MIRA INFORM REPORT

 

 

Report Date :

16.03.2011

 

IDENTIFICATION DETAILS

 

Name :

FEDECOVERA RL

(FEDERACION DE COOPERATIVAS DE LAS VERAPACES)

 

 

Registered Office :

6a Calle 5-05 Zona 11, Cobán, Alta Verapaz, Guatemala, Central America

 

 

Country :

Guatemala

 

 

Year of Establishment :

1976

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Federation of Cooperatives.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Guatemala

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS – GUATEMALA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: High

Currency: 100.00 GTQ = 12.9836 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

Fedecovera RL (Federacion de Cooperativas de las Verapaces)

Trade Name:

La Federacion de Cooperativas de las Verapaces

Legal Address

6a Calle 5-05 Zona 11, Cobán, Alta Verapaz, Guatemala, Central America

Operative Address

6a Calle 5-05 Zona 11, Cobán, Alta Verapaz, Guatemala, Central America

Telephone:

+(502) 7950-0741

NIT :

296543-7

Fax:

+(502) 2332-8883

Legal Form:

Corporation for Profit

Email:

gdelgado@fedecovera.com

Registered in:

Guatemala

Website:

www.fedecovera.com

Date Created:

1976

Manager:

Hugo Moran, Manager

Date Incorporated:

-

Staff:

150

Stock:

N/A

 

 

Value:

N/A

Activity:

Federation of Cooperatives.

 

 

BANKS

 

Name of the Bank

Banco De Desarrollo Rural SA

 

BUSINESS

 

HISTORY

 

This company was created in the year 1976.

PRINCIPAL ACTIVITY

 

The company is a federation of cooperatives

that includes 36 top quality made up of 60,000 people and 80,000 small farmers organized into thirty-three groups of indigenous Maya, primarily Q eqchi and Pocomchi.

Products/Services description:

 

They take care of helping to provide a better life for the indigenous peoples of Guatemala.

However their employees makes the following products:

 

Cardamom

Allspice

Cardamom Oil 

Coffee

Tea

Wood

Sales are:

 

Wholesale

Clients:

 

Various industries

Operations area:

 

National, International, Local

The company export to Worldwide

Competitors:

 

Finca Santa Elena

Ideotrade SA

Cafe Saul

Sophus Bokhandel og Cafe

 

PAYMENTS

 

regular

 

LOCATION

Headquarters

 

The company is headquartered at 6a Calle 5-05 Zona 11, Coban, Alta Verapaz, Guatemala.

Branches:

 

There were no branches found for this company.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.

Management:

 

Hugo Moran, Manager

Samy Orlando Lopez Garcia, Manager



Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

We have contacted Edin who provided us with the revenue for the year 2010, The NIT of the company, the bank that they work with  and the amount of employees.

Currency

DATE

 

USD

2010

 

Turnover

9,756,097

 

 

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.



 Rating

 

Local credit bureau gave a Low credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

This company has been in business for 35 years. It has a staff of 250 employees which makes it a large sized company.

 

There were no recent lawsuits found against the company or its legal representatives.

 

 

Although there was no financial information found for the year 2010, The representative provided us with an estimates of the financial figures for the year 2010. This gave a Low profitability.

 

Therefore we suggest working with GUARANTEES.

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

LOW

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Edin

Position

 

Accountant

Comments

 

He provided us with the revenue for the year 2010, The NIT of the company, the bank that they work with,  and the amount of employees.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.18

UK Pound

1

Rs.72.59

Euro

1

Rs.63.13

 

 

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.