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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
TINTAS GRAFICAS
VENCEDOR S.A. |
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Registered Office : |
Los Tusilagos Este 400 Zona Industrial, Urb. Las Flores, San Juan de Lurigancho Lima, 36 |
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Country : |
Peru |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.06.1996 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Subject is engaged in the production, distribution and
sale of paints, resins and product related to chemistry |
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No. of Employees : |
99 |
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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Peru |
A2 |
A2 |
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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 |
PERU - ECONOMIC
OVERVIEW
Peru's economy reflects its varied geography - an arid
lowland coastal region, the central high sierra of the Andes, the dense forest
of the Amazon, with tropical lands bordering Colombia and Brazil. A wide range
of important mineral resources are found in the mountainous and coastal areas,
and Peru's coastal waters provide excellent fishing grounds. The Peruvian
economy has been growing by an average of 6.4% per year since 2002 with a
stable/slightly appreciating exchange rate and low inflation, which in 2013 is
expected to be below the upper limit of the Central Bank target range of 1 to
3%. Growth has been in the 6-9% range for the last three years, due partly to a
leap in private investment, especially in the extractive sector, which accounts
for more than 60% of Peru's total exports. Despite Peru's strong macroeconomic
performance, dependence on minerals and metals exports and imported foodstuffs
subjects the economy to fluctuations in world prices. Poor infrastructure
hinders the spread of growth to Peru's non-coastal areas. Peru's rapid
expansion coupled with cash transfers and other programs have helped to reduce
the national poverty rate by 23 percentage points since 2002, but inequality
persists and continues to pose a challenge for the new Ollanta HUMALA
administration, which has championed a policy of social inclusion and a more
equitable distribution of income. Peru's free trade policy has continued under
the HUMALA administration; since 2006, Peru has signed trade deals with the US,
Canada, Singapore, China, Korea, Mexico, Japan, the European Free Trade
Association, Chile, and four other countries; concluded negotiations with
Venezuela, Costa Rica, and Guatemala; and begun trade talks with two other
Central American countries and the Trans-Pacific Partnership. Peru also has
signed a trade pact with Chile, Colombia, and Mexico called the Pacific
Alliance that rivals Mercosur in combined population, GDP, and trade. The
US-Peru Trade Promotion Agreement entered into force 1 February 2009, opening
the way to greater trade and investment between the two economies. Although
Peru has continued to attract foreign investment, political activism and
protests are hampering development of some projects related to natural resource
extraction
Source
: CIA
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CORRECT COMPANY
NAME |
TINTAS GRAFICAS VENCEDOR S.A. |
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TAXPAYER
REGISTRATION |
RUC 20305875296 |
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MAIN ADDRESS |
Los Tusilagos Este 400 Zona Industrial, Urb. Las Flores, San Juan de Lurigancho |
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POSTAL CODE |
Lima, 36 |
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DEPT/PROV/REGION/STATE |
Lima / Lima |
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COUNTRY |
PERU |
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TELEPHONE |
(511) 4596367 - 4596366 |
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CORPORATE E-MAIL |
katya.duran@tgv.com.pe |
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COMMENTS |
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The telephone numbers, 6126001-6126002, DO NOT BELONG TO SUBJECT. |
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF
INCORPORATION |
06JUN1996 |
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PLACE OF
REGISTRY |
Lima |
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NOTARY OFFICE |
Carlos Augusto Sotomayor B. |
DURATION |
Perpetual |
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REGISTRATION |
Card 128829 |
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INITIAL CAPITAL |
S/.500.= Nuevos Soles |
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CURRENT PAID-IN
CAPITAL |
S/.7,976,190.= Nuevos Soles |
LAST CAPITAL
INCREASE |
December 2007 |
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SHAREHOLDERS
EQUITY |
15,108,447.00 Nuevo Sol (31DEC2012) |
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CURRENT EXCHANGE
RATE (US$) |
S/.2.77 per 1 USD |
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COMMENTS |
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According to SUNAT, Subject was incorporated to the General Tax Withholding Agent Regime IGV (R.S.037-2002 as from 06/01/2002, likewise it is incorporated to the Collection Agent Regime IGV - Domestic Sales (D.S. 091-2013) as from 07/01/2013. |
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LIRA GARCIA, VICTOR EDUARDO |
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TITLE |
President |
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NATIONALITY |
Peruvian |
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ID |
DNI 29525114 |
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PROFESSION |
Industrial Engineer |
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BACKGROUND
INFORMATION |
Industrial Engineer graduated from the Pontifical Catholic University of Peru. He obtained a Master in Economics Engineering from the Karlsruhe University of Germany. He has had General and Commercial Management positions in beverages and retail companies for 20 years. |
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ASSOCIATED AS PER
OUR DATABASE TO
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PORTO, NESTOR |
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TITLE |
Director |
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NATIONALITY |
American |
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PARTICIPATED IN |
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LARRAIN PEÑA, FERNANDO |
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TITLE |
Director |
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NATIONALITY |
Chilean |
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PROFESSION |
Civil Engineer |
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BACKGROUND
INFORMATION |
Industrial Engineer graduated from the University of Chile. Partner of Larrain Vial S.A.; President of Empresas Santa Carolina S.A.; President of Watt's Alimentos S.A.; President of Viña Santa Carolina S.A.; Director of the important companies such as Laive S.A. and Industrias Tricolor S.A. |
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ASSOCIATED AS
PER OUR DATABASE TO |
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FAJARDO SANGUINETTI, JOSE AMERICO |
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TITLE |
General Manager |
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NATIONALITY |
Peruvian |
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D.O.B. |
011955 |
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ID |
