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MIRA INFORM REPORT
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Report No. : |
511987 |
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Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PRIMATELA SAS |
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Registered Office : |
Kr 63 17B 50 Bogota D.C. Colombia |
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Country : |
Colombia |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
09.01.1992 |
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Legal Form : |
Companies For Simplified Shares Sas |
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Line of Business : |
Subject corporate purpose is the commercialization and manufacture of fabrics
for haute couture clothing and endowment, in addition to being a distributor
of domestic and imported textiles for clothing. |
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No. of Employees : |
203 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRAs 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 : |
Regular |
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Litigation : |
Exist |
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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Colombia |
A2 |
A2 |
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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 |
COLOMBIA - ECONOMIC OVERVIEW
Colombia heavily depends on energy and mining exports, making it
vulnerable to fluctuations in commodity prices. Colombia is Latin Americas fourth
largest oil producer and the worlds fourth largest coal producer, third
largest coffee exporter, and second largest cut flowers exporter. Colombias
economic development is hampered by inadequate infrastructure, poverty,
narcotrafficking, and an uncertain security situation, in addition to
dependence on primary commodities.
Colombias economy slowed in 2017 because of falling global oil prices
and lower oil production due to insurgent attacks on pipeline infrastructure.
Although real GDP growth averaged 4.7% during the past decade, it fell to an
estimated 1.8% in 2017. Declining oil prices also have contributed to reduced
government revenues. In 2016, oil revenue dropped below 4% of the federal
budget and likely remained below 4% in 2017. A Western credit rating agency in
December 2017 downgraded Colombias sovereign credit rating to BBB-, because of
weaker-than-expected growth and increasing external debt. Colombia has
struggled to address local referendums against foreign investment, which have slowed
its expansion, especially in the oil and mining sectors. Colombias FDI
declined by 3% to $10.2 billion between January and September 2017.
Colombia has signed or is negotiating Free Trade Agreements (FTA) with
more than a dozen countries; the US-Colombia FTA went into effect in May 2012.
Colombia is a founding member of the Pacific Alliancea regional trade block
formed in 2012 by Chile, Colombia, Mexico, and Peru to promote regional trade
and economic integration. The Colombian government took steps in 2017 to
address several bilateral trade irritants with the US, including those on truck
scrappage, distilled spirits, pharmaceuticals, ethanol imports, and labor
rights. Colombia hopes to accede to the Organization for Economic Cooperation
and Development.
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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 67.63 |
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1 |
INR 89.70 |
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Euro |
1 |
INR 78.20 |
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COP |
1 |
INR 0.023 |
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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NIY |
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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 SCs 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.