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Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
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Name : |
TINTATEX SA |
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Registered Office : |
Autopista Medellín-Bogotá Km. 41 Marinilla, Antioquia |
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Country : |
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Date of Incorporation : |
28.08.2005 |
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Legal Form : |
Stock Company |
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Line of Business : |
Manufacture and marketing of textile products |
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No. of Employees |
170 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Colombia |
B1 |
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 |
COLOMBIA ECONOMIC
OVERVIEW
Colombia's consistently sound economic policies and aggressive promotion of free trade agreements in recent years have bolstered its ability to weather external shocks. Real GDP has grown more than 4% per year for the past three years, continuing almost a decade of strong economic performance. All three major ratings agencies have upgraded Colombia's government debt to investment grade. Nevertheless, Colombia depends heavily on energy and mining exports, making it vulnerable to a drop in commodity prices. Colombia is the world's fourth largest coal exporter and Latin America’s fourth largest oil producer. Economic development is stymied by inadequate infrastructure and an uncertain security situation. Moreover, the unemployment rate of 9.7% in 2013 is still one of Latin America's highest. The SANTOS Administration's foreign policy has focused on bolstering Colombia's commercial ties and boosting investment at home. Colombia has signed or is negotiating Free Trade Agreements (FTA) with more than a dozen countries; the US-Colombia FTA went into force on May 2012. Colombia is also a founding member of the Pacific Alliance - a regional grouping formed in 2012 by Chile, Colombia, Mexico, and Peru to promote regional trade and economic integration. In 2013, Colombia began its ascension process to the OECD. The annual level of foreign direct investment - notably in the oil and gas sectors - reached a record high of $16.8 billion in 2013, an increase of 7% over 2012. Inequality, poverty, and narcotrafficking remain significant challenges, and Colombia's infrastructure requires major improvements to sustain economic expansion
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Source
: CIA |
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COMPANY NAME |
TINTATEX SA |
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TAX ID TYPE |
NIT |
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TAX ID NUMBER |
900.043.170-3 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Autopista Medellín-Bogotá Km. 41 |
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CITY/PROVINCE/STATE |
Marinilla, Antioquia |
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PHONE NUMBER(S) |
(57-4) 561.5611 |
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FAX NUMBER |
(57-4) 565.2780 |
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contador2@tintatex.com |
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PAYMENT HISTORY |
PAYMENTS USUALLY PROMPT |
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COMMENTS OF IDENTIFICATION.- |
This report was ordered with address: Company Information Antopista Medellin Bogota Km 4 Marinilla Antioqnia Colombia. Please be noted that the complete and correct address of the subject is as shown above. |
LEGAL ASPECTS
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
26/08/2005 |
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REGISTERED IN |
Medellin |
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DURATION |
26/08/2025 |
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NOTARY OFFICE |
Nº 20 |
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REGISTRATION |
Deed No.11278 |
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COMMENTS ON LEGAL
ASPECTS .- |
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On 26/08/2005 the subject was established under public deed No.11278 in Notary office No.20 of Medellin. On 02/09/2005, the subject was required in the Oriente Antioqueño Chamber of Commerce, under registration N° 52224. |
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BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
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NAME |
JOB TITLE |
% STAKE |
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CORREA SANCHEZ, JAIRO ERNESTO |
General Manager/Legal Rep. |
10% |
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URREA TRUJILLO, CARLOS ALBERTO |
Alternate Manager/Alt. Legal Rep. |
46% |
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RENDON, GUSTAVO |
Finance Manager |
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JIRALDO, NATALIA |
General Accountant |
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JIRALDO, LUIS ALBERTO |
Shareholder |
12% |
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TAMALLO, JAVIER |
Shareholder |
32% |
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WHO IS WHO? |
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CORREA SANCHEZ, JAIRO ERNESTO |
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Colombian, ID, 17333572, . |
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URREA TRUJILLO, CARLOS ALBERTO |
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Colombian, ID, 71603036, . |
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LITIGATIONS |
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No lawsuits filed against company name. |
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PAID-UP CAPITAL |
Ps$150,000,000.00 Pesos |
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LAST CAPITAL INCREASE |
Year 2013 |
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TYPE OF SHARES |
Registered Shares |
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LISTED AT STOCK EXCHANGE |
NO |
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IMPORTS |
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YEAR |
2013 |
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AMOUNT |
US$ 4,859,815.16 |
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YEAR |
2012 |
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AMOUNT |
US$ 206,009.16 |
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YEAR |
2011 |
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AMOUNT |
US$ 52,807.43 |
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PAYMENTS |
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TRADE REFERENCES |
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TYPE OF SUPPLIER |
NATIONAL |
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CREDIT FACILITIES |
No current operations limit |
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SUPPLIER FROM |
Since 8 years ago |
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DEADLINES |
at 60 days |
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PRODUCTS SOLD |
