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Report No. : |
305165 |
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Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
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Name : |
BLUE ENERGY SA DE CV |
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Registered Office : |
Edificio Park Plaza, Nivel 3, Local B - 6 Calle 11 Ave - Barrio Guamilito, San Pedro Sula |
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Country : |
Honduras |
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Date of Incorporation : |
27.10.2010 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
The subject is engaged in the development of hydraulic projects,
exploration, identification, design, construction and operation. Main
services: - Projects and commercial and industrial electricity works - High
voltage lines - Installation of electric substations - Consultancy services
for electricity systems optimization - Equipment control and automation -
Supply, installation and programming of PLC's - Manufacture of control and
distribution boards |
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No. of Employees : |
15 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Honduras |
B2 |
B2 |
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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 |
HONDURAS - ECONOMIC
OVERVIEW
Honduras, the second poorest
country in Central America, suffers from extraordinarily unequal distribution of
income, as well as high underemployment. While historically dependent on the
export of bananas and coffee, Honduras has diversified its export base to
include apparel and automobile wire harnessing. Nearly half of Honduras's
economic activity is directly tied to the US, with exports to the US accounting
for 30% of GDP and remittances for another 20%. The US-Central
America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in
2006 and has helped foster foreign direct investment, but physical and
political insecurity, as well as crime and perceptions of corruption, may deter
potential investors; about 70% of FDI is from US firms. The economy registered
modest economic growth of 3.0%-4.0% from 2010 to 2012, insufficient to improve
living standards for the nearly 65% of the population in poverty. An 18-month
IMF Standby Arrangement expired in March 2012 and was not renewed, due to the
country's growing budget deficit and weak current account performance. Public
sector workers complained of not receiving their salaries in November and
December 2012, and government suppliers are owed at least several hundred
million dollars in unpaid contracts. The government announced in January 2013
that loss-making public enterprises will be forced to submit financial rescue
plans before receiving their budget allotments for 2013.
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Source
: CIA |
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IDENTIFICATION |
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COMPANY NAME |
BLUE ENERGY SA DE CV |
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TRADE NAME |
BLUE ENERGY |
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TAX ID TYPE |
RTN |
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TAX ID NUMBER |
05019010336073 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Edificio Park Plaza, Nivel 3, Local B - 6 Calle 11 Ave - Barrio
Guamilito |
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CITY/PROVINCE/STATE |
San Pedro Sula |
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PHONE NUMBER(S) |
(504) 2557.4777 / 2540.1956 |
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FAX NUMBER |
(504) 2557.5077 |
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E-MAIL |
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E-MAIL |
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PAYMENT HISTORY |
PAYMENTS USUALLY PROMPT |
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COMMENTS OF IDENTIFICATION.- |
No website happens to be found. The report was ordered as: BLUE ENERGY
SA. Please be advised that the complete form of company name is as shown in
caption. Also, this report was requested with address: Edificio Park Plaza,
Nivel 3, No.25 6 Calle II Ave. Bo. Guamilto San Pedro Sula. Please be noticed
that the correct and complete form of this address is as mentioned above. |
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LEGAL ASPECTS |
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LEGAL STATUS |
Stock Company of Variable Capital |
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INCORPORATION DATE |
27/10/2010 |
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REGISTERED IN |
San Pedro Sula |
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DURATION |
Undefined |
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REGISTRATION |
Entry No.7728, Record 27, Volume 652 |
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BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
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NAME |
JOB TITLE |
% STAKE |
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REYES, JOSE |
Legal Representative |
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MONTERO, LUIS |
Purchasing Chief |
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PAREDES, LOURDES |
Assistant |
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No negative information given.
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INITIAL CAPITAL |
Lps.5,000.00 Lempiras |
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PAID-UP CAPITAL |
Lps.25,000.00 Lempiras |
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LAST CAPITAL INCREASE |
17/05/2013 (latest known) |
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NET WORTH |
Lps.25,000.00 Lempiras (as of 31/12/2013) |
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LISTED AT STOCK EXCHANGE |
NO |
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PAYMENTS |
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TRADE REFERENCES |
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TYPE OF SUPPLIER |
NATIONAL |
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CREDIT FACILITIES |
Confidential |
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SUPPLIER FROM |
Unspecified |
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DEADLINES |
Invoices at 345 days |
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PRODUCTS SOLD |
Pipes |
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RATING |
PROMPT |
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COMMENTS.- |
Good client Last purchase: December 2014 |
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CREDIT FILES |
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Other local consulted suppliers do not provide trade references on
clients per company policies. |
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NA
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FINANCIAL
INFORMATION |
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CONTENT.- |
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We interviewed Mr. Luis Montero (Purchasing Chief), who provided
commercial information about the subject, except the financial figures on
grounds of confidentiality and stated that the enquirer name should be
disclosed first. As a point of interest, we enclose the total figures of the
subject's Balance Sheet as of 31/12/2013 (12 months), expressed in Lempiras,
