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Report No. : |
330368 |
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Report Date : |
07.07.2015 |
IDENTIFICATION DETAILS
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Name : |
PRINCESS-GRUPPEN AS |
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Formerly Known As : |
KAI LANGEBECK AS |
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Registered Office : |
Kjeppestadveien 40, 1400 Ski, P.O. Box 90 1401 Ski |
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Country : |
Norway |
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Financials (as on) : |
2013 |
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Date of Incorporation : |
1957 |
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Com. Reg. No.: |
912 567 508 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· Retail Sale of Textiles in Specialized Stores · Wholesale of Textiles |
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No. of Employees : |
1,145 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Norway |
A1 |
A1 |
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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 |
NORWAY - ECONOMIC OVERVIEW
The Norwegian economy is a prosperous mixed economy, with a
vibrant private sector, a large state sector, and an extensive social safety
net. The government controls key areas, such as the vital petroleum sector,
through extensive regulation and large-scale state-majority-owned enterprises.
The country is richly endowed with natural resources - petroleum, hydropower,
fish, forests, and minerals - and is highly dependent on the petroleum sector,
which accounts for the largest portion of export revenue and about 30% of
government revenue. Norway is the world's third-largest natural gas exporter;
and seventh largest oil exporter, making one of its largest offshore oil finds
in 2011. Norway opted to stay out of the EU during a referendum in November
1994; nonetheless, as a member of the European Economic Area, it contributes
sizably to the EU budget. In anticipation of eventual declines in oil and gas
production, Norway saves state revenue from the petroleum sector in the world's
largest sovereign wealth fund, valued at over $870 billion in December 2014 and
annually uses up to 4% of the fund, it’s projected long term return, to help
finance public expenses. After solid GDP growth in 2004-07, the economy slowed
in 2008, and contracted in 2009, before returning to positive growth in
2010-14. Nevertheless, the government budget remains in surplus. Lower oil
prices in 2015 may cause the economy to contract as higher costs production
costs in the North Sea deter investment.
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Source
: CIA |
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COMPANY REPORTED |
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COMPANY
DETAILS
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Established: |
1957 |
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Registration: |
No. 912 567 508 |
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Legal Form: |
Limited
Liability Company |
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History: |
In March 2000
subject merged with several Subsidiaries. |
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Management: |
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CREDIT INFORMATION SUMMARY |
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Insolvency Information: |
According to available information sources the
company is not in a insolvency/preliminary/debt regulation proceeding. |
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Capital: |
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Shareholders: |
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Payment Practices: |
Payments are made mostly according to terms |
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Related Companies: |
Subsidiaries: |
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Financials:
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Financial data
source: |
2013: Financials
in accordance with official publications |
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Financial
Comments: |
Company’s
balance-sheet 2014 hasn’t been published and is not officially available. |
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Approximate Exchange
Rates: |
2014: 8,3483 NOK
= 1 EUR |
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Currency
Conversion Information: |
Financial values
have been converted to EUR. |
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KEY DATA ON OPERATIONS |
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Subject of Operation: |
NACE |
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Workforce: |
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Real Estate: |
Total space |
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Bankers: |
Sparebanken Nor |
NA
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.57 |
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1 |
Rs.99.11 |
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Euro |
1 |
Rs.70.29 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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.