MIRA INFORM
REPORT
|
Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
EL Corte Ingles S. A. |
|
|
|
|
Registered Office : |
Calle Hermosilla, 112, 28009 |
|
|
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|
Country : |
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|
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|
Date of Incorporation : |
01.01.1940 |
|
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|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
All Types
of Consumer
Products In Its Wider Variety, Furniture, Gifts |
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 |
|
Maximum Credit Limit : |
€
6.000.000,00 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Identification
Current Business Name: EL CORTE INGLES
S.A.
Commercial Name:
Other names: YES
Current Address: CALLE HERMOSILLA, 11228009 MADRID
Branches: 655
Telephone number: 914068600 Fax: 914017454
URL: www.elcorteingles.es
Corporate e-mail: administracion@elcorteingles.es
Trade Risk
Credit Appraisal: 6.000.000,00 €
Incidents: YES
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2010): 11.201.939.000,
00 € (Trade Register)
Result: 367.073.000 €
Total Assets: 12.565.302.000 €
Social Capital: 486.864.000,00 €
Employees: 61.507
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 02/01/1952
Activity: Retail sale of
industrial products (except foodstuff)
NACE 2009 CODE: 4719
International Operations: Imports
Corporate Structure
President:
Participations: 44
Other Complementary Information
Latest act published in BORME: 02/12/2010 Appointments
Latest press article: 28/12/2010 CINCO DIAS (BRANCHES)
Bank Entities: There are
TRADE RISK
Credit Appraisal
Maximum
Credit
(from
0 to 6,000,000 €)
Favourable to
6.000.000,00 €
Financial
Situation
Exercise:2010
|
Treasury |
Degraded |
|
Indebtedness |
Bad |
|
Profitability |
Average |
|
Balance |
Degraded |
Performance
|
Incidents |
Exceptional |
|
Business
Trajectory |
Acceptable |
Summary
LEGAL ACTIONS: 2 ( Last:18/03/2004
, first: 09/12/2003 )
|
|
|
|
|
Insolvency Proceeding: |
0 |
|
|
Civil Court: |
0 |
|
|
Social Courts: |
2 |
|
ADMINISTRATIVE CLAIMS: 8
( Last:23/02/2010 , first: 13/11/2009 )
|
|
|
|
|
With the Social Security: |
7 |
|
|
With the Tax Authorities: |
0 |
|
|
With Other Official bodies: |
1 |
|
AFFECTED BY:
Last Legal Actions
Figures expressed in €
SOCIAL COURT
|
DATE |
INCIDENCE STATUS |
ACTOR |
AMOUNT |
|
18/03/2004 |
CLAIM |
PINEDA GALLEGO AGUEDA |
6.303,11 |
|
09/12/2003 |
CLAIM |
PEREZ DELGADO JESUSA |
|
Latest Administrative Claims
Figures expressed in €
WITH THE SOCIAL SECURITY
Notifications
|
DATE |
ORGANIZATION |
AMOUNT |
|
30/11/2009 |
CENTRAL
TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE TRABAJO Y SEGURIDAD
SOCIAL |
2.568,79 |
|
30/11/2009 |
CENTRAL
TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE TRABAJO Y SEGURIDAD
SOCIAL |
2.661,42 |
|
13/11/2009 |
CENTRAL
TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE TRABAJO Y SEGURIDAD
SOCIAL |
8.074,58 |
WITH OTHER OFFICIAL BODIES
Seizures
|
DATE |
ORGANIZATION |
AMOUNT |
|
23/02/2010 |
TOWN/ CITY HALL DE SEVILLA |
|
BANK AND BUSINESS
DEFAULTS OF PAYMENT - ASNEF INDUSTRIAL 
FINANCIAL ELEMENTS AND SECTORIAL
COMPARATIVE
FINANCIAL ELEMENTS
Figures given in thousands €
|
|
28/02/2010 (12) |
% ASSETS |
28/02/2009 (12) |
% ASSETS |
29/02/2008 (12) |
% ASSETS |
||
|
ASSETS |
|
|
|
|
|
|
||
|
A) NON CURRENT ASSETS |
9.969.157,00 |
79,34 |
9.686.231,00 |
78,17 |
8.758.159,00 |
78,45 |
||
|
B) CURRENT ASSETS |
2.596.145,00 |
20,66 |
2.704.339,00 |
21,83 |
2.406.413,00 |
21,55 |
||
|
LIABILITIES |
|
|
|
|
|
|
||
|
A) NET WORTH |
5.542.303,00 |
44,11 |
5.313.003,00 |
42,88 |
5.102.562,00 |
45,70 |
||
|
B) NON CURRENT LIABILITIES |
3.090.268,00 |
24,59 |
2.623.345,00 |
21,17 |
1.581.304,00 |
14,16 |
||
|
C) CURRENT LIABILITIES |
3.932.731,00 |
31,30 |
4.454.222,00 |
35,95 |
4.480.706,00 |
40,13 |
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Balance Sheet Comments
Total assets of the company grew in 1,41%
between 2.009 and 2.010.
