MIRA INFORM REPORT

 

 

Report Date :

24.04.2013

 

IDENTIFICATION DETAILS

 

Name :

ME SALVE INC.

 

 

Registered Office :

Carretera 5 km. 4, Bº Palmas, Catano, San Juan

 

 

Country :

Puerto Rico

 

 

Year of Establishments:

1981

 

 

Legal Form :

Company Incorporated

 

 

Line of Business :

chain of retail stores

 

 

No. of Employees :

2000

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate  

 

 

Payment Behaviour :

Unknown

 

 

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)

Puerto Rico

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Puerto Rico ECONOMIC OVERVIEW

 

Puerto Rico has one of the most dynamic economies in the Caribbean region, however, growth has been negative for the past four years, and unemployment rose to nearly 16% in 2011. The industrial sector has surpassed agriculture as the primary locus of economic activity and income. Mainland US firms have invested heavily in Puerto Rico since the 1950s. US minimum wage laws apply. Sugar production has lost out to dairy production and other livestock products as the main source of income in the agricultural sector. Tourism has traditionally been an important source of income with estimated arrivals of more than 3.6 million tourists in 2008. Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government.

 

Source : CIA

 

Registered Name

 

ME SALVE INC.

 

 

Summary

 

BEGINNER OF ACTIVITIES. INCORPORATED IN 1981. NOT PROVIDED FINANCIAL INFORMATION TO THIRD PARTIES. NO NEGATIVE REGISTERED. FIT FOR OPERATIONS OF CURRENT IMPORTANCE WITH ADDITIONAL SECURITIES.

 

 

Operations

 

BIG STORES - COMERCIALIZATION OF ARTICLES MISCELLANEOUS CLOTHING AND HOUSEHOLD.

 

 

Legal Structure

 

LEGAL FORM:             COMPANY INCORPORATED
CREATED:                   1981
REGISTERED RPC:     1981
DURATION:                  UNLIMITED
END OF FISCAL YEAR: 31.12

 

 

Contact       

 

Legal and dependences operatives centrals address:

Carretera 5 km. 4, Bº Palmas, Catano, San Juan, Puerto Rico.

Phone. 1787 788 3762/622 9400
E.Mail: ccruz@mesalve.com
Web:    www.mesalve.com

 

 

Partners     

 

MANAGERS:
========
* CATHERINE CRUZ
* AURIA REYES

Uso de firma: Se encuentra a cargo de las ante citadas en forma individual.

 

History   

 

Reference activities were initiated and implemented by the company in the course of 1981, which since its inception is in front of them as the only responsible.

It is a chain of retail stores in Puerto Rico most important, with greater presence in all the towns that make up the island.

Commercialization covers apparel for babies, children, men - ladies and various household products.

 

 

Economic-Financial Position   

 

The company officials have declined to provide information as accounting.

They close their exercises to 31.12

 

 

Assets     

 

It transcends the company owns 50% of the properties affected the development of the operations.

 

 

Evolution and Results       

 

Trade is of significant importance, with major operational infrastructure, serving 2000 employees in the care of different tasks.

To date their action has remained within normal lanes and assigned stable outlook.

It has made ??important clientele, performing operations at the local level.

FOREIGN TRADE:
--------------
Import from CHINA, INDIA, USA and others countries.

HABITUAL SUPPLIERS:
===================
SPARKLE PRODUCTS (SOUTHAFRICA)
COTY US LLC (USA)

* 2000 EMPLOYEES.

 

 

Branches     

 

-Carretera 3, Ave.Barbosa en Rio Piedras,
San Juan, Puerto Rico.

-Avda.Barioty de Castro, Local 5, San Juan,
Puerto Rico.

-Avda.Borinquen 2270, Bº Obrero, San Juan,
Puerto Rico.

-Avda.La Cumbre int. 100, San Juan, P.Rico.

-1954 calle Loiza en Santurce, San Juan,
Puerto Rico.

-Montehiedra Shopping local A-10, San Juan,
Puerto Rico.

-Paseo de Diego 68 en R.Piedras, San Juan,
Puerto Rico.

-De Diego 108, Rio Piedras, San Juan, P.Rico.

-Local 23 Americo Miranda, R.Piedras, San
juan, P.Rico.

-Carretera estatal2, Aguadilla, P.Rico.

-Plaza Ferram., Aguadilla, P.Rico.

-Rafael Lasa 30, Aguas Buenas, P.Rico.

-Albonito Shopping, Albonito, P.Rico.

-Carretera 2 km. 143,3 Bº Caracol.

-Arecibio Shopping, Arecibo, P.Rico.

-Carretera 2 km. 80,4 local 27, Arecibo.

-Jose De Diego, Arecibo, P.Rico.

-Aguada Shopping, Aguada, P.Rico.

-Bayamon, P.Rico.

-Barranquillas, P.Rico.

-Cabo Rojo, P.Rico.

-Caguas. P.Rico.

-Canovanos, P.Rico.

-Carolina, P.Rico.

-Coamo, P.Rico.

-Comerio, P.Rico.

-Dorado, P.Rico.

-Fajardo, P.Rico.

 

 

Payment Record and Credit Risk      

 

BANCO POPULAR DE PUERTO RICO
SCOTIA BANK
BANCO SANTANDER

INSURANCE:
----------
MAPFRE S.A.

 

 

Concept       

 

It maintains operations with local supplier companies, most of them give its support, from where has come making use.

Nevertheless, until present it doesn't register negative elements that could affect its concept.  

* FULFILLMENT: NOT OBJECTED

 

 

Final Opinion    

 

 

According to what was exposed, the company is feasible for credits of current importance amounts and additional securities.  

* FIT FOR OPERATIONS OF CURRENT IMPORTANCE  

BTDL

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.30

UK Pound

1

Rs.82.88

Euro

1

Rs.70.80

 

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%)