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Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
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Name : |
FALABELLA S.A. |
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Registered Office : |
Florida 343, floor 4(1005), Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
25.08.1992 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Subject is a departments store in the national market, having opened an important shopping center in Mendoza Province. |
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No. of Employees |
4500 Employees |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Argentina |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 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 the government also
further tightened currency controls in an effort to bolster foreign reserves
and stem capital flight.
|
Source : CIA |
FALABELLA S.A.
30-65572582-9
REFERRED TO AS INITIATING HOLDER OF ACTIVITIES TO DEVELOP. OPERA FROM SUCH AS OCCURRED IN SHAPING YOUR LEGAL 1992.ES TO MAKE NOTE THAT NO FINANCIAL DATA ARE
PROVIDED WITHOUT KNOWING THE ORIGIN OF THE ORDER. IMPORTANT IN YOUR AREA MANAGEMENT HAS EXTERNAL SUPPORT. REMAINS FIRM REPUTATION SUITABLE FOR NEW CREDITS.
DEPARTMENT STORES
HOUSEHOLD GOODS
RETAIL SALE
Business type: Public
Limited Company
Incorporated: 25/08/1992
Registered: 02/09/1992
Register #: 8217
Duration: 99
years
End of fiscal year: 31/12
Legal address: Florida
343, floor 4(1005), Buenos Aires City, Argentina Republic.
Phone.: (54-11)
5950-5000/4000-9800
Administrative address: Colectora
Panamericana 311, Martinez (1640), Buenos Aires Province,
Argentine
Republic.
Phone: (54-11)
4717-8500
Sales shops:
----------------------
Shopping Unicenter, Martínez, Buenos Aires Province.
Florida 343, Buenos Aires City.
On the corner of Florida and Tte.Gral.Perón, Buenos Aires City.
Córdoba 1101, Rosario, Santa Fé Province.
Duarte Quiroz 1400, Córdoba, Córdoba Province.
Peatonal Tucumán 163, San Juan, San Juan Province.
Acc.E.Lateral Norte 3280,Guaymallen, Mendoza Province.
· President: MINGO SALAZAR JUAN LUIS
Vice-president:
BENAVIDES FELIU
JUAN MAXIMILIANO
Director:
MONTERO
SHEPELER JUAN PABLO
Director:
ARTANA
DANIEL ALBERTO
Director:
BENITES
MANUEL MARIA
Substitute
Director: LEWIN GOMEZ
CRISTIAN
Substitute
Director: ARNTSEN ALAN
Trustee:
RUEDA
PABLO
Substitute
Trustee: NOSEDA PABLO
GABRIEL
Use of social signature: In the charge of the President and
Vice-president.
Subscribed and Realized Capital: $ 303,633,680
Shareholders:
INVESTING FALABELLA ARGENTINA SA $
98,666,310
INVERFAL S.A. $
204,967,370
Its representatives, due to the company's policy, denied to satisfy our
request.
However, according to our database, we can say that this was the first
departments store in the national market, having opened an important shopping
center in Mendoza Province.
Later on, it could open other shopping centers, so, at present, it has
seven ones in many very populated cities.
Falabella is present in Chile (its original country), Argentina, Peru
and Bolivia, which are managed in independent way.
No facilitate Balances.
Anyway we have a reputable firm that has an interesting investment in
all its activities.
REAL ESTATE:
--------------------
The company's fixed assets include the properties located in the previously exposed addresses, from which no details were obtained. Highlights that because of its location and dimensions, they have a high realization value.
VEHICLES:
------------------
It has a fleet of vehicles used for its operations(no details were
mentioned).
Parent/Related Companies
> INVERSIONES FALABELLA ARGENTINA S.A.
> S.A.C.I. FALABELLA (CHILE)
> C.M.R. FALABELLA S.A.
> GARCIA HNOS Y CIA.LA FAVORITA S.A.
> MENDOZA PLAZA SHOPPING S.A.