This growth is a consequence of non current assets increase
in 2,92%.
This growth has been financed with a Net Worth increase
of 4,32%; this company’s net increase has also covered the reduction
of 0,77% of company’s indebtedness.
Total assets of the company grew in 10,98%
between 2.008 and 2.009.
This growth has been inferior in the case of the non current
assets that increased just in 10,60%.
This growth has been mainly financed with a debt increase
of 16,75%. Nevertheless Net Worth grew 4,12%.
Profit and Loss Account Analysis
Figures given in thousands €
|
|
28/02/2010 (12) |
% NET TURNOVER |
28/02/2009 (12) |
% NET TURNOVER |
29/02/2008 (12) |
% NET TURNOVER |
|
SALES |
11.201.939,00 |
|
11.555.893,00 |
|
12.224.277,00 |
|
|
GROSS MARGIN |
3.611.048,00 |
32,24 |
3.686.082,00 |
31,90 |
3.871.041,00 |
31,67 |
|
EBITDA |
721.915,00 |
6,44 |
718.464,00 |
6,22 |
845.599,00 |
6,92 |
|
EBIT |
364.899,00 |
3,26 |
394.343,00 |
3,41 |
524.721,00 |
4,29 |
|
NET RESULT |
367.073,00 |
3,28 |
363.046,00 |
3,14 |
447.072,00 |
3,66 |
|
EFFECTIVE TAX RATE (%) |
5,40 |
0,00 |
11,86 |
0,00 |
17,01 |
0,00 |
Profit and Loss
Account Comments
The company’s sales figure decreased
in 3,06% between 2.009 and 2.010.
The company’s EBIT decreased in 7,47% between 2.009 and 2.010.
This evolution implies a reduction in the economic
profitability of the company .
The result of these variations is a decrease of the
company’s Operating Profitability of 2,41% in the analysed period,
being this profitability of 5,68% in the year 2.010.
The Net Result of the company grew
in 1,11% between 2.009 and 2.010.
The company’s Financial Profitability has been positively
affected by the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the
company’s economic profitability of 9,48% in the analysed period,
being equal to 6,97% in the year 2.010 .
The company’s sales figure decreased
in 5,47% between 2.008 and 2.009.
The company’s EBIT decreased
in 24,85% between 2.008 and 2.009.
This evolution implies a reduction in the economic
profitability of the company .
The result of these variations is a decrease of the
company’s Operating Profitability of 26,42% in the analysed period,
being this profitability of 5,82% in the year 2.009.
The Net Result of the company decreased
in 18,79% between 2.008 and 2.009.
The company’s Financial Profitability has been positively
affected by the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the
company’s economic profitability of 26,81% in the analysed period,
being equal to 7,70% in the year 2.009 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on
the total assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
79,34 |
61,35 |
17,99 |
|
A) CURRENT ASSETS |
20,66 |
38,65 |
-17,99 |
|
LIABILITIES |
|||
|
A) NET WORTH |
44,11 |
37,18 |
6,92 |
|
B) NON CURRENT LIABILITIES |
24,59 |
16,54 |
8,05 |
|
C) CURRENT LIABILITIES |
31,30 |
46,27 |
-14,97 |
|
|
|
|
|
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT
ANALYSIS: % on the total operating income |
|
|
|
|
SALES |
95,60 |
94,23 |
1,37 |
|
GROSS MARGIN |
30,82 |
34,46 |
-3,64 |
|
EBITDA |
6,16 |
7,30 |
-1,14 |
|
EBIT |
3,11 |
4,18 |
-1,07 |
|
NET RESULT |
3,13 |
2,07 |
1,06 |
Sector Composition
Compared sector (NACE 2009): 4719
Number of companies: 33
Size (Sales Figure): > 40,000,000.00 Euros
Comments on the sectorial comparative
Compared to its sector the assets of the companies
show a greater proportion of non current assets. Specifically the
difference with the sector average is 17,99% .
