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MIRA INFORM REPORT
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Report No. : |
505845 |
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Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
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Name : |
REPRESENTACIONES CANONTEX LIMITADA |
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Registered Office : |
Patricia
Viñuela 334, Panamericana Norte Km 15.5, Lampa, Santiago, Región
Metropolitana de Santiago |
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Country : |
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Date of Incorporation : |
12.04.1994 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import, export, marketing, distribution of textile
products for the home and institutional. Manufacture of lingerie for the
home, bedding, sheets, towels, blankets, quilts, pillows, blankets,
institutional towels, institutional sheets, among others. |
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No. of Employees : |
100 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
From 2003 through 2013, real growth averaged almost 5% per
year, despite a slight contraction in 2009 that resulted from the global
financial crisis. Growth slowed to an estimated 1.4% in 2017. A continued drop
in copper prices prompted
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 October 2016, those sovereign wealth funds - kept mostly outside the country
and separate from Central Bank reserves - amounted to more than $23.5 billion.
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
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Source
: CIA |
COMPANY
NAME and address
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COMPANY
NAME |
REPRESENTACIONES CANONTEX LIMITADA |
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TRADE
NAME |
REPRESENTACIONES CANONTEX LTDA |
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TAX
ID. TYPE |
RUT |
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TAX
ID. NUMBER |
78.526.430-4 |
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CURRENT
STATUS |
Active |
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MAIN
ADDRESS |
Patricia
Viñuela 334, Panamericana Norte Km 15.5, Lampa |
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Santiago,
Región Metropolitana de Santiago |
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PHONE
NUMBER(S) |
(56-2) 2482.5000
/ 5849 |
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FAX |
(56-2) 2482.5000 |
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EMAIL |
anicolet@canontex.cl |
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WEBSITE |
www.cannonhome.cl |
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REMARKS ON IDENTIFICATION |
Another website: www.cannontex.cl (under maintenance) This report was requested with phone numbers: (56 2)
367-1200, which is incomplete; and (56 2) 2367-1200, which only rings; and fax
number: 367-9091, which is incomplete. Be advised that the correct data are
indicated above. As for the bank indicated: BANCO ITAU CORPBANCA, which
does not provide information due to bank secrecy. Be advised that the correct
banks are mentioned in this report. |
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SAFETY REPORT |
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PAYMENT
|
No Complaints |
LEGAL
INFORMATION
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TYPE
OF COMPANY |
Limited Liability Company |
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INCORPORATION
DATE |
12/04/1994 |
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CITY
OF REGISTRATION |
Santiago |
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REGISTRY
NUMBER |
Sheet 11163, No. 9205 |
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NOTARY |
Patricio Zaldívar Mackenna |
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TERM |
10 years (renewable) |
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INITIAL
CAPITAL |
Ps$ 20,000,000.00 Chilean Pesos |
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PAID
UP CAPITAL |
Ps$ 11,250,971,596.00
Chilean Pesos |
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LAST
CAPITAL INCREASE |
10/05/2013 (CBRS Sheet 36437, No. 24445) |
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LISTED
AT STOCK EXCHANGE |
NO |
COMMENTS
ON LEGAL ASPECTS. –
On 12/04/1994, the company REPRESENTACIONES CANONTEX
LIMITADA was constituted before the notary Patricio Zaldívar Mackenna, by
public deed or repertoire No. 60909.
On 30/05/1994, the Public Deed of the constitution of
the company was registered in Sheet 11163, Number 9205 in the Registry of Commerce of the Real Estate
Registrar of Santiago, Chile.
On 12/07/1994, it was incorporated to the SII
(Internal Revenue Service) of Chile, when he started to pay taxes to the State.
On 10/03/2013, the merger by absorption of
REPRESENTACIONES CANONTEX LIMITADA (absorbing company) and COMERCIAL VALENCIA
LIMITADA (absorbed company) was carried out. This was registered in Sheet 36437,
Number 24445 in the Registers of Commerce
of the Real Estate Registrar of Santiago, Chile.
It may
use the following trade names:
REPRESENTACIONES CANONTEX LTDA.
CANONTEX LTDA.
CANON LTDA.
RELATED
COMPANIES
|
COMPANY NAME |
TAX
ID. NUMBER |
COUNTRY |
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INVERSIONES
NAZARETH LIMITADA |
RUT 76.004.491-1 |
CHILE |
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INMOBILIARIA
BELEN LIMITADA |
RUT 76.026.680-9 |
CHILE |
BOARD
OF DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
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NAME |
JOB
TITLE |
STAKE |
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SABAG ZARRUK, VÍCTOR ANTONIO |
General Manager |
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SABAG ZARRUK, EDUARDO PANCRACIO |
Commercial Manager |
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CONTRERAS ZAMUDIO, JOSÉ LUIS |
Supply Chain Manager |
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NICOLET ARES, ALEXANDRE MICHEL |
Area Manager |
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GAMERRE, PAULETTE |
Foreign Purchases Responsible |
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INVERSIONES NAZARETH LIMITADA |
Partner |
50% |
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INMOBILIARIA BELEN LIMITADA |
Partner |
50% |
DATA
OF THE BOARD OF DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
SABAG ZARRUK, VÍCTOR ANTONIO
Chilean.
ID 7717445-1.
SABAG ZARRUK, EDUARDO PANCRACIO
Chilean.
ID 7534715-4.
INVERSIONES NAZARETH LIMITADA
Chilean
Company. RUT: 76.004.491-1.
INMOBILIARIA BELEN LIMITADA
Chilean Company. RUT 76.026.680-9.
