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Report Date : |
20.12.2013 |
IDENTIFICATION DETAILS
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Name : |
CANDU ENERGY INC. |
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Formerly Known As : |
7895907 CANADA INC. |
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Registered Office : |
2285 Speakman Dr., Mississauga, Ontario L5K 1B1 |
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Country : |
Canada |
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Date of Incorporation : |
17.06.2011 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
· Subject is a service nuclear technology company providing nuclear power reactors and nuclear products and services to customers worldwide. Subject develops products to deliver safe, reliable,
affordable and CO2-free energy with a view to the future, while meeting the
global nuclear industry’s highest safety and regulatory standards. |
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No. of Employees : |
1,400 |
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
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Canada |
A1 |
A1 |
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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 |
Canada ECONOMIC OVERVIEW
As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector''s tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-12 and plans to balance the budget by 2015. In addition, the country''s petroleum sector is rapidly becoming an even larger economic driver with Alberta''s oil sands significantly boosting Canada''s proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.
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Source : CIA |
Company name: CANDU ENERGY INC. (in English)
CANDU
ENERGIE INC. (in French)
Headquarters: 2285 Speakman Dr., Mississauga,
Ontario L5K 1B1 - Canada
Telephone: +1
905-823-9040
Fax: +1 905-823-1290
Website: www.candu.com
Corporate ID#: 7895097
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 06-17-2011
Stock: -
Value: -
Name of manager: Phil
GUSELLE
History:
On 06-29-2011, name changed
from 7895907 CANADA INC.
Business:
Candu Energy Inc. is a leading full-service nuclear technology company
providing nuclear power reactors and nuclear products and services to customers
worldwide.
Its 1,400 highly skilled employees design and deliver state-of-the-art
CANDU® reactors, carry out life extension projects, provide plant life
management programs and tools, and offer operation and maintenance services
for existing nuclear power stations.
CANDU® reactors supply approximately 50% of Ontario’s electricity and
16% of Canada’s overall electricity requirements. Internationally, they are an
important component of clean air energy programs on four continents with over
22,000 megawatts of installed capacity.
Candu Energy Inc. develops products to deliver safe, reliable,
affordable and CO2-free energy with a view to the future, while meeting the
global nuclear industry’s highest safety and regulatory standards.
Candu Energy Inc. is a wholly-owned subsidiary of SNC-Lavalin Inc.
Staff: 1,400
Operations & branches:
At above address, we find
the corporate headquarters.
The Company maintains a branch located:
455 Rue Rene-Levesque Ouest, 15th floor
Montreal, Quebec H2Z 1Z3
Canada
Shareholders:
SNC-LAVALIN INC.
455 Rue Rene-Levesque Ouest
Montreal, Quebec H2Z 1Z3 – Canada
SNC-Lavalin Inc. provides engineering and construction, and operations and
maintenance services. It offers civil, structural, electrical engineering,
project management, and facilities management services.
Which is a wholly
owned subsidiary of:
SNC-LAVALIN GROUP INC.
455 Rue Rene-Levesque Ouest
Montreal, Quebec H2Z 1Z3 – Canada
SNC-Lavalin Group Inc. provides engineering and construction, and
operations and maintenance services worldwide.
The company undertakes various infrastructure projects, such as airports,
buildings, health and care, educational and recreational facilities, seaports,
marine and ferry terminals, flood control and urban transit systems, railways,
roads and bridges, and water and wastewater treatment, and distribution
facilities; and environmental projects, such as social and environmental site
assessments and studies, community engagement, remediation and reclamation,
ecological and human health risk assessments, marine and coastal management,
geo-environmental services, climate change, air quality and acoustics,
geographic information systems, and agriculture and rural development.
The Company is listed with the Toronto Stock Exchange under symbol SNC.
Management:
Phil GUSELLE is acting as
President and General Manager.
The Board of Directors
include Michael COATES, Michael MACKEY,
Robert NIXON, Scott William THON, and Gerry GRIGOROPOULOS.
Subsidiaries And Partnership:
None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report and confirmed that all
financials are consolidated into the parent company with reported the
following:
|
Currency in |
As of: |
Dec
31 CAD |
Dec
31 |
Dec
31 |
Dec
31 |
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TOTAL REVENUES |
6,101.7 |
5,993.9 |
7,209.9 |
8,091.0 |
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NET INCOME |
359.4 |
476.7 |
378.8 |
309.1 |
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Banks: Banque du Canada
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Trade references:
Date reported: November 2013
High credit: CAD 50,000+
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Office supply
Paying status: On terms
Date reported: November 2013
High credit: CAD 1,800,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Payroll
Paying status: As agreed
Date reported: November 2013
High credit: CAD 3,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on due date.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains a
regular business.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.38 |
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UK Pound |
1 |
Rs.102.15 |
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Euro |
1 |
Rs.85.29 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
-- |
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.