MIRA INFORM REPORT

Report Date :

07.05.2011

IDENTIFICATION DETAILS

Correct Name :	STE COMMERCE INTERNAT ECHANGE TECHNIQU
Registered Office :	Ste Commerce Internat Echange Techniqu Socitec, 011 A 013, 11 Rue D Estienne D Orves, Bp 33, 78501 Sartrouville Cedex
Country :	France
Financials (as on) :	31.12.2003
Date of Incorporation :	June 1976
Com. Reg. No.:	RCS Versailles 7 628 242 729
Legal Form :	Simplified Joint Stock Company
Line of Business :	Manufacture of other automotive equipment

RATING & COMMENTS

MIRA’s Rating :

B

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

Maximum Credit Limit :	240,000 €
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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
France	a2	a2

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

REGISTERED NAME & COMPANY SUMMARY

Name

STE COMMERCE INTERNAT ECHANGE TECHNIQU

SIRET

628 242 729 00075

Acronym	SOCITEC
Activity (APE)	Fabrication d'autres équipements automobiles (2932Z) (Manufacture of other automotive equipment)	Legal form	Simplified joint stock company
Phone	01 61 04 60 00	RCS Registration	RCS Versailles 7 628 242 729
Fax	01 39 14 03 27	Share capital	800,000 Euros
Address	STE COMMERCE INTERNAT ECHANGE TECHNIQU SOCITEC 011 A 013 11 RUE D ESTIENNE D ORVES BP 33 78501 SARTROUVILLE CEDEX	Incorporated Date	06/1976
Nationality	France	Status	Economically active

Activity (APE)	Fabrication d'autres équipements automobiles (2932Z)
RCS Registration	RCS Versailles 7 628 242 729	Share capital	800,000 Euros
Registration Court	Versailles (78)	Legal form	Simplified joint stock company
Court Registry Number	19 7 8B008	EU VAT Number	FR60628242729
Incorporation Date	06/1976	Formation Date
Deregistration Date		Last account Date	31/12/2003
Nationality	France

CREDIT RECOMENDATION

Current Credit Limit: 240,000 €

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	M. BODET JACQUES
Manager position	Président	Date of birth	21/05/1951
Place of birth	ANGERS
Type of manager	Individual	Name at birth of manager

Previous Directors

Vous pouvez consulter ici l'historique des dirigeants de l'entreprise.
Si vous souhaitez consulter l'historique d'un dirigeant, il vous suffit de cliquer sur le lien voir le détail pour y accéder.

Manager position	Title and name	Date of Birth/Place of Birth
Président Directeur Général	M JACQUES BODET

NEGATIVE INFORMATION

No negative information.

SHARE & SHARE CAPITAL INFORMATION

Na

PAYMENT INFORMATION

Nothing to disclosed.

GROUP STRUCTURE & AFFILIATED COMPANIES

Parent	BMP
Companies in Group	3

Ultimate Parent

1 ultimate parent company for this company >  BMP  - Activités des sociétés holding (6420Z)  in CHAMP SUR LAYON  (49380)

Parent	BMP
Direct parent	BMP - Majoritaire
Number of companies in the group	3
Go directly to the current company
Display only where participation % > 33 %
Display all participations

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BMP

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Raison sociale	SIREN	Parts	Score	Limite	Derniers comptes publiés
BMP	434123766	-	100	27,500 €	31/12/2009
SOCITEC	628242729	Majoritaire	86	240,000 €	31/12/2003
BODET AÉRO	334581204	Majoritaire	97	390,000 €	31/12/2009

FINANCIAL INFORMATION

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2003
Account period (month)	12
Account Type	Normal
Deposit date	-
Activity Code	2932Z
Employees	40	-	-

Active account

Annual Accounts	31/12/2003	Sector Median 2003
Capital not called	0	0	0%
Total fixed assets	239 510	223 599	7,1%
- Intangible assets	1 020	8 529	-88,0%
- Tangible assets	201 096	132 350	51,9%
- Financial assets	37 394	5 350	599,0%
Net current assets	4 017 717	1 130 665	255,3%
- Stocks	752 218	249 000	202,1%
- Advanced payments	4 498	0	0%
- Receivables	2 731 407	545 419	400,8%
- Securities and cash	529 593	53 067	898,0%
- Prepaid expenses	-	1 243	-
Accounts of regularization	58 121	0	0%
Total Assets	4 315 348	1 713 785	151,8%

Passive Account

Annual Accounts	31/12/2003	Sector Median 2003
Shareholders' equity	2 404 659	314 138	665,5%
Share capital	800 000	150 000	433,3%
Other capital resources	80 311	0	0%
Risk Provisions	115 889	0	0%
Liabilities	1 714 287	1 018 716	68,3%
- Financial liabilities	66 406	132 912	-50,0%
- Advanced payments received	5 384	0	0%
- Trade account payables	1 148 103	333 393	244,4%
- Tax and social liabilities	453 424	269 017,50	68,5%
- Other debts and fixed assets liabilities	41 168	31 731	29,7%
Account regularization	0	0	0%
Total liabilities	4 315 348	1 713 785	151,8%

Results

Annual Accounts	31/12/2003	Sector Median 2003
Sales of Goods	6 917 586	2 127 883	225,1%
Net turnover	7 057 415	2 115 181	233,7%
- of which net export turnover	2 323 604	7 364	31453,6%
Operating charges	6 400 255	2 088 752	206,4%
Operating profit/loss	517 331	20 473	2426,9%
Financial income	110 424	2 396	4508,7%
Financial charges	202 274	12 502	1517,9%
Financial profit/loss	-91 849	-2 875	-3094,7%
Pretax net operating income	425 481	16 686	2449,9%
Extraordinary income	4 964	9 034	-45,1%
Extraordinary charges	5 042	10 809	-53,4%
Extraordinary profit/loss	-78	0	0%
Net result	285 528	12 842	2123,4%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2003
Months	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2003
	Grand Total (I to VI)	Net	4 315 348
	Gross	CO	5 928 722
	Amortisation	1A	1 613 374

