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Report No. : |
340728 |
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Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
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Name : |
FALABELLA RETAIL S.A. |
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|
|
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Registered Office : |
Calle Manuel Rodríguez Norte N° 730, Santiago |
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Country : |
Chile |
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|
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Year of Establishment : |
1889 |
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|
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Legal Form : |
Sociedad Anónima |
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Line of Business : |
Retail, Banking & Telecommunications |
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No. of Employees : |
75 Employees |
RATING & COMMENTS
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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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|
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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) |
|
Chile |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CHILE - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports of goods and services account for approximately one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides 19% of government revenue. From 2003 through 2013, real growth averaged almost 5% per year, despite the slight contraction in 2009 that resulted from the global financial crisis. Growth slowed to 4.2% in 2014. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile has 22 trade agreements covering 60 countries including agreements with the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has joined the United States and 10 other countries in negotiating the Trans-Pacific Partnership trade agreement. The Chilean Government has generally followed a countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and generally allowing deficit spending only during periods of low copper prices and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $20.9 billion. Chile used these funds to finance fiscal stimulus packages during the 2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD. In 2014, President Michelle BACHELET introduced tax reforms aimed at delivering her campaign promise to fight inequality and to provide access to education and health care. The reforms are expected to generate additional tax revenues equal to 3% of Chile’s GDP, mostly by increasing corporate tax rates to OECD averages.
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Source
: CIA |
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Order: |
Falabella Retail SA |
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Address in the order: |
MANUEL RODRIGUEZ 730, SANTIAGO,CHILE |
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Legal Name: |
FALABELLA RETAIL S.A. |
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Trade Name: |
FALABELLA
|
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RUT: |
77261280-K |
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Date Created: |
1889 |
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Date Incorporated: |
01/04/1999 |
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Legal Address: |
Calle Manuel Rodríguez Norte N° 730, Santiago, Chile |
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Operative Address: |
Calle Manuel Rodríguez Norte N° 730, Santiago, Chile |
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Telephone: |
(56-2) 2380 2000 |
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Fax: |
(56-2) 2385 9000 |
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Legal Form: |
Sociedad Anónima |
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Email: |
|
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Registered in: |
Chile |
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Website: |
www.falabella.com/falabella-cl |
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Contact: |
Carlos Alberto Heller Solari |
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Staff: |
75 |
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Activity: |
Retail/ Banking & Telecommunications |
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SANTANDER CHILE |
|
BBVA S.A. NY BRANCH |
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The company does not make its banking data
public |
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Falabella Retail S.A. operates as a subsidiary
of Inversiones Falabella Ltda. The company has recently changed its legal
address from Calle Rosas 1664 Santiago Chile to Calle Manuel Rodríguez Norte N° 730, Santiago, Chile |
|
S.A.C.I. Falabella is engaged in the
operation of department stores across Latin America. It is registered as a
public quoted company, traded on the Santiago Stock Exchange under ticker
symbol FALABELLA. The company was founded in 1889. The main business office
of the company is located in Santiago, Chile. |
|
Falabella Retail S.A. operates as a
subsidiary of Inversiones Falabella Ltda. and has an MVNO Licence. |
|
|
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Falabella is a multinational chain of department
stores owned by Chilean multinational company S.A.C.I. Falabella, is the
largest South American department store. The company is involved in Retail and also
banking financial services. |
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Products/Services description: |
Clothing, footwear, accessories, bedding,
furniture, jewelry, beauty products, and housewares |
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Sales are: |
Retail |
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Clients: |
General Clientele |
|
|
FALABELLA DE COLOMBIA S A |
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Brands: |
Falabella, Mango · Basement |
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Suppliers: |
Redfield Group Co., Ltd. |
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Operations area: |
National and International |
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The company imports from |
Blangadesh, China, Spain |
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The company exports to |
Argentina, Chile, Colombia, Peru |
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The subject employs |
75 employees |
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Payments: |
No Complaints |
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Headquarters : |
Calle Manuel Rodríguez Norte N° 730, Santiago, Chile |
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Branches: |
The company does not have branches |
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders %: |
Falabella Retail S.A. operates as a
subsidiary of:
|
|
Management: |
Carlos Alberto Heller Solari, President |
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Related Companies: |
Sodimac Peru SA, Hipermercados Tottus SA,
Viajes Falabella SA, Aventura Plaza SA, Malls Peru SA, Falabella de Colombia
SA, Home Let SA |
|
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This is a private company which does not make
its financial statements public. |
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|
|
|
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Falabella Retail SA is endorsed by
Shearvan Corporate S.A (Offshore Company at Caribbean) |
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Import
US$ |
|
|
Year |
Total |
|
2014 |
US$ 446,747,791 |
|
2013 |
US$ 455,850,461 |
|
2012 |
US$ 389,857,506 |
|
2011 |
US$ 415,541,173 |
|
2010 |
US$ 296,198,050 |
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2009 |
US$ 196,825,497 |
|
2008 |
US$ 89,127,328 |
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|
|
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Export
US$ |
|
|
Year |
Total |
|
2014 |
US$ 160,090 |
|
2010 |
US$ 106,103 |
There are no legal filings registered for the subject
|
Falabella is a multinational chain of
department stores owned by Chilean multinational company S.A.C.I. Falabella,
is the largest South American department store Falabella Retail S.A. operates as a
subsidiary of Inversiones Falabella Ltda, at the same time the latter is a
subsidiary of S.A.C.I Falabella, a multinational store chain involved also in
financial services and travels with billionaire revenues. The company is well established, supported
by a large group of companies without negative. |
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DEBTS |
M$ 23.013.261 |
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PAYMENTS |
No Complaints |
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CASH FLOW |
High |
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STATUS |
Active |
|
ENTERVIEW |
|
|
NAME |
Gabriela |
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POSITION |
Administration |
|
COMMENTS |
She confirmed new address, staff,
ownership. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.58 |
|
UK Pound |
1 |
Rs.102.29 |
|
Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
|
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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 |
|
|
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.