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Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SLOVMAG, A.S. LUBENÍK |
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Registered Office : |
236 049 18 Lubeník |
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Country : |
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Financials (as on) : |
2011 |
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Date of Incorporation : |
15.11.1993 |
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Com. Reg. No.: |
No. 402/S |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of refractory products |
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No. of Employees : |
500 - 999 (estimated) |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Slovakia |
B1 |
B1 |
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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 |
SLOVAKIA - ECONOMIC OVERVIEW
Slovakia has made significant
economic reforms since its separation from the Czech Republic in 1993. Reforms
to the taxation, healthcare, pension, and social welfare systems helped Slovakia
consolidate its budget and get on track to join the EU in 2004 after a period
of relative stagnation in the early and mid 1990s and to adopt the euro in
January 2009. Major privatizations are nearly complete, the banking sector is
almost entirely in foreign hands, and the government has helped facilitate a
foreign investment boom with business friendly policies. Slovakia's economic
growth exceeded expectations in 2001-08 despite a general European slowdown.
Foreign direct investment (FDI), especially in the automotive and electronic
sectors, fueled much of the growth until 2008. Cheap and skilled labor, low
taxes, a 19% flat tax for corporations and individuals, no dividend taxes, a
relatively liberal labor code and a favorable geographical location are
Slovakia's main advantages for foreign investors. The economy contracted 5% in
2009 primarily as a result of smaller inflows of FDI and reduced demand for
Slovakia's exports before rebounding 4% in 2010 and 3.3% in 2011. Unemployment
rose above 12% in 2010-11. The government of Prime Minister Iveta RADICOVA
implemented reforms to curb corruption and improve government accountability -
a major source of discontent with many Slovaks - and trimmed the budget deficit
to 4.9% of GDP in 2011.
Source : CIA
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Insolvency Information: |
According to available information sources the company is not in a
insolvency/preliminary/debt regulation proceeding. |
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Payment Practices: |
Payments are made mostly according to terms |
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Further Rating Information: |
Researched company is categorized as a big
company. |
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Debt Collection: |
SKK 34.194,00 (Invoice date: 01.01.1980) |
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Established: |
15.11.1993 |
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Registration: |
No. 402/S |
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Former Registration: |
No. 402/S |
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Legal Form: |
01.03.1994 |
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History: |
236 (since : 04.08.2005) |
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Capital: |
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Shareholders: |
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Management: |
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Legal Representation: |
If more than one member of the executive board is nominated, the firm
is represented by two members of the executive board jointly or by one of
them together with a joint signing clerk. |
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Related Companies: |
shareholder of |
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Subject of
Operation: |
NACE |
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Company Development: |
300: Satisfactory business development |
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Key Data:
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Workforce: |
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Real Estate: |
built upon |
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Financials:
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Approximate Exchange Rates: |
2010: 0,75 EUR = 1 USD |
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Financial data source: |
2011: |
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Financial Comments: |
The balance sheet data are from official
sources. |
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Bankers: |
Všeobecná
úverová banka, a.s. - Account no. 55800-582/0200 |
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Ratios:
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Central Register of
Right of Liens: no record
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.62 |
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1 |
Rs.83.57 |
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Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
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Report
Prepared by : |
PRL |
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.