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Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
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Name : |
NAHUELCO S.A. |
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Registered Office : |
San Martin 140 piso 14, Buenos Aires City |
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Country : |
Argentine Republic |
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Date of Incorporation : |
10.08.1990 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Subject is engaged in the manufacture and commercialization of
industrial wire nettings and filters for water |
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No. of Employees |
35 |
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 : |
Unknown |
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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 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Argentina |
B1 |
B1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 |
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 |
NAHUELCO S.A. (SEE HISTORY)
CUIT: 33-50401419-9
Coming soon: BILFINGER WATER TECHNOLOGIES
S.A.
INCORPORATED IN 1990. BEGINNER OF ACTIVITIES. CONTINUED WITH THE
NEGATIVE OF
PROVIDED BALANCE SHEET. FIT FOR NEW CREDIT TREATMENT OF PRUDENTIAL
IMPORTANCE,
TAKE ADDITIONAL GUARANTEES.
INDUSTRIAL WIRE NETTINGS AND FILTERS
MANUFACTURE
COMMERCIALIZATION
Business type: Public
Limited Company
Incorporated: 1990
Registered: 10/08/1990
Duration: 08/10/2057
End of fiscal year: December
31st
AFIP AGENCIA 66 sita en Avda Cazon 201 de Tigre en la Provincia de
Buenos Aires.
Miss MARIA CESCHIN (Accountant).
Legal address: San Martin 140 piso 14, Buenos Aires City, Argentine
Republic.
Operative and Administrative address: Perdriel 3810 (1646) San Fernando,
Buenos Aires Province, Argentine Republic.
Phone/Fax: (54-11) 4714-6699
E-mail: info@nahuelco.com
President: LAURA
INES GONZALEZ MONDEJAR
Vice-president: TOMAS
ALESSANDRO BERTOLINI ZIKA
Director: GABRIEL
HORACIO SPENA
Alternate: JULIAN
PEREYRA HOLIM
The first two mentioned ones, as Managers, are in charge of the
management and administration of the company, with the use of the social
signature.
$ 1.589.541
The company was incorporated by mid-1990 with the objective of
performing its current activities, operating nowadays in the previously exposed
addresses.
It is related with the following companies:
> NAHUELCO CHILE S.A. (Chile)
> WEST WIRE LTDA. (Brazil)
Before has legal address in Avda. Santa Fé 1531, 5º piso, Buenos Aires
City, Argentine Republic.
-----------------------------------------------------------------------------------------------
So we also noted that on December 5, 2013 the owner change the name
Nahuelco BILFINGER SA WATER TECHNOLOGIES SA but not yet started to use it.
BILLS EVEN GIVE LOW SOCIETY NAHUELCO ANONIMA
Recorded in the official Gazette as follows:
NAHUELCO SA THAT RESOLUTION OF THE EXTRAORDINARY GENERAL MEETING HELD ON
AND
UNANIMOUS 5 DECEMBER 2013 IS RESOLVED UNANIMOUSLY REFORMING THE ARTICLE
1 OF
THE STATUTE FOR THE PURPOSE OF CHANGING THE NAME OF NAHUELCO SA BY WATER
TECHNOLOGIES SA DE BILFINGER ABOVE NAMED PIPES FILTERS JOHNSON SA AND ORIGINALLY
FORMED UNDER THE NAME OF PIPE FILTER JOHNSON ARGENTINA SAIYC
Continuation WHICH IS UNDER THESE NEW LAST NAME.
AUTHORIZED BY PRIVATE INSTRUMENT OF EXTRAORDINARY GENERAL MEETING
MINUTES DATED
DECEMBER 5, 2013 ANA ALEJANDRA Tretiak T. 54 F. 574 CPACF PUBLISHED IN
THE OFFICIAL NEWSLETTER OF ARGENTINA NRO. 32789 19TH DECEMBER 2013.
Continued with the negative of provided financial information to third
parties.
It isn't known if the company own properties and/or vehicles.
FAMIQ S.A.
ACERINOX S.A.
Payments: 30,60 and 90 days.
Credits: $ 350.000 annuals.
Concept: Normal.
The company is engaged in the manufacture and commercialization of
industrial wire nettings and filters for water, operating nowadays in the
previously exposed address. Surface covered of 2.500 m2.
It has an important infrastructure and organization, where its directors
participate together with the necessary staff.
It carries out imports (60% of its purchases) from Thailand, India,
France, Brazil and Chile. Its exports (50% of its products) are carried out to
Brazil, Uruguay, Peru, Chile, Venezuela, Mexico, Ecuador, Bolivia and Paraguay.
* 35 EMPLOYEES
MAIN SUPPLIERS:
---------------
SEW EURO TRADE S.A.
FAMIQ S.A.
ACERINOX S.A.
FOREIGN TRADE:
--------------
In the last twelve months it has carried out imports for a total value
of
u$s.106.160, from the following country:
Pakistan.....................u$s 106.160
BANKS:
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BBVA BANCO FRANCES Branch: Panamericana
BANCO COMAFI Principal Office
It is related with local and foreign suppliers. Many of them give it
their
credit support, not making up to now objections about its payment
record.
* FULFILLMENT: NOT OBJECTED
Bearing in mind the lack of financial information, for credit treatment
with this company by amounts of prudential importance and additional
guarantees.
* FIT FOR CREDIT NEW CREDITS.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
|
UK Pound |
1 |
Rs.99.34 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.