Non declared distributed capital (I)

		31/12/2003
Non declared distributed capital (I)	AA3	0
Gross	AA	-

Active fixed asset (II)

			31/12/2003
	Total Active fixed asset (II)	Net	239 510
	Gross	BJ	1 756 298
	Amortisation	BK	1 516 788

InTangible fixed assets

			31/12/2003
	Start-up cost	Net	0
	Gross	AB	5 244
	Amortisation	AC	5 244
	R & D expenses	Net	0
	Gross	CX	0
	Amortisation	AE	0
	Distributorships, patents	Net	1 020
	Gross	AF	167 934
	Amortisation	AG	166 914
	Goodwill	Net	0
	Gross	AH	0
	Amortisation	AI	0
	Other intangible fixed assets	Net	0
	Gross	AJ	0
	Amortisation	AK	0
	Pre-payments and downpayments	Net	0
	Gross	AL	0
	Amortisation	AM	0
Sub Total Intangible Assets		Net	1 020

Tangible fixed assets

			31/12/2003
	Lands	Net	0
	Gross	AN	0
	Amortisation	AO	0
	Buildings	Net	51 539
	Gross	AP	404 052
	Amortisation	AQ	352 513
	Plant	Net	132 865
	Gross	AR	805 019
	Amortisation	AS	672 154
	Other tangible fixed assets	Net	16 692
	Gross	AT	336 652
	Amortisation	AU	319 960
	Fixed assets in construction	Net	0
	Gross	AV	0
	Amortisation	AW	0
	Advances and payments on account	Net	0
	Gross	AX	0
	Amortisation	AY	0
	Sub Total Tangible asset	Net	201 096

Financial assets

			31/12/2003
	Associates at equity	Net	0
	Gross	CS	0
	Amortisation	CT	0
	Other participations	Net	0
	Gross	CU	0
	Amortisation	CV	0
	Inter-company receivables	Net	0
	Gross	BB	0
	Amortisation	BC	0
	Other investment securities	Net	0
	Gross	BD	0
	Amortisation	BE	0
	Loans	Net	0
	Gross	BF	0
	Amortisation	BG	0
	Other financial assets	Net	37 394
	Gross	BH	37 394
	Amortisation	BI	0
	Sub Total Financial Assets		37 394

Current Assets (III)

			31/12/2003
	Total Assets	Net	4 017 717
	Gross	CJ	4 114 303
	Amortisation	CK	96 585

Stocks

			31/12/2003
	Raw materials	Net	539 019
	Gross	BL	539 019
	Amortisation	BM	0
	Work in progress (goods)	Net	0
	Gross	BN	0
	Amortisation	BO	0
	Work in progress (services)	Net	0
	Gross	BP	0
	Amortisation	BQ	0
	Semi-finished and finished products	Net	213 199
	Gross	BR	213 199
	Amortisation	BS	0
	Goods for resale	Net	0
	Gross	BT	0
	Amortisation	BU	0
	Sub Total Stocks	Net	752 218

Advance payments to suppliers

			31/12/2003
	Advance payments to suppliers	Net	4 498
	Gross	BV	4 498
	Amortisation	BW	0

Debtors

			31/12/2003
	Trade accounts receivable	Net	2 491 760
	Gross	BX	2 588 345
	Amortisation	BY	96 585
	Other debtors	Net	222 440
	Gross	BZ	222 440
	Amortisation	CA	0
	Capital subscribed and called up	Net	0
	Gross	CB	0
	Amortisation	CC	0
	Sub Total Debtors	Net	2 714 200

Divers

			31/12/2003
	Investment securities	Net	90 686
	Gross	CD	90 686
	Amortisation	CE	0
	Cash and cash equivalents	Net	438 907
	Gross	CF	438 907
	Amortisation	CG	0
	Sub Total Divers	Net	529 593

Prepaid expenses

			31/12/2003
	Prepaid expenses	Net	17 207
	Gross	CH	17 207
	Amortisation	CI	0

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2003
Months	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2003
	Grand Total (I to VI)	Net	4 315 348
	Gross	CO	5 928 722
	Amortisation	1A	1 613 374

Non declared distributed capital (I)

		31/12/2003
Non declared distributed capital (I)	AA3	0
Gross	AA	-

Active fixed asset (II)

			31/12/2003
	Total Active fixed asset (II)	Net	239 510
	Gross	BJ	1 756 298
	Amortisation	BK	1 516 788

InTangible fixed assets

			31/12/2003
	Start-up cost	Net	0
	Gross	AB	5 244
	Amortisation	AC	5 244
	R & D expenses	Net	0
	Gross	CX	0
	Amortisation	AE	0
	Distributorships, patents	Net	1 020
	Gross	AF	167 934
	Amortisation	AG	166 914
	Goodwill	Net	0
	Gross	AH	0
	Amortisation	AI	0
	Other intangible fixed assets	Net	0
	Gross	AJ	0
	Amortisation	AK	0
	Pre-payments and downpayments	Net	0
	Gross	AL	0
	Amortisation	AM	0
Sub Total Intangible Assets		Net	1 020

Tangible fixed assets

			31/12/2003
	Lands	Net	0
	Gross	AN	0
	Amortisation	AO	0
	Buildings	Net	51 539
	Gross	AP	404 052
	Amortisation	AQ	352 513
	Plant	Net	132 865
	Gross	AR	805 019
	Amortisation	AS	672 154
	Other tangible fixed assets	Net	16 692
	Gross	AT	336 652
	Amortisation	AU	319 960
	Fixed assets in construction	Net	0
	Gross	AV	0
	Amortisation	AW	0
	Advances and payments on account	Net	0
	Gross	AX	0
	Amortisation	AY	0
	Sub Total Tangible asset	Net	201 096

