MIRA INFORM REPORT

Report Date :

20.04.2012

IDENTIFICATION DETAILS

Name :	FERNANDEZ ESCUDERO ADA EVA

Registered Office :	Calle Sardenya, 59, 08917 Badalona Barcelona

Country :	Spain

Date of Incorporation :	01.01.2004

Legal Form :	Sole Proprietor

Line of Business :	Leather industry: travel accessories

No. of Employees :	2

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	5.000,00 €

Status :	Small Company

Payment Behaviour :	No Complaints

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 – September 30, 2011

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Spain

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

COMPANY NAME

FERNANDEZ ESCUDERO ADA EVA

CIF/NIF: 38105168X

Company situation: Active

Identification

Current Business Name: FERNANDEZ ESCUDERO ADA EVA

Commercial name: ADAPELL

Other names: NO

Current Address: CALLE SARDENYA, 59, 08917 BADALONA BARCELONA

Telephone number: 933882473

Fax: 933882123

Corporate e-mail: adapell@telefonica.net

Trade Risk

Credit appraisal: 5.000,00 €

Incidents: No incidences registered

Financial Information

Latest sales known (2011): 150.000,00 € (Estimated)

Balance sheet latest sales : For its legal form the subject has no obligation to present its financial Commercial Registry.

Share capital: It does not proceed to provide this kind of information due to the legal form of the subject

Employees: 2

Listed on a Stock Exchange: NO

Commercial Information

Activity beginning date: 01/01/2004

Activity: Leather industry: travel accessories

NACE 2009 CODE: 1512

International Operations: Imports

Corporate Structure

It does not proceed to provide this kind of information due to the legal form of the subject

Other Complementary Information

Latest act published in BORME: For its legal form the subject has no obligation to be registered nor to present its financial statement in the Commercial Registry, even if, exceptionally, could have had some proceedings published in BORME for this kind of legal form.

Latest press article: No press articles registered

TRADE RISK

Credit appraisal

Maximum Credit

(from 0 to 6,000,000 €)

Favourable to 5.000,00 €

Performance

Incidents	None or Negligible
Business Trajectory	Good

Rating Explication

Company Structure

The company’s capitalization degree determines that its structure is weak.

The company’s size is very small depending on its sales volume.

Performance and Incidences

He have detected no recent legal actions or claims from the Administration against this company

INCIDENTS

Summary

LEGAL ACTIONS: No legal actions registered

ADMINISTRATIVE CLAIMS: No administrative claims registered

AFFECTED BY: No significant element.

FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE

FINANCIAL ELEMENTS

Main Financial Elements

Figures given in €

2011

ESTIMATED

PROFIT AND LOSS ACCOUNT ANALYSIS

SALES

150.000,00

Estimated Balance Sheet

Source: Own Sources (2011)

Figures given in €

ACTIVO		PASIVO
Non current assets	24.000,00	Net worth	36.000,00
Tangible fixed assets	24.000,00	Equity	36.000,00
Current assets	28.000,00	Liabilities	16.000,00
Treasury	3.000,00	Non current liabilities
Stocks	25.000,00	Current liabilities	16.000,00
Total Assets	52.000,00	Total Net Worth and Liabilities	52.000,00

ADDRESSES

Business address

Current Legal Seat Address:

CALLE SARDENYA, 59

08917 BADALONA BARCELONA

Previous Seat Address:

CALLE SANTIAGO 47 - BJ DR

08918 BADALONA BARCELONA

Characteristics of the current address

Type of establishment: warehouse

Owners: rented

Local Situation: secondary

CORPORATE STRUCTURE

It does not proceed to provide this kind of information due to the legal form of the subject

BUSINESS INFORMATION

Constitution

Activity beginning date: 01/01/2004

Origin / Foundation

Establishment date: 01/01/2004

Activity

Code: 1442100

Activity: Leather industry: travel accessories

NACE 2009 CODE: 1512

NACE 2009 Activity: Manufacture of luggage, handbags and the like, saddlery and harness

Activity description: VENTA DE ARTICULOS DE MARROQUINERIA,BOLSOS.

Employees

Latest employees figure: 2 (2009)

% of fixed employees: 100,00%

COMMERCIAL OPERATIONS

PURCHASES

Imports from: INDIA Y CHINA

SALES

National Distribution: 100%

Banks

ENTITY	BRANCH	ADDRESS	TOWN OR CITY	PROVINCE
BANCO POPULAR ESPAÑOL, S.A.			BADALONA

LEGAL STRUCTURE

Constitution Data

Register Date: 01/01/2004

Current structure data

Legal form: Sole Proprietor

Share capital: It does not proceed to provide this kind of information due to the legal form of the subject

Legal Aspects

Obligation to fill in Financial Statements: NO

Chamber census: YES (2010)

B.O.R.M.E. (Official Gazette of the Commercial Registry)

For its legal form the subject has no obligation to be registered nor to present its financial statement in the Commercial Registry, even if, exceptionally, could have had some proceedings published in BORME for this kind of legal form.

Press articles

No press articles registered

Complementary Information

Employees

El negocio emplea a1 trabajadores, además del titular

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.89
UK Pound	1	Rs.83.18
Euro	1	Rs.68.06

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.