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Report No. : |
345284 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
C&A MODAS LTDA. |
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|
|
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Registered Office : |
Alameda Araguaia, 1222 - 1022 – Alphaville 06455-000 - Barueri/Sp |
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Country : |
Brazil |
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Date of Incorporation : |
05.01.1981 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Retail sale of wearing apparel in general. |
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|
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No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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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) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
BRAZIL ECONOMIC OVERVIEW
Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, and a rapidly expanding middle class, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. Since 2008, Brazil became a net external creditor and all three of the major ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. After reaching historic lows of 4.5% in early 2014, the unemployment rate remains low, but is rising. Brazil's traditionally high level of income inequality has declined for each of the last 15 years. GDP growth has slowed since 2011, due to several factors, including: overdependence on exports of raw commodities, low productivity, high operational costs, persistently high inflation, and low levels of investment. Brazil’s fiscal and current account balances have eroded during the past four years as the government attempted to boost economic growth through targeted tax cuts for industry and incentives to spur household consumption. After winning re-election in October 2014 by a historically narrow margin, President Dilma ROUSSEFF appointed a new economic team led by Finance Minister Joaquim LEVY, who introduced a fiscal austerity package intended to restore the primary account surplus to 1.2% of GDP and preserve the country’s investment-grade sovereign credit rating. Brazil seeks to strengthen its workforce and its economy over the long run by imposing local content and technology transfer requirements on foreign businesses, by investing in education through social programs such as Bolsa Familia and the Brazil Science Mobility Program, and by investing in research in the areas of space, nanotechnology, healthcare, and energy.
|
Source
: CIA |
C&A
MODAS LTDA.
ADDRESSES
|
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MAIN ADDRESS: |
ALAMEDA ARAGUAIA, 1222 - 1022 - ALPHAVILLE |
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ZIP CODE/CITY: |
06455-000 - BARUERI/SP |
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PHONE: |
11 2134-9326 |
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FAX: |
11 2134-9352 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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ADDRESS: |
AVENIDA MENINO MARCELO,3800 |
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ZIP CODE/CITY: |
57073-470 MACEIÓ/AL |
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ADDRESS: |
AVENIDA VISCONDE DE SOUZA FRANCO,776 - LOJA 250 / 355 |
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ZIP CODE/CITY: |
66053-000 BELÉM/PA |
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ADDRESS: |
AVENIDA MOREIRA LIMA,221 - CENTRO |
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ZIP CODE/CITY: |
57020-220 MACEIÓ/AL |
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ADDRESS: |
RUA HERCULANO PINHEIRO,1001 |
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ZIP CODE/CITY: |
21525-620 RIO DE JANEIRO/RJ |
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PHONE: |
21 3125-8900 |
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ADDRESS: |
AV. COMENDADOR GUSTAVO PAIVA,5945 LJ ANDORA |
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ZIP CODE/CITY: |
57038-000 MACEIO/AL |
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ADDRESS: |
AV. PERIMETRAL NORTE, LSU,3 PASSEI |
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ZIP CODE/CITY: |
74445-360 GOIANIA/GO |
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ADDRESS: |
RUA ENGENHEIRO CAMILO OLIVETTI,295 SUC R01, R01A |
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ZIP CODE/CITY: |
07042-040 GUARULHOS/SP |
