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Report Date : |
07.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SUZLON ENERGIA EÓLICA DO BRASIL LTDA |
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Registered Office : |
Avenida Senador Virgilio Távora, 195 - Bairro Meireles 60170-250 -
Fortaleza/Ce |
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Country : |
Brazil |
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Date of Incorporation : |
28.06.2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture, Sale, Installation and Maintenance of Wind Power Turbines |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Brazil |
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 |
Brazil - ECONOMIC OVERVIEW
Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% for 2011 as a whole, though forecasts for 2012 growth are somewhat higher. Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Urban unemployment is at the historic low of 4.7% (December 2011), and Brazil's traditionally high level of income equality has declined for each of the last 12 years. Brazil's high interest rates make it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchanges markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.
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Source : CIA |
SUZLON ENERGIA
EÓLICA DO BRASIL LTDA
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MAIN ADDRESS: |
AVENIDA SENADOR VIRGILIO TÁVORA, 195 - BAIRRO MEIRELES |
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ZIP CODE/CITY: |
60170-250 - FORTALEZA/CE |
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PHONE: |
85 3265-1308 |
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FAX: |
85 3265-1308 |
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E-MAIL: |
financeiro@suzlon.com |
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WEB SITE: |
www.suzlon.com |
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BRANCHES: |
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ADDRESS: |
ALAMEDA XINGÚ, 350 CONDOMÍNIO TOWER IGUATEMI - ALPHAVILLE |
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ZIP CODE/CITY: |
06455-030 BARUERI/SP |
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MAIN ACTIVITIES: |
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MANUFACTURE, SALE, INSTALLATION AND MAINTENANCE OF WIND POWER
TURBINES. |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
28/06/2006 |
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REGISTER DATE: |
28/06/2006 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
08.146.882/2001-00 |
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STATE REGISTER: |
620008471 |
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SHARE CAPITAL: |
R$ 106.526,00 |
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BOARD OF
DIRECTORS: |
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ARTHUR EUGENIO MAMMANA LAVIERI JUNIOR |
MANAGER |
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ALESSANDRA RAFFO SCHNEIDER |
MANAGER |
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CAMILO AFONSO PONTES |
MANAGER |
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MARCELO LUIS ALONSO |
MANAGER |
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JORG VAN DE KORPUT |
MANAGER |
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ROSANA RODRIGUES DOS SANTOS |
MANAGER |
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FRANK KOJI MIGIYAMA |
MANAGER |
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THE MANAGERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
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SUZLON ENERGY A/S |
64,43% |
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AE ROTOR HOLDING |
35,56% |
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AFFILIATES /
SUBSIDIARIES: |
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SUZLON GROUP. |
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THE SUBJECT WAS ESTABLISHED JUNE 28, 2006 AS BRANDEBURG PARTICIPAÇÕES
LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IT ALTERED TO
ABOVE-MENTIONED NAME AND UP TO DATE. THE INFORMED ADDRESS NUMBER "2993" IS INCORRECT. THE CORRECT
ONE IS DESCRIBED AT THE CAPTION. FURTHER DETAILS ARE SO FAR NOT KNOWN. WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE STILL WAITING
FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA NECESSARY TO
COMPLETE THIS REPORT. A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE
DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE
SENT TO YOUR ATTENTION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
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PUBLIC INFORMATION: |
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PROTESTS: |
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20 PROTESTS,TOTAL AMOUNT R$
1.722.988,39 |
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DATE OF FIRST PROTEST:
SEPTEMBER/2012 R$ 934,94 |
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DATE OF HIGHEST PROTEST:
DECEMBER/2012 R$ 500.000,00 |
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DETAILS OF LATEST PROTESTS: |
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NOTARY OFFICE: |
DATE: |
VALUE: |
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1º CARTORIO DE CE-FORTALEZA |
17/01/2013 |
R$ 1.066,67 |
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2º CARTORIO DE CE-MARANAU |
07/01/2013 |
R$ 14.461,48 |
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5º CARTORIO DE CE-FORTALEZA |
02/01/2013 |
R$ 695,00 |
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7º CARTORIO DE CE-FORTALEZA |
21/12/2012 |
R$ 1.686,75 |
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2º CARTORIO DE CE-FORTALEZA |
19/12/2012 |
R$ 42.738,46 |
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DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE
SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY DECLINED
TO PROVIDE ANY KIND OF FINANCIAL INFORMATION AS THEY ARE STILL NOT AUTHORIZED
TO DO SO. OUR INVESTIGATION THROUGH THE OUTSIDE SOURCES SHOWED NO FINANCIAL DATA
ABOUT THE SUBJECT. |
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EXCHANGE RATE: |
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US$ 1,00 = R$ 1,98 |
- OFFICIAL RATE ON 04/02/2013 |
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COMMENTS ON THE
FINANCIAL INFORMATION: |
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IN THE ABSENCE OF FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT THE
SUBJECT'S CURRENT FINANCIAL STANDING. |
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REAL ESTATE: |
NOT AVAILABLE
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
NOT AVAILABLE.
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BANCO SANTANDER (BRASIL) S/A |
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CAIXA ECONOMICA FEDERAL |
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BANCO CITIBANK S/A |
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REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW
PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NOT RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
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MANUFACTURE, SALE, INSTALLATION AND MAINTENANCE OF WIND POWER TURBINES,
AS WELL AS RELATED PARTS AND ACCESSORIES. |
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IMPORT AND
EXPORT: |
IMPORTS FROM:
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NOT AVAILABLE. |
EXPORTS TO:
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NOT AVAILABLE. |
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MAIN CLIENTS: |
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DOMESTIC
CLIENTS: |
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NOT AVAILABLE. |
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STAFF: |
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NOT AVAILABLE |
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THE SUBJECT WAS ESTABLISHED IN 2006. SO FAR IT HAS A TRADE HISTORY
AFFECTED BY LOT OF PROTESTS REGISTERED. THE COMPANY HAS TRADE RELATIONS WITH SOME LOCAL SUPPLIERS BUT UP TO DATE
ONLY SMALL PAYMENTS WERE REPORTED AND THE SUBJECT IS NOT SAID TO BE USER OF
TRADE CREDIT FACILITIES. OUR INVESTIGATION THROUGH THE PUBLIC RECORDS SHOWED SOME DETRIMENTAL
FILES REGISTERED AGAINST THE SUBJECT WHAT SHOWS IT HAS BEEN FAILING TO
FULFILL SOME OF ITS TRADE COMMITMENTS. |
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MAIN SUPPLIERS: |
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DOMESTIC
SUPPLIERS: |
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BALASKA EQUIPE INDUSTRIA E COMERCIO LTDA |
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NACIONAL GÁS BUTANO DISTRIBUIDORA LTDA |
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PHELPS DODGE INTERNATIONAL BRASIL LTDA |
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TECH DATA BRASIL LTDA |
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PAYMENT HISTORY: |
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03 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 19.816,00 |
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AMOUNT OF INVOICES PAID: 15 |
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TOTAL OF PROMPT PAYMENTS: 90,1% |
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TOTAL OF DELAYED PAYMENTS: 9,9% |
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HIGHEST INVOICE: R$ 8.082,00 |
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HIGHEST CREDIT: R$ 8.082,00 |
BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR
NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON FULLY
SECURED TERMS DUE TO THE ABSENCE OF FINANCIAL DATA AND THE HIGH AMOUNT
PROTESTS.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.08 |
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1 |
Rs.83.11 |
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Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.