In liabilities composition the company appeals on a wider
scale to self financing, being the proportion of Net Worth
of 6,92% major. As a consequence, external financing sources are less
used by the company ( 6,92% less than the sector) .
The proportion that the sales mean to the company’s total
ordinary income is 95,60% , an 1,37% higher than in the
sector .
The company’s EBIT was positive and was 3,11% with
regard to the total ordinary income, 1,07% inferior to the one of the
sector .
The company’s capacity to generate operating income is
inferior to that of the sector as its ratio EBIT/Sales is
inferior (0,03 in comparison with 0,04) .
The company’s net result was positive and equal
to 3,13% with regard to the total ordinary
income, 1,06% superior to the one of the sector .
The financial results and the tax impact have had a positive
impact on the net result of the company; the contrary that in the sector .
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2010
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
367.073.000,00 |
Legal Reserve |
0,00 |
|
Carry Over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other free disposition reserves |
0,00 |
Voluntary reserves |
328.124.000,00 |
|
Total of Amounts to be distributed |
367.073.000,00 |
Dividends |
38.949.000,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous
exercises losses |
0,00 |
|
|
|
Application total |
367.073.000,00 |
Auditing
Source: filing of annual financial
statement 2010
Auditors’ opinion: FAVOURABLE
Auditor: DELOITTE S.L.
Auditing fees: 702.200,00 €
Facts subsequent to the closing
Source: Annual financial report 2010
Como hecho de mayor relevancia ocurrido después del cierre
del ejercicio, destaca la inauguración en El Ejido (Almena), el día 28 de mayo
de 2010, de un Centro Comercial
ADDRESSES
Current Legal Seat Address:
CALLE HERMOSILLA, 112
28009
Previous Seat Address:
CALLE PRECIADOS 3
28013
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE EDUARDO DATO, 22 |
01005 |
VITORIA-GASTEIZ |
Álava |
|
CALLE |
01004 |
VITORIA-GASTEIZ |
Álava |
|
CALLE ZARAMAGA, 1 |
01013 |
VITORIA-GASTEIZ |
Álava |
|
PLAZA ALTOZANO, 6 |
02001 |
|
|
|
CALLE CABA (4 6), 2 |
02001 |
|
|
|
CL HELLIN. C/V A AV. DE ESPAÑA S/N |
02002 |
|
|
|
CALLE HELLIN |
|
|
|
|
CALLE IRIS, 8 |
02005 |
|
|
|
CALLE MARTIRES, 5 |
02630 |
LA RODA |
|
|
CALLE TESIFONTE GALLEGO, 1 |
02002 |
|
|
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Main Board members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
PRESIDENT |
ALVAREZ ALVAREZ ISIDORO |
16/10/2008 |
|
|
VICE-PRESIDENT |
CORPORACION CESLAR SL |
25/08/2002 |
|
|
MANAGING DIRECTOR |
GOMEZ PASTRANA MORALES MANUEL |
16/10/2008 |
|
|
MANAGING DIRECTOR |
HERMOSO ARMADA JUAN |
16/10/2008 |
|
|
MANAGING DIRECTOR |
LASAGA MUNARRIZ FLORENCIO |
16/10/2008 |
|
|
MANAGING DIRECTOR |
|
16/10/2008 |
|
|
MANAGING DIRECTOR |
DE MINGO CONTRERAS JUAN MANUEL |
16/10/2008 |
|
|
MANAGING DIRECTOR |
CARTERA MANCOR S.L |
16/10/2008 |
|
|
MEMBER OF THE BOARD |
|
29/08/2010 |
|
|
AUDITOR |
APPOINTMENT DATE |
||
|
DELOITTE SL |
10/11/2010 |
||
Board members remuneration
Source: Annual financial report 2010
Board members remuneration: 12.673.000,00 €
Functional Managers
|
POSITION |
NAME AND SURNAME |
|
Financial Director |
|
|
Human Resources Director |
QUINTANA CARLOS |
|
Purchases Director |
|
|
Advertising Director |
