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Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
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Name : |
COMASA S.A. |
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Registered Office : |
Gamarra 1385 Planta Baja, Departamento A, Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
27.08.1991 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacture of Machinery and Equipment for food industry and related.
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No. of Employees : |
120 |
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 : |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Argentina |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 an unprecedented 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 - at the
time the largest ever - 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 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 in 2010 rebounded strongly from the 2009 recession,
but has slowed since late 2011 even as the government continued to rely on
expansionary fiscal and monetary policies, which have kept inflation in the
double digits. The government expanded state intervention in the economy
throughout 2012. In May the Congress approved the nationalization of the oil
company YPF from Spain's Repsol. The government expanded formal and informal
measures to restrict imports during the year, including a requirement for
pre-registration and pre-approval of all imports. In July the government also
further tightened currency controls in an effort to bolster foreign reserves
and stem capital flight.
|
Source
: CIA |
COMASA S.A.
C.U.I.T. Nº 30-64847937-5
BEGINNER OF ACTIVITIES. IT OPERATES SINCE
1991. NOT PROVIDED BALANCE SHEET TO THIRD PARTIES. NO NEGATIVE. FIT FOR
OPERATIONS OF MODERATE IMPORTANCE WITH ADDITIONAL SECURITIES.
> MANUFACTURE
OF MACHINERY AND EQUIPMENT FOR FOOD INDUSTRY AND RELATED.
LEGAL FORM:
PUBLIC
LIMITED COMPANY
CREATED: 1991
REGISTERED RPC: 27/08/1991
DURATION: 99 YEARS
END OF FISCAL YEAR: 30/JUNE
Accountant: Paula Pico
Legal Address: Gamarra 1385
planta baja, departamento A, Buenos Aires City, Republic of Argentina.
Operative address: Gral. Manuel
Belgrano 2658, El Talar, Buenos Aires Province, Republic of Argentina.
Phone. 54.11.4726.3600
E.Mail: comasa@comasa-sa.com
Web: www.comasa-sa.com
PRESIDENT:
GUILLERMO
LUIS TERZOLO
V.PRESIDENT: ROLANDO
JESUS TERZOLO
ALTERNATE DIRECTOR: ARIEL
DIEGO TERZOLO
Using of signature: President and V.President.
ORDINARY SHARES:
----------------
SUBSCRIBED AND INTEGRATED $ 4.631.009.-
GUILLERMO LUIS
TERZOLO
----------------------
argentino, married, born 20/05/1955, DNI. nº 11.644.702. With address in Rufino
de Elizalde 3707 Lopez Camelo, Tigre, Buenos Aires Province.
ROLANDO JESUS TERZOLO
-----------------------
argentino, married, born 24/08/1957, D.N.I. nº 13.147.451. With address in Fray
Justo Sarmiento 74, Florida, Buenos Aires City.
ARIEL DIEGO TERZOLO
--------------------
argentino, married, born 06/11/1969. D.N.I. Nº 20.340.382. With address in
Vergara 4265, Florida, Buenos Aires.
All participates in the following companies::
GRUPO TERZOLO S.A.
ECOVIDA S.A.
WYNKA S.A.
COPHAR S.A.
COMASA S.R.L. Italy.
The activities of
reference were initiated and implemented by this society that governs their
actions by legal clauses above mentioned.
The company's main purpose is the manufacture of special purpose machinery for
the feed industry. As a related activity, usually provide architectural and
engineering services and technical advice.
The company not
provided financial information.
REAL ESTATE:
------------
A society referred owns the large building occupied by General Manuel Belgrano
street 2658, El Talar, Buenos Aires, which is assigned a significant value
realization.
VEHICLES:
---------
It also has 5 cars of recent models.
* GRUPO TERZOLO
S.A.
* ECOVIDA S.A.
* WYNKA S.A.
* COPHAR S.A.
* GRUPO TERZOLO S.A.
M.T. MAJDALANI
S.A.
Payments: 30, 60 and 90 days.
Credits: u$s 40.000 monthly.
Concept: Normal.
Operates within
the aforementioned items, having made such development efforts of good size
structure, in which 120 employees play in the care of various tasks.
FOREIGN TRADE:
--------------
Import from Italy and Brasil.
Export Brasil, Spain and Egipto.
HABITUAL SUPPLIERS:
-------------------
M.T. MAJDALANI S.A.(ARGENTINA)
FAMIQ S.A. (ARGENTINA)
* 120 EMPLOYEES
BANCO CREDICOOP
EL TALAR
BANCO PROV. DE BS.AS. EL TALAR
BANCO PATAGONIA EL
TALAR
BANCO DE GALICIA EL
TALAR
BANCO SANTANDER RIO EL TALAR
INSURANCE:
----------
CREDIT RISK MARCH 2013
----------------------
BANCO CREDICOOP $
12.089.700
PATAGONIA 1.363.100
PROV. DE B.A. 889.200
COMAFI 99.300
GALICIA 300
Situation 1: normal.
No negative
history record that may affect your concept and informed through investigations
conducted, which until this cancels the obligations within the time limits.
* NOT EXIST NEGATIVE.
The lack of
negative antecedents makes viable the credit relation with the company, by
moderate amounts and additional guarantees.
* APT FOR CREDITS
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.50 |
|
|
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
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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 |
|
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 |
|
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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.