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Report No. : |
309467 |
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Report Date : |
05.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOPS FRAY MARCOS
S.A. |
|
|
|
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Registered Office : |
Deauville 1727 CP11.500
Montevideo |
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|
|
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Country : |
Uruguay |
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|
|
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Year of Establishments : |
1986 |
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|
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Legal Form : |
Sociedad Anonima |
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|
|
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Line of Business : |
Engaged as Exporter of
Combed Wool Tops Subject product ranges includes :- · Combed wool · Washed wool · Noils · Blobussette · lanolin |
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|
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No of Employees : |
121 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Uruguay |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Uruguay ECONOMIC OVERVIEW
Uruguay has a free market
economy characterized by an export-oriented agricultural sector, a
well-educated work force, and high levels of social spending. Following financial
difficulties in the late 1990s and early 2000s, economic growth for Uruguay
averaged 8% annually during the period 2004-08. The 2008-09 global financial
crisis put a brake on Uruguay's vigorous growth, which decelerated to 2.6% in
2009. Nevertheless, the country managed to avoid a recession and keep positive
growth rates, mainly through higher public expenditure and investment, and GDP
growth reached 8.9% in 2010 but slowed in 2012-13, the result of a renewed
slowdown in the global economy and in Uruguay's main trade partners and Common
Market of the South (Mercosur) counterparts, Argentina and Brazil. Uruguay has
sought to expand trade within Mercosur and with non-Mercosur members. Uruguay's
total merchandise trade with Mercosur since 2006 has increased by nearly 70% to
more than $5 billion while its total trade with the world has almost doubled to
roughly $23 billion in 2013.
|
Source
: CIA |
|
Order: |
Tops Fray Marcos S A |
|
Address in the order: |
Deauville 1727 CP11.500
Montevideo, Uruguay |
|
Legal Name: |
TOPS
FRAY MARCOS S.A. |
|
Trade Name: |
Tops Fray Marcos SA |
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RUC: |
211443720019 |
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Date Created: |
1986 |
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Date Incorporated: |
1986 |
|
Legal Address: |
Deauville 1727 CP11.500 Montevideo,
Uruguay |
|
Operative Address: |
Deauville 1727 CP11.500
Montevideo, Uruguay |
|
Telephone: |
(598 2) 216 35 00 |
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Fax: |
(598 2) 211 61 67 |
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Legal Form: |
Sociedad Anonima |
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Email: |
|
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Registered in: |
Uruguay |
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Website: |
www.tops.com.uy (Under Construction) |
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Contact: |
Facundo Ruvira |
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Staff: |
121 |
|
Activity: |
Export of combed wool
tops |
|
BANKS |
Banco República |
|
|
The company does not make
its banking data public |
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HISTORY |
The company was founded in 1986. |
|
|
The company was
previously located at 3364 - CP 12000
Montevideo – Uruguay. |
|
PRINCIPAL ACTIVITY |
Tops Fray
Marcos SA is a textile company focused on the export of combed wool tops
quality. The Fray Marcos Tops products
reach the main manufacturing countries of products derived from wool. |
|
Products/Services
description: |
Combed wool |
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Brands: |
The company has no brands |
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Sales are: |
Wholesale |
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Clients: |
Reliance Industries Ltd,
Brand Felts Of Canada |
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Suppliers: |
GRUPO MGA S.A. DE C.V. |
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Operations area: |
National and international |
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The company imports from |
Peru, Mexico |
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The company exports to |
Argetina |
|
|
Tops Fray Marcos is
responsible of Uruguay's 18,9% exports
of the material. |
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The subject employs |
121 employees |
|
Payments: |
No Complaints |
|
LOCATION |
|
|
Headquarters : |
Deauville 1727 CP11.500
Montevideo, Uruguay |
|
Comments: |
Its industrial plant is located
in the city of Montevideo and since its inception has had an in- discontinued
operation today reaching an average annual production of 3.2 million kilos of
combed wool marketed as tops or bumps . |
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Branches: |
The company has no
branches |
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Industry: |
combed wool |
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GROUP STRUCTURE AND
SUBSIDIARY COMPANIES |
|
|
Listed at the stock
exchange: |
NO |
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Capital: |
N/A |
|
Shareholders %: |
This is a private
company, after a long search we could not confirm the mayor holders |
|
Management: |
Nicolas Perez del
Castillo, Finance Manager Peter Crone, Manager
Director Facundo Ruvira, Director |
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Related Companies: |
Tops Fray Marcos: works
since 1986 in Fray Marcos and belongs to the same family branch that Engraw
SA; in 2008 moved to Liberty, San Jose. |
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FINANCIAL INFORMATION |
|
|
|
This is a private company
which does not make its financial statements public. The following data has been provided by
outside sources. |
|
2013 USD |
|
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Revenue |
50 000 000 |
|
Cash Flow |
Normal |
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LEGAL FILINGS |
|
|
|
There are no legal
connected to the subject |
|
SUMMARY |
This is a
textile company dedicated to export combed wool tops. It has almost 30 years
in the market. There are no negative. It has no credit lines opened, no
national debts. It combines the experience and tradition of a family business
with over 50 years in the wool business, with the dynamics and flexibility of
a modern enterprise. |
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RISK INFORMATION |
|
|
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|
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DEBTS |
Controlled |
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PAYMENTS |
No complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
|
|
|
|
ENTERVIEW |
|
|
NAME |
Diego |
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POSITION |
Human Resources |
|
COMMENTS |
He confirmed address,
activity and managers. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.94.96 |
|
Euro |
1 |
Rs.69.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
|
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.