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Report No. : |
303832 |
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Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ARCOLOR S.A.C.I.I.F.A. |
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Registered Office : |
David Magdalena 4146, B1678GNJ – Caseros, Pcia de Buenos Aires |
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Country : |
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Date of Incorporation : |
01.09.1969 |
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Legal Form : |
Sociedad Anonima Comercial Industrial Inmobiliaria Financiera Agrop |
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Line of Business : |
Engaged in manufacturing colouring products Subject product line are as
follows:- · Masterbatches Pigmented Pastas Pigment Powder Liquid Coloring |
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No of Employees : |
85 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Argentina |
b1 |
c1 |
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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 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.
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Source : CIA |
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Legal Name: |
ARCOLOR S.A.C.I.I.F.A. |
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Trade Name: |
Arcolor |
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CUIT: |
30-51919548-4 |
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Date Created: |
1969 |
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Date
Incorporated: |
01/09/1969 |
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Legal
Address: |
David Magdalena 4146 |
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Operative
Address: |
David Magdalena 4146 |
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Telephone: |
( 5411 ) 4008-8100 |
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Fax: |
(5411) 4008-8118 |
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Legal Form: |
SOCIEDAD ANONIMA
COMERCIAL INDUSTRIAL INMOBILIARIA FINANCIERA AGROP |
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Email: |
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Registered
in: |
AGENCIA NRO 15 |
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Website: |
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Manager: |
Alejandro Daniel Dovzak |
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Staff: |
85 |
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Activity: |
Colouring Products
Manufacture Industry |
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BANKS |
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According to Argentinian
Central Bank, the company maintains credit lines with the following banks: |
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BANK |
AMOUNT IN AR$ |
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BANCO DE
GALICIA Y BUENOS AIRES S.A. |
1555,3 |
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BANCO
SANTANDER RIO S.A. |
1,1 |
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According to the
classification of banking relations of Argentina, |
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This is the highest classification
in the system. It means that the company/person is fulfilling correctly its
current Credit |
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There are no rejected
checks for the company. |
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HISTORY |
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Arcolor was founded in
1964. |
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PRINCIPAL
ACTIVITY |
ARCOLOR is
dedicated to the manufacture of colouring products. It is strategically
located in an industrial park. |
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Products/Services
description: |
Masterbatches |
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Brands: |
ARCOLOR |
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Sales are: |
Wholesale |
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Clients: |
ALUSUD PERU
SA |
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Suppliers: |
Tadar S.A. |
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Operations
area: |
National
& International |
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The company
imports from |
Colombia |
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The company
exports to |
Paraguay and
Peru |
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The subject
employs |
85 employees |
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Payments: |
No Complaints
-made on a 35-45 day basis-monitored over the last 6 months |
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LOCATION |
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Headquarters
: |
David Magdalena 4146 |
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Branches: |
Sucursal
Capital Federal |
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Plant of 10
000m2 |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES |
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Listed at the
stock exchange: |
NO |
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Capital: |
AR$ 5 000 000 |
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Shareholders
%: |
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Management: |
President, Alejandro
Daniel Dovzak |
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Related
Companies: |
No subsidiary
companies |
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FINANCIAL INFORMATION |
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This is a
private company which does not make its financial figures public. The following information has been
provided by outside sources. |
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2013 AR$ |
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Revenue |
20 000 000 |
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Cash Flow |
Normal |
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EXPORTS FOB DOLLAR
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2014 |
570.085 |
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2013 |
465.063 |
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2012 |
626.988 |
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2011 |
986.219 |
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2010 |
825.309 |
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LEGAL FILINGS |
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There are no
legal connected to the subject. |
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SUMMARY |
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ARCOLOR is dedicated
to the manufacture of colouring products. It is strategically located in an
industrial park. |
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RISK
INFORMATION |
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DEBTS |
Controlled |
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PAYMENTS |
No complaints
--made on a 35-45 day basis-monitored over the last 6 months |
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CASH FLOW |
Normal |
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STATUS |
Active |
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ENTERVIEW |
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NAME |
Carlos |
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POSITION |
Sales |
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COMMENTS |
He confirmed
address, plant, products and president. He refused to provide more
information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.50 |
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UK Pound |
1 |
Rs.93.12 |
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Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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 |
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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 |
-- |
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.