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Report No. : |
316044 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
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Name : |
CAICEDO CADENA LUIS RAUL |
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Registered Office : |
Calle Pontevedra N24-313 y Vizcaya - Quito Pichincha |
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Country : |
Ecuador |
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Year of Establishment : |
2001 |
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Legal Form : |
Not Available |
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Line of Business : |
Wholesale of Industrial Safety Equipment, Fire Protection, Recue, Even
Parts and Related Material |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limits : |
USD 17.000 |
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Status : |
Moderate |
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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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Ecuador |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
ECUADOR - ECONOMIC
OVERVIEW
Ecuador is substantially dependent on its petroleum resources,
which have accounted for more than half of the country's export earnings and
approximately two-fifths of public sector revenues in recent years. In
1999/2000, Ecuador's economy suffered from a banking crisis, with GDP
contracting by 5.3% and poverty increasing significantly. In March 2000, the
Congress approved a series of structural reforms that also provided for the
adoption of the US dollar as legal tender. Dollarization stabilized the
economy, and positive growth returned in the years that followed, helped by
high oil prices, remittances, and increased non-traditional exports. From
2002-06 the economy grew an average of 4.3% per year, the highest five-year
average in 25 years. After moderate growth in 2007, the economy reached a
growth rate of 6.4% in 2008, buoyed by high global petroleum prices and
increased public sector investment. President Rafael CORREA Delgado, who took
office in January 2007, defaulted in December 2008 on Ecuador's sovereign debt,
which, with a total face value of approximately US$3.2 billion, represented
about 30% of Ecuador's public external debt. In May 2009, Ecuador bought back
91% of its "defaulted" bonds via an international reverse auction.
Economic policies under the CORREA administration - for example, an announcement
in late 2009 of its intention to terminate 13 bilateral investment treaties,
including one with the United States - have generated economic uncertainty and
discouraged private investment. China has become Ecuador's largest foreign
lender since Quito defaulted in 2008, allowing the government to maintain a
high rate of social spending; Ecuador contracted with the Chinese government
for more than $9.9 billion in forward oil sales, project financing, and budget
support loans as of December 2013. Foreign investment levels in Ecuador
continue to be the lowest in the region as a result of an unstable regulatory
environment, weak rule of law, and the crowding-out effect of public
investments. In 2013, oil output marginally reversed a declining trend and production
is expected to increase slightly in 2014, although prices will likely remain
lower than in previous years. Faced with a 2013 trade deficit of $1.1 billion,
Ecuador erected technical barriers to trade in December 2013, causing tensions
with its largest trading partners. Ecuador also decriminalized intellectual
property rights violations in February 2014. Furthermore, the CORREA
administration is considering de-dollarizing the economy to allow the
government to use monetary policy tools to stabilize growth.
|
Source
: CIA |
CAICEDO CADENA LUIS
RAUL
(PROTON PROTECCION TOTAL NORMADA)
Calle Pontevedra N24-313 y Vizcaya
- Quito Pichincha Ecuador
Telephone :
593-02-2207886, 593-02-3226968
E-Mail : raul.proton@hotmail.com
Started
: 2001
Payments :
No Complaints
Sic(s) : 5085
Line of Business: Commercialization of Industrial safety equipment.
Dollars
Conservative value : 17.000
Liberal value
: 20.000
Financial statements could not be obtained, thus financial analysis can not be carried out
Commercial Bulletin : As at 31/03/2015 subject
does not register protested checks in
the national central of risk
Do not trade with domestic suppliers
- Tax Status: Current obligations fulfilled
- Subject is not prevented from leaving the country
- Subject does not have criminal
- Subject is not part of the Clinton List
- Clinton List: A list of companies and persons from all around the world involved in the drugs traffic and money washign, it is issued by the Office of Foreign Assets
Control (OFAC)of the Treasury Department of the United Sates
of America
- Subject does not appear as failed supplier of de State (SERCOP)
- SERCOP: National Service of Public Procurement: public law regulatory agency
that controls the national public procurement system.