Cleaning products, disinfectants |
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COMMENTS.- |
Good client Settles through bank transfers. |
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CREDIT FILES |
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Other consulted suppliers do not give any information of their clients by policy of companies |
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LOCAL SUPPLIERS |
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Name |
Contact |
Telephone |
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PROQUIM INDUSTRIAL S.A.S |
Marcela
Gonzalez |
(57-2) 336.8970 |
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CECOLOR
MEDELLIN S.A.S. |
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(57-4) 3780.808 |
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FOREIGN SUPPLIERS |
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Name |
Contact |
Telephone/fax |
Country |
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THIES GMBH & CO KG |
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GERMANY |
N/a
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FINANCIAL
INFORMATION |
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CONTENT.- |
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During our investigation, we interviewed Ms. Natalia Jiraldo (General Accountant) who supplied business and general information regarding the subject except for financial figures since the inquirer's name was required. Our investigation through the outside sources showed no financial data about the subject. The subject is an industrial company established in 2005 which registers no detrimentals regarding its trade operations. COUNTRY CONTEXT - COLOMBIA: The below Country comments were obtained from a highly regarded public source that issues economic comments on all of World` s countries. Taxes: Colombian income tax: 38.5% on the net profit-business:. Tax agreements with the Andean Community and Spain which allow residents in this countries to have a special tax treatment. Alphabetic currency code for every country, established by the International Organization for Standardization (ISO) 4217: Colombian Peso (COP) Main economic indicators: External debt: US$85.83 billion (31 December 2013 est.) International reserves: US$43.74 billion (31 December 2013 est.) Inflation rate : 2.2% (2013 est.) GDP growth rate: 4.2% (2013 est.) Annual GDP per capita: US$11,100 (2013 est.) GDP - composition, by sector of origin: agriculture: 6.6% industry: 37.8% services: 55.6% (2013 est.) Labour force of 23.08 million people (2013 est.) divided by: agriculture: 17% industry: 21% services: 62% Unemployment rate: 9.7% (2013 est.) Productive sectors: Agriculture - products: coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; shrimp; forest products Industries: textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds Foreign trade: Exports: $58.7 billion (2013 est.) country comparison to the world: 56 $59.85 billion (2012 est.) Exports - commodities: petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel Exports - partners: US 36.6%, China 5.5%, Spain 4.8%, Panama 4.7%, Venezuela 4.4%, Netherlands 4.1% Imports: $53.5 billion (2013 est.) country comparison to the world: 54 $54.64 billion (2012 est.) Imports - commodities: industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity Imports - partners: US 24.2%, China 16.3%, Mexico 10.9%, Brazil 4.8% Country risks: Commercial Country Risk: MEDIUM Political Country Risk: LOW |
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DETAILS OF FIXED
ASSETS.- |
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Main assets include: - Machinery - Equipment and materials - Vehicles - Computer systems - Office accesories and furniture |
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INSURANCE.- |
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The subject holds all loss insurance policy with ALLIANZ SEGUROS SA (coverage amount and maturity date were not disclosed). |
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RATE OF EXCHANGE |
US$1.00 = Ps$1883.00 as of report date |
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OPERATIONS |
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SECTOR |
1.-INDUSTRY |
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ACTIVITY |
TEXTILES/ FABRICS |
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ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION, PUBLISHING, CASTING, CONSTRUCTION) |
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MAIN ACTIVITY |
Manufacture and marketing of textile products, likewise it provides dyeing services. House brand: "TINTATEX" |
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% CASH SALES/PAYMENT METHOD |
20% |
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% CREDIT SALES/TERMS |
80% (Terms at 60, 90 days) |
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TERRITORY OF SALES |
100% (Domestic Market) |
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% LOCAL PURCHASING |
60% |
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% FOREIGN PURCHASING |
40% |
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N. OF EMPLOYEES |
170 on average |
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LOCATION |
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HEADQUARTERS: Located at captioned address. Owned premises of easy access. Located in an industrial address of the city. No branches were located. |
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COMMENTS OF
OPERATIONS.- |
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Sales are conducteed 100% directly. It imports from Singapore, India, China, Germany, India, Indonesia, Taiwan, Vietnam, USA and Brazil. It has a portfolio of 50 - 100 active clients. Main assets include:Some of them are: - LINEA DIRECTA SA - ALMACENES TEXTIELES GUIPUL SAS According to the Superintendency of Industry and Commerce, the subject registers the following trademark: - TINTATEX (File Nº 05116605 and 05116607) |
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BANKERS / REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO COMERCIAL AV VILLAS SA |
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COLOMBIA |
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BANK COMENTS |
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Consulted bank does not give any information of its clients due to bank secrecy. |
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CENTRAL RISK |
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The subject does not register protested documents neither returned checks nor promissory notes against itself. |
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N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.25 |
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1 |
Rs.103.02 |
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Euro |
1 |
Rs.81.90 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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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 |
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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.