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Report Date : |
09.01.2013 |
IDENTIFICATION DETAILS
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Name : |
CINDECO NICARAGUA SA |
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Registered Office : |
Oficentro Norte, Módulo B-10 Km. 5 Carretera
Norte Managu |
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Country : |
Nicaragua |
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Date of Incorporation : |
1981 |
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Legal Form : |
Sociedad Anonima |
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Line of Business : |
Manufacturer and distributor of products to work
the land. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Nicaragua |
C2 |
C2 |
|
Risk Category |
ECGC Classification |
|
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 |
NICARAGUA - ECONOMIC OVERVIEW
Half the population still depends on agriculture and
livestock for a livelihood, even though many of the nomads and subsistence
farmers were forced into the cities by recurrent droughts in the 1970s and
1980s. Mauritania has extensive deposits of iron ore, which account for nearly
40% of total exports. The nation's coastal waters are among the richest fishing
areas in the world but overexploitation by foreigners threatens this key source
of revenue. The country's first deepwater port opened near Nouakchott in 1986.
Before 2000, drought and economic mismanagement resulted in a buildup of
foreign debt. In February 2000, Mauritania qualified for debt relief under the
Heavily Indebted Poor Countries (HIPC) initiative and nearly all of its foreign
debt has since been forgiven. A new investment code approved in December 2001
improved the opportunities for direct foreign investment. Mauritania and the
IMF agreed to a three-year Poverty Reduction and Growth Facility (PRGF)
arrangement in 2006. Mauritania made satisfactory progress, but the IMF, World
Bank, and other international actors suspended assistance and investment in Mauritania
after the August 2008 coup. Since the presidential election in July 2009,
donors have resumed assistance. Oil prospects, while initially promising, have
largely failed to materialize, and the government has placed a priority on
attracting private investment to spur economic growth. The Government also
emphasizes reduction of poverty, improvement of health and education, and
privatization of the economy. Economic growth remained above 5% in 2010-11,
mostly because of rising prices of gold, copper, iron ore, and oil.
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Source : CIA |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Republic
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Currency: USD |
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Ordered as: |
CINDECO NICARAGUA SA |
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Address in the order: |
CALLE 27 DE MAYO, ESTATUA MONTOYA 7 CALLE 27 DE MAYO, ESTATUA MONTOYA 75 COMPANIA INTERAMERICANA DE COMERCIO 0000 VARAS ARRIBA, CONTIGUA AL HOTEL HIE NICARAGUA |
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Comments on data supplied: |
The address provided does not belong to the Nicaragua
Branch or anything related to the company. |
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|
Legal Name: |
CINDECO NICARAGUA SA |
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|
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||
|
Legal Address |
Oficentro Norte, Módulo B-10 Km. 5 Carretera Norte
Managu |
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Operative Address |
Oficentro Norte, Módulo B-10 Km. 5 Carretera Norte
Managu |
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Telephone: |
(505) 2248-0104 |
RUC : |
NA |
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Fax: |
(505) 2248-0104 |
Legal Form: |
Sociedad Anonima |
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Email: |
nicaragua@cindeco.info |
Registered in: |
Nicaragua |
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Website: |
http://www.agrocentro.info/ (Group web page) |
Date Created: |
1981 |
|
Manager: |
Guillermo Jose Cabezas |
Date Incorporated: |
NA |
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Staff: |
NA |
Stock: |
NA |
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|
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Value: |
NA |
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Activity: |
Manufacturer and distributor of products to work the
land. |
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Name of the Bank |
Banco central de Nicaragua |
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HISTORY |
|
|
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The group Agrocentro was established in 1981,
they are based in Guatemala and they operate in 10 latin American countries. In 2010 the company was rewarded with the ISO
certification granted by the company ICONTEC. |
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PRINCIPAL ACTIVITY |
|
|
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The company specializes in developing products to
work the land such as Herbicides, Fungicides, Insecticides and related
substances. It operates under the scope of the AGROCENTRO GROUP,
headed by AGROCENTRO SA. |
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Products/Services description: |
|
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The company operates as part of a Group. In
Nicaragua the company represents that group, offering: Herbicides, Fungicides, Insecticides and related
substances. Under herbicides they sell: Paraquat Alemán 20 SL Glifosato Alemán 20 SL Elimina 72, 60, 48 Y 40 SL Konflikt 30,4 SL Angloxone 20 SL Jibokem 19 SL Angluron 30 SL Ranchero 24 SL Jaripeo 68 SG Igual 90 WG; 80 WP y 50 SC Eskobiyol 60 WG y WP Under Insecticides: Kung Fu 2,5 EC Kungfidol 70 WG y WP Fungicides: Fungitane 80 WP Clorotac 72 y 50 SC Prophyt 25 EC Vegetal Nutrition: Fertig Forte 25,66 SL Related Substances: Wetagro pHOK 30,5 SL Corrector Total 5 SL |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry. |
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Suppliers: |
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Cindeco Nicaragua,s.a. imports products from Meghmani
Organics Limited in Barcelona |
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Operations area: |
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National |
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The company imports from Spain |
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The company does not export |
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PAYMENTS |
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|
regular |
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LOCATION |
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Headquarters |
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Oficentro Norte, Módulo B-10 Km. 5 Carretera Norte
Managua, Nicaragua |
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Branches: |
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the company has branches in Mexico, El Salvador,
Honduras, Colombia, Belice, Panama, Republica Dominicana and Surinam. |
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Shareholders Parent Company(ies): |
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This is a private company. It operates as a subsidiary
of: AGROCENTRO SA |
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As a private company the subject does not publish any
financial statements. |
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We have contacted a person at the company who refused
to provide us any financial data on grounds of confidentiality. |
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Comments on the financial data: There was no financial information available |
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Legal Filings |
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The sources
consulted record no detrimental legal or labor court information. |
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Local credit bureau gave a CORRECT credit rate. The company is in Good Standing. This means that
all local and federal taxes were paid on due date. |
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Final
Opinion |
|
|
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The mother company was established in 1981 as a
producer of products to work the land. Cindeco is supported by the Agrocentro group, one
of the main competitors of this field in this area. Cindeco is a known company that works with
products for the land, meaning that there will always be demand. We were not able to find any financial
information on this company. |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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Person Interviewed |
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NA |
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Position |
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NA |
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Comments |
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The person we talked to informed us that
Guillermo Jose Cabezas is the person in charge of Cindeco Nicaragua. After that the person refused to disclose any more
information on grounds of confidentiality. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.33 |
|
UK Pound |
1 |
Rs.89.05 |
|
Euro |
1 |
Rs.72.57 |
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 |
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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.