MIRA INFORM REPORT

Report Date :

30.06.2011

IDENTIFICATION DETAILS

Name :	BORDE SA
Registered Office :	Les Gardelles, 43170 Saugues
Country :	France
Date of Incorporation :	January 1973
Com. Reg. No.:	788267292
Legal Form :	Public limited company with board of directors
Line of Business :	Other processing and preserving of vegetables

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Poor
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)
France	a2	a2

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

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REGISTERED NAME & COMPANY SUMMARY

Company Summary

Company Details
Company Number	78826729200043
Name	BORDE SA
Telephone	04 71 77 70 70
Fax
Legal form	Public limited company with board of directors
RCS Registration	788267292
Share Capital	200,000
Incorporation Date
Address	LES GARDELLES
Postcode	43170 SAUGUES
Nationality	France

Company Information

company details
Company Name	BORDE SA
Company Number	78826729200043
Activity (APE)	Autre transformation et conservation de legumes (Other processing and preserving of vegetables)
Activity (APRM)
Currency	EURO (€)
Share capital	200,000
Registration Court	Le Puy (43)
Legal form	Public limited company with board of directors
Court Registry Number	73 B 00059
EU VAT Number
Incorporation Date
Formation Date	01/1973
Deregistration Date
Last account Date	N/A
Nationality	France

Establishment details
Postal Address	LES GARDELLES, 43170 SAUGUES,
Trading Address	LES GARDELLES, 43170 SAUGUES,
Telephone	04 71 77 70 70
Fax
Type	Head office
Status	Economically active
Formation Date	01/1973
Reason for formation	Other
Closure Date
Reason for closure
Reactivation Date
Production Role
Activity Nature	-
Activity Location	Other
Location Service
Seasonality

CREDIT RECOMENDATION

Current Credit Limit: 50,000€

DIRECTORS/MANAGEMENT

Directors Summary

Directorships

Directors

Director
Name	M BORDE ALAIN	Manager position	Président du conseil d'administration
Date of birth	28/04/1966	Place of birth	CHADRAC
Type of manager	Individual	Name at birth of manager
Director
Name	M BORDE MICHEL	Manager position	Directeur général délégué
Date of birth	14/07/1967	Place of birth	SAUGUES
Type of manager	Individual	Name at birth of manager

NEGATIVE INFORMATION

Judgements Summary

No judgements against this company.

Judgements

Collective Procedures

Courts

There are no Judgements filed against this company.

Rncs

There are no Judgements filed against this company.

Bodacc

There are no Judgements filed against this company.

Preferentials Rights

No social security and tax office preferential right to date.

SHARE & SHARE CAPITAL INFORMATION

Na

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

No group structure for this company.

FINANCIAL INFORMATION

Accounts & Ratios

No accounts filed for this company.

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Other establishments

Branches

4 branch entities in this company

Company number	78826729200043	Company name	BORDE SA
Type	Head office	Activity (ape)	Autre transformation et conservation de légumes
Post Code	43170	City	SAUGUES

Company number	78826729200035	Company name	BORDE SA
Type	Secondary establishment	Activity (ape)	Transformation et conservation de légumes
Post Code	43170	City	SAUGUES

Company number	78826729200019	Company name	BORDE SA
Type	Secondary establishment	Activity (ape)	Transformation et conservation de légumes
Post Code	43170	City	SAUGUES

Company number	78826729200027	Company name	BORDE SA
Type	Secondary establishment	Activity (ape)	Autre transformation et conservation de légumes
Post Code	43700	City	COUBON

Regionality

Legal unit with all establishments in same area

Mono-activity status

Legal unit having all establishments with the same main activity

Workforces

Workforce at address

20 to 49 employees

Company workforce

50 to 99 employees

Event history

Status history

No status history for this company.

