MIRA INFORM REPORT

 

 

Report Date :

17.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ROGIRO ACEROS S A

 

 

Registered Office :

Límite del Municipio 4515 A, Lote 1, 2000 Rosario, Santa Fe

 

 

Country :

Argentina

 

 

Date of Incorporation :

20.07.1978

 

 

Legal Form :

Sociedad Anónima

 

 

Line of Business :

Manufacturer of Steel

 

Subject product ranges includes:

·         Long steel engineering

·         Steels for construction

·         Steel profiles

·         Formed structural tubes and profiles

·         Rods and Tubes Trefilados

·         Rectified bars and / or polished

·         Peeled Bars (Turning coreless)

·         Automatic or manual cutting Saw

·         Straightening of round bars

·         Blasting bar

 

 

No of Employees :

95

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Argentina

b1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 2012 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 2012 the government also further tightened currency controls in an effort to bolster foreign reserves and stem capital flight. During 2013, the government continued with a mix expansionary fiscal and monetary policies and foreign exchange and imports controls to limit the drain in Central Bank foreign reserves, which nevertheless dropped US $12 billion during the year. GDP grew 3% and inflation remained steady at 25%, according to private estimates. In October 2013, the government settled long-standing international arbitral disputes (including with three US firms) dating back to before and following the 2002 Argentine financial crisis. In early 2014, the government embraced a series of more orthodox economic policies. It devalued the peso 20%, substantially tightened monetary and fiscal policies, and took measures to mend ties with the international financial community, including: engaging with the IMF to improve its economic data reporting, reaching a compensation agreement with Repsol for the expropriation of YPF, and presenting a proposal to pay its arrears to the Paris Club.

 

Source : CIA

Company identification

 

Comments:

The address provided corresponds to the name of the manager.

Legal Name:

ROGIRO ACEROS S A

Trade Name:

ROGROS

CUIT:

30-55466811-5

Date Created:

1978

Date Incorporated:

20/07/1978

Legal Address:

Límite del Municipio 4515 A, Lote 1, 2000 Rosario, Santa Fe

Operative Address:

Límite del Municipio 4515 A, Lote 1, 2000 Rosario, Santa Fe

Telephone:

54 (0341) 4581045

Fax:

54 (0341) 4581045

Legal Form:

Sociedad Anónima

Email:

rogros@arnet.com.ar

Registered in:

AGENCIA-SEDE N.2 ROSARIO
COCHABAMBA N° 1550
2000 SANTA FE

Website:

www.rogiroaceros.com

Manager:

Pedro Martinovic

Staff:

95

Activity:

Steel Manufacturer

BANKS

 

 

According to Argentinian Central Bank, the company maintains credit lines with the following banks:

BANK

AMOUNT IN AR$

BANCO MACRO S.A.

12367

BANCO CREDICOOP COOPERATIVO LIMITADO

9823

BANCO SUPERVIELLE S.A.

5515,7

BANCO INDUSTRIAL

4117,7

BANCO MUNICIPAL DE ROSARIO

2790

BANCO CMF S.A.

2437,7

INDUSTRIAL AND COMMERCIAL BANK OF CHINA

2425,4

F.F. SUPERVIELLE LEASING 8

59,5

 

According to the classification of banking relations of Argentina, the company operates with the following level: 1.

 

This is the highest classification in the system. It means that the company/person is fulfilling correctly its current Credit obligations. This is therefore positive information that will enable the granting of any line of credit.

HISTORY

 

 

The company started business in 1978

PRINCIPAL ACTIVITY

 

 

The company is dedicated to the steel manufacture.

Products/Services description:

·         Long steel engineering

·         Steels for construction

·         Steel profiles

·         Formed structural tubes and profiles

·         Rods and Tubes Trefilados

·         Rectified bars and / or polished

·         Peeled Bars (Turning coreless)

·         Automatic or manual cutting Saw

·         Straightening of round bars

·         Blasting bar

Brands:

ROGIRO ACEROS

 

Sales are:

Wholesale

Clients:

Professionals of the industry

 

Suppliers:

Brazilian supplliers

 

Operations area:

National

 

The company imports from

Brazil

 

The company exports to

South America

 

The subject employs

95 employees

 

Payments:

Regular-made on a 35 day basis-monitored the last 6 months.

LOCATION

 

Headquarters :

Límite del Municipio 4515 A, Lote 1, 2000 Rosario, Santa Fe

 

Branches:

The company has branches in Córdoba and Buenos Aires

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES                                 

 

Listed at the stock exchange:

NO

 

Capital:

AR$ 20 000 000

 

Shareholders %:

Shareholders:

Oscar Jaime Gindin
Adriana Rozin de Gindin
Damián Pablo Rozin y Diego Ariel Gindin

 

Management:

Néstor Rubén Rozin, President
Oscar Jaime Gindin, Manager
Adriana Rozin de Gindin, Manager
Damián Pablo Rozin, Manager
Diego Ariel Gindin, Manager

 

Related Companies:

No subsidiary companies

 

 

FINANCIAL INFORMATION   

 

This is a private company which does not make its financial statements public. The following information has been confirmed by our private sources.                                         

                                                                             

CURRENCY

AR$

DATE

2013

NET INCOME

10.895.563,35

CASH FLOW

Good

LEGAL FILINGS

 

 

There are no legal/criminal connected to the subject

 

SUMMARY      

 

ROGIRO ACEROS SA is an Argentinain steel manufacturer with 40 years of experience in the market.

It is active in business and has a medium sized structure.

The companys profitability is positive and has had surplus in the last years financials.

The company has credit lines with well known banks.

 

 

RISK INFORMATION

             

DEBTS

Controlled-Total debt of AR$ 3 953 600

 

PAYMENTS

Regular-made on a 35 day basis-monitored iver the last 6 months.

CASH FLOW

Good

 

SUGGESTED CREDIT LINE

USD 250 000

 

STATUS

ACTIVE

 

 

ENTERVIEW

 

 

NAME

Pablo

 

POSITION

Administrative

 

COMMENTS

He confirmed address, activity and manager. He refused to provide us with more data.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.41

UK Pound

1

Rs.99.30

Euro

1

Rs.79.00

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MNL

 

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.