MIRA INFORM REPORT

 

 

Report Date :

04.04.2013

 

IDENTIFICATION DETAILS

 

Name :

AVID TECHNOLOGY INTERNATIONAL B.V. 

 

 

Registered Office :

Carmanhall Road, Sandyford Business Centre, Dublin 18 733310

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2001

 

 

Date of Incorporation :

11.08.1993

 

 

Com. Reg. No.:

IE903369

 

 

Legal Form :

Private Company

 

 

Line of Business :

Not available 

 

 

No. of Employees :

65 (2001)

 

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 :

Moderate  

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Unknown

 

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)

Ireland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

IRELAND - ECONOMIC OVERVIEW

 

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis, with GDP falling by over 3% in 2008, nearly 7% in 2009, and less than 1% in 2010. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property and construction markets. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become a key component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the banking sector. In late 2010, the former COWEN Government agreed to a $112 billion loan package from the EU and IMF to help Dublin further increase the capitalization of its banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland achieved moderate growth in 2011 and cut the budget deficit to 10.1% of GDP, although the recovery is expected to slow in 2012 as a result of the euro-zone debt crisis.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name

AVID TECHNOLOGY INTERNATIONAL B.V.

Company Number

IE903369

Registered Address

CARMANHALL ROAD

 



 

SANDYFORD BUSINESS CENTRE

 

 

DUBLIN 18

 

 

733310

 

Website Address

-

 

 

Telephone Number

(01)2950066

Fax Number

 

TPS

No

FPS

No

Incorporation Date

11/08/1993

Company Status

Insufficient Information

Previous Name

 

Type

Other

Date of Change

-

Filing Date of Accounts

-

 

 

Share Capital

-

SIC03

72XX

Currency

 

SIC03 Description

 

SIC07

 

SIC07 Description

 

Principal Activity

 

 

 

 

 

DIRECTORS/MANAGEMENT

 

Previous Director/Company Secretaries

No Previous Director Details

NEGATIVE INFORMATION

 

CJ

Total Number of Exact CJs -

0

Total Value of Exact CJs -

€0

Total Number of Possible CJs -

0

Total Value of Possible CJs -

€0

Total Number of Satisfied CJs -

0

Total Value of Satisfied CJs -

€0

 

Exact CJ Details

There are no exact CJ details

 

Possible CJ Details

There are no possible CJ details

 

Writ Details

There are no Writ details

 

Mortgage Summary

Outstanding

2

Satisfied

0

 

Mortgage Type:

DEBENTURE.

Date Charge Created:

11/10/10

 

 

Date Charge Registered:

22/10/10

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

WELLS FARGO CAPITAL FINANCE, LLC

Amount Secured:

 

Details:

THE COMPANY COVENANTED THAT IT WOULD ON DEMAND BY THE SECURITY TRUSTEE DISCHARGE THE SECURED OBLIGATIONS AND UNDERTOOK TO PAY TO THE SECURITY TRUSTEE EVERY SUM (OF PRINCIPAL, INTEREST OR OTHERWISE) NOW OR THEREAFTER OWING, DUE OR INCURRED BY THE COMPANY IN RESPECT OF THE SECURED OBLIGATIONS. (CONTINUED ON FORM 8E)

 

Mortgage Type:

CHARGE.

Date Charge Created:

30/07/01

 

 

Date Charge Registered:

01/08/01

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

ALLIED IRISH BANK PLC

Amount Secured:

 

Details:

ALL SUCH SUMS AS ARE NOW OR SHALL FROM TIME TO TIME HEREAFTER BECOME OWING BY THE COMPANY TO ALLIED IRISH BANKS, P.L.C. IN ANY MANNER WHATSOEVER

 

PAYMENT INFORMATION

 

Payment Information Summary

Days Beyond Terms

Trend Indicator

Average Payment Experience

 

 

N/A

10

Company
DBT

IE Average
DBT

Steady

   

Improving Worsening

Be the first to leave a payment experience
for this company


Within Terms 91+ Days

 

 

Creditor Details

No Creditor Data

 

Total Value

-

 

Trade Debtors / Bad Debt Detail

No Debtor Data

 

Total Value

-

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2001

-

-

€16,219,000

65

31/12/2000

-

-

€35,227,000

-

 

Balance Sheet

 

Date Of Accounts

31/12/01

(%)

31/12/00

(%)

-

(%)

-

(%)

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Tangible Assets

€19,640,000

-0.8%

€19,805,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Intangible Assets

0

-

0

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Fixed Assets

€19,640,000

-0.8%

€19,805,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Stock

€6,766,000

44.8%

€4,674,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Trade Debtors

€3,545,000

-39.2%

€5,828,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Cash

€10,059,000

-38.6%

€16,375,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Debtors

0

-

0

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Miscellaneous Current Assets

€29,693,000

-25.9%

€40,059,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Current Assets

€50,063,000

-25.2%

€66,936,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Trade Creditors

€42,022,000

5.7%

€39,743,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Bank Loans & Overdrafts

0

-

0

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Short Term Finance

0

-

0

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Miscellaneous Current Liabilities

€11,461,000

-2.6%

€11,771,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Current Liabilities

€53,483,000

3.8%

€51,514,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Bank Loans & Overdrafts and LTL

0

-

0

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Long Term Finance

0

-

0

-

0

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Long Term Liabilities

0

-

0

-

-

-

-

-

-

 

Capital & Reserves

 

Date Of Accounts

31/12/01

(%)

31/12/00

(%)

-

(%)

-

(%)

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Called Up Share Capital

€131,000

-5.8%

€139,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

P & L Account Reserve

-€4,006,000

-126.7%

€15,002,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Revaluation Reserve

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Sundry Reserves

€20,094,000

0%

€20,086,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Shareholder Funds

€16,219,000

-54%

€35,227,000

-

-

-

-

-

-

 

Other Financial Items

 

Date Of Accounts

31/12/01

(%)

31/12/00

(%)

-

(%)

-

(%)

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Worth

€16,219,000

-54%

€35,227,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Working Capital

-€3,420,000

-122.2%

€15,422,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Assets

€69,703,000

-19.6%

€86,741,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Liabilities

€53,483,000

3.8%

€51,514,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Assets

€16,220,000

-54%

€35,227,000

-

-

-

-

-

-

 

Miscellaneous

 

Date Of Accounts

31/12/01

(%)

31/12/00

(%)

-

(%)

-

(%)

-

 

Contingent Liability

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Capital Employed

€16,219,000

-54%

€35,227,000

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Number of Employees

65

-

-

-

-

-

-

-

-

 

Ratios

 

Date Of Accounts

31/12/01

31/12/00

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Pre-tax profit margin %

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Current ratio

0.94

1.30

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Sales/Net Working Capital

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Gearing %

0

0

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Equity in %

23.30

40.60

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Creditor Days

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Debtor Days

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Liquidity/Acid Test

0.81

1.21

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return On Capital Employed %

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return On Total Assets Employed %

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Current Debt Ratio

3.30

1.46

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Debt Ratio

3.30

1.46

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Stock Turnover Ratio %

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return on Net Assets Employed %

-

-

-

-

 

 

ADDITIONAL INFORMATION

 

 

Auditors

 

 

Auditor Comments

No Adverse Comments

 

Bankers

ALLIED IRISH BANK

 

Bank Branch Code

93-13-65

 

Status History

No Status History found

 

Event History

No Event History found

 

Previous Company Names

No Previous Names found

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.39

UK Pound

1

Rs.82.05

Euro

1

Rs.69.59

 

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.