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THE COMPANY IS REPORTED TO HAVE SEVERAL BRANCHES WITHIN THE STATES OF:
MACEIÓ/AL, MANAUS/AM, SALVADOR/BA, FEIRA DE SANTANA/BA, FORTALEZA/CE,
BRASÍLIA/DF, TAGUATINGA/DF, VITÓRIA/ES, VILA VELHA/ES, APARECIDA DE
GOIÂNIA/GO, GOIÂNIA/GO, SÃO LUÍS/MA, CAMPO GRANDE/MS, BELO HORIZONTE/MG,
CONTAGEM/MG, UBERLÂNDIA/MG, BELÉM/PA, RIO DE JANEIRO/RJ AND SÃO PAULO/SP,
IPATINGA/MG, RIO DE JANEIRO/RJ |
LEGAL
DATA
|
|
MAIN ACTIVITIES: |
|
RETAIL SALE OF WEARING APPAREL IN GENERAL. |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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|
|
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INCORPORATION DATE: |
05/01/1981 |
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REGISTER DATE: |
05/01/1981 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
45.242.914/0001-05 |
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STATE REGISTER: |
206.018.367.112 |
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|
|
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SHARE CAPITAL: |
R$
690.712.516,00 |
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LAST REGISTER OF CAPITAL: |
31/08/2015 |
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BOARD OF
DIRECTORS: |
|
|
|
|
|
FRACISLEI CASSIO DONATTI |
MANAGER |
|
MILTON LUCATO FILHO |
MANAGER |
|
PAULO CORREA JUNIOR |
MANAGER |
|
ELIO GEORGE AVELINO FRANCA E SILVA |
MANAGER |
|
ERICA PASCHOALICK ALEXANDRE |
MANAGER |
|
MARCIA CRISTINA LUCENA DO NASCIMENTO COSTA |
MANAGER |
|
ROGERIO MEDEIROS UENO |
MANAGER |
AUTHORIZED
USE OF SIGNATURE
|
|
THE MANAGERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
INCAS S/A (LUXEMBOURG) |
R$
345.325.758,00 |
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COFRA INVESTMENTS SARL |
R$ 345.325.758,00 |
|
COFRA LATIN AMERICA LTDA (BRAZIL) |
R$ 61.000,00 |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
MONDIAL IMPEX LTDA |
100,0% |
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COFRA INVESTIMENTOS LTDA |
99,90% |
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BRASBEL ADM. E PARTICIPAÇÃO LTDA |
|
|
AVANTI PROPAGANDA LTDA |
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COMPANY'S
BACKGROUND
|
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THE SUBJECT WAS ESTABLISHED ON JANUARY 05, 1981 AS C. E A. MODAS LTDA
TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER THE COMPANY ADOPTED THE
ABOVE-MENTIONED NAME. TRADE NAME: "C&A". SHAREHOLDERS/PARTNERS: COFRA INVESTMENTS SARL: HEADQUARTERED AT
ROUTE DE LONGWEY, LUXEMBOURG 48 RUE DE BRAGANCE L-1255; COFRA LATIN AMERICA LTDA: REGISTRATION # NIRE 35.217.725.871,
HEADQUARTERED AT ALAMEDA ARAGUAIA, 1222, TER BL. E CJ 3, ALPHAVILLE,
BARUERI/SP. INCAS S/A: HEADQUARTERED AT RU DE BRANGAVE L-1255, LUXEMBOURG; FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN CONTACTING THE SUBJECT WE INTERVIEWED MS. ROGERIO BUENCE,
FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF
INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED. IF IT IS POSSIBLE TO DISCLOSE THE NAME OF
THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO
OBTAIN FURTHER INFORMATION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
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PUBLIC INFORMATION: |
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PROTESTS: |
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26 PROTESTS,TOTAL AMOUNT R$
464.359,23 |
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DATE OF FIRST PROTEST:
11/2010 R$ 149,02 |
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DATE OF HIGHEST PROTEST:
09/2015 R$ 266.174,82 |
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DETAILS OF LATEST PROTESTS: |
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NOTARY OFFICE: |
DATE: |
VALUE: |
|
4º CARTORIO DE CUIABA/MT |
14/09/2015 |
R$ 19.757,03 |
|
2º CARTORIO DE BRASILIA/DF |
22/09/2015 |
R$ 266.174,82 |
|
1º CARTORIO DE PLANO PILOTO/DF |
18/08/2015 |
R$ 33.112,83 |
|
2º CARTORIO DE CABO/PE |
10/08/2015 |
R$ 493,86 |
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2º CARTORIO DE BRASILIA/DF |
21/09/2015 |
R$ 1.542,72 |
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LAWSUITS: |
|
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|
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DATE: |
COURT OF LAW: |
|
1 |
STATE LAWSUIT |
25/01/12 |
11ª VARA DE RIO DE JANEIRO/RJ |
|
1 |
EXECUTIVE LAWSUIT |
09/07/13 |
3ª VARA DE CAMPINA GRANDE/PB |
|
1 |
MUNICIPAL LAWSUIT |
11/12/12 |
