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Report Date : |
14.06.2014 |
IDENTIFICATION DETAILS
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Name : |
GRUPO SURTITEX
SA |
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Formerly Known As : |
SURTIJEANS SA. |
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Registered Office : |
Calle 17-A No.69-87, Bodega 2, Zona Industrial Montevideo,
Fontibon Bogota, Cundinamarca |
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Country : |
Colombia |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
2392809 |
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Legal Form : |
Stock Company |
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Line of Business : |
Import and commercialization of textiles. |
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No. of Employees |
15 |
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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Colombia |
B1 |
B1 |
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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 |
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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IDENTIFICATION |
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COMPANY NAME |
GRUPO SURTITEX SA |
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TAX ID TYPE |
NIT |
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TAX ID NUMBER |
811028538-4 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Calle 17-A No.69-87, Bodega 2, Zona Industrial Montevideo, Fontibon |
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CITY/PROVINCE/STATE |
Bogota, Cundinamarca |
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PHONE NUMBER(S) |
(57-1) 405.1818 |
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FAX NUMBER |
(57-1) 405.3031 |
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gst@gruposurtitexsa.com |
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WEB SITE |
www.gruposurtitexsa.com |
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info@gruposurtitexsa.com |
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PAYMENT HISTORY |
PAYMENTS USUALLY PROMPT |
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COMMENTS OF IDENTIFICATION.- |
The report was ordered with address: Bogota, Zona Industrial Montevideo, Cll 17A # 69 - 87 Bodega 2. Please be noticed that the correct and complete form of this address is as shown in caption. |
LEGAL ASPECTS |
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
1998 |
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REGISTERED IN |
Cucuta |
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DURATION |
Undefined |
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REGISTRATION |
Certificate No.2392809 |
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BACKGROUND (HISTORY).- |
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The subject was originally established as SURTIJEANS SA. Then, the company name was changed to the current one GRUPO SURTITEX SA. |
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BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
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NAME |
JOB TITLE |
% STAKE |
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HERNANDEZ
PARRA, JORGE ENRIQUE |
General Manager |
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ORJUELA,
MARELVIS |
Accountant |
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BECERRA URIBE, GERARDO |
Administrator |
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No negative information found.
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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$ 4,727,166.04 |
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COUNTRIES |
Ecuador, India, Peru, Mexico |
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YEAR |
2012 |
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AMOUNT |
US$ 3,476,454.76 |
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COUNTRIES |
Ecuador, India, Peru, Mexico, Venezuela, Panama, China |
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YEAR |
2011 |
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AMOUNT |
US$ 1,350,835.42 |
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COUNTRIES |
Taiwan, Panama, Peru, Mexco, China |
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EXPORTS |
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YEAR |
2008 |
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AMOUNT |
US$ 657,291.46 |
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COUNTRIES |
Venezuela |
PAYMENTS |
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TRADE REFERENCES |
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TYPE OF SUPPLIER |
NATIONAL |
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CREDIT FACILITIES |
Unspecified |
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SUPPLIER FROM |
Over 10 years ago |
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DEADLINES |
Terms at 45 days |
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PRODUCTS SOLD |
Textiles |
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RATING |
PROMPT |
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COMMENTS.- |
Payments by bank transfer |
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TYPE OF SUPPLIER |
INTERNATIONAL |
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CREDIT FACILITIES |
No current operations limit |
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SUPPLIER FROM |
Over 5 years ago |
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DEADLINES |
Terms at 30 days |
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PRODUCTS SOLD |
Threads and fabrics |
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RATING |
PROMPT |
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COMMENTS.- |
Payments by bank transfer |
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CREDIT FILES |
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Other local consulted suppliers do not provide trade references on clients per company policies. |
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LOCAL SUPPLIERS |
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Name |
Contact |
Telephone |
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FABRICATO SA |
Emma Medina |
(57-4) 448.3500 |
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AGENCIA DE ADUANAS AEREO MARITIMO DE COLOMBIA SAS |
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(57-4) 265.9356 |
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FOREIGN SUPPLIERS |
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Name |
Contact |
Telephone/fax |
Country |
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MANUFACTURAS KALTEX SA DE CV |
Rafael Kalach |
(52-55)
5726.5600 |
MEXICO |
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VICUNHA ECUADOR
SA |
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ECUADOR |
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RELATED COMPANIES |
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NAME |
TAX ID. NUMBER |
COUNTRY |
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CI FRONTITEX SA |
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COLOMBIA |
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GRUPO C&H
SA |
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COLOMBIA |
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VIVIENDAS Y AVALUOS SAS |
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COLOMBIA |
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FINANCIAL
INFORMATION |
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CONTENT.- |
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We interviewed Ms. Marelvis Orjuela (Accountant), who kindly provided commercial information about the subject, except the financial figures on grounds of confidentiality. No financial figures were possible to obtain through outside sources. 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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- Machinery and equipment - Office equipment - Furniture - Tools Etc. |
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INSURANCE.- |
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Subject holds insurance policy with a company which name was not specified. (Neither coverage amount nor maturity date were supplied). |
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RATE OF EXCHANGE |
US$1.00 = Ps$554.55, as of report date |
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OPERATIONS |
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SECTOR |
3.-TRADE ( WHOLESALE AND RETAIL) |
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ACTIVITY |
TEXTILES/ FABRICS |
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ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
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MAIN ACTIVITY |
Import and commercialization of textiles nationwide. |
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% CASH SALES/PAYMENT METHOD |
50% |
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% CREDIT SALES/TERMS |
50% (Terms at 15, 30 days) |
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TERRITORY OF SALES |
100% (Domestic market) |
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% LOCAL PURCHASING |
40% |
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% FOREIGN PURCHASING |
60% |
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N. OF EMPLOYEES |
15 observed |
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LOCATION |
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ADMINISTRATIVE OFFICES: Located at the heading address, in an industrial zone of the city with easy access routes. Premises are kept in good repair. |
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BANKERS / REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCOLOMBIA SA |
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COLOMBIA |
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BANCO POPULAR COLOMBIA SA |
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COLOMBIA |
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BANCO DE CREDITO DE COLOMBIA SA |
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COLOMBIA |
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BANK COMENTS |
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The above banks do not furnish information about clients by preserving confidentiality of bank-client information. |
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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.59.48 |
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|
1 |
Rs.100.93 |
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Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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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.