which figures read as follows: |
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GENERAL BALANCE
SHEET |
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Balance Date |
31/12/2013 |
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Currency |
Lempiras |
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Exchange Rate |
20.31 |
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.Total Assets |
1,217,834.66 |
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Total Liabilities |
1,192,834.66 |
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Total Equity |
25,000.00 |
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Total Liabilities and Equity |
1,217,834.66 |
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FINANCIAL
COMMENTS.- |
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Loss and Profit figures were not supplied since the project is being
developed. Its fiscal year closure date is December 31st. of every year. The
subject is a services company established 4 years ago, which does not
register detrimental against the operations. COUNTRY CONTEXT - HONDURAS: The
below information has been obtained from a highly regarded public source that
issues comments on all of worlds' countries. Taxes: - Honduran income tax:
25% on the net profit-business. - Alphabetic currency code for every country
by the International Organization for Standardization (ISO) 4217: Lempira
(HNL) Main economic indicators: - External debt: US $6.173 billion (31
December 2013 est.) - International Reserves: US $2.414 billion (31 December
2013 est.) - Inflation rate: 5.2% (2013 est.) - GDP real growth rate: 2.8%
(2013 est.) - Annual GDP per capita: US $4,800 (2013 est.) GDP - composition,
by sector of origin: agriculture: 14% industry: 28.2% services: 57.8% (2013
est.) Labor force of 3.507 million people (2013 est.) divided by:
agriculture: 39.2% industry: 20.9% services: 39.8% Unemployment rate: 4.5%
(2013 est.) Productive sectors: Agriculture - products: bananas, coffee,
citrus, corn, African palm; beef; timber; shrimp, tilapia, lobster
Industries: sugar, coffee, woven and knit apparel, wood products, cigars
Foreign trade: Exports: US$7.881 billion (2013 est.) country comparison to
the world: 102 US$7.931 billion (2012 est.) Exports - commodities: apparel,
coffee, shrimp, automobile wire harnesses, cigars, bananas, gold, palm oil,
fruit, lobster, lumber Exports - partners: US 34.5%, Germany 11.6%, Belgium
6.8%, El Salvador 6.6%, Guatemala 4.9%, Nicaragua 4.6% Imports: US$11.34
billion (2013 est.) country comparison to the world: 95 US$11.18 billion
(2012 est.) Imports - commodities: machinery and transport equipment,
industrial raw materials, chemical products, fuels, foodstuffs Imports -
partners: US 44.3%, Guatemala 8.5%, El Salvador 5.7%, Mexico 5.6%, China
4.7%, Costa Rica 4.1% Country risks: Commercial Country Risk: HIGH Political
Country Risk: MEDIUM |
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INSURANCE.- |
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The subject does not hold insurance policy, currently. |
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RATE OF EXCHANGE |
US$1.00 = Lps.21.00, as of report date |
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OPERATIONS |
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SECTOR |
5.-SERVICES |
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ACTIVITY |
PROFESSIONAL SERVICES |
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ISIC CATEGORY |
K-SERVICES PROVIDED TO COMPANIES, REAL ESTATE, COMPUTING SERVICE,
RENTAL OF EQUIPMENT AND MACHINERY |
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MAIN ACTIVITY |
The subject is engaged in the development of hydraulic projects,
exploration, identification, design, construction and operation. Main
services: - Projects and commercial and industrial electricity works - High
voltage lines - Installation of electric substations - Consultancy services
for electricity systems optimization - Equipment control and automation -
Supply, installation and programming of PLC's - Manufacture of control and
distribution boards |
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TERRITORY OF SALES |
100% (National market) |
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N. OF EMPLOYEES |
15 approximately |
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LOCATION |
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ADMINISTRATIVE OFFICES: Located at captioned address, in a commercial
zone of the city of easy access. Rented premises kept in good repair. No
branches were reported. |
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COMMENTS OF
OPERATIONS.- |
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CORPORATE PURPOSE: Distribution and commercialization of power energy,
as well as development of activities, works, services and related products.
Besides, provision of services as an accredited inspection entity to the
inspection and calibration of gauges and other measurement equipment for
internal, new and existing installations to the provision of power energy in
buildings, commercial and industrial zones. It must be mentioned that the
subject is in a pre-operative stage since its plant is under construction.The
investment does not report income yet and the project is financed by an
American firm, whose name was not revealed. The subject has a contract issued
by the National Energy Commission for the generation of power and electric
power; it also owns the hydroelectric project named XOMPRERO ULUA located at
Comunidad de Quebrada Honda en los Municipios de Jesus de Otoro, San Jose de
Comayagua y San Pedro de Zacapa, Intibuca, Comayagua and Santa Barbara. Its
annual sales amount to Lps.2,000,000.00 Lempiras, approximately. Other
workers are hired by contract or eventual contracts, according to works. We
learned that the subject imports. |
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LOCAL SUPPLIERS |
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Name |
Contact |
Telephone |
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DURMAN ESQUIVEL SA |
Oscar Molina |
(504) 2559.1535 |
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MEXICHEN HONDURAS SA DE CV |
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ACEROS ALFA SA |
Kelly Gomez |
(504) 2565.2891 |
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BANKERS /
REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO FINANCIERA COMERCIAL HONDURENA (FICOHSA) |
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HONDURAS |
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BANCO DEL PAIS SA |
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HONDURAS |
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BANK COMENTS |
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The above banks do not furnish information about clients by preserving
confidentiality of bank-client information. |
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CREDIT OPINION |
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COMMENTS: For a higher amount, pertinent guarantees are advised, due
to the lack of financial figures that allow us to determine the subject's
current indebtedness level, sales tendency and solvency. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.76 |
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1 |
Rs.93.13 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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.