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Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ORAKER KERESKEDELMI ES SZOLGÁLTATO KORLATOLT FELELOSSEGU TARSASAG |
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Registered Office : |
Horváth Mihály
u. 69 3000 Hatvan |
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Country : |
Hungary |
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Financials (as on) : |
2011 |
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Date of Incorporation : |
20.11.1994 |
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Com. Reg. No.: |
1009021597 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Sale of other motor vehicles |
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No. of Employees : |
4 |
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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Hungary |
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 |
HUNGARY - ECONOMIC OVERVIEW
Hungary has made the
transition from a centrally planned to a market economy, with a per capita income
nearly two-thirds that of the EU-25 average. The private sector accounts for
more than 80% of GDP. Foreign ownership of and investment in Hungarian firms
are widespread, with cumulative foreign direct investment worth more than $70
billion. In late 2008, Hungary's impending inability to service its short-term
debt - brought on by the global financial crisis - led Budapest to obtain an
IMF/EU/World Bank-arranged financial assistance package worth over $25 billion.
The global economic downturn, declining exports, and low domestic consumption
and fixed asset accumulation, dampened by government austerity measures,
resulted in an economic contraction of 6.8% in 2009. In 2010 the new government
implemented a number of changes including cutting business and personal income
taxes, but imposed "crisis taxes" on financial institutions, energy
and telecom companies, and retailers. The IMF/EU bail-out program lapsed at the
end of the year and was replaced by Post Program Monitoring and Article IV Consultations
on overall economic and fiscal processes. The economy began to recover in 2010
with a big boost from exports, especially to Germany, and achieved growth of
approximately 1.4% in 2011. At the end of 2011 the government turned to the IMF
and the EU to obtain a new loan for foreign currency debt and bond obligations
in 2012 and beyond. Whether negotiations result in a loan depend on Hungary
meeting EU and IMF requirements for ensuring the independence of monetary,
judicial, and data privacy institutions. The EU also launched an Excessive
Deficit Procedure and requested that the government outline measures to
sustainably reduce the budget deficit to under 3% of GDP. Unemployment remained
high, at nearly 11% in 2011. Ongoing economic weakness in Western Europe is likely
to further constrain growth in 2012.
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: |
According to our experiences payments are made regularly. |
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Further Rating Information: |
Researched company is categorized as a small company. |
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Established: |
20.11.1994 |
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Registration: |
No. 1009021597 |
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Legal Form: |
27.02.1995 |
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Capital: |
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Shareholders: |
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Management: |
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Subject of Operation: |
NACE |
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Key Data:
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Workforce: |
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Imports: |
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Exports: |
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Branches: |
Branch: |
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Financials:
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Approximate Exchange Rates: |
2011: 311,13 HUF = 1 EUR |
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Financial data source: |
2011: Financials
obtained from an official source |
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Bankers: |
Kereskedelmi és
Hitelbank Zártkörűen Működő Részvénytársaság - Account no.
10403538-35313850-00000000 |
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Ratios:
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Contact With Company: |
The management confirmed the data written in the report. |
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Additional information: |
Hungarian NSB keycode: 11166788-4519-113-10. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.90 |
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1 |
Rs.87.60 |
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Euro |
1 |
Rs.70.01 |
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.