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Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
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Name : |
DOW AGROSCIENCES LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.07.1997 |
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Legal Form : |
LLC |
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Line of Business : |
Manufactures, and markets crop protection and plant biotechnology solutions. |
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No. of Employees |
3,500 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES ECONOMIC OVERVIEW
The
|
Source
: CIA |
Company name: DOW
AGROSCIENCES LLC
Address:
Telephone: +1 317-337-3000
Fax: +1 317-337-4096
Website: www.dowagro.com
Corporate ID#: 2768592
State:
Judicial form: LLC
Date incorporated: July 1, 1997
Stock
Value: A LLC has no stock
Name of
manager: Tim HASSINGER
Business:
Dow AgroSciences LLC develops, manufactures, and markets crop protection and plant biotechnology solutions.
It offers insecticides, herbicides, fungicides, fumigants, nitrogen stabilizers, seeds, traits, and oils; vegetation management solutions; and turf and ornamental solutions for golf courses, lawns, landscapes, greenhouses, and nurseries. The company also provides crop solutions that protects fields from weeds, insects, and diseases; pest management products that protects homes, commercial buildings, and historical structures from insect pests; post harvest protection products; and crop protection and weed management products for grains, corn, tomatoes, chilies, cotton, fruits and vegetables, horticulture, ornamental, pastures, and forestry. In addition, it offers products for range and pastureland; and cereals, corn, vegetable, cotton, fruit, and other markets. Further, the company provides solutions for structural pest management, post-harvest commodity, and turf and ornamental market segments. It serves farmers and growers in North America, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally.
Dow AgroSciences LLC was formerly known as DowElanco LLC and changed its name to Dow AgroSciences LLC in 1997.
The company was founded in 1989 and is based in
It provides its products in North America, Europe, the Middle East, Africa, Latin America, Asia-Pacific, and internationally.
Trademarks include BROADWAY, BRODBECK, CLINCHER, DAIRYLAND SEED, DITHANE, ENLIST, FENCER, GARLON, HYLAND, LONTREL, LORSBAN, MILESTONE, MYCOGEN, N-SERVE, NEXERA, PFISTER, PHYTOGEN, PRAIRIE BRAND SEEDS, PRIMUS, RADIANT, REFUGE ADVANCED, SENTRICON, STARANE, SURESTART, TELONE, TORDON, TRACER, TRIUMPH…
Last news:
May 22 14
Dow AgroSciences LLC and Sigma-Aldrich Corporation announced an exclusive manufacturing license and supply agreement that will allow Sigma-Aldrich to manufacture and supply zinc finger nuclease reagents for use with EXZACT(TM) Precision Technology. Under the terms of the agreement, Sigma-Aldrich will be the exclusive provider of ZFN reagents for use in plants which will be available to Dow AgroSciences, its affiliates and licensees of the EXZACT Precision Technology to enable precision transformation, trait stacking and targeted mutagenesis in plants. The EXZACT Precision Technology is a versatile and comprehensive multi-technology platform that enables targeted genome modification in plants. These technologies have been developed by Dow AgroSciences for use in plants. A core component of the platform is Sangamo Biosciences Inc.'s proprietary zinc finger technology, which Dow AgroSciences has licensed exclusively for use in plants with the ability to broadly sublicense to others in the plant technology space. Sigma-Aldrich was the partner of choice given its existing expertise in manufacturing ZFN reagents as part of the CompoZr(R) platform and excellent reputation for servicing clients in the Life Sciences market. This exclusive manufacturing and supply agreement marks an important milestone for DAS and its licensees, securing much-needed additional capacity and a competitive cost position for ZFN reagents. This is critical as the EXZACT Precision Technology is deployed in product development.
Mar 21 14
After more than 31 years of service, Antonio Galindez, president and CEO of Dow AgroSciences will retire from the company, effective May 1, 2014.
Tim Hassinger, global commercial leader for Dow AgroSciences
and global leader of Dow AgroSciences' Crop Protection Global Business Unit,
has been named as Galindez' successor. Since joining Dow in 1983 as a field
sales representative for agricultural products in
Suppliers include:
SEQUENT SCIENTIFIC
LIMITED
201, DEVARATA, SECTOR 17, VASHI, NAVI MUMBAI - 400 705
The Company exports also to South and
EIN: 35-178118
Staff: 3,500
Operations & branches:
At the
headquarters, we find the corporate office, warehouse and factory, owned.
The Company
maintains several branches in the
Shareholders:
Mycogen Corporation 51.00%
Centen Ag Inc. 38.91%
Rofan Services Inc. 10.09%
All are
subsidiaries of:
THE DOW
CHEMICAL CO.
2030
The Dow Chemical Company manufactures and supplies chemical products used as raw materials in the manufacture of customer products and services worldwide.
