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Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIO CIRCE S.R.L. |
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Registered Office : |
Eustaquio Frias 445, piso 4, oficina B, Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
29.01.1986 |
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Legal Form : |
Liability limited company |
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Line of Business : |
Development of confectionery. |
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No. of Employees : |
25 |
RATING & COMMENTS
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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 : |
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) |
|
Argentina |
B1 |
B1 |
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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 |
argentina - ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly
literate population, an export-oriented agricultural sector, and a diversified
industrial base. Although one of the world's wealthiest countries 100 years
ago, Argentina suffered during most of the 20th century from recurring economic
crises, persistent fiscal and current account deficits, high inflation,
mounting external debt, and capital flight. A severe depression, growing public
and external indebtedness, and a bank run culminated in 2001 in the most
serious economic, social, and political crisis in the country's turbulent
history. Interim President Adolfo RODRIGUEZ SAA declared a default - the
largest in history - on the government's foreign debt in December of that year,
and abruptly resigned only a few days after taking office. His successor,
Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the
US dollar in early 2002. The economy bottomed out that year, with real GDP 18%
smaller than in 1998 and almost 60% of Argentines under the poverty line. Real
GDP rebounded to grow by an average 8.5% annually over the subsequent six
years, taking advantage of previously idled industrial capacity and labor, an
audacious debt restructuring and reduced debt burden, excellent international
financial conditions, and expansionary monetary and fiscal policies. Inflation
also increased, however, during the administration of President Nestor
KIRCHNER, which responded with price restraints on businesses, as well as
export taxes and restraints, and beginning in early 2007, with understating
inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as
President in late 2007, and the rapid economic growth of previous years began
to slow sharply the following year as government policies held back exports and
the world economy fell into recession. The economy has rebounded strongly from
the 2009 recession, but the government's continued reliance on expansionary
fiscal and monetary policies risks exacerbating already high inflation.
|
Source : CIA |
LABORATORIO CIRCE
S.R.L.
C.U.I.T. 30-60852388-6
INCORPORATED IN 1986. BEGINNER OF ACTIVITIES. REFUSAL TO SUPPLY
FINANCIAL AND GENERAL INFORMATION. NOT NEGATIVE. OPERATE WITH CREDITS OF
MODERATE IMPORTANCE AND ADDITIONAL GUARANTEES.
> Development of confectionery.
Legal form:
Liability limited
company
Created: 29/01/1986
Duration: 99 years
End of fiscal year: 31
December
Registered in AFIP: 01/04/1986
CESAR MELAMED (accountant)
* Sede legal: Eustaquio Frias 445, piso 4, oficina B, Buenos Aires City,
Republic of Argentina.
* Operative and Sales office: LINIERS 3953/61 - CIUDADELA
Phone/Fax: 54 (11) 4653-4521
E-mail: ventas@circeonline.com.ar
> PARTNER CAPELLO
CARLOS ALBERTO
> PARTNER GONZALEZ ZUBELDIA MARIA YOLANDA
Use of firm name, by the before mentioned in legal representative of the
company .-
Circe began operating in
From the beginning, said policy to the overall quality of the entire product
line.
The impact was such that the sector itself prompted them to develop a wider
range of products for their quality and presentation were the closest
alternative to similar imported.
After 30 years, Circe is positioned as the category only company in Argentina
with the widest range of products for cakes and pastries.
* Not registered affiliates.
Continued with the negative of not provided financial information.
REAL ESTATE:
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LINIERS 3953/61 - CIUDADELA
Of the current
Company dedicated to the processing of raw
materials for cakes and pastries.
Among his most outstanding products, we can mention the following.
> ADDITIVES
> YUGAR
> BICARBONATE
> CARAMEL
> ESSENCES AND COLOURS
> GELATIN
FOREIGN TRADE:
--------------
In the last twelve months, it has made specific imports from following
countries:
> INDIAN
> NORWAY
> INDONESIA
HABITUAL SUPPLIERS:
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LEDESMA S.A.
SABORES Y FRAGANCIAS S.A.
* 25 EMPLOYEES
Santiago de Liniers 3961, Ciudadela, BA.
Santiago de Liniers 3955, Ciudadela, BA.
Estrada 1099 8º C, Ciudad de Buenos Aires
> BCO GALICIA
BRANCH Ciudadela
* CREDIT RISK NOVEMBER 2012
---------------------------
> BCO GALICIA $
500
* SITUATION 1: NORMAL.
INSURANCE:
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> CNA ART
> BERKLEY SEGUROS S.A.
We lack of the suppliers lists as to
determine its payment record.
Anyway in database it do not register backgrounds that could affect its
concept.
* FULFILLMENT: NOT DETERMINED.
According to what was exposed, we consider that
the company is feasible for credit treatment, through the use of safety
measures, for amounts of moderate importance.
* FIT FOR CREDITS OF MODERATE IMPORTANCE.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
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UK Pound |
1 |
Rs.87.50 |
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Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
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.