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Report Date : |
05.06.2014 |
IDENTIFICATION DETAILS
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Name : |
BASF MEXICANA S.A.
DE C.V. |
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Registered Office : |
Insurgentes Sur 975, Col. Ciudad de los Deportes, Delg.
Benito Juárez 03710 México DF |
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Country : |
Mexico |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
10.09.1981 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Subject is engaged in the production, processing and sale of
chemicals, technical-chemical and metallurgical of all kinds, especially
plastics, raw materials for fibers, dyes and auxiliary dyes, nitrogen
compounds, fertilizers, pesticides, and magnetographic recorded, among other
activities |
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No. of Employees |
1,340 |
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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Mexico |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
MEXICO ECONOMIC OVERVIEW
Mexico's $1.3 trillion economy has become increasingly oriented toward manufacturing in the 20 years since the North American Free Trade Agreement (NAFTA) entered into force. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Mexico has become the United States' second-largest export market and third-largest source of imports. In 2013, two-way merchandise trade reached nearly $507 billion. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership negotiations and formed the Pacific Alliance with Peru, Colombia and Chile. Mexico's current government, led by President Enrique PENA NIETO, emphasized economic reforms during its first year in office, passing education, energy, financial, fiscal and telecommunications reform legislation. The three-party "Pact for Mexico" reform agenda aims to improve competitiveness and economic growth across the Mexican economy
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Source
: CIA |
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CORRECT COMPANY
NAME |
BASF MEXICANA S.A. DE C.V. |
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TRADE NAME |
BASF MEXICANA |
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TAXPAYER
REGISTRATION |
RFC BME8109104S6 |
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MAIN ADDRESS |
Insurgentes Sur 975, Col. Ciudad de los Deportes, Delg. Benito Juárez |
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POSTAL CODE |
03710 |
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DEPT/PROV/REGION/STATE |
México DF |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 53252600 |
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CORPORATE E-MAIL |
ralphschweens@basf.com |
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WEB |
www.basf.com.mx |
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COMMENTS |
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Clarify the correct legal name of this company is as indicated in the report. FAX: (55) 53252777 - 56116145 Additional email: markus.fieseler@basf.com verónica_berenice.hernandez@basf.com avisodeprivacidad@basf.com legal@basf.com |
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EXECUTIVE
SUMMARY
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Date of
foundation |
1981 |
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Capital stock |
Not specified |
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permanent
employees |
1,340 |
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Chief Executive |
STUMPP, MICHAEL |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Payments policy |
Usually to terms / good |
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Number of times that this company was required: 12 |
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REPUTATION |
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NOTHING AGAINST COMPANY |
LEGAL
STRUCTURE
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF
INCORPORATION |
10SEP1981 |
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PLACE OF
REGISTRY |
Mexico DF |
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NOTARY OFFICE |
DURATION |
99 years |
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CURRENT PAID-IN
CAPITAL |
Not specified |
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PARENT COMPANY |
BASF AKTIENGESELLSCHAFT(GERMANY) |
LISTED AT STOCK |
No |
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CURRENT EXCHANGE
RATE (US$) |
Ps$.12.94 per USADollar |
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MEMBERSHIP |
Chamber of the Industry of Transformation - CANACINTRA. |
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COMMENTS |
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-BASF Mexicana S.A. de C.V., has been serving the market in the country for over 50 years. -The head office is located in Mexico City and has regional offices in Guadalajara, Monterrey, Merida and Tijuana. -In its manufacturing plants, applies the same rigorous quality control and ISO certified processes, which characterize the value added and high quality of its products worldwide. -BASF Mexicana S.A. de C.V., through its human resources department is working to build the best team to provide innovative solutions tailored to help its clients to have greater success. -Michael Stumpp, is the successor of Ralph Schweens in the position of President of BASF Group in Mexico, Central America and the Caribbean , based in Mexico city, effective from September 1, 2013 |
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DIRECTORS
- EXECUTIVES – SHAREHOLDERS
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WHO
IS WHO?
