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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
Drogueria Saporiti S.a.c.i.F.I.a. |
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Registered Office : |
Av. del Campo 1449 (1427), Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
15.05.1968 |
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Com. Reg. No.: |
25.421 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
The company is engaged in the commercialization and
distribution of drugstore products and medicinal specialties, being
established in the previously exposed address. |
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No. of Employees : |
180 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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 import-restrictive measures and practices during the year,
including a 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
DROGUERIA SAPORITI S.A.C.I.F.I.A.
CUIT: 30-51559391-4
BEGINNER OF ACTIVITIES. INCORPORATED IN 1968. NOT PROVIDED
BALANCE SHEET TO THIRD PARTIES. NO NEGATIVE. FIT FOR OPERATIONS OF CURRENT
IMPORTANCE.
DRUGSTORE
CHEMICAL AND MEDICINAL PRODUCTS
DISTRIBUTION
Business type:
Public Limited
Company
Incorporated: 15/05/1968
Registered: 26/07/1968
Register #: 25.421
Duration: 99 years
End of fiscal year: June 30th
Mrs Norma Amelia Varni
(Director).
Legal and Operative address: Av. del Campo 1449 (1427), Buenos Aires City,
Argentine Republic.
Phone: (54-11) 4555-8300 (lines rotatives)
Fax: (54-11) 4555-5445
E-mail: ventas@drogueria-saporiti.com.ar
E-mail: contaduria@drogueria-saporiti.com.ar
Web: www.drogueriasaporiti.com.ar
President:
OTERO JORGE
CLAUDIO
Vice-president: OTERO
SILVIA IRENE
Director:
VARNI DE OTERO POSE NILDA IRENE
Director: VARNI
NORMA AMELIA
The first two mentioned are in charge of the company´s management and
administration, being the Managers, both make use of the social signature.
El capital social de la empresa se halla establecido en la suma de $350.000,00 el cual ha sido totalmente suscripto y realizado, trascendiendo que el mismo es aportado mayoritariamente por miembros de su directorio.
OTERO JORGE CLAUDIO:
------------------------------------
Argentinian, married, born in 10/09/1954, DNI. 11.293.319 (CUIT. 20-11293319-1)
with address in Gualeguaychu 3028, Buenos Aires City.
The company was
incorporated by mid-1968 with the objective of performing its current
activities, operating at present in the previously exposed address.
It isn’t known if it is member of any economic group or of its directors
perform other activities.
Not provided financial
information to third parties.
Therefore, it has been necessary to consult indirect sources, where we obtained
figures:
ASSETS
-----------
Current................$ 30.000.000
Non-current............$ 18.000.000
____________
$
48.000.000
============
LIABILITIES
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Current................$ 5.800.000
Non-current............$ 200.000
____________
$
6.000.000
NET WORTH..............$ 42.000.000
____________
$
48.000.000
============
These figures indicate that society is turning holder with good economic and
financial position, with extensive coverage of the commitments from the own
resources are grouped in equity and asset values ??from normal rated current
realization in the short and medium term.
Las sales the year 2012 were estimated in 46 million USD for every concept,
with the obtaining of results compensatory.
REAL ESTATE:
--------------------
Inside the company's fixed assets is included the building located in the
previously exposed address, of 7,000 mts2 covered. in three storeys, with a
real value higher than the mentioned one.
VEHICLES:
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1 truck Mercedes Benz
2 vans Kangoo
1 automobile Honda
The company is engaged in
the commercialization and distribution of drugstore products and medicinal
specialties, being established in the previously exposed address.
It is a company of reasonable importance in its sector, having a good
infrastructure and organization, where its directors participate together with
the necessary staff.
It continue operating with a solid economic-financial level, operating as a
result with an investments program.
* 180 EMPLOYEES
SUPPLIERS:
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INCASA S.A.
LABORATORIO OTEMEN S.A.
AMOPLAS S.A.
LABORATORIOS MAGANS
LUZURRA S.R.L.
BANKS:
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BANCO DE GALICIA Y BS.AS. S.A., Branch:
Chacarita
BBVA BANCO FRANCES S.A., Principal Office
BANCO DE LA NACION ARGENTINA, Principal Office
BANCO DE LA PROVINCIA DE BS.A., Principal
Office
BANCO SANTANDER RIO Principal Office
BANCO SUPERVIELLE
CREDIT RISK:
--------------------
FEBRUARY/2013
BANCO DE GALICIA $ 1.200 Situation 1
Situation 1: Normal Fulfillment.
INSURANCE:
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ZURICH CIA. DE SEGUROS S.A.
ROYAL SUN ALLIANCE
FEDERACION PATRONAL
ALLIANZ S.A.
It is commercially
related with national and foreign companies. Many of them give it their credit
support and indicate that up to now the company has complied in due time the
commitments taken.
* FULFILLMENT: NOT OBJECTED AT THE PRESENT
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
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|
1 |
Rs.70.50 |
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Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.