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MIRA
INFORM REPORT
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Report No. : |
495553 |
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Report Date : |
15.03.2018 |
IDENTIFICATION DETAILS
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Name : |
GROUP NATURE S.A. |
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Registered Office : |
Km 13 Acaray, Minga Guazu, Alto Parana, Republic of Paraguay |
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Country : |
Paraguay |
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Date of Incorporation : |
2015 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
· Plastic Industry. · Recycling of Plastics and Manufacture of Pet Flakes. |
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No. of Employees : |
110 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Paraguay |
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 |
PARAGUAY - ECONOMIC OVERVIEW
Landlocked Paraguay has a market economy distinguished by a large
informal sector, featuring re-export of imported consumer goods to neighboring
countries, as well as the activities of thousands of microenterprises and urban
street vendors. A large percentage of the population, especially in rural areas,
derives its living from agricultural activity, often on a subsistence basis.
Because of the importance of the informal sector, accurate economic measures
are difficult to obtain.
On a per capita basis, real income has grown steadily over the past decade.
The economy grew rapidly between 2003 and 2008 as strong world demand for
commodities, combined with high prices and favorable weather, supported
Paraguay's commodity-based export expansion. Paraguay is the sixth largest soy
producer in the world. Drought hit in 2008, reducing agricultural exports and
slowing the economy even before the onset of the global recession. The economy
fell 3.8% in 2009, as lower world demand and commodity prices caused exports to
contract. Severe drought and outbreaks of hoof-and-mouth disease in 2012 led to
a brief drop in beef and other agricultural exports. Since 2014, however,
Paraguay’s economy has grown at a 4% average annual rate due to strong
production and high global prices, at a time when other countries in the region
have contracted.
The Paraguayan Government recognizes the need to diversify its economy
and has taken steps in recent years to do so. In addition to looking for new
commodity markets in the Middle East and Europe, Paraguayan officials have
promoted the country’s low labor costs, cheap energy from its massive Itaipu
Hydroelectric Dam, and single-digit tax rate on foreign firms. As a result, the
number of factories operating in the country – mostly transplants from Brazil -
has tripled since 2014.
Political uncertainty, corruption, limited progress on structural
reform, and deficient infrastructure are the main obstacles to long-term
growth. Paraguay has been adverse to public debt throughout its history, but
has recently changed its anti-debt policies to finance infrastructure
improvements to attract foreign investment. Judicial corruption is endemic and
is seen as the greatest barrier to attracting more foreign investment.
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Source
: CIA |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.99 |
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1 |
INR 90.83 |
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Euro |
1 |
INR 80.58 |
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PYG |
1 |
INR 0.012 |
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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PRI |
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Report Prepared
by : |
TPT |
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
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Promoters
/ Management background
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Payment
record
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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.