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Report No. : |
348687 |
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Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
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Name : |
FABRICA DE CAMISAS MANCHESTER S.A. DE C.V. |
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Registered Office : |
Av Ignacio Morones Prieto No 2110 Pte,
Colonia Loma Larga Monterrey, Nuevo León 64710 |
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Country : |
México |
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Date of Incorporation : |
1939 |
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Legal Form : |
Sociedad Anónima De Capital Variable |
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Line of Business : |
Manufacturing of mens and boys furnishings. |
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No. of Employee : |
420 |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
México |
A2 |
A2 |
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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 |
MÉXICO ECONOMIC OVERVIEW
Mexico's $1.3 trillion economy has become increasingly oriented toward manufacturing in the 21 years since the North American Free Trade Agreement (NAFTA) entered into force. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Mexico has become the United States' second-largest export market and third-largest source of imports. In 2014, two-way trade in goods and services exceeded $550 billion. Mexico has free trade agreements with 46 countries, putting more than 90% of trade under free trade agreements. In 2012, Mexico formally joined the Trans-Pacific Partnership negotiations and formed the Pacific Alliance with Peru, Colombia and Chile. Mexico's current government, led by President Enrique PENA NIETO, emphasized economic reforms during its first two years in office, passing and implementing sweeping education, energy, financial, fiscal and telecommunications reform legislation, among others, with the long-term aim to improve competitiveness and economic growth across the Mexican economy. Although the economy is expected to experience stronger growth in 2015 as a result of increased investment and stronger demand for Mexican exports, growth is predicted to remain below potential for reasons of inefficiencies, with a large portion of the economy and workforce in the informal sector, and corruption. Over the medium-term, the economy is vulnerable to global economic pressures, such as lower external demand, rising interest rates, and low oil prices - approximately 30% of government revenue comes from the state-owned oil company, PEMEX. The increasing integration of supply chains, development of the energy sector, and government-to-government focus on trade facilitation will continue to make the North American region increasingly competitive and contribute to Mexican economic development and strength.
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Source
: CIA |
STATUTORY INFORMATION
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Legal Name: |
FABRICA DE CAMISAS MANCHESTER S.A. DE C.V. |
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Trade Name: |
MANCHESTER |
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RFC: |
FCM8011131C2 |
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Date Created: |
1939 |
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Date Incorporated: |
1939 |
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Legal Address: |
Av Ignacio Morones Prieto No 2110 Pte, Colonia Loma Larga |
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Operative Address: |
Av Ignacio Morones Prieto No 2110 Pte, Colonia Loma Larga |
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Telephone: |
81 8122 3000 |
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Fax: |
81 8344 1868 |
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Legal Form: |
SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE |
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Email: |
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Registered in: |
Mexico |
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Website: |
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Contact: |
Victor Espiridion Canavati Fraige, President and Director |
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Staff: |
420 |
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Activity: |
Apparel & Textile Products |
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BANKS |
BANAMEX |
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The company does not make its banking data public |
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History
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Fabrica De Camisas Manchester, S.A. De C.V. was founded in 1939. |
PRINCIPAL
ACTIVITY
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The Company's line of business includes the manufacturing of mens and boys furnishings. |
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Products/Services description: |
Shirts, T-Shirts, Shoes, Sweaters, Socks, Coats, etc. |
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Brands: |
Trademarks |
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Sales are: |
Wholesale |
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Clients: |
General clients, distributors |
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Suppliers: |
TEXCAUCA S.A |
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Operations area: |
National |
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The company imports from |
China, Thailand, Colombia |
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The company exports to |
USA |
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The subject employs |
420 employees |
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Payments: |
No Complaints |
LOCATION
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Headquarters : |
Av Ignacio Morones Prieto No 2110 Pte |
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Branches: |
The company does not have branches |
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Sister Companies: |
FABRICA DE CAMISAS GINO SA DE CV |
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NA |
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Capital: |
NA |
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Shareholders: |
The company’s major holder is: |
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Management: |
Victor Espiridion Canavati Fraige, President and Director |
FINANCIAL
INFORMATION
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This is a private company which does not make its financials public. |
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There are no financial connected to the subject. |
LEGAL
FILINGS
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There are no legal connected to the subject |
SUMMARY
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The Company's line of business includes the manufacturing of mens and boys furnishings. It has 76 years of experience in the market with a large sized structure. The company is part of a group of companies and is well establihsed in the industry operating with a brand exported to USA. |
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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INTERVIEW |
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NAME |
Enrique Diaz |
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POSITION |
Human Resources |
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COMMENTS |
The person contacted confirmed address, managers, sister company, ownership, staff, ID, activity. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
|
1 |
Rs.99.95 |
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Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.