The Company
is listed with the NYSE under symbol DOW.
Management:
Tim HASSINGER is the President and CEO
Present here since May 2014.
He served as Vice President of Crops Business Unit at The
Dow Chemical Company since August 2009 and served as its Vice President for
Europe,
Subsidiaries
And partnership: Parts in worldwide corporations of the group
In
On a direct
call, a financial assistant controlled the present report.
Sales
declared for year 2013 is in the range of USD 800,000,000= verse
USD
760,000,000= in 2012.
The
business is profitable.
Banks: Bank One
...
Legal filings & complaints:
As of today date, there are several legal filing pending with various Courts, involving the Company as plaintiff or defendant.
Secured debts summary (UCC): Several
Haut du formulaire
Trade
references:
Date
reported: June 2014
High
credit: USD 50,000+
Now owing: 0
Past due: 0
Last
purchase: May 2014
Line of
business: Office supply
Paying
status: 5 days beyond terms
Date
reported: June 2014
High
credit: USD 4,500,000+
Now owing: 0
Past due: 0
Last
purchase: May 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: June 2014
High
credit: USD 12,000
Now owing: 0
Past due: 0
Last
purchase: May 2014
Line of
business: Telecommunications
Paying
status: 5 days beyond terms
Domestic credit history:
Domestic
credit history appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
|
|
National
Credit Bureaus gave a medium credit rating.
According to our credit analysts, during the last 6 months, domestic payments are made with an average of 5 days beyond terms.
International
credit history:
Payments of imports are currently made with an average of 2 to 5 days beyond terms.
Other comments:
The Company
maintains a strong business.
The Company
is in good standing.
This means
that all local and federal taxes were paid on due date.
The risk remains
low.
Our opinion:
A business
connection may be conducted.
Standard & Poor’s
|
|
|
Publication
date: 05-Aug-2011 20:13:14 EST |
·
We have lowered our long-term
sovereign credit rating on the United States of America to 'AA+' from 'AAA' and
affirmed the 'A-1+' short-term rating.
·
We have also removed both the short- and long-term ratings
from CreditWatch negative.
·
The downgrade reflects our opinion
that the fiscal consolidation plan that Congress and the Administration
recently agreed to falls short of what, in our view, would be necessary to
stabilize the government's medium-term debt dynamics.
·
More broadly, the downgrade
reflects our view that the effectiveness, stability, and predictability of
American policymaking and political institutions have weakened at a time of
ongoing fiscal and economic challenges to a degree more than we envisioned when
we assigned a negative outlook to the rating on April 18, 2011.
·
Since then, we have changed our
view of the difficulties in bridging the gulf between the political parties
over fiscal policy, which makes us pessimistic about the capacity of Congress
and the Administration to be able to leverage their agreement this week into a
broader fiscal consolidation plan that stabilizes the government's debt
dynamics any time soon.
·
The outlook on the long-term rating
is negative. We could lower the long-term rating to 'AA' within the next two
years if we see that less reduction in spending than agreed to, higher interest
rates, or new fiscal pressures during the period result in a higher general
government debt trajectory than we currently assume in our base case.
The
transfer and convertibility (T&C) assessment of the
debt service--remains
'AAA'.
We lowered our long-term rating
on the U.S. because we believe that the prolonged controversy over raising the
statutory debt ceiling and the related fiscal policy debate indicate that
further near-term progress containing the growth in public spending, especially
on entitlements, or on reaching an agreement on raising revenues is less likely
than we previously assumed and will remain a contentious and fitful process. We
also believe that the fiscal consolidation plan that Congress and the
Administration agreed to this week falls short of the amount that we believe is
necessary to stabilize the general government debt burden by the middle of the
decade.
Our lowering of the
rating was prompted by our view on the rising public debt burden and our
perception of greater policymaking uncertainty, consistent with our criteria
(see "Sovereign Government Rating Methodology and
Assumptions ," June 30, 2011, especially Paragraphs 36-41). Nevertheless,
we view the
We have taken the ratings
off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment
of 2011 has removed any perceived immediate threat of payment default posed by
delays to raising the government's debt ceiling. In addition, we believe that
the act provides sufficient clarity to allow us to evaluate the likely course
of
The
political brinksmanship of recent months highlights what we see as
the containment of which
we and most other independent observers regard as key to long-term fiscal
sustainability.
Our opinion is that
elected officials remain wary of tackling the structural issues required to
effectively address the rising U.S. public debt burden in a manner consistent
with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and
Assumptions," June 30, 2011, especially Paragraphs 36-41). In
our view, the difficulty in framing a consensus on fiscal policy weakens the
government's ability to manage public finances and diverts attention from the
debate over how to achieve more balanced and dynamic economic growth in an era
of fiscal stringency and private-sector deleveraging (ibid). A new political
consensus might (or might not) emerge after the 2012 elections, but we believe
that by then, the government debt burden will likely be higher, the needed
medium-term fiscal adjustment potentially greater, and the inflection point on
the U.S. population's demographics and other age-related spending drivers
closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely
Cost Even More Green, Now," June 21, 2011).
