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Report No. : |
306916 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
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Name : |
TUNISIAN INDIAN
FERTILIZERS SA (TIFERT) |
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Registered Office : |
8 Rue de |
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Country : |
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Date of Incorporation : |
11.06.2006 |
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Com. Reg. No.: |
B01228102013 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Subject operate as dealers in phosphate based fertilizers and Related Facilities |
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No of Employees : |
80 |
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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Tunisia |
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 |
Tunisia ECONOMIC OVERVIEW
Tunisia's diverse,
market-oriented economy has long been cited as a success story in Africa and the
Middle East, but it faces an array of challenges during the country's ongoing
political transition. Following an ill-fated experiment with socialist economic
policies in the 1960s, Tunisia embarked on a successful strategy focused on
bolstering exports, foreign investment, and tourism, all of which have become
central to the country's economy. Key exports now include textiles and apparel,
food products, petroleum products, chemicals, and phosphates, with about 80% of
exports bound for Tunisia's main economic partner, the European Union.
Tunisia's liberal strategy, coupled with investments in education and
infrastructure, fueled decades of 4-5% annual GDP growth and improving living
standards. Former President (1987-2011) Zine el Abidine BEN ALI continued these
policies, but as his reign wore on cronyism and corruption stymied economic
performance and unemployment rose among the country's growing ranks of
university graduates. These grievances contributed to the January 2011
overthrow of BEN ALI, sending Tunisia's economy into a tailspin as tourism and
investment declined sharply. During 2012 and 2013, the Tunisian Government’s
focus on the political transition led to a neglect of the economy that resulted
in several downgrades of Tunisia’s credit rating. As the economy recovers,
Tunisia's government faces challenges reassuring businesses and investors,
bringing budget and current account deficits under control, shoring up the
country's financial system, bringing down high unemployment, and reducing
economic disparities between the more developed coastal region and the
impoverished interior.
|
Source
: CIA |
Registered Name: TUNISIAN INDIAN FERTILIZERS SA (TIFERT)
Requested Name: TUNISIAN
INDIAN FERTILIZERS SA (TIFERT)
Other Names: TIFERT
TUNIS SA
Physical Address: 8 Rue de Niger,
Postal Address: P. o. Box
Tunis 1002
Country: Tunisia
Phone: 216-74667089/91
Fax: 216-74667090
Email: Fakhfakh.hedi@tifert.com.tn
Website: None
Financial Index as of December 2014 shows subject firm with a medium
risk of credit.
Legal Form: Societe Anonyme
Date Incorporated: 11-June-2006
Reg. Number: B01228102013
Nominal Capital TND. 10,000
Subscribed Capital TND. 10,000
Subscribed Capital is Subscribed in the following form:
Position
Mr. Hédi Fakhakh MD
Mr. Hédi Boulila Director
Mr. T. Nourredine Director
Mr. Neifar Khaled Manager
Mr. Khalifa
Yahamed Manager
Mr. Hachem Ghrighri Admin
Gujarat State Fertilizers and Chemicals Ltd. (GSFC) Shareholder 17%
Coromandel
Fertilizers Ltd. (CFL) Shareholder 17%
GCT Shareholder 35%
CPG Shareholder 35%
None Parent company.
None Subsidiary company.
None Affiliated company.
Gujarat State Fertilizers
and Chemicals Ltd. (GSFC),
Coromandel Fertilizers Ltd.
(CFL),
GCT,
CPG. Shareholders of subject firm.
None Branches of the firm
Subject operate as dealers in phosphate based fertilizers and Related Facilities
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Tunisia
Location: Owned
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Tunisian Dinar (TND.)
Approx. Ex. Rate: 1 US Dollar = 1.92 Tunisian Dinar
Fiscal
Year End: December 31, 2014
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2014 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in TND.)
2014
Sales 45,000,000
Bank Name: Amen Bank (AB)
Branch: Tunisia
Comments: None
Experiences: Good
None
This information
was obtained from outside sources other than the subject company itself and
confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
UK Pound |
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
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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 |
|
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 |
|
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.