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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SAVANT PHARM S.A. |
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Registered Office : |
Ruta |
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Country : |
Argentina |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
29.08.2003 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacture of Medicaments Of
Human Use Pharmaceutical Products |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Argentina |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.