VARA DE TAUBATE/SP |
|
1 |
MONITORY SUIT |
24/08/15 |
9ª VARA DE RIO DE JANEIRO/RJ |
FINANCIAL
INFORMATION
|
|
DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE
BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY
DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION. OUTSIDE SOURCES CONTACTED SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY. |
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EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 3,84 |
- OFFICIAL RATE ON 16/10/2015 |
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COMMENTS ON THE
FINANCIAL INFORMATION: |
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IN THE ABSENCE OF FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT
THE SUBJECT'S CURRENT FINANCIAL STANDING. |
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REAL ESTATE: |
NOT AVAILABLE
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
INSURANCE
|
|
NOT AVAILABLE. |
BANKING
REFERENCES
|
|
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BRANCH/PHONE: |
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BANCO REAL (SANTANDER) S/A |
0689 / 11 3174-7109 |
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BANCO DO BRASIL S/A |
3070 / 11 6845-8327 |
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BANCO BRADESCO S/A |
1382 / 11 2178-4500 |
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REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION
WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). DATE RESEARCHED: OCTOBER 16, 2015. |
ACTIVITIES
COMMENTS
|
|
RETAIL SALE OF WEARING APPAREL IN GENERAL. |
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IMPORT AND
EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
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MAIN CLIENTS: |
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|
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DOMESTIC
CLIENTS: |
|
|
|
PUBLIC IN GENERAL |
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|
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STAFF: |
|
|
|
NOT AVAILABLE |
CONCEPT
AND FULFILMENT
|
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THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1981. IT
SHOWS A LOT OF DETRIMENTAL FILES BUT ITS TRADE HISTORY SHOWS FAR MORE PROMPT
PAYMENTS. THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED. THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE
RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID.
NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUITS DO NOT AFFECT THE COMPANY'S
TRADE REPUTATION. OUR INVESTIGATION THROUGH THE PUBLIC RECORDS SHOWED SEVERAL DETRIMENTAL
FILES REGISTERED AGAINST THE SUBJECT BUT DUE TO THE SUBJECT'S HIGH FINANCIAL
STRENGTH AND HIGH SCALE OF OPERATIONS THE DETRIMENTAL FILES DO NOT AFFECT ITS
TRADE REPUTATION. HOWEVER, AS NO FINANICAL DATA IS AVAILABLE SUCH DETRIMENTAL
FILES SHOULD BE TAKEN INTO ACCOUNT. |
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MAIN SUPPLIERS: |
|
|
|
|
|
|
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DOMESTIC
SUPPLIERS: |
|
|
|
CALÇADOS AZALÉIA S/A |
|
|
|
GRENDENE S/A |
|
|
|
ITAUTEC S/A |
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PAYMENT HISTORY: |
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28 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 252.949.398,00 |
|
|
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AMOUNT OF INVOICES PAID: 13537 |
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TOTAL OF PROMPT PAYMENTS: 99% |
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TOTAL OF DELAYED PAYMENTS: 1% |
|
|
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HIGHEST INVOICE: R$ 2.801.152,00 |
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HIGHEST CREDIT: R$ 2.801.152,00 |
|
|
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OUTSTANDING
INVOICES DUE WITHIN THE NEXT 90 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
2 |
71 |
R$ 1.659.522,01 |
|
DUE WITHIN 60 DAYS |
1 |
92 |
R$ 2.277.353,40 |
|
DUE WITHIN 90 DAYS |
1 |
65 |
R$ 1.559.483,40 |
FINAL
OPINION
|
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL
YEARS. BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR
NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON
FULLY SECURED TERMS ONLY DUE TO THE ABSENCE OF FINANCIAL DATA AND GIVEN THE
HIGH AMOUNT OF DETRIMENTAL FILES. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
|
|
1 |
Rs.10.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.