MIRA INFORM REPORT

 

 

Report Date :

17.09.2012

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

 

 

Payment Behaviour :

---

 

 

Litigation :

---

 

 

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

mexico - ECONOMIC OVERVIEW

 

Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico''s GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.4% in 2010 and 3.8% in 2011, with exports - particularly to the United States - leading the way. The administration continues to face many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs.

 

Source : CIA

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

BEL MANUFACTURERA S.A. DE C.V.

TRADE NAME

HUBBELL POWER SYSTEMS

TAXPAYER REGISTRATION

RFC BMA9309155H0

MAIN ADDRESS

Santiago Blancas No. 551, Col. Terrazas del Valle,

POSTAL CODE

32599

PROVINCE / DEPARTAMENT

Ciudad Juárez

STATE / REGION

Chihuahua

COUNTRY

MEXICO

TELEPHONE

(52656) 6298500 - 6290951

WEB

www.hubbell.com

COMMENTS

 
Ordered as: HUBBELL POWER SYSTEMS (trade name)
 
Clarify the legal name of this company is as shown in heading of report.

 

SUMMARY

 

Payments policy

Without rating (No payment experience traced)

Credit (**)

Indeterminate, Information is insufficient. With no Experience.

 

GENERAL INFORMATION

 

Be advised when we contacted the company we spoke to a lady that refused to provide her name, according to her for her safety as well as the company safety. This lady was so rude and suspicious, she only stated that due to express orders of her superiors can not pass calls from strangers and less provide any email address. She said that would transfer our call only when we provided her a contact name within the company and if that particular person accepted to take our call. Through external information sources we could learn the following details about the company: The company Bel Manufacturera S.A. de C.V. operates at caption address, which was formerly known as Santiago Troncoso; It was established on September 15, 1993 in the city of Ciudad Juarez, Chihuahua. This company is engaged in the maquila (contract manufacturing service) of metal products for electrical wiring. The company is a subsidiary of Hubbell, Inc. and in Mexico is related to: -Hubbell de Mexico S.A. de C.V. - RFC: HME9107191Z6, company based in Mexico City and which has phone number: (55) 91519999. We found that in the same address operates or operated the company Bell Eléctricos # 4 S.A. de C.V. but declined to provide details of this company. In short this is all the information we could obtain about the subject company , as mentioned earlier refused to co-operate with us and even to pass our calls to accounting area or some other department.  

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.73

UK Pound

1

Rs.88.61

Euro

1

Rs.71.34

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.