JAVIER AGUADO |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|||||
|
ALVAREZ ALVAREZ ISIDORO |
|
15,00 |
ANNUAL REP. |
01/03/1994 |
|
|||||
|
INGONDEL S.L. |
B80702079 |
9,00 |
LA GACETA |
13/05/2008 |
|
|||||
|
HERMANOS LUIS Y CELESTINO ARECES |
|
8,00 |
ANNUAL REP. |
01/03/1994 |
|
|||||
|
EL CORTE INGLES S.A. |
A28017895 |
3,61 |
TRADE REG. |
28/02/2010 |
|
|||||
|
EMPLEADOS EL CORTE INGLES |
|
2,00 |
ANNUAL REP. |
01/03/1994 |
|
|||||
|
ARECES FUENTES |
|
0,71 |
TRADE REG. |
29/02/2008 |
|
|||||
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
SEGUROS EL CORTE INGLES VIDA PENSIONES Y REASEGUROS SA |
A79346839 |
100,00 |
TRADE REG. |
28/02/2010 |
|
INFORMATICA EL CORTE INGLES SA |
A28855260 |
100,00 |
OWN SOURCES |
13/05/2010 |
|
THE HARRIS COMPANY INC |
UNITED STATES |
100,00 |
TRADE REG. |
28/02/2010 |
|
CONSTRUCCION PROMOCIONES E INSTALACIONES |
A28436483 |
100,00 |
TRADE REG. |
28/02/2010 |
|
HIPERCOR SA |
A28642866 |
100,00 |
OWN SOURCES |
29/07/2010 |
|
TIENDAS DE CONVENIENCIA SA |
A78476389 |
100,00 |
OWN SOURCES |
17/03/2010 |
CREDIT INFORMATION
Incorporation date: 02/01/1952
Establishment date: 01/01/1940
Founder’s Name: RAMON ARECES Y CESAR RODRIGUEZ
NACE 2009 CODE: 4719
NACE 2009 Activity: Other retail sale in non-specialised
stores
Business: THE REALIZATION
OF YOUR TRADE
ACTIVITIES IN LARGE INTEGRATED, covering sales of ALL TYPES OF CONSUMER PRODUCTS AT ITS
WIDEST VARIETY, FURNITURE, GIFTS, ECT
Environmental information: YES (Page 120 -
124) Annual financial report 2010
Latest employees figure: 61.507 (2010)
% of fixed employees: 93,69%
% of temporary employees: 6,31%
% of men: 37,46%
% of women: 62,54%
Employees evolution
|
|
|
|
Source: Annual financial
report 2010
|
CATEGORY |
TOTAL PER CATEGORY |
MEN |
WOMEN |
|
Distribución por sexo |
|
23.658 |
39.492 |
PURCHASES
Import Percentage: 7%
Imports from: UNION EUROPEA Y OTROS PAISES
National Distribution: 93%
SUPPLIERS
|
BUSINESS
NAME |
INTERNATIONAL |
|
BRICOR SA |
NO |
|
ASON INMOBILIARIA DE ARRIENDOS SL |
NO |
|
SEPHORA COSMETICOS ESPAÑA SL |
NO |
|
OPTICA 2000 SL |
NO |
|
PUBLIECI TELEVISION SA |
NO |
|
EL CORTE INGLES GRANDES ARMAZENS SA |
YES |
|
CANAL CLUB DE DISTRIBUCION DE OCIO Y CULTURA SA |
NO |
|
SUPERCOR SA |
NO |
|
GESTION DE PUNTOS DE VENTA GESPEVESA SA |
NO |
|
CENTRO DE SEGUROS Y SERVICIOS CORREDURIA DE SEGUROS SA
GRUPO DE SEGUROS EL CORTE INGLES |
NO |
CLIENTS
|
BUSINESS
NAME |
INTERNATIONAL |
|
EL CORTE INGLES-GRANDES ARMAZENS SA |
NO |
|
EL CORTE INGLES SA |
NO |
|
SUPERCOR SA |
NO |
|
PARINVER SA |
NO |
|
INFORMATICA EL CORTE INGLES SA |
NO |
|
SEPHORA COSMETICOS ESPAÑA SL |
NO |
|
SFERA JOVEN SA |
NO |
|
PUBLICIDAD PUNTO DE VENTA ECI SA |
NO |
|
TIENDAS DE CONVENIENCIA SA |
NO |
|
GESTION DE PUNTOS DE VENTA GESPEVESA SA |
NO |
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
FINANCIERA EL CORTE INGLES E.F.C., S.A. |
|
|
|
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
|
|
|
BANCO SANTANDER, S.A. |
|
|
|
|
|
MPCA RONDA, |
|
|
|
|
Discount facilities: 1
Credit policy: 1
Mortgage loan: 0
Loans with no real security: 0
|
|
|
|
Debt type: Discount
facilities |
Granted limit: 17.962.000,00 € Used limit: 4.407.000,00
€ Available limit:
13.555.000,00 € Source: Filed
Accounts (2010) |
|
|
|
|
Debt type: Credit
policy |
Granted limit: 2.310.439.000,00 € Used limit: 882.778.000,00
€ Available limit:
1.427.661.000,00 € Source: Filed
Accounts (2010) |
|
|
|
