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Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
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Name : |
MURRAY FOOD PRODUCTS |
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Registered Office : |
Juan Francisco Segui 4430 5º 34, Buenos Aires City |
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Country : |
Argentina |
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Year of Establishments: |
1993 |
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Legal Form : |
Unistaff |
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Line of Business : |
Subject is engaged in sourcing and marketing of food products, especially garlic, rice, spices, dried fruits, preserved hortgalizas, vegetables, honey, medicinal plants and related items |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Argentina |
B1 |
B1 |
|
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 |
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 an unprecedented 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 -
at the time the largest ever - 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 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 in 2010
rebounded strongly from the 2009 recession, but has slowed since late 2011 even
as the government continued to rely on expansionary fiscal and monetary
policies, which have kept inflation in the double digits. The government
expanded state intervention in the economy throughout 2012. In May the Congress
approved the nationalization of the oil company YPF from Spain's Repsol. The
government expanded import-restrictive measures and practices during the year,
including a pre-approval of all imports. In July the government also further
tightened currency controls in an effort to bolster foreign reserves and stem
capital flight.
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Source : CIA |
JUAN FERNANDO MURRAY
"MURRAY FOOD PRODUCTS"
C.U.I.T. Nº 20-15279641-3
BEGINNER OF
ACTIVITIES, INCORPORATED IN 1993. NO FINANCIAL DATA PROVIDED ONLY TO BANKS AND
TAX COMPTROLLERS. NO NEGATIVE. APT FOR MODERATE CREDITS WITH ADDITIONAL
GUARANTEES.
ADVICE AND
BROKERAGE SERVICES TRADE OPERATIONS.
LEGAL FORM:
UNISTAFF
CREATED: 1993
DURATION: UNLIMITED
Legal and
dependences operatives address: Juan Francisco Segui 4430 5º 34, Buenos Aires
City, REPUBLIC of ARGENTINA.
Phone. 54-11 4773-9142/4777-1642
Argentina,
married, born 20 may 1951, DNI. 15.279.641.
It is worth
mentioning that the holder has declined in strict form providing information
and what is presented in this review is a product of efforts redalizadas
through third parties.
It began operations in 1993, and since then and since then is at the forefront
of efforts as solely responsible.
The company is engaged in sourcing and marketing of food products, especially
garlic, rice, spices, dried fruits, preserved hortgalizas, vegetables, honey,
medicinal plants and related items.
Unable to
obtaining accounting elements of any kind.
Inquiries made ??through third parties have determined that it operates within
a sphere of moderate importance without difficulties noted in his performance.
Within the above guidelines are considered stable outlook.
Operates within
the aforementioned items, centralizing operations in the direction of the
signs.
So far we have seen no adverse history in their actions and who were asked, admit
that within these guidelines are considered stable prospects.
* 2 EMPLOYEES
BANCO DE GALICIA Y
BUENOS AIRES
CREDIT RISK
FEBRUARY 2013
BANCO DE GALICIA $ 7.300
AMEX $ 4.000
Situation 1, normal.
Until present,
there is no register of judicial, nor petition nor trails, that could affect
the company's concept.
* NEGATIVE RECORDS ARE NOT REGISTERED
According to what
was exposed the company is feasible for credit treatment of amounts according
to its importance on the sector.
* FIT FOR CREDIT OPERATIONS
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
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UK Pound |
1 |
Rs.83.88 |
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Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
---- |
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%)