Recent Publications in Gazettes
Publication Date	Gazette Name	Description
27/12/2002	B	Modifications et mutations diverses
RCS Le Puy B 788267292 RC 73-B 59 BORDE S.A. Forme : S.A. à conseil d' administration. Capital : 200 000 euros. Adresse du siège social : Les Gardelles, 43170 Saugues. Administration : administrateurs : BORDE (Gérard, Alexandre) M m e BORDE, née PLUYE ( Josette). Commissaire aux comptes titulaire : ALIX (Jean, Pierre). Commissaire aux comptes suppléant : JOUVE (Jean-Pierre). Directeur général délégué et administrateur : BORDE ( Michel, Joseph, Gérard). Président du conseil d'administration et directeur général : BORDE (Alain, Alexandre, Claude). Ancien P.-D.G. : BORDE (Alain, Alexandre, Claude). Ancien directeur général et administrateur : BORDE ( Michel, Joseph, Gérard) Etablissement principal: Activité : achat, vente, import-export, négoce et transformation de tous produits alimentaires. Adresse : Les Gardelles, 43170 Saugues. Date d'effet : 13 novembre 2002.
31/01/2001	B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Le Puy B 788267292 RC 73-B 59 BORDE S.A. Forme : S.A. à conseil d'administration. Capital : 1 000 000 de F. Adresse : Les Gardelles, 43170 Saugues. Administration : Nouvelle situation du siège social. Capital : 200 000 euros Etablissement principal: Activité : tous produits alimentaires, achat, vente, import- export, négoce et transformation. Adresse : Les Gardelles, 43170 Saugues. Commentaires : augmentation du capital et conversion en euros. Date d'effet : 7 décembre 2000.
29/08/1999	B	Modifications et mutations diverses
RCS Le Puy B 788267292 RC 73-B 59 BORDE S.A. Forme : S.A. à conseil d' administration. Capital : 1 000 000 de F. Adresse du siège social : Les Gardelles, 43170 Saugues. Administration : P.-D.G. : BORDE (Alain, Alexandre, Claude). Directeur général et administrateur : BORDE (Michel, Joseph, Gérard). Administrateurs : BORDE (Gérard, Alexandre) Mme BORDE, née PLUYE ( Josette). Commissaire aux comptes titulaire : ALIX (Jean, Pierre). Commissaire aux comptes suppléant : JOUVE (Jean, Pierre). Ancien P.-D.G. : BORDE (Gérard). Ancien administrateur : BORDE (Michel) Etablissement principal: Activité : achat, vente, import-export, négoce et transformation de tous produits alimentaires. Adresse : Les Gardelles, 43170 Saugues. Date d'effet : 16 juillet 1999.
30/08/1997	B	Modifications et mutations diverses
RCS Le Puy B 788 267 292 RC 73-B 59 BORDE S.A. Forme : S.A. à conseil d' administration. Capital : 1 000 000 de F. Adresse du siège social : Les Gardelles 43170 Saugues Etablissement principal: Activité : champignons sylvestres, conditionnement, séchage ou mise en conserves. Adresse : Les Gardelles 43170 Saugues ETABLISSEMENT PRINCIPAL nouvelle situation. Activité : achat, vente, import-export, négoce et transformation de tous produits alimentaires. Date d'effet : 26 juin 1997.
18/08/1997	B	Modifications et mutations diverses
RCS o. RCS Le Puy B 788 267 292 RC RC 73- B 59 BORDE S.A. Forme : S.A. à conseil d' administration. Capital : 1 000 000 de F. Adresse du siège social : Les Gardelles 43170 Saugues. Commentaires : ancienne adresse du siège social : rue Alexandre- Borde, 43170 Saugues. Ancienne dénomination : SOCIETE D'EXPLOITATION DES ETABLISSEMENTS BORDE GERARD Etablissement principal: Activité : conditionnement, séchage ou mise en conserve de champignons sylvestres. Adresse : Les Gardelles 43170 Saugues. Date d'effet : 26 mai 1997.

Company events history
Date	Description
28/10/2010	Collection of preferential rights activated for this company
02/03/2010	Update of participations in other companies
12/12/2002	Nomination/démission des organes de gestion
12/12/2002	Acte sous seing privé
12/12/2002	Statuts mis à jour
12/12/2002	PV d'Assemblée
12/12/2002	PV du Conseil d'Administration
12/01/2001	Acte sous seing privé
12/01/2001	Augmentation de Capital
12/01/2001	Conversion du Capital Social en Euros
12/01/2001	Statuts mis à jour
12/01/2001	PV d'Assemblée
11/08/1999	Nomination/démission des organes de gestion
11/08/1999	Changement de Président (PDG, PCA)
11/08/1999	Modification du Conseil d'Administration
11/08/1999	Acte sous seing privé
11/08/1999	PV d'Assemblée
11/08/1999	PV du Conseil d'Administration
05/08/1997	Modification de l'objet social
05/08/1997	Statuts mis à jour
Establishment events history
Date	Description
07/05/2011	Update Limit
06/05/2011	Update Rating
22/01/2011	Update Limit
21/01/2011	Update Rating
04/09/2010	Update Limit
25/07/2010	Update Limit
14/09/2009	Update Limit
14/09/2009	Update Rating
02/02/2009	Update Limit
02/02/2009	Update Rating
16/12/2007	Update Limit
11/12/2007	Update Limit

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.94
UK Pound	1	Rs.71.91
Euro	1	Rs.64.60

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.