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Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
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Name : |
CORTEFIEL COMMERCIAL SA |
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Registered Office : |
Rue de Romont 10, 1700 Fribourg/FR |
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Country : |
Switzerland |
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Date of Incorporation : |
17.02.1998 |
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Com. Reg. No.: |
217.0.138.651-3 / 435635 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
engaged in trading with fashions and the management of shareholdings in other companies, especially for the Cortefiel group. |
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No. of Employees : |
01 to 09 employees |
RATING & COMMENTS
|
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 : |
Moderate |
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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) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
switzerland ECONOMIC OVERVIEW
Switzerland is
a peaceful, prosperous, and modern market economy with low unemployment, a
highly skilled labor force, and a per capita GDP among the highest in the world.
Switzerland's economy benefits from a highly developed service sector, led by
financial services, and a manufacturing industry that specializes in
high-technology, knowledge-based production. Its economic and political
stability, transparent legal system, exceptional infrastructure, efficient
capital markets, and low corporate tax rates also make Switzerland one of the
world's most competitive economies. The Swiss have brought their economic
practices largely into conformity with the EU's to enhance their international
competitiveness, but some trade protectionism remains, particularly for its
small agricultural sector. The fate of the Swiss economy is tightly linked to
that of its neighbors in the euro zone, which purchases half of all Swiss
exports. The global financial crisis of 2008 and resulting economic downturn in
2009 stalled export demand and put Switzerland in a recession. The Swiss
National Bank (SNB) during this period effectively implemented a zero-interest
rate policy to boost the economy as well as prevent appreciation of the franc,
and Switzerland's economy recovered in 2010 with 3.0% growth. The sovereign
debt crises currently unfolding in neighboring euro-zone countries pose a
significant risk to Switzerland's financial stability and are driving up demand
for the Swiss franc by investors seeking a safe-haven currency. The independent
SNB has upheld its zero-interest rate policy and conducted major market
interventions to prevent further appreciation of the Swiss franc, but
parliamentarians have urged it to do more to weaken the currency. The franc's
strength has made Swiss exports less competitive and weakened the country's
growth outlook; GDP growth fell to 1.9% in 2011 and 0.8% in 2012. Switzerland
has also come under increasing pressure from individual neighboring countries,
the EU, the US, and international institutions to reform its banking secrecy
laws. Consequently, the government agreed to conform to OECD regulations on
administrative assistance in tax matters, including tax evasion. The government
has renegotiated its double taxation agreements with numerous countries,
including the US, to incorporate the OECD standard, and is considering the
possibility of imposing taxes on bank deposits held by foreigners. These steps
will have a lasting impact on Switzerland's long history of bank secrecy.
Source : CIA
Cortefiel Commercial SA
Rue de Romont 10
1700 Fribourg/FR
Switzerland/CH
Telephone: 026
3410980
Fax: 026
3471631
Web
site: www.grupocortefiel.com
E-mail: info@grupocortefiel.com
VAT-No.: CHE104231645
Established: 1998
Line
of Business: Consumer goods wholesale,
Financial services
Industry
Division: Wholesale trade,
Services
Industry-code (NACE): 4642 Wholesale of clothing and footwear
6420 Activities of holding companies
Import/Export: Import
Banks: unknown
Coverage: Company
Employees: 1-9
The business activities includes trading with fashions and the management of shareholdings in other companies, especially for the Cortefiel group. Brands: CORTEFIEL, SPRINGFIELD, Pedro del Hierro, Women'secret.
Information on property ownership was not available.
Company
No: 217.0.138.651-3 /
435635
Legal
form: Company limited
by shares
Registration: 17.02.1998
Legal
status: active
Responsible
Register: Handelsregister des
Saane-Bezirkes (FR)
History: Date of Incorporation
Statutes: 28.12.1998
Date of
Statutes: 13.12.2005
Date of
Statutes: 23.02.1999
Entry Deleted Name
active Cortefiel
Commercial SA
active Cortefiel
Commercial AG (Name translated)
active Cortefiel
Commercial Ltd (Name translated)
Entry Deleted Legal domicile
active Fribourg,
Switzerland
Entry Deleted Address
18.07.2000 Rue
de Romont 10, 1700 Fribourg/FR, Switzerland/CH
14.10.1999 c/o Etude de Mes Thiebaud & von der Weid,
Rue de Romont 35, 1700 Fribourg/FR, Switzerland/CH
14.10.1999 18.07.2000 c/o Lenz & Staehelin, Rue de Romont 35,
1700 Fribourg/FR, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 5,000,000, paidup CHF 5,000,000
Entry Deleted Capital Structure
active 50,000
Registered shares of CHF 100.--
Entry Deleted Activity (original Language)
16.12.2005 Achat,
vente, transport et commerce en général de vêtements et textiles en tous genres
et des accessoires y relatifs; peut fournir des conseils et des services en relation
avec son but, notamment dans les domaines du management, du franchising, de la
révision, du contrôle, des études de marché et de développement de projets, en
particulier en faveur de sociétés du groupe Cortefiel; peut constituer des
succursales et des filiales en Suisse et à l'étranger et participer à d'autres
entreprises en Suisse et à l'étranger; peut exercer toutes activités
commerciales, financières et autres en rapport avec son but; peut également,
dans l'intérêt du groupe auquel elle appartient, emprunter auprès de tiers et
accorder des prêts ou autres financements directs ou indirects à des sociétés
du groupe auquel elle appartient, y compris des actionnaires directs ou
indirects de la société ou d'autres sociétés dont ceux-ci détiennent des actions,
ainsi que fournir toutes sûretés pour garantir les obligations desdites
sociétés, notamment par l'émission de garanties, caution, constitution de
gages, transfert de propriété aux fins de garantie, cession de créance aux fins
de garantie ou émission de toutes autres garanties, de quelques natures que ce
soit, avec ou sans rémunération.
16.12.2005 Achat,
vente, transport et commerce en général de vêtements et textiles en tous genres
et des accessoires y relatifs; fournir des conseils et des services en relation
avec son but, notamment dans les domaines du management, du franchising, de la
révision, du contrôle, des études de marché et de développement de projets, en
particulier en faveur de sociétés du groupe Cortefiel.
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Shares:
Restriction de transmissibilité des actions.
active Reports:
Communication aux actionnaires: lettre.
Title Name
President Juan Carlos
Escribano Garcia, Origin: Spain, Residential address: Madrid, Spain, joint
signature of two, Registered since: 13.08.2009
Company
Secretary Luke Henri
Gillon, Origin: Châtonnaye, Le Châtelard, Switzerland, Residential address:
1752 Villars-sur-Glâne/FR, Switzerland, joint signature of two, Registered
since: 30.08.2007
Director Bruno
Mock, Origin: Zürich, Herisau, Switzerland, Residential address: 8700
Küsnacht/ZH, Switzerland, joint signature of two, Registered since: 09.06.2000
Title Name
Auditor Deloitte AG,
Residential address: Basel, Switzerland, Id: CH-270-9000077-0
Title Name
Chief
Executive Officer Bruno
Mock
Name: Cortefiel SA
City/Country: Madrid, Spain/ES
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: direct, Group-Level
1
Name: Cortefiel SA
City/Country: Madrid, Spain/ES
Interest: 100,00% voting right,
100,00% capital interest
It is believed that the company has no investments.
Control date Year No. Amount CHF Status
11.11.2008 2008 0
11.11.2008 2007 0
11.11.2008 2006 0
An updated legal action check is only
available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is in order.
Payment
experiences: Financial obligations are
met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
UK Pound |
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.