Financial assets

			31/12/2003
	Associates at equity	Net	0
	Gross	CS	0
	Amortisation	CT	0
	Other participations	Net	0
	Gross	CU	0
	Amortisation	CV	0
	Inter-company receivables	Net	0
	Gross	BB	0
	Amortisation	BC	0
	Other investment securities	Net	0
	Gross	BD	0
	Amortisation	BE	0
	Loans	Net	0
	Gross	BF	0
	Amortisation	BG	0
	Other financial assets	Net	37 394
	Gross	BH	37 394
	Amortisation	BI	0
	Sub Total Financial Assets		37 394

Current Assets (III)

			31/12/2003
	Total Assets	Net	4 017 717
	Gross	CJ	4 114 303
	Amortisation	CK	96 585

Stocks

			31/12/2003
	Raw materials	Net	539 019
	Gross	BL	539 019
	Amortisation	BM	0
	Work in progress (goods)	Net	0
	Gross	BN	0
	Amortisation	BO	0
	Work in progress (services)	Net	0
	Gross	BP	0
	Amortisation	BQ	0
	Semi-finished and finished products	Net	213 199
	Gross	BR	213 199
	Amortisation	BS	0
	Goods for resale	Net	0
	Gross	BT	0
	Amortisation	BU	0
	Sub Total Stocks	Net	752 218

Advance payments to suppliers

			31/12/2003
	Advance payments to suppliers	Net	4 498
	Gross	BV	4 498
	Amortisation	BW	0

Debtors

			31/12/2003
	Trade accounts receivable	Net	2 491 760
	Gross	BX	2 588 345
	Amortisation	BY	96 585
	Other debtors	Net	222 440
	Gross	BZ	222 440
	Amortisation	CA	0
	Capital subscribed and called up	Net	0
	Gross	CB	0
	Amortisation	CC	0
	Sub Total Debtors	Net	2 714 200

Divers

			31/12/2003
	Investment securities	Net	90 686
	Gross	CD	90 686
	Amortisation	CE	0
	Cash and cash equivalents	Net	438 907
	Gross	CF	438 907
	Amortisation	CG	0
	Sub Total Divers	Net	529 593

Prepaid expenses

			31/12/2003
	Prepaid expenses	Net	17 207
	Gross	CH	17 207
	Amortisation	CI	0

Equalization accounts (IV to VI)

		31/12/2003
Multi-period charges	CW3	0
Gross		-
Premiums on redemption of bonds	CM3	0
Gross		-
Currency differential gain	CN3	58 121
Gross		-

References

		31/12/2003
Due within one year	CP	0
Due after one year	CR	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		31/12/2003
Grand Total (I to V)	EE	4 315 348

Shareholder Equity (I)

			31/12/2003
	Total shareholders' equity (Total I)	DL	2 404 659
	Equity and shareholders' equity	DA	800 000
	Issue and merger premiums	DB	175 892
	Revaluation differentials	DC	0
	Of which equity differential	EK	0
	Legal reserve	DD	80 000
	Statutory or contractual reserve	DE	0
	Special regulated reserves	DF	30 243
	Of which special reserve of provisions for current fluctuation	B1	0
	Other reserves	DG	1 032 994
	Of which reserve for buying originals works from alive artists	EJ	0
	Profits or losses brought forward	DH	0
	Profit or loss for the period	DI	285 528
	Investment grants	DJ	0
	Special tax-allowable reserves	DK	0

Other capital resources (II)

			31/12/2003
	Total other capital resources (Total II)	DO	80 311
	Income from participating securities	DM	0
	Conditional loans	DN	80 311

Provisions for risks and charges (III)

			31/12/2003
	Total provisions for risks and charges (Total III)	DR	115 889
	Risk provisions	DP	115 889
	Reserves for charges	DQ	0

Liabilities (IV)

			31/12/2003
	Total Liabilities (Total IV)	EC	1 714 287
	Convertible debentures	DS	0
	Other debentures	DT	0
	Bank loans and liabilities	DU	0
	Sundry loans and financial liabilities	DV	66 406
	Of which participating loans	EI	0
	Advance payments received for current orders	DW	5 384
	Trade accounts payables	DX	1 148 103
	Tax and social security liabilities	DY	453 424
	Fixed asset liabilities	DZ	0
	Other debts	EA	40 968

Translation loss (V)

		31/12/2003
Translation loss (Total V)	ED	200

Equalization accounts

		31/12/2003
Deferred income	EB	0

References

		31/12/2003
Of which tax-allowable reserve	EF	0
Deferred income and liabilities	EG	0
Of which current bank facilities	EH	0

Display parameter
Currency	Euro	Kilo Euro

Result account
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References

1- Operating result (I-II)

		31/12/2003
Operating result (Total I-II)	GG	517 331

2 - Financial result (V - VI)

		31/12/2003
Financial result (Total V-VI)	GV	-91 849

3 - Pre-tax net operating income result (I - VI)

		31/12/2003
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	425 481

4 - Extraordinary result (VII-VIII)

		31/12/2003
Extraordinary result (Total VII-VIII)	HI	-78

Profit or loss

		31/12/2003
Profit or loss	HN	285 528

Total Income (I+III+V+VII)

		31/12/2003
Total Income (I+III+V+VII)	HL	7 032 975

Total charges (Total II+IV+VI+VIII+IX+X)

		31/12/2003
Total charges (Total II+IV+VI+VIII+IX+X)	HM	6 747 447

Operating income (I)

		31/12/2003
Total operating income (Total I)	FR	6 917 586

Operating income (details)