OPERATIONS
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SECTOR |
C- Industrial Manufacturing |
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ACTIVITY |
Manufacture of textile products |
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ISIC
CATEGORY |
13- Manufacture of textile products |
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ISIC
CLASS |
1311- Preparation and spinning of
textile fibers |
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MAIN
ACTIVITY |
Import, export, marketing, distribution of textile
products for the home and institutional. Manufacture of lingerie for the
home, bedding, sheets, towels, blankets, quilts, pillows, blankets,
institutional towels, institutional sheets, among others. |
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%
SALES IN CASH |
40% |
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%
SALES ON CREDIT |
60% (terms at 30, 60 days) |
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%
TERRITORY OF SALES |
99% (domestic market) |
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%
FOREIGN SALES |
1% |
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%
LOCAL PURCHASES |
20% |
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%
FOREIGN PURCHASES |
80% |
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N.
OF EMPLOYEES |
100 |
LOCATION. –
ADMINISTRATIVE OFFICE, WAREHOUSE: located
at captioned address in a commercial zone with easy access routes.
OTHER PREMISES:
Zofri - Manzana 3, Iquique, I Región –
Chile. Phone: (56-57) 242.1873.
Manzana 1 s/n, Galpón 21, Recinto
Amurallado, Iquique, I Región – Chile. Phone:
(56-57) 241.1385.
COMMENTS AS TO OPERATIONS. –
It holds
a client portfolio comprised of companies in the hotel sector and general
public.
Main clients:
ROLE SA (Paraguay)
Main competitors:
COMERCIAL ECCSA SA
TEXTILES KALINDI SA
COMERCIALIZADORA SA
It
imports sheets and covers, bed clothes, prints. Bed, table, dresser or kitchen
linen. Other made up textile articles; sets or assortments; clothing and rags.
Fibers of polyesters, synthetic discontinuous, not carded, combed or otherwise
processed for spinning. Synthetic or artificial discontinuous fibers.
It
exports sheets and covers, as well as other patterned bedding.
FOREIGN
TRADE
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IMPORTS
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YEAR |
2018
(January - March) |
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AMOUNT |
US$ 3,914,487.62 |
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COUNTRIES |
China,
Pakistan, India, Colombia, South Korea, Peru, Germany |
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NUMBER
OF OPERATIONS |
76 |
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IMPORTS
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YEAR |
2017 |
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AMOUNT |
US$ 22,158,792.05 |
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COUNTRIES |
China,
Pakistan, India, Colombia, South Korea, Malaysia, Egypt, Uruguay, Peru, Spain |
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NUMBER
OF OPERATIONS |
418 |
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IMPORTS
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YEAR |
2016 |
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AMOUNT |
US$ 6,199,878.77 |
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COUNTRIES |
China,
Pakistan, India, Colombia, South Korea, Spain |
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NUMBER
OF OPERATIONS |
115 |
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IMPORTS
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YEAR |
2014 |
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AMOUNT |
US$ 11,964,107.75 |
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COUNTRIES |
China,
Pakistan, India, Colombia, South Korea, Mexico, Spain |
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NUMBER
OF OPERATIONS |
173 |
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EXPORTS
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YEAR |
2017 |
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AMOUNT |
US$ 2,528.78 |
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COUNTRIES |
Peru |
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NUMBER
OF OPERATIONS |
1 |
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EXPORTS
|
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YEAR |
2014 |
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AMOUNT |
US$ 220,854.10 |
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COUNTRIES |
Peru |
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NUMBER
OF OPERATIONS |
1 |
FINANCIAL
INFORMATION
We interviewed Ms. Paulette Gamerre (Purchasing Responsible)
who declined to provide commercial information on the company, except for
financial data since they are confidential since the inquirer’s name was
required.
No financial figures were obtained through outside sources.
INSURANCE. –
No
insurance policy obtained.
PAYMENTS
REFERENCES
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SUPPLIER |
FOREIGN |
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START OF THE BUSINESS |
Several years ago |
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CREDIT TERMS |
60 days |
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PRODUCTS/SERVICES |
Sheets, towels |
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COMMENTS |
Payments through transfers. Supplier: INDUSTRIAS CANNON DE COLOMBIA SA |
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FOREIGN
SUPPLIERS |
COUNTRY |
PHONE
NUMBER |
CONTACT
NAME |
|
ZAFAR FABRICS (PVT) LTD. |
Pakistan |
(92-41) 881.2380 |
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ABDUL AHAD TEXTILE MILLS PVT LTD. |
Pakistan |
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INDUSTRIAS CANNON DE COLOMBIA SA |
Colombia |
(57-5) 334.4841 |
Gina Burgos |
COMMENTS OF SUPPLIERS. –
Possible
local suppliers consulted do not provide commercial information regarding their
clients on grounds of confidentiality.
BANKS
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BANK
NAME |
COUNTRY |
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ITAÚ CORPBANCA SA |
Chile |
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BANCO DE
CHILE SA |
Chile |
BANK
REFERENCES
Consulted
banks do not provide information of its clients on grounds of confidentiality.
LITIGATIONS
OFAC - US Office of Foreign Assets Control
Agency dependent on the Office of Terrorism and Financial
Intelligence of the US Ministry of Finance. (Internal Revenue Service-IRS) that
administers and applies economic sanctions imposed by the United States against
different countries or individuals. These sanctions are based on the country's
foreign policy and national security objectives; and they are used to prevent
countries, entities and individuals from using the US financial system for purposes
against US policy and its national security objectives.
REPRESENTACIONES CANONTEX LIMITADA is not sanctioned.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.78 |
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|
1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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CPL |
1 |
INR 0.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.