> SOSERCOM LTDA. (CHILE)
> S.A.G. FALABELLA (PERU)
> ADMINISTRADORA CMR (CHILE)
> SHEARVAN CORPORATE S.A. (CHILE)
> VIAJES FALABELLA S.A.
> CLAMIJU S.A.
> CENTRO LOGISTICO APLICADO S.A.
> SERVICIOS DE PERSONAL LOGISTICO S.A.
> SODIMAC S.A. (CHILE)
> VIAJES FALABELLA LTDA. (CHILE)
As has been mentioned early, the company under review is dedicated to
the sale of various products through a system of "department store."
For the intended purpose, has spacious showrooms and sales points
located in strategic cities in the country, being in practice the most
important company in the sector in which it operates.
For your attention has a significant number of employees, including
salespeople, administrative, technical, etc..
Specific imports from Chile, China, Brazil and Malaysia among other
countries, not being known his foray into the
export market.
* 4500 EMPLOYEE.
USUAL PROVIDERS:
--------------------------------
* Suavestar SA
* PHILIPS ARGENTINA SA
* LG SA
* LONGVIE SA
* PIERO SA
FOREIGN TRADE:
-------------------------
In the last twelve months in office, has materialized imports for $ s.
86,705,709 according to the following breakdown:
CHINA, INDIA, GERMANY, OTHERS, ETC
* UNICENTER: Paraná 3745, Martínez, Pcia.de Bs.Aires.
Tel.: (54-11) 4717-8100
* FLORIDA: Florida 202 y 343, Cdad.de Buenos Aires.
Tel.: (54-11) 5950-5000/5950-5060
* ROSARIO: Córdoba 1101, Rosario, Pcia.de Santa Fé.
Tel.: (0341) 420-3500
* CORDOBA: Duarte Quiroz 1400, Córdoba, Dpto.Capital.
Tel.: (0351) 488-8800
* MENDOZA: Acc.E.Lateral Norte 3280, Guaymallen, Pcia
de Mendoza.
Tel.: (0264) 427-5351
* SAN JUAN: Peatonal Tucumán 163 Sur, San Juan
Tel.: (0264) 427-5351
· BANCO DE GALICIA Y BUENOS AIRES
STANDARD
BANK
CITIBANK
N.A.
BBVA
BANCO FRANCES
BANCO
SUPERVIELLE
BANCO
CIUDAD DE BUENOS AIRES
BANCO
PATAGONIA
BANCO
SANTANDER RIO
BANCO
COMAFI
BANCO
FINANSUR
BANCO
INDUSTRIAL DE AZUL
BANCO
DE LA PAMPA
BANCO
MACRO
BANCO
DE LA NACION ARGENTINA
HSBC
BANK ARGENTINA
01/2014
BANCO DE LA CIUDAD DE BUENOS
AIRES............................100.615.100
HSBC..........................................................
60.439.900
BANCO HIPOTECARIO.............................................
50.347.400
DEUTSCHE BANK.................................................
50.075.400
BANCO PROVINCIA DE BUENOS AIRES...............................
18.805.800
BANCO DE LA PAMPA.............................................
15.067.900
BANCO INDUSTRIAL..............................................
2.075.000
BANCO FRANCES.................................................
1.261.800
BANCO GALICIA.................................................
898.300
FINANSUR......................................................
388.600
HSBC..........................................................
189,500
AMERICAN EXPRESS..............................................
32.400
BANCO SUPERVIELLE ............................................
13.500
CITIBANK......................................................
1.200
SITUATION 1: NORMAL FULFILLMENT
INSURANCE:
-------------------
LA BUENOS AIRES S.A.
For the type of activities performed, the related holder commercially sees a high number of supplier firms and foreign place, much of which will support and provide your credit which has been prone to using expansion their commitments, so far without objections payment options it supports.
* GOOD PERFORMANCE
Based on the figures to drop the last annual balance known, it is
understood that to interest the credit link with the owner, it shall be
endorsed as deemed advisable.
* CREDITS ON CAN CONTINUE OPERATING. - CMA.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
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UK Pound |
1 |
Rs.102.22 |
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Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.