			31/12/2003
	Sale of goods for resale	FC	1 117 131
	France	FA	1 094 934
	Export	FB	22 197
	Sale of goods produced	FF	5 464 327
	France	FD	3 275 592
	Export	FE	2 188 734
	Sale of services	FI	475 957
	France	FG	363 284
	Export	FH	112 672
	Net turnover	FL	7 057 415
	France	FJ	4 733 811
	Export	FK	2 323 604
	Stocked production	FM	-342 415
	Self-constructed assets	FN	0
	Operating grants	FO	19 445
	Release of reserves and provisions	FP	182 708
	Other income	FQ	432

Operating charges (II)

		31/12/2003
Total operating charges (Total II)	GF	6 400 255

Exploitation charges

		31/12/2003
Purchase of goods for resale	FS	960 480
Change in stocks of goods for resale	FT	0
Purchase of raw materials	FU	1 471 940
Change in stocks of raw materials	FV	-25 766
Other external purchases and charges	FW	1 519 131
Tax, duty and similar payments	FX	115 988
Payroll	FY	1 597 589
Social security costs	FZ	563 772

Depreciation

		31/12/2003
Depreciation of fixed assets	GA	126 508
Amortisation of fixed assets	GB	0
Depreciation/amortisation of current assets	GC	8 098
Provisions for risks and charges	GD	57 768

Other charges

		31/12/2003
Other charges	GE	4 743

Operating charges (III-IV)

		31/12/2003
Share of joint-venture transferred to other partner(s) (Total III)	GH	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0

Financial income (V)

			31/12/2003
	Total financial income (Total V)	GP	110 424
	Share financial income	GJ	0
	Other investment income & capitalised receivables	GK	0
	Other interest and similar income	GL	3 740
	Released provisions and transferred charges	GM	41 992
	Exchange gains	GN	64 691
	Net income from disposal of investment securities	GO	0

Financial Charge (VI)

			31/12/2003
	Total financial charge (Total VI)	GU	202 274
	Financial reserves and provisions	GQ	58 121
	Interest and similar charges	GR	5 186
	Exchange losses	GS	138 966
	Net loss from disposal of investment securities	GT	0

Financial Charge (VII)

			31/12/2003
	Total extraordinary income (Total VII)	HD	4 964
	Extraordinary operating income	HA	4 964
	Extraordinary income from capital transactions	HB	0
	Released provisions and transferred charges	HC	0

Extraordinary charges (VIII)

			31/12/2003
	Total extraordinary charges (Total VIII)	HH	5 042
	Extraordinary operating charges	HE	5 042
	Extraordinary charges from capital transactions	HF	0
	Extraordinary reserves and provisions	HG	0

Employee profit sharing (IX)

		31/12/2003
Employee profit sharing (Total IX)	HJ	27 291

Tax on profits (X)

		31/12/2003
Tax on profits (Total X)	HK	112 581

References

		31/12/2003
Of which equipment leases	HP	0
Of which property leases	HQ	0
Of which transferred charges	A1	0
Of which trader's own contributions	A2	0
Of which royalties on licences and patents (income)	A3	0
Of which royalties on licences and patents (charges)	A4	0

Display parameter
Currency	Euro	Kilo Euro

Other incomer tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2003
	Gross value at begin of period	OG	0
	Increasess due to revaluation	OH	0
	Decrease, acquisitions, creations, contributions	OJ	78 902
	Decrease by budget item transfer	OK1	0
	Decrease by transfers	OK2	0
	Gross value at the end of period	OL	0

Research and development Charge (Total I)

			31/12/2003
	Gross value at begin of period	CZ	0
	Increasess due to revaluation	KB	0
	Increasess, acquisitions, creations, contributions	KC	0
	Decrease by budget item transfer	C01	0
	Decrease by transfers	C02	0
	Gross value at the end of period	D0	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2003
	Gross value at begin of period	KD	0
	Increasess due to revaluation	KE	0
	Increasess, acquisitions, creations, contributions	KF	1 200
	Decrease by budget item transfer	LV1	0
	Decrease by transfers	LV2	0
	Gross value at the end of period	LW	0

Tangible fixed assets (Total III)

			31/12/2003
	Gross value at begin of period	LN	0
	Increasess due to revaluation	LO	0
	Increasess, acquisitions, creations, contributions	LP	74 361
	Decrease by budget item transfer	NG1	0
	Decrease by transfers	NG2	0
	Gross value at the end of period	NH	0

Fiancial assets (Total IV)

			31/12/2003
	Gross value at begin of period	LQ	0
	Increasess due to revaluation	LR	0
	Increasess, acquisitions, creations, contributions	LS	0
	Decrease by budget item transfer	NJ1	0
	Decrease by transfers	NJ2	0
	Gross value at the end of period	NK	0

Reserve for depreciation
Situation and movement of reserve for depreciation
Grand total (I-II-III)

			31/12/2003
	Reserve for depreciation value at begin of period	0N	1 398 955
Increases		0P	117 833
Decrease		0Q	0
	Reserve for depreciation value at the end of period	0R	1 516 788

Research and development charge (Total I)

			31/12/2003
	Reserve for depreciation value at begin of period	CY	0
Increases		PB	0
Decrease		PC	0
	Decrease by budget item transfer	PD	5 244

Other intangible assets (Total II)

			31/12/2003
	Reserve for depreciation value at begin of period	PE	0
Increases		PF	0
Decrease		PG	0
	Decrease by budget item transfer	PH	166 914

Total fixed assets amotisation (Total III)

			31/12/2003
	Reserve for depreciation value at begin of period	QU	0
Increases		QV	0
Decreases		QW	0
	Decrease by budget item transfer	QX	1 344 628

