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Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
IMMOBAL
NUTRES SA |
|
|
|
|
Registered Office : |
Agencia Nro 8 H. Yrigoyen N° 2251 Pb Y 2° Piso 1089 Ciudad Autonoma Buenos Aires |
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Country : |
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Date of Incorporation : |
1977 |
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|
|
|
Legal Form : |
Sociedad Anónima |
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|
|
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Line of Business : |
Inorganic Chemical Materials Manufacturing |
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|
|
|
No. of Employees : |
192 |
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 |
|
Status : |
Satisfactory |
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|
|
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Argentina |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 $12 billion during the year. GDP grew 3% and inflation
remained steady at 25%, according to private estimates. In October 2013, the
government settled long-standing international arbitral disputes (including
with three US firms) dating back to before and following the 2002 Argentine
financial crisis. In early 2014, the government embraced a series of more
orthodox economic policies. It devalued the peso 20%, substantially tightened
monetary and fiscal policies, and took measures to mend ties with the
international financial community, including: engaging with the IMF to improve
its economic data reporting, reaching a compensation agreement with Repsol for
the expropriation of YPF, and presenting a proposal to pay its arrears to the
Paris Club.
|
Source
: CIA |
|
Government |
Republic
|
|
Currency |
100.00
USD = 841.700 ARS |
|
Economic
Risk |
Medium |
|
Order:
|
IMMOBAL NUTRES SA |
|
Address
in the order: |
Rivadavia
1369 1033 buenos aires Cuit 3058052833 Argentina. |
|
Legal
Name: |
INMOBAL
NUTRER S.A. |
|
Trade
Name: |
Quimtia |
|
CUIT: |
30-58052893-3 |
|
Date
Created: |
1977 |
|
Date
Incorporated: |
February
3, 1977 |
|
Legal
Address: |
BELGRANO
AV. 955 Piso:28 1092-CIUDAD AUTONOMA BUENOS AIRES |
|
Operative
Address: |
Rivadavia
1369 1033 buenos aires Cuit 3058052833 Argentina. |
|
Telephone:
|
54
11 4370-0111 |
|
Fax: |
54
11 4201-8822 |
|
Legal
Form: |
Sociedad
Anónima |
|
Email: |
|
|
Registered
in: |
AGENCIA
NRO 8 H. YRIGOYEN N° 2251 PB Y 2° PISO 1089 CIUDAD AUTONOMA BUENOS AIRES |
|
Website:
|
|
|
Manager: |
Joanas
Sincosky |
|
Staff:
|
192 |
|
Activity: |
Inorganic Chemical Materials Manufacturing |
|
SIC
Codes: |
2812 |
|
NAICS
Codes: |
325110 |
|
|
According to Argentinian Central Bank, the
company maintains credit lines with the following banks: |
|
|
BANK |
AMOUNT
IN AR$ |
|
|
BBVA
BANCO FRANCES S.A. |
55241,5 |
|
|
HSBC BANK ARGENTINA S.A. |
16840,7 |
|
|
BANCO
PATAGONIA S.A. |
16617,6 |
|
|
BANCO
DE GALICIA Y BUENOS AIRES S.A. |
8195,2 |
|
|
AMERICAN
EXPRESS ARGENTINA S.A. |
135,3 |
|
|
YPF
S.A. |
44,1 |
|
|
BANCO
SANTANDER RIO S.A. |
5,7 |
|
|
|
|
|
|
|
According to the classification of banking
relations of |
|
|
|
This is the highest classification in the
system. It means that the |
|
|
|
There are no rejected checks for the
company. |
|
|
The company
started business in 1977. |
|
|
The company
operates though QUIMTIA. |
|
Products/Services:
|
Company dedicated to the manufacture and
sale of chemical additives for all industries. It is segmented into Business
Units |
|
Trademarks: |
FINOX |
|
Sales:
|
Wholesale |
|
Clients: |
The company provides
its products to various industries, amomg its clients: |
|
Competitors:
|
Central Química Argentina SA |
|
Suppliers |
POLAQUIMIA SA DE CV |
|
Operations
Area: |
National
& International |
|
The
company imports from: |
China,
Spain |
|
The
company exports to |
Mexico,
USA, Latin America, Europe |
|
The
company employs |
192
employees |
|
Payments:
|
Regular-made on a 30-45 day basis.
Monitored over the last 6 months. |
|
Headquarters : |
Rivadavia
1369 1033 buenos aires Cuit 3058052833 Argentina. |
|
Branches:
|
Centro de Distribución / Planta Industrial |
|
Business
Industry: |
Companies in this industry manufacture
basic, intermediate, and specialty chemicals. |
|
Listed at the stock exchange: |
NO |
|
Capital:
|
AR$
14.400.000 |
|
Shareholders
%: |
This is a
private company. |
|
Management: |
Joanas Sincosky, Manager |
|
Related
Companies: |
Quimtia Brasil |
|
|
This is a private company that does not
make its financial statements publish. The following information has been provided
by our outside sources. |
|
|
|
|
Currency |
AR$ |
|
Year
|
2013 |
|
Current
assets: |
73,349,148,
00 |
|
Non
Current Assets: |
7,193,889.00
|
|
Total
assets: |
80,543,037,
00 |
|
Total
Net Assets: |
29,559,761.00 |
|
|
|
|
EXPORTS-ANUAL
FOB |
FOB |
|
2009 |
586.825 |
|
2010 |
856.702 |
|
2011 |
880.361 |
|
2012 |
1.660.575 |
|
2013 |
1.166.681 |
|
2014-up
tp now |
30.750 |
There are no legal/criminal connected to the company.
|
About
Riskma Review: |
|
|
RR1:
Fully Approved |
The company is well established and in good
situation. |
|
RR2:
Approved |
Credit
dealings approved. |
|
RR3:
Marginal + |
Business dealings approved +suggested
monitoring. |
|
RR4:
Marginal - |
Low credit suggested + highly suggested
monitoring |
|
RR5:
Unsatisfactory |
No credit line suggested + monitoring the
company |
|
Neg:
Negative |
The company does not exist |
|
|
Inmobal Nutrer
S.A. operates though QUIMTIA. |
|
|
Since July 30th, |
|
DEBTS |
Controlled-Total bank debt of AR$ 97080,1 |
|
PAYMENTS |
Regular-Good
payment behaviour |
|
CASH
FLOW |
Normal |
|
|
|
|
ENTERVIEW |
|
|
NAME |
Carolina
Bolgiani |
|
POSITION |
Sales |
|
COMMENTS |
The person contacted confirmed address,
activity, staff. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
-- |
|
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.