|
Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
PIELES LUSTRAL SA |
|
|
|
|
Registered Office : |
Ferreteria Sinsa Altamira 1, 1/2c Abajo Casa No 451, Managua, Nicargua |
|
|
|
|
Country : |
Nicaragua |
|
|
|
|
Date of Incorporation : |
Not Available |
|
|
|
|
Legal Form : |
Sociedad Anonima |
|
|
|
|
Line of Business : |
Importer, Manufacturer and Wholesaler of leather goods. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Nicaragua |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
NICARAGUA - ECONOMIC OVERVIEW
Nicaragua, the poorest country in Central America and the second
poorest in the Hemisphere, has widespread underemployment and poverty. The
US-Central America Free Trade Agreement (CAFTA) has been in effect since April
2006 and has expanded export opportunities for many agricultural and
manufactured goods. Textiles and apparel account for nearly 60% of Nicaragua's
exports, but increases in the minimum wage during the ORTEGA administration
will likely erode its comparative advantage in this industry. ORTEGA's
promotion of mixed business initiatives, owned by the Nicaraguan and Venezuelan
state oil firms, together with the weak rule of law, could undermine the
investment climate for domestic and international private firms in the
near-term. Nicaragua relies on international economic assistance to meet
internal- and external-debt financing obligations. Foreign donors have
curtailed this funding, however, in response to November 2008 electoral fraud.
In early 2004, Nicaragua secured some $4.5 billion in foreign debt reduction
under the Heavily Indebted Poor Countries (HIPC) initiative. Managua still
struggles with a high public debt burden, however, it succeeded in reducing
that burden substantially in 2011. The economy grew at a rate of about 4% in
2011.
|
Source : CIA |
|
POLITICAL DATA |
ECONOMIC DATA |
|
Form of Government: Republic
|
Currency: 100.00 NIO = 4.14680 USD |
|
Ordered
as: |
PIELES
LUSTRAL SA |
||
|
Address
in the order: |
Ferreteria
Sinsa Altamira 1, 1/2c Abajo Casa No 451, Managua, Nicargua |
||
|
Legal
Name: |
PIELES
LUSTRAL SA |
||
|
Legal
Address |
Ferreteria
Sinsa Altamira 1, 1/2c Abajo Casa No 451, Managua, Nicargua |
||
|
Operative
Address |
Ferreteria
Sinsa Altamira 1, 1/2c Abajo Casa No 451, Managua, Nicargua |
||
|
Telephone: |
50586721569
/ + (505) 22782257 / +(505) 22705454 |
RUC
: |
NA |
|
Fax: |
NA |
Legal
Form: |
Sociedad
Anonima |
|
Email: |
NA |
Registered
in: |
Nicaragua |
|
Website: |
NA |
Date
Created: |
NA |
|
Manager: |
Luis Herrera, Accounting assistant |
Date
Incorporated: |
NA |
|
Staff: |
NA |
Stock: |
NA |
|
|
|
Value: |
NA |
|
Activity:
|
Leather
goods |
||
|
Name of the Bank |
Banco
De Nicaragua |
|
PRINCIPAL
ACTIVITY |
|
|
|
The subject would operate as an importer manufacturer and wholesaler
of leather goods. No
other information could be gathered by the time we called. |
|
Sales
are: |
|
|
|
Wholesale |
|
Clients: |
|
|
|
Professionals
of the industry. |
|
Operations
area: |
|
|
|
National,
Local |
|
The
company imports from Worldwide |
|
|
The
company does not export |
|
|
Trade
References: |
|
|
|
The
person contacted refused to provide the names of their suppliers on grounds
of confidentiality. |
|
Competitors: |
|
|
|
COVER ROLTER,
S.A. |
|
The
subject employs NA employee(s) |
|
|
Comments
on staff: |
|
|
|
This
information was not confirmed with the staff. |
|
PAYMENTS |
|
|
|
regular |
|
LOCATION |
|
|
Headquarters |
|
|
|
The
company is headquartered at Ferreteria Sinsa Altamira 1, 1/2c Abajo Casa No
451, Managua, Nicargua |
|
Comments
on location: |
|
|
|
Please note we found a similar address for the company requested: Altamira de Este Ferret Sinsa 50vs Al Oe No.454 Managua Nicaragua. However,
after the interview we have learned that the mentioned location was its old
address but they no longer operate there. |
|
Branches: |
|
|
|
No additional locations were found for this company. This
information was not confirmed with the staff. |
|
Shareholders
Parent Company(ies): |
|
|
|
This
is a privately held company. Despite our long searches it has not been
possible to identify the shareholders. |
|
Management: |
|
|
|
Luis Herrera, Accounting assistant Claudia Rodriguez, Concierge |
|
As
a private company the subject does not publish any financial statements. |
|
We have contacted Claudia Rodriguez, Concierge who
refused to provide us any financial data without knowing the name of the
inquiring party. |
|
Comments on the financial data:
As of today, there was no recent financial information provided or released
to our sources. |
|
Legal Filings |
|
The sources consulted record no detrimental
legal or labor court information. |
|
Local credit bureau gave a low credit rate. The company is in Good Standing. This means that all local and federal
taxes were paid on due date. |
|
|
Final
Opinion |
|
|
|
Pieles Lustral SASA would be a young company with national presence. The subject would be a small structure with a fluent relation with its
international suppliers. No legal filings were found against the company or its legal
representatives. As mentioned on the content of this report, the lack of cooperation by
the time we called didn’t let us determine the company’s size, its experience
and all other relevant information to fulfill this report. At this point, considering the information analyzed. We
suggest working with GUARANTEES. |
|
|
|
||
|
Profitability |
N.A. |
Public
|
NO |
|
Indebtedness |
N.A. |
Payments |
N.A. |
|
Cash |
N.A. |
|
|
|
Person
Interviewed |
|
|
|
Claudia
Rodriguez |
|
Position |
|
|
|
Concierge |
|
Comments |
|
|
|
The
person contacted clarified that the address we had was the accurate one and
explained us that the additional address found for this company no longer
belongs to Pieles Lustral. However, she was unwilling to provide us or confirm
any further information without knowing the name of the solicitor. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
UK Pound |
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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.