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Report Date : |
10.08.2013 |
IDENTIFICATION DETAILS
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Name : |
INKABOR S.A.C. |
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Registered Office : |
Italia 101 Parque Industrial Río Seco, Cerro Colorado Arequipa |
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Country : |
Peru |
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Date of Incorporation : |
03.01.1985 |
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Legal Form : |
Closely-held Corporation |
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Line of Business : |
Coal Mining. (Coal extraction, Bituminous, related services.) |
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No. of Employees : |
200 |
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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Peru |
A2 |
A2 |
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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 |
PERU - ECONOMIC OVERVIEW
Peru's economy reflects its varied geography - an arid
lowland coastal region, the central high sierra of the Andes, the dense forest of
the Amazon, with tropical lands bordering Colombia and Brazil. A wide range of
important mineral resources are found in the mountainous and coastal areas, and
Peru's coastal waters provide excellent fishing grounds. The Peruvian economy
has been growing by an average of 6.4% per year since 2002 with a
stable/slightly appreciating exchange rate and low inflation, which in 2013 is
expected to be below the upper limit of the Central Bank target range of 1 to
3%. Growth has been in the 6-9% range for the last three years, due partly to a
leap in private investment, especially in the extractive sector, which accounts
for more than 60% of Peru's total exports. Despite Peru's strong macroeconomic
performance, dependence on minerals and metals exports and imported foodstuffs
subjects the economy to fluctuations in world prices. Poor infrastructure
hinders the spread of growth to Peru's non-coastal areas. Peru's rapid
expansion coupled with cash transfers and other programs have helped to reduce
the national poverty rate by 23 percentage points since 2002, but inequality
persists and continues to pose a challenge for the new Ollanta HUMALA
administration, which has championed a policy of social inclusion and a more
equitable distribution of income. Peru's free trade policy has continued under
the HUMALA administration; since 2006, Peru has signed trade deals with the US,
Canada, Singapore, China, Korea, Mexico, Japan, the European Free Trade
Association, Chile, and four other countries; concluded negotiations with Venezuela,
Costa Rica, and Guatemala; and begun trade talks with two other Central
American countries and the Trans-Pacific Partnership. Peru also has signed a
trade pact with Chile, Colombia, and Mexico called the Pacific Alliance that
rivals Mercosur in combined population, GDP, and trade. The US-Peru Trade
Promotion Agreement entered into force 1 February 2009, opening the way to
greater trade and investment between the two economies. Although Peru has
continued to attract foreign investment, political activism and protests are
hampering development of some projects related to natural resource extraction.
Source
: CIA
IDENTIFICATION
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CORRECT COMPANY NAME |
INKABOR S.A.C. |
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TRADE NAME |
INKABOR |
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TAXPAYER REGISTRATION |
RUC 20327397258 |
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MAIN ADDRESS |
Italia 101 Parque Industrial Río Seco,
Cerro Colorado |
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DEPT/PROV/REGION/STATE |
Arequipa / Arequipa |
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COUNTRY |
PERU |
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TELEPHONE |
(5154) 444400 |
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CORPORATE E-MAIL |
jzevallos@inkabor.com/info@inkabor.com |
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WEB |
www.inkabor.com |
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COMMENTS |
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Otro e-mail: yanina.paredes@inkabor.com magda.merma@inkabor.comOrder was requested without an address. |
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NOTE |
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The address on your order is an uncomplete
and incorrect spelling address, the correct and complete address is as
above-mentioned. |
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LEGAL STRUCTURE
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LEGAL STATUS |
Closely-held Corporation |
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DATE OF INCORPORATION |
03JAN1985 |
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PLACE OF REGISTRY |
Lima |
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NOTARY OFFICE |
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DURATION |
Perpetual |
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REGISTRATION |
Card 9505, Entry 1-A |
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CURRENT PAID-IN CAPITAL |
S/.41,216,679.= Nuevos Soles |
LAST CAPITAL INCREASE |
2004 (merger) |
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CURRENT EXCHANGE RATE (US$) |
S/.2.74 per 1 USD |
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MEMBERSHIP |
Sociedad Nacional de Industrias - SNI |
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COMMENTS |
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Subject was incorporated on 01/03/1985 under the name of UBINAS MINING COMPANY SAC in Lima City. Founders: Carlos Rafael Zegarra Gonzales, Manuel Zegarra Edmundo Gonzales, Bernardino Wigbert Huaita Nuñez.On 05/06/1985, during Shareholders' meeting the registered office was established in Arequipa.On 07/01/2004 the MINING COMPANY UBINAS by agreement JGA merged INKABOR S.A.C. company (RUC 20369321987), which was dissolved without being liquidated, and MINING COMPANY UBINAS assumed the total of its rights and obligations.On 09/01/2004 COMPAÑIA MINERA UBINAS S.A.C change its name into the current INKABOR S.A.C.According to SUNAT, Subject is incorporating to the Tax Withholding Agent Regimen (R.S.228-2012) from 11/01/2012. |
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DIRECTORS - EXECUTIVES –
SHAREHOLDERS
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WHO IS WHO?