Movements during period affecting charge allocated over several period
Charges à répartir ou frais d'émission d'emprunt

			31/12/2003
	Gross value at begin of period	Z91	0
Increases		Z92	0
Depreciation of fixed assets during period		Z9	0
	Decrease by budget item transfer	B1	0

Premium refund of obligations

			31/12/2003
	Net value at begining of period	SP1	0
Increases		SP2	0
Depreciation of fixed assets during period		SP	0
	Net value at the end of period	SR	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/12/2003
	Value at begining of period	7C	0
Increases		UB	0
Decreases		UC	0
	Value at the end of period	UD	0

Includes Total allocations

Operating	UE	0
Financial	UG	0
Exceptional	UJ	0

Includes Total Withdrawal

Operating	UF	0
Financial	UH	0
Exceptional	UK	0

Total regulated provisions (Total I)

			31/12/2003
	Value at begining of period	3Z	0
Increases		TS	0
Decreases		TT	0
	Value at the end of period	TU	0

Total risk and charge provisions (Total II)

			31/12/2003
	Value at begining of period	5Z	0
Increases		TV	0
Decreases		TW	0
	Value at the end of period	TX	0

Total Provision for depreciation (Total III)

			31/12/2003
	Value at begining of period	7B	88 487
Increases		TY	8 098
Decreases		TZ	0
	Value at the end of period	UA	96 585

State deadlines claims and debts at the end of period
State claims

		31/12/2003
Gross value	VT	2 864 501
1 year at most	VU	2 712 457
More than one year	VV	152 044

State of loans

		31/12/2003
Claims related to holdings (gross)	UL	0
Claims related to shareholdings (1 year at most)	UM	0
Loans (gross)	UP	0
Loans (1 year at most)	UR	0
Other financial assets (gross)	UT	0
Other financial assets (1 year at most)	UV	0

Receivables statement of assets

		31/12/2003
Customers doubtful or disputed	VA	114 649
Other claims customer	UX	0
Receivables represent Loaned Securities	UU	0
Provision for depreciation previously established	UQ	0
Personnel and associated accounts	UY	0
Social Security and other social organizations	UZ	0
Income taxes	VM	0
Value added tax	VB	14 009
Other taxes and payments assimilated	VN	0
State and other public - Miscellaneous	VP	0
Group and Associates	VC	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0

Prepaid

		31/12/2003
Prepaid	VS	0

State Debt

			31/12/2003
	Total debt (gross)	VY	1 789 215
1 year at most		VZ2	1 721 480
More than 1 year and 5 years at most		VZ3	67 734
More than 5 years		VZ4	0

Details

			31/12/2003
	Convertible bonds (gross)	7Y1	0
1 year at most		7Y2	0
More than 1 year and 5 years at most		7Y3	0
	Other bonds (gross)	7Z1	0
1 year at most		7Z2	0
More than 1 year and 5 years at most		7Z3	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0
1 year at most		VG2	0
More than 1 year and 5 years at most		VG3	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0
1 year at most		VH2	0
More than 1 year and 5 years at most		VH3	0
	Loans and various financial liabilities (gross)	8A1	0
1 year at most		8A2	12 577
More than 1 year and 5 years at most		8A3	0
	Suppliers and associated accounts (gross)	8B1	0
1 year at most		8B2	1 148 103
More than 1 year and 5 years at most		8B3	0
	Personnel and associated accounts (gross)	8C1	237 758
1 year at most		8C2	237 758
More than 1 year and 5 years at most		8C3	0
	Social Security and other social organizations (gross)	8D1	220 995
1 year at most		8D2	220 995
More than 1 year and 5 years at most		8D3	0
	Taxes on profits (gross)	8E1	0
1 year at most		8E2	0
More than 1 year and 5 years at most		8E3	0
	VAT (gross)	VW1	1 443
1 year at most		VW2	1 443
More than 1 year and 5 years at most		VW3	0
	Backed Obligations (gross)	VX1	0
1 year at most		VX2	0
More than 1 year and 5 years at most		VX3	0
	Other taxes and assimilated (gross)	VQ1	9 436
1 year at most		VQ2	9 436
More than 1 year and 5 years at most		VQ3	0
	Assets and liabilities associated accounts (gross)	8J1	0
1 year at most		8J2	0
More than 1 year and 5 years at most		8J3	0
More than 5 years		8J4	0
	Groups and associates (gross)	VI1	50 198
1 year at most		VI2	50 198
More than 1 year and 5 years at most		VI3	0
More 5 years		VI4	0
	Other liabilities (gross)	8K1	0
1 year at most		8K2	40 968
More than 1 year and 5 years at most		8K3	0
	Debt representative of borrowed securities (gross)	SZ1	0
1 year at most		SZ2	0
More than 1 year and 5 years at most		SZ3	0
	Products in advance (gross)	8L1	0
1 year at most		8L2	0
More than 1 year and 5 years at most		8L3	0

References

		31/12/2003
Loans made during the period	VJ	0
Debt repaid during the period	VK	0

Table allocation results and other information
Dividends distributed

		31/12/2003
Dividends	ZE	0

Commitments

		31/12/2003
Commitments leasing furniture	YQ	0
Commitments Real Estate Leasing	YR	0
Effects brought to the discount and unmatured	YS	0

Other charges Externes

		31/12/2003
Subcontracting	YT	0
Rentals, rental charges and condominiums	XQ	0
Staff outside the company	YU	0
Remuneration intermediaries and fees (excluding fees)	SS	0
Fees, commissions and brokerage	YV	0
Other accounts	ST	0
Total Other purchases and external	ZJ	0

Taxes and Fees

		31/12/2003
Business tax	YW	0
Other taxes and payments assimilated	9Z	0
Total taxes and fees	YX	0

