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MIRA INFORM REPORT
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Report No. : |
484000 |
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Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BIGUEST S.A. |
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Registered Office : |
Bacacay 3047 1406-Ciudad Autonoma Buenos
Aires |
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Country : |
Argentina |
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Date of Incorporation : |
30.03.2011 |
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Legal Form : |
Sociedad Anónima |
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Line of Business : |
Subject is a family company which is engaged
in the manufacture and sale of knitted fabrics. |
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No. of Employees : |
25 |
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 : |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Argentina |
B2 |
B2 |
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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 |
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. In 2016, the World Bank downgraded Argentina from a high-income to upper-middle-income economy, on par with Columbia.
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 below 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, 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 slowed in late 2011 even as the government continued to rely on expansionary fiscal and monetary policies, which kept inflation in the double digits.
In order to deal with these problems, the government expanded state intervention in the economy: it nationalized the oil company YPF from Spain's Repsol, expanded measures to restrict imports, and further tightened currency controls in an effort to bolster foreign reserves and stem capital flight. Between 2011 and 2013, Central Bank foreign reserves 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.
With the election of President Mauricio MACRI in November 2015, Argentina began a historic political and economic transformation, as his administration took steps to liberalize the Argentine economy, lifting capital controls, floating the peso, removing export controls on some commodities, cutting some energy subsidies, and reforming the country’s official statistics. Argentina negotiated debt payments with holdout bond creditors and returned to international capital markets in April 2016. In September 2016, Argentina completed its first IMF Article IV Consultation since 2006.
After years of international isolation, Argentina has taken on several international leadership roles in 2017, including hosting the World Economic Forum on Latin America and the World Trade Organization Ministerial Conference, and is set to assume the presidency of the G-20 in 2018.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
BIGUEST S.A. |
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Trade Name: |
BIGUEST
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CUIT: |
30-71187863-3 |
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Date Created: |
2011 |
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Date Incorporated: |
30/03/2011 |
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Legal Address: |
BACACAY 3047 1406-CIUDAD AUTONOMA BUENOS AIRES |
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Operative Address: |
Bacacay 3047 1406 Capital Federal Autonomous City of Buenos Aires -
Argentina |
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Telephone: |
54 11 4612-8283 54 11 4612-8281 54 11 4612-8282 |
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Fax: |
54 11 4612-8283 |
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Legal Form: |
SOCIEDAD ANÓNIMA |
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Email: |
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Registered in: |
AGENCIA NRO 1 |
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Website: |
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Contact: |
Patricio Adrián Van Der Horst |
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Staff: |
25 |
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Activity: |
Textile Industry |
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Banks: |
According to Argentinian Central Bank,
the company maintains |
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BANK |
AMOUNT IN AR$ |
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BANCO CREDICOOP
COOPERATIVO LIMITADO |
12899 |
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BANCO DE LA
PROVINCIA DE BUENOS AIRES |
5782 |
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BANCO MACRO S.A. |
1989 |
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MERCEDES-BENZ
COMPAÑÍA FINANCIERA S.A. |
1031 |
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BANCO DE GALICIA
Y BUENOS AIRES S.A. |
97 |
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According to the classification of
banking relations of Argentina,
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There are no rejected checks for the
subject |
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History: |
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The company was incorporated in 2011. |
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PRINCIPAL
ACTIVITY
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Cottontel is a family company which is
engaged in the manufacture and sale of knitted fabrics. |
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Products/Services description: |
Knitted fabrics, Dry Clean Services |
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Brands: |
COTTONTEL |
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Sales are: |
Wholesale and Retail |
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Clients: |
General Public |
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Suppliers: |
Banswara Syntex Ltd. India |
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Operations area: |
National |
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The company imports from |
India |
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The subject employs |
25 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
Bacacay 3047 1406 Capital Federal Autonomous City of Buenos Aires -
Argentina |
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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$ 12.000 |
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Shareholders: |
Shareholder: |
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Management: |
Director and President: Patricio Adrián Van
Der Horst DNI 27.659.918 Gral. José Avalos 2070, Piso 1. Depto. B,
CABA. Director y Vicepresident: Alicia Liberman DNI 11.643.908, Gral. José Avalos 2070, Piso 1. Depto. B,
CABA. Alternate Director: Mariela Inés Van Der
Horst DNI 29.906.052 Mendoza 5646, CABA |
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FINANCIAL
INFORMATION
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The company does
not public its financial statements. The following information has been
provided by outsie sources: |
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ARS 2016 |
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Sales |
4 000 000 |
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Cash Flow |
Normal |
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Foreign trade in the last 5 years: Imports: Shipments: 124 US $: 7,659,002 Exports: Does not register shipments. |
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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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Cottontel is a family company which is
engaged in the manufacture and sale of knitted fabrics. It has 7 years from experience since its
incorporation and counts with a small-medium sized structure. The company maintains regular payment
behaviour and open credit lines with various national financial institutions. It shows no negative records. |
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RISK
INFORMATION
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DEBTS |
Medium |
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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 |
Patricia |
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POSITION |
Administrative |
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COMMENTS |
She confirmed address, CUIT, name and management.
She refused to provide more information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.48 |
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1 |
INR 86.41 |
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Euro |
1 |
INR 76.54 |
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ARS |
1 |
INR 3.43 |
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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VIV |
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Report Prepared
by : |
TRU |
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.