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Report No. : |
351141 |
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Report Date : |
26.11.2015 |
IDENTIFICATION DETAILS
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Name : |
FALCROP S.A. |
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Registered Office : |
Ciudad De |
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Country : |
Argentina |
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Date of Incorporation : |
06.04.2010 |
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Legal Form : |
Joint stock company |
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Line of Business : |
The
company is dedicated to the wholesale of fertilizers and pesticides. Herbicides,
Insecticides and miticides, Curasemillas, Fungicides, Several |
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No. of Employee : |
4 |
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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Argentina |
C1 |
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 has taken multiple steps in recent years to
deal with these problems. It 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. In October 2013, the government
settled long-standing international arbitral disputes dating back to before and
following the 2001 Argentine financial crisis. During 2014, the government
continued with expansionary fiscal and monetary policies and foreign exchange
and imports controls. Between 2011 and 2013, Central Bank foreign reserves had
dropped $21.3 billion from a high of $52.7 billion. In July 2014, Argentina and
China agreed on an $11 billion currency swap; the Argentine Central Bank has
received the equivalent of $3.2 billion in Chinese yuan, which it counts as
international reserves.
In 2014, the government also took some 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 agreeing to pay $9.7 billion in
arrears to the Paris Club over five years, including $606 million owed to the
United States. In July 2014, Argentina made its first payment to Paris Club
creditors since the country's 2001 financial crisis. At the same time, the
Argentine government in July 2014 entered a technical default on its external
debt after it failed to reach an agreement with holdout creditors in the US.
The government's delay in reaching a settlement and the continuation of
interventionist and populist policies are contributing to high inflation and a
prolonged recession, according to private analysts.
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Source : CIA |
STATUTORY
INFORMATION
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Order: |
FALCORP S.A. |
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Comments on name provided: |
Dear Sirs, At the address provided and with
the ID given, we found company FALCROP S.A. |
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Address in the order: |
CIUDAD DE |
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Legal Name: |
FALCROP S.A. |
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Trade Name: |
FALCROP |
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CUIT: |
30-71135635-1 |
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Date Created: |
2010 |
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Date Incorporated: |
06/04/2010 |
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Legal Address: |
Ciudad De |
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Operative Address: |
Ciudad De |
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Telephone: |
54 11 5294-1133 |
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Fax: |
54 11 5294-1133 |
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Legal Form: |
SOCIEDAD ANÓNIMA |
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Email: |
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Registered in: |
AGENCIA NRO 41 |
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Website: |
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Contact: |
Alejandro Gabriel De Falco, President |
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Staff: |
4 |
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Activity: |
Wholesale Sector Industry |
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BANKS |
According to Argentinian Central Bank, the
company maintains credit lines with the following banks: |
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BANK |
AMOUNT IN AR$ |
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BANCO DE GALICIA Y BUENOS AIRES S.A. |
81,2 |
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According to the classification of banking
relations of Argentina, |
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There are no rejected checks |
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History
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The company was established in 2004 |
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PRINCIPAL
ACTIVITY
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The company is dedicated to the wholesale of
fertilizers and pesticides. |
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Products/Services description: |
Herbicides |
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Brands: |
FALCROP |
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Sales are: |
Wholesale |
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Clients: |
Farms |
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Suppliers: |
VELSIMEX, S.A. DE C.V. |
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Operations area: |
They serve market needs of the humid pampas
(Grain production area) but also actively participate in the regional
economies of Cuyo, NEA, NOA, Black River Valley, horticultural and fruit
belts of the major cities. Currently they have 33 own products registered in
SENASA between herbicides, insecticides and fungicides. |
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The company imports from |
Mexico |
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The company exports to |
No exports |
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The subject employs |
4 employees |
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Payments: |
No complaints |
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LOCATION
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Headquarters : |
Ciudad De |
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Branches: |
The company does not have branches |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
AR$ 50.000 |
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Shareholders: |
This is a private company. Major holders
are: |
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Management: |
Norberto Enrique Ros, Responsible |
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FINANCIAL
INFORMATION
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This is a private company which does not
make its financials public. |
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2014 AR$ |
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Revenue |
6 663 000 |
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Net Income |
741 000 |
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Total Equity |
994 700 |
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LEGAL
FILINGS
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There are no legal connected to the subject |
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SUMMARY
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The company is dedicated to the wholesale
of fertilizers and pesticides. |
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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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INTERVIEW |
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NAME |
NA |
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POSITION |
Receptionist |
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COMMENTS |
We called the company and the receptionist
transferred our call to the manager. We reeached his voicemail and left a
message asking them to return our call. If we receive their response, we will
inform immediately. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
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US Dollar |
1 |
Rs.66.38 |
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UK Pound |
1 |
Rs.100.45 |
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Euro |
1 |
Rs.70.55 |
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ARS |
1 |
Rs.6.89 |
INFORMATION DETAILS
|
Analysis
Done by : |
KIN |
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Report
Prepared by : |
TRU |
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.