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Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ORICA CHEMICALS ARGENTINA S.A. |
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Registered Office : |
Arenales 1645 piso 2º, City of |
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Country : |
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Date of Incorporation : |
04.06.2007 |
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Legal Form : |
Corporation |
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Line of Business : |
Marketing and import of general chemicals |
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No. of Employees : |
3 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Argentina |
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 |
ARGENTINA - ECONOMIC OVERVIEW
Argentina benefits from rich
natural resources, a highly literate population, an export-oriented
agricultural sector, and a diversified industrial base. Although one of the world's
wealthiest countries 100 years ago, Argentina suffered during most of the 20th
century from recurring economic crises, persistent fiscal and current account
deficits, high inflation, mounting external debt, and capital flight. A severe
depression, growing public and external indebtedness, and a bank run culminated
in 2001 in the most serious economic, social, and political crisis in the
country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a
default - the largest in history - on the government's foreign debt in December
of that year, and abruptly resigned only a few days after taking office. His
successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1
peg to the US dollar in early 2002. The economy bottomed out that year, with
real GDP 18% smaller than in 1998 and almost 60% of Argentines under the
poverty line. Real GDP rebounded to grow by an average 8.5% annually over the
subsequent six years, taking advantage of previously idled industrial capacity
and labor, an audacious debt restructuring and reduced debt burden, excellent
international financial conditions, and expansionary monetary and fiscal
policies. Inflation also increased, however, during the administration of
President Nestor KIRCHNER, which responded with price restraints on businesses,
as well as export taxes and restraints, and beginning in early 2007, with
understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her
husband as President in late 2007, and the rapid economic growth of previous
years began to slow sharply the following year as government policies held back
exports and the world economy fell into recession. The economy has rebounded
strongly from the 2009 recession, but the government's continued reliance on
expansionary fiscal and monetary policies risks exacerbating already high
inflation.
Source
: CIA
ORICA CHEMICALS
ARGENTINA S.A.
CUIT No.: 30-71028284-2
INCORPORATED IN 2007,
BEGINNER OF ACTIVITIES, NO FINANCIAL DATA PROVIDED, OPERATES WITHIN A MEDIUM
LEVEL, NO NEGATIVE ANTECEDENTS, APT FOR MODERATE CREDITS, FOR GREATER SUMS,
REQUEST GUARANTEES.
> GENERAL
CHEMICALS
> IMPORT
> MARKETING
Legal Form:
Corporation
Incorporated:
04/06/2007
Registired R.P.C.: 08/06/2007
Duration:
99 years
Balance:
30/09
Legal address:
Arenales 1645 piso 2º, City of Buenos Aires. ARGENTINA.
Operativa and administrative address: Posadas No. 1359, 5o.piso,
Dpto."B" (1011), City of Buenos Aires, Argentina.
Phone: (54-11) 4816-7458
PRESIDENT:
FERNANDO OSCAR BALTRA DEL CAMPO
V.PRESIDENT: ROBERTO PETER HILL PLANELLA
DIRECTOR: IGNACIO STRAUCH DELGER
ALTERNATE: CARLOS JAVIER HOLGADO
Using signature: President and Vice President.
This directory applies from the Assembly on 12 April 2012.
The share capital
of the company is established in the amount of $ 1,051,020 has been fully
subscribed and realized, represented by an equal number of common shares,
registered non-endorsable v / n. $ 1.00 each with the right to one vote per
share.
It has been
determined through the inquiries that have been made, that the activities in
question were initiated and implemented by this society, which is governed by
the legal provisions mentioned above.
The company was founded by instrument dated June 4, 2007, and its capital
providers the following companies: Orica Chemicals Chile SA and Active
Chemicals CHILE SA, both based legal in Argentina in 1166 Reconquista street
12th floor of the city of Buenos Aires.
According to the relevant bylaws, the company can focus on the following
activities:
Buy / sell, import, export, manufacture, processing, fractionation,
DISTRIBUTION, CONSUGNACION AND / OR COMMISSION chemical and food products.
The first board of the company was composed of the following persons:
PRESIDENT: RODRIGO FERNANDO SALA, V.PRESIDENT: VICTOR MANUEL ESQUIVEL QUERCI,
DIRECTOR: ROBERT HILL ??PLANELLA, ALTERNATE: FERNANDO ALBERTO TUJMAN.
Those responsible
for the company declined to provide information in strict form, let alone the
book character.
From inquiries made through third parties, it appears that it operates within a
plane of medium importance, but until this becomes known unfavorable
alternatives.
The actions of the company to date has been as normal manifestandom far and who
generally viewed fueranm assigned stable outlook.
Not known to
register your name on owners of real estate and / or boulders that increase
their wealth.
Occupying offices at the address, are taken in lease for addition and under
conditions not disclosed.
The company owner
is dedicated to the import and marketing of chemicals in general, which is
located in the Directorate offices exposed.
They are located in downtown area and is conveniently installed.
Personally serve managers, who have the support of a small number of employees.
* 3 employees.
Partners:
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ORICA CHILE SA (Chile)
TEPAM (China)
LACKLANA (England)
During the last 12 months in office has materialized imports for $ 1,727,058
from the following countries:
CHINA 1,330,978
INDIA 193 966
UK
121,408
OTHER 80,706
The main imports were made with nitrogen functions usocianatos, prepared
binders, styrene polmeros and related items.
CITIBANK N.A.
Central House
INSURANCE:
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MAPFRE S.A.
The company
does not register negative antecedents of any kind and from the realized
inquiries, it arises that it takes care of the general obligations that assume
within the fixed terms.
FULFILLMENT WITHOUT QUESTIONINGS
We consider
that is possible to relate with the company in operations of
credit, within sum of current importance, with the request of endorsement that
are of habitual exigency.
APT FOR CREDITS
JMC/
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.44 |
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1 |
Rs.89.31 |
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Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
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.