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MIRA INFORM REPORT
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Report No. : |
507600 |
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Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
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Name : |
MARTOLIO NEUMATICOS SRL |
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Registered Office : |
Avenida Mitre 1491 Sastre 2440-Santa Fe Argentina |
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Country : |
Argentina |
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Financials (as on) : |
2016 [Summarized] |
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Date of Incorporation : |
1974 |
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Legal Form : |
Sociedad De Responsabilidad Limitada (Limited Liability Company) |
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Line of Business : |
Subject is a small organization in the tires and tube companies
industry located in Sastre, Argentina. |
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No. of Employees : |
24 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 took 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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.08 |
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1 |
INR 91.14 |
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Euro |
1 |
INR 80.00 |
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ARS |
1 |
INR 3.01 |
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:
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Financial condition covering various ratios
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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
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Industry scenario / competitor analysis
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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.