VAT

		31/12/2003
Amount VAT collected	YY	0
Total VAT on goods and services	YZ	0

Average number of employees

		31/12/2003
Average number of employees	YP	40

Groups and Shareholders

		31/12/2003
Groups and Shareholders	ZR	-

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

		31/12/2003	Sector Median 2003
Fixed Asset Financing		2,38	1,46	63,0%
Global Debt		87 days	134,50 days	-35,3%
Working Capital Fund overall net		124 days	58 days	113,8%
Financial independence		%	313,24%	-
More ratios
Solvability		57,58%	31,77%	81,2%
Capacity debt futures		%	651,53%	-
Coverage of current assets by net working capital overall		57,97%	38,56%	50,3%
General Liquidity		1,58	0,76	107,9%
Restricted Liquidity		1,88	0,93	102,2%

Management or rotation

		31/12/2003	Sector Median 2003
Need background in operating working capital		93 days	31 days	200%
Treasury		27 days	4,50 days	500%
Inventory turnover of goods		0 days	0 days	0%
Average length of credit granted to customers		132 days	74 days	78,4%
Average length of credit obtained suppliers		105 days	79 days	32,9%
More ratios
Inventory turnover of raw materials in industrial enterprises		130 days	28 days	364,3%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	302,50 days	-
Rotation tangible assets		%	615,67%	-

Profitability of the business

		31/12/2003	Sector Median 2003
Margin trading		2,22%	0%	0%
Profitability of the business		7,53	5,20%	44,8%
Net profit		4,05%	1,52%	166,4%
More ratios
Growth rate of turnover (excluding VAT)		%	-63,53%	-
Rates integration		39,52%	34,88%	13,3%
Rate leasing furniture		0%	0%	0%
Work Factor		77,49%	77,30%	0,2%
Weight interests		2,87	0,57%	403,5%

Return on capital

		31/12/2003	Sector Median 2003
Cash flow from the overall profitability		6,66%	4,48%	48,7%
Rates of economic profitability		21%	19%	10,5%
Financial profitability		2484970%	314138%	691,0%
Return on investment		19,12%	8,38%	128,2%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2003	Sector Median 2003
Turnover	7 057 415	2 115 181 €	233,7%

Sales of goods	1 117 131
- Purchase of goods	960 480
+/- Stock of goods variation	0
Trading margin	156 651 €	0 €	0%
	2,22 % CA	0 % CA	0%

Sale of goods produced	5 940 284
+/- Stocked production	-342 415
+ Self-constructed assets	0
Period production	5 597 869 €	1 280 393 €	337,2%
	79,32 % CA	99,28 % CA	-20,1%

Trading margin	156 651	0	0%
+ Period Production	5 597 869	1 280 393	337,2%
- Purchase of raw materials	1 471 940
+/- Change in stocks of raw materiels	-25 766
- Other external purchases and charges	1 519 131
Added value	2 789 215 €	564 965 €	393,7%
	39,52 % CA	34,66 % CA	14,0%

Added value	2 789 215 €	564 965 €	393,7%
+ Operating grants	19 445
- Tax, duty and similar payments	115 988
- Personal charges	2 161 361
Gross operating surplus	531 311 €	39 435 €	1247,3%
	7,53 % CA	5,14 % CA	46,5%

Gross operating surplus	531 311 €	39 435 €	1247,3%
+ Release of reserves and provisions	182 708
+ Other operating income	432
- Depreciation/Amortisation	192 374
- Other charges	4 743
Operating result	517 334 €	20 215 €	2459,2%
	7,53 % CA	5,04 % CA	49,4%

Operating result	517 334 €	20 215 €	2459,2%
+/- Result of joint-venture transferred from/to other partners	0
+ Financial income	110 424
- Financial charges	202 274
Pre-tax result	425 484 €	16 618 €	2460,4%
	6,03 % CA	2,18 % CA	176,6%

Extraordinary income	4 964	9 034	-45,1%
- Extraordinary charges	5 042
Extraordinary result	-78 €	0 €	0%
	0,00 % CA	0 % CA	0%

Pre-tax result	425 484 €	16 618 €	2460,4%
Extraordinary result	-78 €	0 €	0%
- Employee profit sharing	27 291
- Tax on profits	112 581
Net result	285 534 €	12 622 €	2162,2%
	4,05 % CA	1,48 % CA	173,6%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Trading to Date	12/31/2003
Turnover	7,057,415 €
Gross Operating Surplus	7,53 % Turnover
Net worth	2,404,659 €
Employees	20 to 49 employees

No trends info for the company

No judgment information for the company

Establishment details

Activity (APE)	Autres intermédiaires du commerce en produits divers (4619B)	Business Pages FT®	ELECTRICITE MATERIEL PRODUCTION TRANSPORT FABRICATION
Postal Address	STE COMMERCE INTERNAT ECHANGE TECHNIQU SOCITEC 011 A 013 11 RUE D ESTIENNE D ORVES BP 33 78501 SARTROUVILLE CEDEX	Trading Address	11 RUE D ESTIENNE D ORVES 78500 SARTROUVILLE
Telephone	01 61 04 60 00
Fax	01 39 14 03 27

Type	Head office	Status	Economically active
Formation Date	05/1987	Reason for formation	Formation
Closure Date		Reason for closure	Sold
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Yvelines (78)	Region	Ile-de-France
District	3	Area	23
City	SARTROUVILLE	Size of urban area	Paris conglomeration
Other establishments

Branches		2 branch entities in this company
Head office		> STE COMMERCE INTERNAT ECHANGE TECHNIQU <<<  - Fabrication d'autres équipements automobiles (2932Z)  in SARTROUVILLE  (78500)
Secondary establishments	>  STE COMMERCE INTERNAT ECHANGE TECHNIQU  - Fabrication d'autres équipements automobiles (2932Z)  in LYON 9EME  (69009)

