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Report No. : |
309766 |
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Report Date : |
09.03.2015 |
IDENTIFICATION DETAILS
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Name : |
BINNING OIL TOOLS S.A. |
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Registered Office : |
Viamonte 1465 Piso:10 Dpto:101 1055-Ciudad Autonoma Buenos Aires |
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Country : |
Argentina
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Date of Incorporation : |
10.10.2002 |
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Legal Form : |
Sociedad Anonima |
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Line of Business : |
Metalworking Machinery Manufacturing |
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No. of Employees : |
65 |
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) |
|
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 |
STATUTORY INFORMATION
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|
Legal Name: |
BINNING OIL
TOOLS S.A. |
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Trade Name: |
BINNING OIL
TOOLS S.A. |
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CUIT: |
30-70811929-2 |
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Date Created: |
2002 |
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Date
Incorporated: |
10/10/2002 |
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Legal Address: |
Viamonte 1465 Piso:10 Dpto:101 1055-Ciudad Autonoma Buenos Aires |
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Operative
Address: |
Albert Einstein 575,
Parque Industrial OKS, B1619CQA Garin, Buenos Aires |
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Telephone: |
(54-3327) 446646 |
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Fax: |
(54-3327) 446647 |
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Legal Form: |
Sociedad Anonima |
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Email: |
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Registered in: |
AGENCIA
EXPORTADORES |
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Website: |
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Contact: |
Anthony Talbot
Ridell Binning |
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Staff: |
65 |
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Activity: |
Metalworking
Machinery Manufacturing |
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BANKS |
According to
Argentinian Central Bank, the company maintains credit lines with the
following banks: |
|
BANK |
AMOUNT IN
THOUSANDS AR$ |
|
BANCO DE LA
PROVINCIA DE BUENOS AIRES |
6448,7 |
|
BANCO CREDICOOP
COOPERATIVO LIMITADO |
3437 |
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HSBC BANK
ARGENTINA S.A. |
3186,1 |
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INDUSTRIAL AND
COMMERCIAL BANK OF CHINA |
1722,4 |
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BANCO COMAFI
SOCIEDAD ANONIMA |
1252,8 |
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AMERICAN EXPRESS
ARGENTINA S.A. |
147 |
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According to the
classification of banking relations of Argentina, the company operates with
the following level: 1. |
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This is the
highest classification in the system. It means that the company/person is fulfilling
correctly its current Credit obligations. This is therefore positive
information that will enable the granting of any line of credit. |
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There are no
rejected checks for the company. |
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The company does
not make its banking data public |
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HISTORY |
Tony Binning has
been manufacturing valves and gas lift mandrels with side pockets since 1976
in Camlow SAIC Buenos Aires, Argentina . In 1997 , the company was sold to Camco
Inc. of Houston, Texas ( the company in turn was acquired by Schlumberger ) .
Mr. Binning has returned to business as Binning Oil Tools SA |
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PRINCIPAL
ACTIVITY |
Binning Oil
Tools SA, is a Argentine company located
in the Industrial Park OKS Garin, province of Buenos Aires , which
manufactures a complete line of equipment Automatic Gas Lift and Flow
Regulators . |
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Products/Services
description: |
Pocket mandrels |
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Brands: |
The company has
no brands. |
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Sales are: |
Retail and
wholesale |
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Clients: |
E Tech Peru Sac
, Completion Services Sucursal Colombia, Petro Tech Peruana Sa |
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Suppliers: |
n/a |
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Operations area:
|
National and International |
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The company
imports from |
USA |
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The company
exports to |
Peru, Colombia |
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The subject
employs |
65 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
Albert Einstein 575,
Parque Industrial OKS, B1619CQA Garin, Buenos Aires |
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Branches: |
The company does
not have branches |
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Industry: |
Companies in
this industry manufacture metalworking machinery, including molds, dies,
cutting tools, and machining centers. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the
stock exchange: |
NO |
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Capital: |
$ARS 5.900.000 |
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Shareholders %: |
This is a
private company, the major holder is: Anthony Talbot Ridell Binning |
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Management: |
Tony Binning,
President |
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Related
Companies: |
Foregin
Representatives |
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FINANCIAL INFORMATION
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This is a private
company which does not make its financial statements public. The following data has been provided by
outside sources. |
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2013 USD |
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Revenue |
6 606 000 |
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Net Income |
773 000 |
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|
1 146 400 |
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Cash Flow |
Good |
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LEGAL FILINGS |
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There are no
legal connected to the subject |
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SUMMARY |
Binning Oil
Tools SA, is a Argentine company
located in the Industrial Park OKS Garin, province of Buenos Aires , which manufactures
a complete line of equipment Automatic Gas Lift and Flow Regulators. It was
founded in 2002.
There are no
negative. It has no credit lines opened, no national debts. |
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RISK INFORMATION
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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 |
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ENTERVIEW |
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NAME |
María Paula |
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POSITION |
Administrative |
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COMMENTS |
She confirmed
activity, managers and address. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
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.