Standard & Poor's
takes no position on the mix of spending and revenue measures that Congress and
the Administration might conclude is appropriate for putting the
The act calls for as much
as $2.4 trillion of reductions in expenditure growth over the 10 years through
2021. These cuts will be implemented in two steps: the $917 billion agreed to
initially, followed by an additional $1.5 trillion that the newly formed
Congressional Joint Select Committee on Deficit Reduction is supposed to
recommend by November 2011. The act contains no measures to raise taxes or
otherwise enhance revenues, though the committee could recommend them.
The act further provides
that if Congress does not enact the committee's recommendations, cuts of $1.2
trillion will be implemented over the same time period. The reductions would
mainly affect outlays for civilian discretionary spending, defense, and
Medicare. We understand that this fall-back mechanism is designed to encourage
Congress to embrace a more balanced mix of expenditure savings, as the
committee might recommend.
We note that in a letter
to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated
total budgetary savings under the act to be at least $2.1 trillion over the
next 10 years relative to its baseline assumptions. In updating our own fiscal
projections, with certain modifications outlined below, we have relied on the
CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to
include the CBO assumptions contained in its Aug. 1 letter to Congress. In
general, the CBO's "Alternate Fiscal Scenario" assumes a continuation
of recent Congressional action overriding existing law.
We view the act's
measures as a step toward fiscal consolidation. However, this is within the
framework of a legislative mechanism that leaves open the details of what is
finally agreed to until the end of 2011, and Congress and the Administration
could modify any agreement in the future. Even assuming that at least $2.1
trillion of the spending reductions the act envisages are implemented, we
maintain our view that the
Compared with previous
projections, our revised base case scenario now assumes that the 2001 and 2003
tax cuts, due to expire by the end of 2012, remain in place. We have changed
our assumption on this because the majority of Republicans in Congress continue
to resist any measure that would raise revenues, a position we believe Congress
reinforced by passing the act. Key macroeconomic assumptions in the base case
scenario include trend real GDP growth of 3% and consumer price inflation near
2% annually over the decade.
Our revised upside
scenario--which, other things being equal, we view as consistent with the
outlook on the 'AA+' long-term rating being revised to stable--retains these
same macroeconomic assumptions. In addition, it incorporates $950 billion of
new revenues on the assumption that the 2001 and 2003 tax cuts for high earners
lapse from 2013 onwards, as the Administration is advocating. In this scenario,
we project that the net general government debt would rise from an estimated
74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
Our revised downside
scenario--which, other things being equal, we view as being consistent with a possible
further downgrade to a 'AA' long-term rating--features less-favorable
macroeconomic assumptions, as outlined below and also assumes that the second
round of spending cuts (at least $1.2 trillion) that the act calls for does not
occur. This scenario also assumes somewhat higher nominal interest rates for
U.S. Treasuries. We still believe that the role of the U.S. dollar as the key
reserve currency confers a government funding advantage, one that could change
only slowly over time, and that Fed policy might lean toward continued loose
monetary policy at a time of fiscal tightening. Nonetheless, it is possible
that interest rates could rise if investors re-price relative risks. As a
result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in
10-year bond yields relative to the base and upside cases from 2013 onwards. In
this scenario, we project the net public debt burden would rise from 74% of GDP
in 2011 to 90% in 2015 and to 101% by 2021.
Our revised scenarios
also take into account the significant negative revisions to historical GDP
data that the Bureau of Economic Analysis announced on July 29. From our
perspective, the effect of these revisions underscores two related points when
evaluating the likely debt trajectory of the
When comparing the U.S.
to sovereigns with 'AAA' long-term ratings that we view as relevant
peers--Canada, France, Germany, and the U.K.--we also observe, based on our
base case scenarios for each, that the trajectory of the U.S.'s net public debt
is diverging from the others. Including the
Standard & Poor's
transfer T&C assessment of the
The outlook on the
long-term rating is negative. As our downside alternate fiscal scenario
illustrates, a higher public debt trajectory than we currently assume could
lead us to lower the long-term rating again. On the other hand, as our upside
scenario highlights, if the recommendations of the Congressional Joint Select
Committee on Deficit Reduction--independently or coupled with other
initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high
earners--lead to fiscal consolidation measures beyond the minimum mandated, and
we believe they are likely to slow the deterioration of the government's debt
dynamics, the long-term rating could stabilize at 'AA+'.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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Report Prepared
by : |
|
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 |
-- |
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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.