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce 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

20 to 49 employees

judgements

  Collective procedures | Preferential rights details and history

Collective procedures

No judgment information for the company

   Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Summary of preferential rights

Company monitored since	05/09/2008
Status of Monitoring	No social security and tax office preferential right to date

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
11/07/2004	Bodacc B	Modifications et mutations diverses
RCS Angers B 450150230 RC 03-B 727 SOCITEC-AERO. Forme : S.A.S. Activité : conception, études et développement de produits manufacturés fabrication et/ ou vente de ces produits ou de tous autres produits, de toutes matières premières ou conditionnées concernant l' industrie et l'administration ( équipement de défense). Prise, détention de participations dans toutes sociétés et bureau d'études aéronautiques. Adresse du siège social : Z.I. du Bompas, 49120 Chemillé. Commentaires : modification survenue sur l'activité suite à l'achat de la STE SOCITEC,. RCS Versailles 628 242 729 de la branche d'activité de bureau d' études aéronautiques exploité 11 rue d' Estienne-d'Orves, 78500 Sartrouville, pour lequel la STE SOCITEC est inscrite au. RCS de Versailles, moyennant le prix de 31 733 euros. Date d'effet : 1 e r janvier 2004.
29/06/2004	Bodacc B	Modifications et mutations diverses
RCS Versailles B 628242729 RC 78-B 875 SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES-SOCITEC. Forme : S.A.S.U. Capital : 800 000 euros. Activité : import-export de tous produits commerciaux et de toutes matières premières ou conditionnées. Adresse du siège social : 11-13 rue d' Estienne-d'Orves (ex-rue Marcel-Paul), 78500 Sartrouville. Commentaires : vente d'une branche d'activité de bureau d' études aéronautiques à la STE SOCITEC AERO,. RCS 450 150 230, Z.I. du Bompas, 49120 Chemillé. Date d'effet : 1 e r janvier 2004.
01/06/2004	Bodacc A	Création d'établissement
RCS B 450150230 RC AP-B 40186 SOCITEC AERO. Forme : S.A.S. Capital : 40 000 euros. Adresse du siège social : Z.I. du Bompas, 49120 Chemillé Etablissement principal: Activité : bureau d'études aéronautiques. Adresse : 11-13 rue d'Estienne-d'Orves, 78500 Sartrouville Etablissement principal acquis par achat au prix stipulé de 31 733 euros. Date d'effet : 1 e r janvier 2004. Précédent propriétaire : SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES-SOCITEC. RCS 628242729 Publication légale: Le Courrier du 12 mai 2004. Oppositions : au fonds pour la validité et la correspondance.
28/02/2003	Bodacc B	Modifications et mutations diverses
RCS Versailles B 628242729 RC 78-B 875 SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES-SOCITEC. Forme : S.A.S.U. Commentaires : modification survenue sur la forme juridique et l'administration. Administration : modification du président : BODET (Jacques). Administrateurs partants : BODET ( Pierre) DUVAL (Marc) GROUPE MULTI ENTREPRISES POUR ORGANISATION ET SPECIALISATION EN PARTENARIAT-GEMOSP, représentée par LE NORMAND (Eric).
06/06/2002	Bodacc B	Modifications et mutations diverses
RCS Versailles B 628242729 RC 78-B 875 SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES-SOCITEC. Forme : S.A. Capital : 800 000 euros. Activité : import-export de tous produits commerciaux, de toutes matières premières ou conditionnées. Adresse du siège social : 11-13 rue d' Estienne-d'Orves (ex-rue Marcel-Paul), 78500 Sartrouville. Commentaires : modification survenue sur le capital ( augmentation) et l'administration. Sociétés ayant participé à l'opération de fusion : STE SOCITEC INTERNATIONAL S. A.R.L. (fusion simplifiée) et STE GROUPEMENT FINANCIER MAZAUD-G.F.M. ( fusion normale). Administration : commissaire aux comptes titulaire partant : FOUCAULT (Jean, Paul). Commissaire aux comptes suppléant partant : CABINET FOUCAULT. Nomination d'un commissaire aux comptes suppléant : BIOTTEAU (Bruno). Nomination d'un commissaire aux comptes titulaire : STE SOREX.
07/03/2002	Bodacc A	Création d'établissement
RCS B 955515333 RC AP-B 658 ROSIER. Forme : S.A. Capital : 114 600 euros. Adresse du siège social : 13-15 rue Sigmund-Freud, 69120 Vaulx-en-Velin Etablissement principal: Activité : commercialisation de moteurs et de commandes d'axes. Adresse : 11-13 rue d' Estienne-d'Orves (ex-11-13 rue Marcel- Paul), 78500 Sartrouville Branche d' activité dépendant de l'établissement principal acquise par achat au prix stipulé de 105 400 euros. Date d'effet : 1 e r février 2002. Précédent propriétaire : SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES-SOCITEC. RCS 628242729 Publication légale: La Semaine de l'Ile- de-France du 26 février 2002. Oppositions : au fonds pour la validité et pour la correspondance.
17/05/2001	Bodacc B	Modifications et mutations diverses
RCS Versailles B 628242729 RC 78-B 875 SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES-SOCITEC. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration et administrateur partant : MAZAUD (Robert, Auguste). Nomination du P.-D.G. : BODET (Jacques). Directeur général partant : GUAY ( Géraldine). Administrateurs partants : LANTIGNY, née MAZAUD (Françoise) LANTIGNY (François). Nomination d' administrateurs : BODET (Pierre) DUVAL (Marc) GROUPE MULTI ENTREPRISES POUR ORGANISATION ET SPECIALISATION EN PARTENARIAT-GEMOSP.
23/07/2000	Bodacc B	Modifications et mutations diverses
RCS Versailles B 628242729 RC 78-B 875 SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES SOCITEC. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : administrateur partant : MAZAUD, née CHARTIER (Jeannine, Jacqueline, Gisèle). Commissaire aux comptes titulaire partant : CABINET LAFONTA S.A. Nomination du commissaire aux comptes titulaire : FOUCAULT (Jean, Paul). Commissaire aux comptes suppléant partant : DUCERF (Dominique). Nomination du commissaire aux comptes suppléant : CABINET FOUCAULT.
26/03/2000	Bodacc B	Modifications et mutations diverses
RCS Versailles B 628242729 RC 78-B 875 SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES-SOCITEC. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : modification du président du conseil d'administration et administrateur : MAZAUD (Robert, Auguste). P.-D.G. et administrateur partant : MAZAUD (Philippe). Nomination d'un administrateur : LANTIGNY ( François).
02/12/1999	Bodacc B	Modifications et mutations diverses
*. RCS Versailles B 628 242 729 RC 78-B 875 SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES - SOCITEC. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : nomination en qualité de directeur général : GUAY (Géraldine).
06/08/1995	Bodacc B	Modifications et mutations diverses
RCS Versailles B 628 242 729 RC 78-B 875 SOCIETE POUR LE COMMERCE INTERNATIONAL ET LES ECHANGES TECHNIQUES-SOCITEC. Forme : S.A. Administration : P.-D.G. et administrateur : MAZAUD (Philippe). Directeur général non administrateur : MAZAUD (Philippe, Alain). Administrateurs : MAZAUD (Auguste, Robert) MAZAUD, née CHARTIER ( Jeannine, Jacqueline, Gisèle) LANTIGNY, née MAZAUD (Françoise). Commissaire aux comptes titulaire : CABINET LAFONTA S.A. Commissaire aux comptes suppléant : DUCERF (Dominique). Commentaires : modification survenue sur l'administration.

