

 

 

LEGAL BACKGROUNDS                                                                                                                                  

 

LEGAL ESTATUS

:

Stock Company of Variable Capital

DATE OF INCORPORATION

:

10JUL2006

START OF OPERATIONS

:

N/A

REGISTERED IN

:

N/A

NOTARY OFFICE

:

N/A

DURATION

:

N/A

REGISTRATION

:

N/A

INITIAL CAPITAL

:

N/A

CURRENT PAID-IN CAPITAL

:

N/A

LAST CAPITAL INCREASE

:

N/A

SHAREHOLDERS' EQUITY

:

N/A

TYPE OF SHARES

:

N/A

LISTED AT STOCK EXCHANGE

:

No

SHARE VALUE

:

N/A

CURRENT EXCHANGE RATE

:

Ps$12.24 per 1 USA Dollar

MEMBERSHIP

:

N/A

 

 

COMMENTS .-

Information regarding Subject’s incorporation, share capital or personal data  were available.

 

 

DIRECTORS / EXECUTIVES / SHAREHOLDERS                                                                                                                                 

 

FULL NAMES / COMPANY NAME

TITLE

VALENCIA OLIVARRIA, ERIC

CEO

HERNANDEZ, JOSE MANUEL

Purchase Manager

 

 

WHO IS WHO?                                                                                                                                 

 

VALENCIA OLIVARRIA, ERIC

NATIONALITY                           : Mexican

Associated as per our database to :

Company

Position

Tax. Reg.

Country

AUTOS KINO S.A. DE C.V.

 

AKI-890707-919

MEXICO

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER                                                                                                                                  

 

COMPANY NAME

COUNTRY

AX. REG.

RELATION

AUTOS KINO S.A. DE C.V.

MEXICO

AKI-890707-919

Related

 

 

BUSINESS                                                                                                                                  

 

MAIN ACTIVITY .-

Subject is engaged in import and trading of floors, acid resistant epoxy coating, reparing and maintenance of industrial floors, urethane epoxy coating, sanitary grade coating, special coating for mining industry (sulphuric acid, caustic soda, hydrochloric acid, etc.) repairing and sealing of control joints for floor crack repairing, surfaces rubbering and cleaning with sand blast.

 

Trademark sold: “TENANTâ€, “BOADWAREâ€

 

IMPORT           : Yes

 

EXPORT           : No

 

% CASH SALES/METHOD

:

50%

% CREDIT SALES/TERMS

:

50% terms 7,15 days.

% FOREIGN SALES (COUNTRIES)

:

N/A

% DOMESTIC PURCHASES

:

70%

% FOREIGN PURCHASES

:

30%

SELLING TERRITORY

:

100% domestic market

EMPLOYEES

:

25

 

LOCATION .-

Premises

:

N/A

Monthly Amount

:

N/A

Time Occupied

:

N/A

Area

:

N/A

Floors

:

N/A

 

Remarks and other Premises .-

The address stated in the heading belongs to registered domicile and administrative and commercial office.

 

Subject does not have other addresses.

 

COMMENTS .-

Customers:

- Minera Cobre del Mayo

- Grupo México

- Coeur d'Alene Mines Corporation

- Industrias Peñoles

- Zenith Rubber

- Weir Minerals Division

- Mineras Santa Rita

- Silvercorp Metals Inc.

 

 

FINANCIAL INFORMATION                                                                                                                                 

 

Interviewee(s)

:

Srta. Carla Norzagaray

Position(s)

:

Management Assitant

Cooperation

:

PARTIAL (Full information but no figures).

Information Provided

:

After different efforts, we were assisted by the manager’s assistant, authorized previously, provided us information, except for balance sheet or accounting information.  Some interesting data included in this report were obtained through third parties and public sources; financial statements were not available.

 

FINANCIAL SITUATION                        :           UNDETERMINED

 

Financial Situation of the Company is considered as Undetermined due to it doesn't have enough financial elements to assess its results, nevertheless based on the elements obtained, we state that RPN RECUBRIMIENTOS POLYMERICOS DEL NOROESTE S.A. DE C.V. is a Mexican corporation engaged in trade coating floor of different qualities such as: industrial and mining coatings, concrete floor coating, cleaning with sand blast and surface rubbering, which are in the market from 2006, without negative background operating problems.

 

Although we do not have balance sheet to determine Subject’s Financial Situation, we should mention that current references provided by two suppliers evidence management stability, with open credit line, as well as credits used with average of five medium to high figures in dollars, which are managed properly, no adverse were found.

 

INSURANCE .-

Subject has an insurance policy with a local insurer. Name was not provided.

 

 

PAYMENTS RECORD                                                                                                                                  

TRADE REFERENCES-

Supplier

Country

Tel.

Line of Credit

Monthly Average

Terms(days)

Perfomance?

Time

Products/Services

WEIR MINERLAS MEXICO S.A. DE C.V.

MEXICO

5281 13519343

 Open

 Non specified

Ch/days

Prompt

11/2010

Pumps, hoose

SOLUCIONES POLIMERICAS S.A. DE C.V.

MEXICO

52662 2173667

 Open

US$ 60-70,000.=

Ch/15 days

Prompt

3 yrs

polymetric coating

 

 

CREDIT RISK CENTRAL .-

No negative records were reported in the consulted sources.

 

 

BANKING INFORMATION                                                                                                                                  

 

BANKERS .-

Bank

Contact

Telephone

Account #

DC (S/.)

FC (US$)

SANTANDER

N/A

N/A

N/A

N/A

N/A

Subject carries out its financial operations through the above-mentioned bank which denied providing further information of its account performance.

 

 

GENERAL INFORMATION                                                                                                                                 

 

REPUTATION .-

NOTHING  AGAINST COMPANY

 

 

CREDIT OPINION                                                                                                                                 

 

Requested Credit :       MAXIMUM CREDIT

NOTE: The Opinion given is confidential referential and with out liability

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.61

UK Pound

1

Rs.75.32

Euro

1

Rs.65.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.