MIRA INFORM REPORT

 

 

Report Date :

21.09.2013

 

IDENTIFICATION DETAILS

 

Name :

I.T. INTERNATIONAL TRANSMISSIONS SA

 

 

Registered Office :

Via Lische 4, Stabio, 6855

 

 

Country :

Switzerland

 

 

Date of Incorporation :

07.03.1977

 

 

Com. Reg. No.:

CH5243007337

 

 

Legal Form :

Limited company

 

 

Line of Business :

Manufacture of bearings, gears, gearing and driving elements

 

 

No. of Employees :

50

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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)

 Switzerland

                       A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SWITZERLAND - ECONOMIC OVERVIEW

 

Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy recovered in 2010 with 3.0% growth. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safe-haven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell to 1.9% in 2011 and 0.8% in 2012. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and is considering the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.

 

Source : CIA

 

 

 

Company name

 

I.T. INTERNATIONAL TRANSMISSIONS SA

 

 

Company Summary

 

Company Name                                    I.T. INTERNATIONAL TRANSMISSIONS SA

Company Registration Number            CH52430073378

Country                                                CH

Activity Code                                        281500

Activity Description                              Manufacture of bearings, gears, gearing and driving elements

Company Status                                   Active

 

 

Company Identification

 

Activities

Activity Code                281500

Activity Description      Manufacture of bearings, gears, gearing and driving elements

 

 

Basic Information

 

Company Name                                    I.T. INTERNATIONAL TRANSMISSIONS SA

Registered Company Name                  I.T. INTERNATIONAL TRANSMISSIONS SA

Company Registration Number            CH52430073378

Country                                                CH

Date of Company Registration             07/03/1977

Date of Starting Operations                  07/03/1977

Legal Form                                          Limited company

Company Status                                   Active

Principal Activity Code                         281500

Principal Activity Description               Manufacture of bearings, gears, gearing and driving elements

Contact Address                                   via Lische 4, Stabio, 6855

Contact Telephone Number                  0916416030

 

Main Address

 

Address                       Stabio, 6855

Country                        CH

Telephone                    0916416030

Email Addresses          it@it-int.transmissions.ch

 

Current Directors Managers

 

Name               Luisa Carozza Cassani

Address           Castel S. Pietro, 6874

Position           director

 

Name               Roberto Baronchelli

Address           Novazzano, 6883

Position           authorized officer

 

Name               Fabio Carlo Francesco Gaggini

Address           Porza, 6948

Position           single member of the board of directors

 

 

Share Capital Structure

 

Nominal Share Capital             0.50 (CHF)

Name                                       Vittorio Carozza

Address                                   Castel San Pietro, 6874

Share Percent                          100.00 %

 

 

Employee Information

 

Year

Number of Employees 50

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.24

UK Pound

1

Rs.99.89

Euro

1

Rs.84.22

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.