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MAGHERI
CUBATTOLI, FLAVIO |
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TITLE |
General Manager |
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NATIONALITY |
Peruvian |
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D.O.B. |
091965 |
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ID |
DNI 29736803 |
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ZEVALLOS
BARREDA, JUAN LUIS |
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TITLE |
Adm. & Finance Manager |
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NATIONALITY |
Peruvian |
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D.O.B. |
071970 |
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ID |
DNI 29594773 |
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GONZALES
CARDENAS, JUAN JOSE |
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TITLE |
Representative |
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NATIONALITY |
Peruvian |
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D.O.B. |
051952 |
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ID |
DNI 29305912 |
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USSEGLIO GAYTAN,
JAVIER |
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TITLE |
Finance Chief |
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NATIONALITY |
Peruvian |
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D.O.B. |
03OCT1963 |
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ID |
DNI 26249915 S/F |
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MERMA CHOQUEHUANCA,
MAGDA |
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TITLE |
General Accountant |
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NATIONALITY |
Peruvian |
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D.O.B. |
021968 |
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ID |
DNI 29337982 |
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PROFESSION |
Certified Public Accountant |
BUSINESS HISTORY
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INKABOR born in 1985, as result of the merger of seven independent boron producers acquired by the COLOROBBIA Group from Italy.Inkabor SAC belongs to the COLOROBBIA Group, it is operating in 15 countries with about 2,000 employees and is engaged in the research, extraction, processing, production and sale of materials for different industries, the ceramic industry, which is including the most important. |
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RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY
SHAREHOLDER |
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BUSINESS
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SIC Classification |
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Main activity |
Subject is engaged in the extraction and exploitation of minerals of boron including boric acid, borax, Natural borates and other boron compounds for export.It is also engaged in the manufacturing and marketing of products derived from boron to the glass industry, ceramics, agriculture, wood, paper, lubricants and pesticides.Subject has two divisions:INDUSTRIAL DIVISION: BORIC Products used in the febncaoon on LCD screens, solar panels, ceramics, cosmetics, metallurgy, terroboro, glasses, borosilicate, wood preservative, flame retardants, cellulose, corrosion inhibitors, pharmaceutical and others.AGRICULTURE DIVISION: FERTIBAGRA is a boron-based fertilizer for the quality, proven action, performance and profitability. It is characterized by increasing production and improving the culture quality. Product recommended for organic agriculture.Certifications:- ESR- ISO 9001:2008- ISO 14001:2004- OHSAS 18001:2007 |
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O P E R A T I O N S |
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Import |
Yes |
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Country |
Bolivia, Brazil, Chile, China, Germany,
USA |
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ANNUAL Imports In US$ (CIF) |
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Export |
Yes |
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COUNTRY |
Belgium, Bolivia, Brazil, Chile, China,
Dinamaca, Germany, Indonesia Malaysia, Poland, South Africa, Spain, UK, USA |
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Annual exports in US$ (FOB) |
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% DOMESTIC PURCHASES |
Yes |
% FOREIGN PURCHASES |
Yes |
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SELLING TerritorY |
Domestic and international markets |
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EMPLOYEES |
200 (Datum 2013/05, according to SUNAT) |
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Comments |
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MINING OPERATION It consists of a boron open pit mine located at 78km, north-east of Arequipa city, Peru, near to Laguna Salinas. It is surrounded by volcanoes such as Misti and Ubinas. Deposit where Ulexite is extracted. It operates 6 months a year due to heavy rainfall season (November to April). Therefore, Subject's policy is to maintain a two years of raw materials in stock as minimum.SALINAS UNIT (Arequipa - Peru)It is fully automated and it's located at 78 km of Arequipa city, Peru. It was built with the latest technology and infrastructure, with a continuous production process. Moreover, calcined Ulexite, with different contents of B2O3 and with different grain sizes, is obtained. Boron mineral reserves are estimated on 10,000,000 metric tons RIO SECO UNIT (Arequipa - Peru)Boric Acid Plant, which began operations in 1998. Currently, it is one of the world's most modern refineries, which operates 24 hours a day. It has cutting-edge technology has within a production line of continuous process. It meets the production requirements requested by ISO 9001:2008, thus ensuring a high quality product.OQUENDO UNIT Production plant of special borates, especially sodium octaborate tetrahydrate. This plant is modern and efficient, capable to produce specific products according to the requirements of each client.
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FINANCIAL INFORMATION
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Disposition |
A: Excellent. Full information and
Financial Statements. |
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Interviewee(s) |
Terceras fuentes |
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Information provided |
All data contained in this report was obtained from indirect sources since it was not possible to obtain it from the company. No balance sheets or recent referential figures were found. We only obtained 2009 accounts, which we detail below: |
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Comments |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
A-: SATISFACTORYDespite having no financial statements available, we were informed that the company has financial support from its owners. It is well know that the company operates normally. Subject meets its obligations. |
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Sales History in US$ (of Balance Sheet, statement of third
parties) |
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Insurance Comments |
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No information related to insurances was available. |
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TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS (Confidential Information) |
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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SUPERINTENDENCY OF BANK & INSURANCE (SBS) |
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Debt structure for bank. SBS Latest
Consolidated Credit Report as of : 30/06/2013 |
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CONSOLIDATED DEBT (ALL
BANKS) ENTITIES
NUMBER : 5 30/06/2013 |
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GENERAL INFORMATION
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Explanation about commercial reputation |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.11 |
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1 |
Rs.94.77 |
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Euro |
1 |
Rs.81.54 |
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.