MIRA INFORM REPORT

Report Date :

30.07.2011

IDENTIFICATION DETAILS

Name :	LABORATORIOS IMA S.A.I.C.
Registered Office :	Palpa 2862, Ciudad De Buenos Aires, C1426DPB
Country :	Argentina
Year of Establishment :	1961
Legal Form :	Private Independent
Line of Business :	Medical Products Laboratory

RATING & COMMENTS

MIRA’s Rating :

B

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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Argentina	b1	b1

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

Bottom of Form

Company name & address

Laboratorios Ima S.A.I.C.

Palpa 2862

Ciudad De Buenos Aires, C1426DPB

Argentina

Tel: 54-11-45547878

Fax: 54-11-45540507

Web: www.laboratoriosima.com.ar

synthesis

Employees: 50

Company Type: Private Independent

Incorporation Date: 1961

Reporting Currency: NA

Annual Sales: NA

Total Assets: NA

Business Description

Medical Products Laboratory

Industry

Industry Healthcare Facilities

ANZSIC 2006: 8520 - Pathology and Diagnostic Imaging Services

NACE 2002: 8514 - Other human health activities

NAICS 2002: 621512 - Diagnostic Imaging Centers

UK SIC 2003: 8514 - Other human health activities

US SIC 1987: 8071 - Medical Laboratories

Key Executives

Name	Title
Jorge Mauricio Zaffaroni	Presidente
Daniel Sorsana	Contador
Elena Blanco	Gerente Administrativo
Alejandra Isabel Fernándes	Directora Técnica
Silvio David	Co-Director

1 - Profit & Loss Item Exchange Rate: USD 1 =
2 - Balance Sheet Item Exchange Rate: USD 1 =

Corporate Overview

Location

Palpa 2862

Ciudad De Buenos Aires, C1426DPB

Argentina

Tel: 54-11-45547878

Fax: 54-11-45540507

Web: www.laboratoriosima.com.ar

Sales (mil): NA

Assets (mil): NA

Employees: 50

Industry: Healthcare Facilities

Incorporation Date: 1961

Company Type: Private Independent

Quoted Status: Not Quoted

Presidente: Jorge Mauricio Zaffaroni

Contents

· Industry Codes

· Business Description

Industry Codes

ANZSIC 2006 Codes:

8520 - Pathology and Diagnostic Imaging Services

NACE 2002 Codes:

8514 - Other human health activities

NAICS 2002 Codes:

621512 - Diagnostic Imaging Centers

US SIC 1987:

8071 - Medical Laboratories

UK SIC 2003:

8514 - Other human health activities

Business Description

Medical Products Laboratory

Executives report

Executive

Name	Title	Name
Jorge Mauricio Zaffaroni	Presidente	President
Elena Blanco	Gerente Administrativo	Administration Executive
Daniel Sorsana	Contador	Finance Executive
Lilian Zaffaroni	Gerente Financiera	Finance Executive
Alejandra Isabel Fernándes	Directora Técnica	Research & Development Executive
Silvio David	Co-Director	Other

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.16
UK Pound	1	Rs.72.10
Euro	1	Rs.63.10

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%)

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