MIRA INFORM REPORT

Report Date :

14.01.2011

IDENTIFICATION DETAILS

Correct Name :	J.PICA & CIA. INC.

Registered Office :	Calle A esq.Escorial Urbanizaciòn Industrial Marco Julia, San Juan of Puerto Rico

Country :	Puerto Rico

Date of Incorporation :	08.03.1963

Legal Form :	Incorporated Society

Line of Business :	Marketing of Appliances, Clothing, Bedding

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Unknown

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Puerto Rico

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Registered Name

J.PICA & CIA. INC.

"TIENDAS CAPRI"

Summary

INCORPORATED IN 1963. BEGINNER OF ACTIVITIES. NOT PROVIDE BALANCE SHEET. NOT NEGATIVE. FIT FOR OPERATIONS OF CURRENT IMPORTANCE WITH THE ADOPTION OF APPROPRIATE GUARANTEES.

Operations

APPLIANCES
CLOTHING
BEDDING
MARKETING

Legal Structure

Legal form:            Incorporated Society
Created:             08/03/1963
Registered: Cdad.        San Juan de Puerto Rico
Duratiòn:                         Unlimited
End of fiscal year:          31/12

Contact

Central House and Administrative address: Calle A esq.Escorial Urbanizaciòn Industrial Marco Julia, San Juan of Puerto Rico, Repúblic of Puerto Rico.
Phone: (1-787) 793-7575
Fax.: (1-787) 793-0333

Partners

President: PICA JORGE
Vicepresident: VILAS ARMANDO

The aforementioned are responsible for the management and administration of the company, in its capacity as manager using the firm name interchangeably.

History

These commercial activities were directly started by this company under legal clauses before mentioned.

It has 17 branches located in major cities throughout the country.

Economic-Financial Position

Categorical refusal to supply financial information.

According to our investigations, it operates with a medium level of importance and doesn't register setbacks.

Assets

REAL STATE:
-------------------
Within the fixed assets of the company, including the large room occupied with its headquarters, of good value of realization, transcending it has with others about which no details are obtained.

Evolution and Results

The diversity of products that the owner has in his efforts is extensive, especially the sale of bedding, clothing for women and children, toiletries and related products, household appliances. counting with an extensive network of local well-placed, installed, stocked with imported mostly.

Specific imports from U.S., China, India, Taiwan, Colombia, Thailand, etc., not being known his foray into the export market.

* Employees: 997

MAIN SUPPLIERS:
---------------
PROCTER & GAMBLE COMMERCIAL CO. (Puerto Rico)
COLGATE PALMOLIVE (Puerto Rico)
UNIGAIN TRADING Co. Ltd. (Taiwan)

Payment Record and Credit Risk

BANCO POPULAR DE PUERTO RICO
Branch of Parque and Ponce de León, Sant, Puerto Rico.

Concept

According to our investigations, it complies in due time the commitments taken within the normal terms and it is in favorable terms with its suppliers.

* FULFILLMENT: WELL RATED UNTIL THE PRESENT

Final Opinion

In the absence of accounting information, we suggest the desirability of acting with prudence, in the event that their relationship still interested in credit.

* CREDIT OPERATIONS PROCEED WITH CAUTION.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.13
UK Pound	1	Rs.71.05
Euro	1	Rs.59.10

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.