Company events history

Date	Description
26/07/2010	Updated articles of association
26/07/2010	Amendment
22/02/2010	New ultimate parent
22/02/2010	New parent detected
31/12/2008	Update of Company Activity
31/12/2008	Modification of Company Activity
05/09/2008	Collection of preferential rights activated for this company
31/12/2003	New accounts available
13/02/2003	Changement de Forme Juridique sans changement de catégorie
13/02/2003	Changement de Président (PDG, PCA)
13/02/2003	Expédition acte notarié
13/02/2003	Nomination/démission des organes de gestion
13/02/2003	PV d'Assemblée
13/02/2003	Statuts mis à jour
13/02/2003	Rapport des Commissaires ou du Gérant
16/12/2002	Acte sous seing privé
16/12/2002	Rapport des Commissaires ou du Gérant
22/05/2002	Acte sous seing privé
22/05/2002	Changement de Commissaire aux Comptes
22/05/2002	Déclaration de conformité
22/05/2002	Augmentation de Capital
22/05/2002	Nomination/démission des organes de gestion
22/05/2002	Fusion
22/05/2002	PV d'Assemblée
22/05/2002	Réduction de Capital
22/05/2002	Statuts mis à jour
20/12/2001	Rapport des Commissaires ou du Gérant
20/12/2001	Acte sous seing privé
29/11/2001	Projet de Fusion
29/11/2001	Acte modificatif
29/11/2001	Acte sous seing privé
20/11/2001	Requête et Ordonnance
02/05/2001	Acte sous seing privé
02/05/2001	Modification du Conseil d'Administration
02/05/2001	Changement de Président (PDG, PCA)
02/05/2001	PV du Conseil d'Administration
02/05/2001	PV d'Assemblée
02/05/2001	Nomination/démission des organes de gestion
06/07/2000	Acte sous seing privé
06/07/2000	PV d'Assemblée
06/07/2000	Nomination/démission des organes de gestion
06/07/2000	PV du Conseil d'Administration
06/07/2000	Modification du Conseil d'Administration
06/07/2000	Changement de Commissaire aux Comptes
13/03/2000	Changement de Président (PDG, PCA)
13/03/2000	Modification du Conseil d'Administration
13/03/2000	Nomination/démission des organes de gestion
13/03/2000	Acte sous seing privé
13/03/2000	PV du Conseil d'Administration
13/03/2000	PV d'Assemblée
17/11/1999	Nomination/démission des organes de gestion
17/11/1999	Modification du Conseil d'Administration
17/11/1999	Acte sous seing privé
17/11/1999	PV du Conseil d'Administration
20/07/1995	PV du Conseil d'Administration
20/07/1995	PV d'Assemblée
20/07/1995	Nomination/démission des organes de gestion
20/07/1995	Modification du Conseil d'Administration
20/07/1995	Changement de Président (PDG, PCA)
20/07/1995	Acte modificatif
15/07/1994	Acte modificatif
15/07/1994	PV d'Assemblée
15/07/1994	Statuts mis à jour
22/07/1993	PV du Conseil d'Administration
22/07/1993	Acte modificatif
22/07/1993	PV d'Assemblée
12/02/1993	Acte modificatif
12/02/1993	Statuts mis à jour
12/02/1993	PV d'Assemblée
12/02/1993	Déclaration de conformité
24/12/1992	PV du Conseil d'Administration
24/12/1992	Acte modificatif

Establishment events history

Date	Description
03/09/2010	Update Rating
28/07/2010	Update Rating
13/01/2010	Update Rating
29/12/2009	Update Rating
20/09/2009	Update of phone numbers
31/12/2008	Modification of Head office
03/07/2008	Update Rating
16/12/2007	Update Limit
11/12/2007	Update Limit
07/12/2007	Update Limit

NOTES & COMMENTS

Please complete

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.78
UK Pound	1	Rs.73.43
Euro	1	Rs.65.27

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.