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Report No. : |
345950 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
TECUMSEH DO BRASIL LTDA |
|
|
|
|
Registered Office : |
Rua Coronel José Augusto De Oliveira Salles, 478 - Vila Izabel 13570-820 - SÃO CARLOS/SP |
|
|
|
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Country : |
Brazil |
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Date of Incorporation : |
11.07.1972 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of hermetic compressors for refrigeration and air conditioning,
its components and related products, as well as other components or electric
products and/or mechanical, besides the commercialization of its own products
or third parties' as well as import and export. |
|
|
|
|
No. of Employees : |
3100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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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|
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 reelection 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 |
TECUMSEH DO BRASIL
LTDA
|
MAIN ADDRESS: |
RUA CORONEL JOSÉ AUGUSTO DE OLIVEIRA SALLES,478 - VILA IZABEL |
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ZIP CODE/CITY: |
13570-820 - SÃO CARLOS/SP |
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PHONE: |
16 3363-7000 |
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E-MAIL: |
sorigoti@tecumseh.com.br |
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WEB SITE: |
www.tecumseh.com.br |
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BRANCHES: |
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ADDRESS: |
RUA RAY WESLEY HERRICK,700 - JARDIM JOCKEY CLUB |
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ZIP CODE/CITY: |
13565-900 SÃO CARLOS/SP |
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PHONE: |
16 3362-7078 |
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CNPJ: |
45.361.425/0005-98 |
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STATE REGISTER: |
637.053.042.111 |
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MAIN ACTIVITIES: |
|
MANUFACTURE OF HERMETIC COMPRESSORS FOR REFRIGERATION AND AIR
CONDITIONING, ITS COMPONENTS AND RELATED PRODUCTS, AS WELL AS OTHER
COMPONENTS OR ELECTRIC PRODUCTS AND/OR MECHANICAL, BESIDES THE COMMERCIALIZATION
OF ITS OWN PRODUCTS OR THIRD PARTIES' AS WELL AS IMPORT AND EXPORT. |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
|
|
|
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INCORPORATION DATE: |
11/07/1972 |
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REGISTER DATE: |
11/07/1972 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
45.361.425/0001-64 |
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STATE REGISTER: |
637.024.200.111 |
|
|
|
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SHARE CAPITAL: |
R$
176.716.874,00 |
|
LAST REGISTER OF CAPITAL: |
12/07/2010 |
|
BOARD OF
DIRECTORS |
|
|
|
|
|
ANTONIO DONIZETTI POIANI |
DIRECTOR |
|
ROGERIO CRUZ THEMUDO LESSA |
MANAGER |
|
ANTONIO SSASSO GARCIA FILHO |
DIRECTOR |
|
JOSE RUBENS MARQUEZINI |
DIRECTOR |
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THE DIRECTORS AND MANAGER ARE AUTHORIZED TO SIGN ON BEHALF OF THE
COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
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|
|
|
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7510233 CANADA INC. |
R$
176.716.873,00 |
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TECUMSEH COMPRESSOR COMPANY |
R$ 1,00 |
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AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
NOT AVAILABLE |
|
|
TECUMSEH DO BRASIL LTDA. IS ONE OF THE WORLD'S LARGEST MANUFACTURERS
OF HERMETIC COMPRESSORS FOR REFRIGERATION. A SUBSIDIARY OF TECUMSEH PRODUCTS
COMPANY (USA), IT WAS ESTABLISHED IN NOVEMBER 1972 AND HAD ITS PRODUCTIVE
ACTIVITIES INITIATED IN 1973. LOCATED IN SÃO CARLOS, IN THE MOST PROGRESSIVE REGION OF SÃO PAULO
STATE (BRAZIL), THE CITY IS KNOWN FOR ITS IMPORTANT INDUSTRIAL, SCIENTIFIC
AND TECHNOLOGICAL CENTERS. IN A MODERN 790,000-M2 INDUSTRIAL PARK AND 130,000 M2 OF BUILT AREA,
TWO INTEGRATED PLANTS PRODUCE HERMETIC COMPRESSORS FOR THE DOMESTIC AND
COMMERCIAL REFRIGERATION AND AIR CONDITIONERS, AND ELECTRIC AND ELECTRONIC
COMPONENTS. EXPORTS REPRESENT 73% OF THE PRODUCTION TO OVER 70 COUNTRIES. THE SUBJECT'S PREVIOUS NAMES ARE: SOCIEDADE INTECONTINENTAL DE COMPRESSORES HERMETICOS SICOM S/A. SOCIEDADE INTERCONTINENTAL DE COMPRESSORES LTDA. ON AUGUST 19, 1996 CHANGED ITS LEGAL NAME TO THE PRESENT REGISTERED
ONE. ON MAY 21, 1999 THE SUBJECT TOOK OVER ITS AFFILIATE COMPANY COMPELA
COMPONENTES ELÉTRICOS LTDA. SUBJECT HAS BEEN AWARDED THE FOLLOWING CERTIFICATES: ISO 9001 BY BVQI IN 1992. ISSO 9001:2000 BY BVQI ENVIRONMENT MANAGEMENT SYSTEM BY BVQI IN 2001, IN COMPLIANCE WITH ISO
14001 RULES. PARTNERS: 7510233 CANADA INC: HEADQUARTERED AT 185 ASHLAND AVENUE, P.O. BOX
7305, LONDON STATION MAIN, LONDON, ONTARIO, N5Y 5TI, CANADA. TECUMSEH COMPRESSOR COMPANY: HEADQUARTERED AT EAST PATTERSON STREET
100, TECUMSEH, MICHIGAN, UNITED STATES, , REPRESENTED BY ITS ATTORNEY MR.