- This Subject DOES NOT have obligations at IESS (Ecuadorian Institute of
Social Security) , to April, 2015
- Subject does not have prosecutions in the province registered as its legal
address
- Natural Person forced to have accounting system
Natural Persons are classified in: Persons required to keep accounting and not
obliged to keep accounting. All domestic and foreign natural persons engaged in
economic activities and meet the following conditions: having incomes over US$
100.000 or starting with a higher equity capital to US$ 60.000, or their costs
and expenses have been greater than US$ 80.000, are required to keep accounting
Detail of Bank References
Bank
: Banco
Pichincha C.A.
To
expire
: US$ 4.803,03
Bank
: Diners Club del Ecuador S.A. Sociedad Financiera
Credit
Card
: Credit Card
To
expire
: US$ 2.204,03
Total debt up to February 2015 is US$ 7.007,06
Mr. Luis Raul Caicedo Cadena
does not have negative references at the National Financial System in the last
three years.
Average amount of indebtedness registered by the subject, in the National
Financial System:
During 2015 was US$ 16.996,04
Income tax corresponding to the last years:
Year 2014: US$ 2.519
Year 2013: US$ 1.764
Year 2012: US$ 1.505
The main bank is:
- Banco Pichincha C.A.
Line of Business : Commercialization of industrial safety equipment.
The line of business registered at the Internal Revenue Services(IRS)
is: WHOLESALE OF INDUSTRIAL SAFETY EQUIPMENT, FIRE PROTECTION, RECUE, EVEN
PARTS AND RELATED MATERIAL
Classification according to commercial activity:
Sic: 5085-0000 Industrial supplies
Sales
Sales are steady throughout the year
Regional sales territory
Customers
Main customers are: Companies in general.
Purchases
International purchases only
Imports from Germany, Czech Republic, Poland, France, England.
Employees: Number of employees unknown
Location
- The administration and sales store are located at Calle
Pontevedra N24-313 y
Vizcaya Quito Pichincha, Ecuador
Branches
Subject does not have any branch
RELATED COMPANIES
Subject does not have any related company.
INSURANCES
Insurance details were declined.
ADMINISTRATION
Owner Manager
: Luis Raul Caicedo Cadena
TAX:1705676912001
CURRICULUM
Luis Raul Caicedo Cadena
T A
X
: 1705676912001
Civil status : Married
Birth date : 02/04/1975
-Ecuador
Legal Structure : Natural Person
Domiciliation date : 28/03/2001
Legal Address : Quito - Ecuador
Owner :
- 1705676912001 Luis Raul Caicedo Cadena
Legal representation is held by Owner Manager..
Mr. Luis Raul Caicedo
Cadena, Owner Manager, confirmed
general information.
-Other outside information sources.
Exchange rate
-Since September 9th, 2000, official currency in Ecuador
is the US$ dollar
-Until then, the currency was the sucre.
Exchange rate was s/. 25.000 X US$ 1.00
Credit recommendation amounts are assigned according to criteria usually used
in the commercial credit evaluation.
The amounts are based on the assignment of risk percentages to the following
indicators: Trade references, number of employees, legal structures, data base of protested bills, operations, insurances, variation of
net profit, net worth, working capital and liquidity.
Macroeconomic Information
Interest Rate for the week
of
05/04/2015 - 11/04/2015
Ref. Active Rate for Operations ( % ) 8,21
Ref. Passive Rate for Operations ( % ) 4,98
Basic Rate of Central
Bank ( % ) 0,20
Legal
( %
) 8,21
Maximum conventional
( % )
9,33
Inflation
Ratio
Yearly
Inflation
( %
) 3,76 Mar/2015
Monthly
Inflation
( %
) 0,41 Mar/2015
Accumulated
( %
) 1,63 Mar/2015
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
NIT |
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.