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE
ACTIVITY |
1 YEAR PAYMENTS |
PAYMENTS FROM 1 TO 5 YEARS |
5 YEARS PAYMENTS |
|
|
Terrenos, construcciones y equipos para procesos de
información |
8.948.000,00 |
39.358.000,00 |
4.772.000,00 |
FORMER NAMES:
•
EL CORTE INGLES SL
Brand name: INVOCA (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 18/11/2010
Brand name: DIGRATO CAFE (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 20/10/2010
Brand name: THE COLLECTOR STORE EL CORTE
INGLES (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 15/10/2010
Brand name: PITIFLU (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 23/09/2010
Brand name: SUPERMERCADO EL CORTE INGLES, LO
BUENO UNE (Valid)
Type: JOINT Scope: NATIONAL
Date: 17/09/2010
LEGAL STRUCTURE
Constitution Data
Register Date: 02/01/1952
Legal form: Joint-stock Company
Social Capital: 486.864.000,00 €
Paid-up capital: 486.864.000,00 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E. (OFFICIAL COMPANIES REGISTRY GAZETTE)
Acts on activity: 1 (Last: 03/11/1994)
Acts on administrators: 450 (Last:
02/12/2010, first: 16/02/1990)
Acts on capital: 20 (Last:
20/10/2008, first: 01/03/1991)
Acts on creation: 0
Acts on filed accounts: 39 (Last:
19/11/2010, first: 05/12/1990)
Acts on identification: 0
Acts on Information: 21 (Last:
30/07/2010, first: 12/12/1990)
Acts on proceedings: 2 (Last:
19/06/2002, first: 14/01/2002)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
02/12/2010 |
446849 |
|
|
Appointments |
02/12/2010 |
446848 |
|
|
Appointments |
02/12/2010 |
446847 |
|
|
Appointments |
02/12/2010 |
446846 |
|
|
Appointments |
16/11/2010 |
421132 |
|
|
Re-elections |
10/11/2010 |
413685 |
|
|
Appointments |
10/11/2010 |
413684 |
|
|
Resignations |
10/11/2010 |
413684 |
|
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2010) |
19/11/2010 |
1063745 |
|
|
Annual Filed Accounts (2010) consolidated |
19/11/2010 |
1062201 |
|
|
Annual Filed Accounts (2009) |
13/11/2009 |
848607 |
|
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 307 (Last: 28/12/2010, first:
01/01/2005)
Informative data: 171 (Last: 20/12/2010, first:
11/01/2005)
Financial Information: 26 (Last:
12/10/2010, first: 03/01/2005)
Negative information: 0
Business lines: 71 (Last: 23/11/2010, first: 14/01/2005)
Historical press releases: 770 (Last:
27/12/2004, first: 15/05/1993)
Latest press article published
28/12/2010 CINCO
DIAS (Page 10) BRANCHES
EL CORTE INGLES will drive
growth in its multi-brand retail network outside their stores. In less than a year, the distribution group has opened 8 multi-brand
outlets, two in
22/12/2010 EL ECONOMISTA (Page 18) BRANCHES
EL CORTE INGLES has launched a new online fashion store for Facebook, iPad and iPhone.
The co. has
5 million unique users per month on online sales
platform and the group's
turnover for this leg of business amounting to 310 million euros.
20/12/2010 CINCO DIAS (Page 6) GENERAL
INFORMATION
EL CORTE INGLES has won the tender launched
by the Congress and will
continue taking care of the travel agency that manages the movement of members, a task that was already making a
provisional basis since spring when the House reversed its agreement with MARSANS TRAVEL.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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
Company |
---- |
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.