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STUMPP, MICHAEL |
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TITLE |
President |
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NATIONALITY |
German |
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D.O.B. |
01/1957 in Ehingen-Germany |
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BACKGROUND
INFORMATION |
President of BASF in Mexico, Central America and the Caribbean. He got a Ph.D. in Chemistry from the University of Konstanz, Germany, in 1985. He began his career in the same year as laboratory chemist in the Department of Research and Development for Dyes , at BASF Aktiengesellschaft , Ludwigshafen , Germany. In 1990 was Plant Manager, Plant of Dyes, at BASF Mexicana, Mexico City , and in 1996 , he was Director of Marketing, Sales and Production of Textiles , Leather and Paper Division at BASF Mexicana. During 2001 occupied the Vice - presidency of the Group , Performance Chemicals Group North America, BASF Corporation , New Jersey , USA and in 1997 was appointed Vice - President of the Group in North America for Dyes , BASF Corporation , New Jersey . In 2003 was the Group Vice President and General Manager of BASF Global Business PrintingSystems, Stuttgart , Germany. During 2005 he was Vice - President of the Group , Global Business Unit for Specialty Plastics , BASF Aktiengesellschaft , Ludwigshafen (BASF SE since January 14, 2008 ) , Germany. In 2009 he returned to Ludwigshafen , Germany , to the position of Senior Vice President of Home & Personal Care Global Busines . Since 2013 , Stumpp is President of the BASF Group in Mexico . |
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FIESELER, MARKUS |
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TITLE |
Adm.And Finance Director |
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NATIONALITY |
German |
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ASSOCIATED AS
PER OUR DATABASE TO |
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HERNÁNDEZ, VERÓNICA BERENICE |
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TITLE |
Director Corporate Affair |
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NATIONALITY |
Mexican |
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BASF AKTIENGESELLSCHAFT |
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BUSINESS BACKGROUND German Society controlling shares of companies linked to the chemical industry (these companies are engaged in the production, processing and sale of chemicals, technical-chemical and metallurgical of all kinds, especially plastics, raw materials for fibers, dyes and auxiliary dyes, nitrogen compounds, fertilizers, pesticides, and magnetographic recorded, among other activities). |
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BUSINESS
HISTORY
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-The first commercial relations of BASF in Mexico date back to the twentieth century. In 1890 leased a commercial establishment to conduct sale of BASF products. -After the Second World War, BASF builds its business in Mexico through marketing companies. In 1964, however, with the acquisition of AISLANTES INDUSTRIALES, BASF also became active as a manufacturer in the country. -The Mexican company, which changed its name to BASF Mexicana, produced and worked at that time the styrofoam facility in Santa Clara, Mexico City. -Shortly after the acquisition, it became evident that the expansion of production land did not offer enough space any more. -Consequently, BASF Mexicana acquired in 1966 a new site in Santa Clara (Santa Clara II). It is there, in 1968, when production of styrofoam begins at new facilities . However, exactly 10 years later, BASF sells its Mexican styrofoam operations to the company Polioles, S.A. de CV, a joint venture between BASF and the Mexican corporation ALFA. -From the beginning, BASF Mexicana has worked to diversify its products portfolio. Since 1967, the company produces process chemicals, and since 1968 paints and since 1970 dispersions. -With the acquisition of Pigmex (Cuautla), BASF Mexicana began operations in the field of inorganic pigments. -In cooperation with the German company Elastogran GmbH, a subsidiary of BASF also installed in the same year a Division of Polyurethanes in the company BASF Mexicana. Application of Polyurethanes is mainly in the footwear industry but also opened new opportunities for other applications. -In 1994, BASF Mexicana transfers the polyurethane business to Polioles. -A new era in the history of the BASF Group in Mexico began in 1990 with the foundation stone for the construction of the new site in Altamira on the Gulf of Mexico. The new site became necessary for all subsidiaries of BASF in Mexico, as the expansion of new production sites in the area of Mexico City has not been possible. -The goal is for their site in Altamira, which first began operations in 1995, for long-term development as a strategic site at NAFTA -By general extraordinary meeting of shareholders of BASF Mexicana S.A. de C.V. and BASF Coatings de México S.A. de C.V., held on August 31, 2005, resolved to merge such companies, as a result of the merger, and BASF Coatings de México S.A. de C.V. disappear as merged company, to be incorporated into BASF Mexicana S.A. de C.V., which will remain as merging or acquiring company. -By general extraordinary meeting of shareholders of BASF Mexicana S.A. de C.V. and BASF Construction Chemicals México S.A. de C.V., both held on May 31, 2007, resolved to merge such companies, in consequence of the merger, BASF Construction Chemicals México S.A. de C.V., will disappear as merged company, to be incorporated into BASF Mexicana S.A. de C.V., which will remain as merging or acquiring company. -By general extraordinary meeting of shareholders of BASF Mexicana S.A. de C.V. and Cognis Mexicana S.A. de C.V., both held on March 10, 11, 2011, resolved to merge such companies, in consequence of the merger, Cognis Mexicana S.A. de C.V., will disappear as merged company, to be incorporated into BASF Mexicana S.A. de C.V., which will remain as merging or acquiring company. Related Companies: The Subject is a subsidiary of BASF considered the leading chemical company in the world : " The Chemical Company" . Its portfolio ranges from chemicals, plastics , performance products and products for crop protection , to oil and gas. It combines economic success with environmental protection and social responsibility . Through science and innovation enables its customers in virtually all industries to meet the current and future needs of society. Its products and solutions contribute to conserving resources, ensuring nutrition and improve the quality of life. In 2013 , BASF posted sales of 74 billion Euros and had approximately 112,000 employees at year's end . BASF shares are traded on the stock exchanges in Frankfurt (BAS ), London ( BFA) and Zurich ( AN). The company is related to the following companies: |
