MIRA INFORM REPORT

Report Date :

07.05.2011

IDENTIFICATION DETAILS

Name :	VENROD TRADING COMPANY INC

Registered Office :	Caparra Heigh Station-San Juan-Puerto Rico-PR 00922

Country :	Puerto Rico

Year of Establishment :	2001

Legal Form :	Company INC

Line of Business :	Import and sale and alcoholic beverages food

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Puerto Rico

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

Registered Name

VENROD TRADING COMPANY INC

Summary

COMPANY ESTABLISHED IN THE YEAR 2001.INICIADORA OF ACTIVITIES TO DEVELOP THIS. ACCOUNTING not to supply. REGISTRATION NO NEGATIVE HISTORY. SUITABLE FOR MODERATE CREDITS.

Operations

> ALCOHOLIC BEVERAGES
> FOOD
> IMPORT AND SALE

Legal Structure

Legal Business: Company INC
Incorporated: 2001
Duration: Unlimited
End of fiscal yr: 31/12

Contact

Mrs; NAYDA SAURI
(Administration )

Operative address: Caparra Heigh Station-San Juan-Puerto Rico-PR 00922
Phone:(1-787)792-8600

Partners

> PRESIDENT RODRIGUEZ WALDEMAR

Use of firm name mentioned by the unique character of the company's legal representative.

History

Company established in 2001 by its current owner, social aims importation and marketing of food and beverage products for further marketing.

Economic-Financial Position

Requested accounting items, we are told that they are of a confidential nature, suggesting that its annual sales hover around the u $ s concept 6,000,000

Assets

BUILDINGS:
Assigned to the investigation the property it occupies at the address listed above, stating that it is exempt from taxes

Commercial References Consulted

> JIANG MEN PLASTICS CHINA
> BODEGAS Y VIÑEDOS SANTA ANA ARGENTINA

Credits for periods of 30/45 days, normal compliance.

Evolution and Results

The social aims above, the import and marketing of packaged food products, and strong alcoholic beverages.
Sales channels through the wholesale market, covering the entire country, not venturing into the export market. All activities are conducted from home operating, which have adequate infrastructure for such purposes. Supported the workforce by 40 employees, distributed in areas of administration, sales, packaging and logistics.

FOREIGN TRADE:
In the last registration period imports from CHINA-USA-ARGENTINA-INDIA.

INSURANCE:
------------------
* MAPFRE INC

* EMPLOYEES 40

Payment Record and Credit Risk

> BCO. BILBAO VIZCAYA ARGENTARIAS Principal oficce

RETURNED CHECKS ARE NOT REGISTERED IN THE NAME OF THE COMPANY
BANKING SITUATION NORMAL

Concept

Operates within established deadlines, no default record and / or significant complications in commercial credit suppliers, or delays in banks.

> NORMAL COMPLIANCE

Final Opinion

For all these reasons we consider viable treatment with the same credit, credit granting moderate to interest large credit line to adopt additional safeguards suggest that endorse this operation.

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%)

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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.