DNI 07827005 |
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BACKGROUND
INFORMATION |
He has studied a Business Administration Degree in ESAN (1985-1986) |
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BARRIOS VASQUEZ, TEOFILO HUMBERTO |
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TITLE |
Representative |
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NATIONALITY |
Peruvian |
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ID |
DNI 10791362 |
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PROFESSION |
Business Administrator |
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BACKGROUND INFORMATION |
Administration and Finance Manager since September 2003. Business Administrator graduated from the University of Lima, specialized in Business and Management Development as well as International Trade. Professional with experience in the finance and administration field in industrial companies of the country. |
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INDUSTRIAS VENCEDOR S.A. |
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BUSINESS BACKGROUND Subject is a Peru-based company engaged in the production, distribution and sale of paints, resins and product related to chemistry. Its products portfolio includes a variety of latex paints, enamels, varnishes and adhesives, as well as polishing and anti-corrosion coating used in industrial and automotive industries. Subject operates a store network under the name Tiendas Colorcentro. It is majority shareholder of the company Industrias Tricolor Perú S.A. with a 99.99% of shares. Industrias Vencedor S.A holds 49.9% of shares of its related company Tintas Gráficas Vencedor S.A |
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INDUSTRIAS TRICOLOR PERU S.A. |
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BUSINESS BACKGROUND Peruvian Company RUC (Tax Payer ID) No. 20162944976 |
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ASTER DRITTE BETEILIGUNGS |
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BUSINESS BACKGROUND Company headquartered in Germany. |
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TINTAS GRAFICAS VENCEDOR S.A. started its operations after its incorporation in 1996. Subject takes part of the company Industrias Vencedor S.A., which is subsidiary of company Tricolor Perú S.A. With respect to TINTAS GRAFICAS VENCEDOR S.A., this has been developing as its parent company. Subject expanded its external market as from 2003, mainly in the neighboring country Ecuador, besides being known in local market. Subject is engaged in offering services in photopolymers and offset inks. |
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RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER |
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SIC
Classification |
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Main activity |
Subject is engaged in manufacture and sale of inks in general: water-based flexo, solvent-based flexo, rotogravure, flexographic, offset, photogravure, etc. Flexography systems, Subject sells two types of inks: solvent-based (water-based flexo), each one with its lines to various uses. WATER-BASED FLEXO: ACQUAPRINT: For paper bags and cardboard boxes printing. ECOFLEX: For cardboard boxes printing, high speed machines, fast drying. ACQUAFLEX: For tissue paper printing. ECOPRINT: For general printing, exporting. SOLVENT-BASED FLEXO: DIGLOSS: For general bags, cling wrap printing. DIGLOSS SP: For polypropylene bags printing. DIPOL DT: For detergent wrapping printing. OVERPRINT: For cling wrap, bags, flexible containers, banners and others that require thermoresistance. PYROFLEX: To laminate. CINILAM: To laminate For rotogravure system, Subject sells inks for use on aluminum foil such as ROTOCHEM inks, and CINILAM R inks for the laminate line, among others. Trademark: Vencedor (own) |
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O P E R A T I O N S |
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Import |
Yes |
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Country |
Argentina, Belgium, Brazil, China, Finland, France, Germany, India, Italy, Netherlands, Sweden, Thailand, UK, USA |
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ANNUAL Imports
In US$ (CIF) |
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Export |
Yes |
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COUNTRY |
Brazil, Chile, Ecuador |
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Annual exports
in US$ (FOB) |
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% CASH SALES /
METHOD |
30% |
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% Credit SALES /
Terms |
70% Invoices and/or Drafts 60,90 days |
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% Ventas
exterior (Paises) |
40% |
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% DOMESTIC
PURCHASES |
30% |
% FOREIGN
PURCHASES |
70% |
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SELLING
TerritorY |
60% Domestic market |
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EMPLOYEES |
99 |
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According to SUNAT, the number of workers is 99 as of 07/2013. Main clients: - MPC DEL PERU SA - PERUPLAST SA - TECH PAK SA For international sales, Subject has the assistance of Flint Group -Perú |
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Disposition |
TF: REPORT PREPARED FROM OUTSIDE SOURCES. |
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Interviewee(s) |
Terceras fuentes |
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Information
provided |
The information gathered in this report was obtained from indirect sources (public and private sources, our own, etc) since Subject denied providing information under internal policies. Balance Sheets were not available in public sources; we only obtained sales amount as of 2011 and 2012. |
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FINANCIAL
SITUATION |
A-: SATISFACTORY Despite having no Financial Statements, Subject has the financial support of its owners. It is known that Subject operates without problems and meets its obligations promptly. |
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Sales History in
US$ (of Balance Sheet, statement of third parties) |
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Insurance
Comments |
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Despite having no Financial Statements, Subject has the financial support of its owners. It is known that Subject operates without problems and meets its obligations promptly. |
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TRADE REFERENCES |
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Note : Other suppliers did not provide information or could not be consulted |
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RISK INFORMATION
CENTER |
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COMMERCIAL DELINQUENCY |
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SUPERINTENDENCY
OF BANK & INSURANCE (SBS) |
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Debt structure for bank. SBS Latest Consolidated Credit Report as of : 31/08/2013 |
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CONSOLIDATED
DEBT (ALL
BANKS) ENTITIES
NUMBER : 2 31/08/2013 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.14 |
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1 |
Rs.99.02 |
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Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
-- |
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.