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Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
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Name : |
RICE AS |
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Formerly Known As : |
RICE APS |
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Registered Office : |
Havnegade 100 E 5000 Odense C Odense / Syd danmark |
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Country : |
Denmark |
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Year of Establishment : |
1998 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of luggage and leather articles |
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No. of Employees : |
40 |
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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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Denmark |
A2 |
A2 |
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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 |
DENMARK - ECONOMIC OVERVIEW
This thoroughly modern market
economy features a high-tech agricultural sector, state-of-the-art industry
with world-leading firms in pharmaceuticals, maritime shipping and renewable
energy, and a high dependence on foreign trade. Denmark is a member of the
European Union (EU); Danish legislation and regulations conform to EU standards
on almost all issues. Danes enjoy among the highest standards of living in the
world and the Danish economy is characterized by extensive government welfare
measures and an equitable distribution of income. Denmark is a net exporter of
food and energy and enjoys a comfortable balance of payments surplus but
depends on imports of raw materials for the manufacturing sector. Within the
EU, Denmark is among the strongest supporters of trade liberalization. After a
long consumption-driven upswing, Denmark's economy began slowing in 2007 with
the end of a housing boom. Housing prices dropped markedly in 2008-09 and,
following a short respite in 2010, continued to decline in 2011 though at a
slower pace. The global financial crisis has exacerbated this cyclical slowdown
through increased borrowing costs and lower export demand, consumer confidence,
and investment. The global financial crises cut Danish real GDP by 0.8% in 2008
and 5.8% in 2009. Denmark made a modest recovery in 2010 with real GDP growth
of 1.3%, in part because of increased government spending; however, the country
experienced a technical recession in late 2010-early 2011. Historically low levels
of unemployment rose sharply with the recession and have remained at about 6%
in 2010-11, based on the national measure, about two-thirds average EU
unemployment. An impending decline in the ratio of workers to retirees will be
a major long-term issue. Denmark maintained a healthy budget surplus for many
years up to 2008, but the budget balance swung into deficit in 2009. In spite
of the deficits, the new coalition government plans to deliver a modest
stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains
among the strongest in the EU at 46.5% of GDP in 2011. Despite previously
meeting the criteria to join the European Economic and Monetary Union (EMU), so
far Denmark has decided not to join, although the Danish krone remains pegged
to the euro. Denmark held the EU presidency during the first half of 2012;
priorities included promoting a responsible, dynamic, green, and safe Europe,
while working to steer Europe out of its euro zone economic crisis.
Source : CIA
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.75 |
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1 |
Rs.85.07 |
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Euro |
1 |
Rs.69.04 |
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.