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RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER |
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BUSINESS
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SIC
Classification |
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Main activity |
BASF Mexicana S.A. de C.V., is dedicated to the development of customized solutions that add value to its customers' products. The company supplies approximately 400 products to customers in a wide range of industries. The portfolio includes products as diverse as chemicals, plastics and performance products to agricultural products, fine chemicals and oil and gas. TRADEMARK: BASF (owned by the Corporation). |
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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 |
United States, Germany, England, Belgium, China, Hong Kong, Brazil, etc through direct credit. |
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Export |
Yes |
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COUNTRY |
United States and countries of South America and Central America, through direct credit |
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% CASH SALES /
METHOD |
15% |
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% Credit SALES /
Terms |
85% (terms: 30 Days) |
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% Ventas
exterior (Paises) |
35% |
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% DOMESTIC
PURCHASES |
55% |
% FOREIGN
PURCHASES |
45% |
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SELLING
TerritorY |
Domestic and foreign markets |
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EMPLOYEES |
1,340 |
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Comments
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CUSTOMERS: Most products manufactured by BASF are not sold directly to consumers as finished products, but to manufacturers and industrial users who rely on BASF products and technology to improve what they do and sell, such as: -Polímeros Nacionales S.A. de C.V. -Polyresinas S.A. de C.V. -Promaplast S.A. de C.V. -Brenntag México S.A. de C.V. -Plásticos y Compuestos S.A. de C.V. -Entecresins México S.A. de C.V. -DVA Mexicana, S.A. de C.V. -Basf S.A. (Spain) -Basf Performance Productos Trading (China) -Global Champion Ltd. (Hong Kong) -Styrolution Belgium N.V. (Belgium) The company is associated with the "National Chamber of Transformation Industry (CANACINTRA)". -The Subject is also a member of the "American Chamber of Commerce of México A.C. (AMCHAM)". |
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FINANCIAL
INFORMATION
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Information
provided |
All information contained in this report was obtained through a compilation of data from different external sources because directly refused to provide any type of business and financial information of the company on grounds of confidentiality. We clarify that at the reception desk we were told that by security they can not provide names of the Directors of the company and can not transfer calls or make appointments with executives for this kind of information. |
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Comments |
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CONSOLIDATED BALANCE SHEET OF "BASF" AS OF MARCH 31, 2014 BALANCE SHEET DATE : 31MAR2014 BALANCE SHEET OF : 3 months TYPE OF CURRENCY : Euros ASSETS TOTAL CURRENT : 30,484,000,000.00 NONCURRENT : 37,456,000,000.00 TOTAL ASSETS : 67,940,000,000.00 LIABILITIES TOTAL CURRENT : 15,300,000,000.00 NONCURRENT : 24,254,000,000.00 SHAREHOLDERS' EQUITY :
28,386,000,000.00 TOTAL LIABILITIES/EQUITY: 67,940,000,000.00 SALES : 19,512,000,000.00 PROFIT (LOSS) : 1,477,000,000.00 |
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SALES |
US$ 0.00 () |
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FINANCIAL
SITUATION |
Good Despite no balance sheets were available to assess the company results individually, we point out it has the support of the group it belongs to. It is publicly known that the Company operates without problems. It fulfills its payment obligations satisfactorily. |
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Property of
company comments |
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Subject's main assets include: - Office furniture and equipment - Computer equipment - Vehicles - Machinery and equipment - Warehouse equipment - Laboratories |
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INSURANCE |
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TRADE
REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS
(Confidential Information) |
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TRADE REFERENCES |
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Subject is a very important and very well referred company in the market and no negative notes againts it appears in credit bureaus. |
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Note : Other suppliers did not provide information or could not be consulted |
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No negative were found in the different sources researched to this moment. |
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GENERAL
INFORMATION
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Explanation
about commercial reputation |
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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.59.34 |
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|
1 |
Rs.99.18 |
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Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.