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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
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Name : |
INDUSNOR S.A.
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Registered Office : |
Murillo 749 Buenos Aires City |
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Country : |
Argentina |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
August 1986 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacturer of weaving products |
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No. of Employees : |
Not Available |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Argentina |
B1 |
B1 |
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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 |
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 formal and informal
measures to restrict imports during the year, including a requirement for
pre-registration and 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.
|
Source : CIA |
INDUSNOR S.A.
* D.G.I.
C.U.I.T. 30-61048807-9
OPERATE FROM 1986. BEGINNER OF ACTIVITIES.
BALANCE SHEET AS 30/04/2012. NO NEGATIVE. FIT FOR CREDIT IN RELATION TO YOUR
RESOURCES KNOWN.
> MANUFACTURE OF WEAVING PRODUCTS
Legal form:
Public limited
company
Created: August 1986
Registered R.P.C. 15/09/1986
Registry: Tomo 30 Fo. 151 No. 22
End of fiscal year: 99
years
AFIP nro 802 de Pedernera 509 de Villa
Mercedes San Luis.
ADMINISTRATION:
OPERATIVE ADDRESS: MURILLO 749 BUENOS AIRES CITY, REPUBLIC OF ARGENTINA.
PHONE. 54.11. 4858.8400
Fax 4858.8440
* President
WEISER RUBEN ARIEL
* Vicepresident GOMEZ
EDGARDO
* Director HERRERA
DANIEL ANIBAL
* Alternate director SCURNIK
ENRIQUE A.
Using of signature: President.
Integrated Shares $ Shares
Common v $ n 100 with right-
cho to one vote per share. 10,000 10,000
====== ======
It addresses exploitation of the textile,
textured polyester continuous fiber yarn, marketing.
They kicked off the activities in 1986. -
Balance sheet as 30/04/2011 and 2012
expressed in pesos argentinos.
30.04.2011
30.04.2012
Cash and investments, credits and
others
34.919.193 37.098.615
Inventories 8.472.742
8.320.422
Assets current 43.391.935
45.419.037
Assets non current 460.321
1.333.321
Total Assets 43.852.256
46.752.358
Debts
19.029.041 17.625.528
Salaries and social security 697.113 923.249
Liabilities current 19.726.154 18.548.777
Liabilities non-current 750.173
776.247
Total Liabilities 20.476.327
19.325.024
Net worth 23.375.929
27.427.334
Total
43.852.256 46.752.358
Net sales 104.895.918
118.161.072
Cost sales -98.497.829
-103.998.825
Gain
6.398.089 14.162.247
Marketing expenses -1.151.429
-1.731.033
Administrative expenses -1.964.043 -3.686.730
Sub total
3.282.617 8.744.484
Other income and expenses 888.767 -4.693.079
FINAL RESULT 4.171.384
4.051.405
* COAFI S.A.
To carry out the activities of the title are
located in industrian plant in the province of San Luis.
Well presented spacious facilities.
Stock of raw materials and merchandise Bouquet important value.
Collaborate highly trained in the industry.
The beneficiaries of the agreements to improve competitiveness and employment
generation.
Starring satisfactory overall.
INDUSTRIAL PLANT: Ruta 148, Km. 754.5 de
Villa Mercedes, province San Luis.
Phone. 02657 - 42. 2459.-
* BBVA BANCO FRANCES S.A.
Branch Villa Mercedes
CREDIT RISK
SEPTEMBER 2013
--------------
BANCO
INDUSTRIAL $ 17.759.400
CMF S.A. 10.876.700
BANCO MACRO 7.958.900
BANCO CREDICOOP 2.745.500
HSBC
1.946.300
ICBC
1.681.800
AMERICA EXPRESS 187.400
SITUATION 1: NORMAL.
JUDICIAL DATA:
--------------
Tienen un juicio Actor: FANGALA S.A. con domicilio en calle Arieta 3844 de San
Justo, Provincia de Buenos Aires, por un monto de $ 10.380,43.
Tramitado en el Juzgado Avda R.S.Peña 1211 piso 7 Buenos Aires, Juez Dr.
Garibotto Juan Roberto Secretaria de la Dra. Lage Paula Elena.
con fecha del juicio 16 de junio de 2011.-
Juzgado Ordinario 002 Secretaria 003 Exp. 018046/1
Otro juicio de fecha 9 de junio de 2011.
Actor: FIANZAS Y CREDITO S.A. CIA DE SEGUROS
Observaciones: El expediente fue paralizado bajo el legajo 1097 del 27 de enero
de 2012
Domicilio del Juzgado Avda Callao 635 piso 4 de la Ciudad de Buenos Aires
Interviene el Juez
Robedo Horacio.-
Se desconocen motivos de paralizacion. Posiblemente llegaron a un acuerdo de
pago.
Juicio Ordinario Juzgado 025 Secretaria 049, Expediente Nro. 017232 Causa
57922.-
The checks carried out around the payment
behavior of the owner, to the present indicate that properly meets its trade
commitments.
The two judgments registered do not harm your business image.
* CONCEPT WITHOUT QUESTIONING.
Given the absence of negative history that
harm, as well as the solid financial structure that reflect their past
balances, the credit entailment ago recommended with this company, in amounts
commensurate with their resources.
* SUITABLE FOR CREDITS
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
UK Pound |
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
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 |
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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 |
-- |
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.