ROGERIO CRUZ THEMUDO LESSA, BRAZILIAN, HOLDER OF DOCUMENTS CPF 227.873.728-72
AND RG 3202060, RESIDENTIAL ADDRESS AT AVENIDA PEDROSO DE MORAES, 1201,
PINHEIROS, ZIP CODE 05419-001, SÃO PAULO/SP; FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN CONTACTING THE SUBJECT WE INTERVIEWED MR. ROBERTO, ACCOUNTING
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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NO DETRIMENTAL FILES WERE FOUND. |
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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. OUR INVESTIGATION THROUGH THE OUTSIDE SOURCES SHOWED NO FINANCIAL DATA
ABOUT THE SUBJECT. |
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EXCHANGE RATE: |
|
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US$ 1,00 = R$ 3,86 |
- OFFICIAL RATE ON 20/10/2015 |
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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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DETAIL OF OWNED
REAL ESTATE: |
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TYPE: |
BUILDING |
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VALUE: |
R$ ,00 |
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REMARKS: |
PREMISES ARE OWNED. VALUE WAS NOT DISCLOSED. |
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
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NOT AVAILABLE. |
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CITY: |
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BANCO BRADESCO S/A |
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SÃO CARLOS/SP |
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BANCO DO BRASIL S/A |
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SÃO CARLOS/SP |
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BANCO ITAÚ S/A |
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SÃO CARLOS/SP |
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BANCO SANTANDER (BRASIL) S/A |
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SÃO CARLOS/SP |
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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"). |
|
MANUFACTURE OF HERMETIC COMPRESSORS FOR REFRIGERATION AND AIR
CONDITIONING, ITS COMPONENTS AND RELATED PRODUCTS, AS WELL AS OTHER
COMPONENTS OR ELECTRIC PRODUCTS AND/OR MECHANICAL, BESIDES THE
COMMERCIALIZATION OF ITS OWN PRODUCTS OR THIRD PARTIES' AS WELL AS IMPORT AND
EXPORT. MAIN PRODUCT LINE: HERMETIC COMPRESSORS FOR REFRIGERATION AND AIR
CONDITIONING, ELECTRIC COMPONENTS. |
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IMPORT AND
EXPORT: |
IMPORTS FROM:
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ENGLAND, NETHERLANDS, UNITED STATES, JAPAN, DENMARK AND FRANCE. |
EXPORTS TO:
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LATIN AMERICA, EUROPE AND AFRICA. |
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MAIN CLIENTS: |
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DOMESTIC
CLIENTS: |
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CONSUL S/A |
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ELECTROLUX S/A |
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|
ROBERT BOSCH LTDA |
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|
SIEMENS LTDA |
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SPRINGER CARRIER S/A |
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STAFF: |
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THE COMPANY HAS: 3100 EMPLOYEE(S) |
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THE SUBJECT IS AN OLD-ESTABLISHED COMPANY, OPERATING AS A SUBSIDIARY
OF A LARGE-SIZED NORTH AMERICAN GROUP. SO FAR IT OPERATES WITH A CLEAR TRADE
HISTORY AND ENJOYING A FAVORABLE REPUTATION AMONG LOCAL TRADE AND BANKING
CIRCLES. 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. |
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MAIN SUPPLIERS: |
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|
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DOMESTIC
SUPPLIERS: |
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BILLITON METAIS S/A |
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CEZAN EMBALAGENS LTDA. |
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CSN - CIA. SIDERÚRGICA NACIONAL |
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ESTAMPARIA E MOLAS EXPANDRA LTDA. |
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FICAP S/A |
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FREIOS CONTROIL LTDA. |
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PIRELLI PRODUTOS ESPECIAIS LTDA. |
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|
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USINAS SIDERÚRGICAS DE MINAS GERAIS S/A USIMINAS |
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FOREIGN
SUPPLIERS: |
COUNTRY: |
|
|
DIELECTRICS LTD |
ENGLAND |
|
|
FUSITE BV |
NETHERLANDS |
|
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VITRUS INC. |
UNITED STATES |
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PAYMENT HISTORY: |
|
22 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 476.399,00 |
|
|
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AMOUNT OF INVOICES PAID: 144 |
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TOTAL OF PROMPT PAYMENTS: 95,5% |
|
TOTAL OF DELAYED PAYMENTS: 4,5% |
|
|
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HIGHEST INVOICE: R$ 49.729,00 |
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HIGHEST CREDIT: R$ 49.729,00 |
|
|
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OUTSTANDING
INVOICES DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
2 |
15 |
R$ 40.352,97 |
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS.
IT IS SUBSIDIARY OF A LARGE-SIZED AND OLD-ESTABLISHED NORTH AMERICAN GROUP
AND SO FAR OPERATES WITH A CLEAR TRADE HISTORY AND A GOOD PAYMENT RECORD. 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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
NIT |
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.