MIRA INFORM REPORT

Report Date :

30.05.2012

IDENTIFICATION DETAILS

Name :	CLARIANT IBERICA PRODUCCION SA
Formerly Known As :	Clariant Iberica SA
Registered Office :	C/ Cal Coracero, 46-56, El Prat De Llobregat, 08820
Country :	Spain
Financials (as on) :	31.12.2010
Year of Establishment :	1994
Com. Reg. No.:	A60597473
Legal Form :	Public Subsidiary Company
Line of Business :	Manufacture of chemicals, organic dyes and pigments for use in the plastics, paint, leather and textile industries
No. of Employees :	459

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2000000
Status :	Good
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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Spain	a2	a2

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

Company name & address

Clariant Iberica Produccion Sa

C/ Cal Coracero, 46-56

El Prat De Llobregat, 08820

Spain

Tel: +(34) 934798200

Fax: +(34) 934798211

Web: www.clariant.es

synthesis

Employees: 459

Company Type: Public Subsidiary

Corporate Family: 113 Companies

Ultimate Parent: Clariant AG

Incorporation Date: 1994

Auditor: Pricewaterhousecoopers Auditores Sl

Financials in: USD (Millions)

Fiscal Year End: 30-Nov-2011

Reporting Currency: Euro

Annual Sales: 301.3 1

Net Income: 1.6

Total Assets: 160.5

Business Description

Manufacture of chemicals, organic dyes and pigments for use in the plastics, paint, leather and textile industries

Industry

Industry Chemical Manufacturing

ANZSIC 2006: 1812 - Basic Organic Chemical Manufacturing

NACE 2002: 2414 - Manufacture of other organic basic chemicals

NAICS 2002: 325192 - Cyclic Crude and Intermediate Manufacturing

UK SIC 2003: 2414 - Manufacture of other organic basic chemicals

US SIC 1987: 2865 - Cyclic Organic Crudes and Intermediates, and organic Dyes and Pigments

Key Executives

Name	Title
Jakob Wyss Hans	Managing Director
Ulrich Ott	Presidente
Garcia Sara	Financial Director
Jose Maria Batista Mur	Secretario
Lluis Olivera	Director General

Corporate Overview

Location

C/ Cal Coracero, 46-56

El Prat De Llobregat, 08820

Spain

Tel: +(34) 934798200

Fax: +(34) 934798211

Web: www.clariant.es

Sales EUR(mil): 216.6

Assets EUR(mil): 119.2

Employees: 459

Fiscal Year End: 30-Nov-2011

Industry: Chemical Manufacturing

Incorporation Date: 1994

Company Type: Public Subsidiary

Quoted Status: Not Quoted

Previous Name : Clariant Iberica SA

Registered No.(ESP): A60597473

Director General: Lluis Olivera

Contents

Industry Codes

Business Description

Financial Data

Branch Offices

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:

1812 - Basic Organic Chemical Manufacturing

3323 - Industrial and Agricultural Chemical Product Wholesaling

1813 - Basic Inorganic Chemical Manufacturing

NACE 2002 Codes:

5155 - Wholesale of chemical products

2412 - Manufacture of dyes and pigments

2414 - Manufacture of other organic basic chemicals

NAICS 2002 Codes:

325131 - Inorganic Dye and Pigment Manufacturing

424690 - Other Chemical and Allied Products Merchant Wholesalers

325199 - All Other Basic Organic Chemical Manufacturing

325192 - Cyclic Crude and Intermediate Manufacturing

US SIC 1987:

2816 - Inorganic Pigments

5169 - Chemicals and Allied Products, Not Elsewhere Classified

2869 - Industrial Organic Chemicals, Not Elsewhere Classified

2865 - Cyclic Organic Crudes and Intermediates, and organic Dyes and Pigments

UK SIC 2003:

5155 - Wholesale of chemical products

2412 - Manufacture of dyes and pigments

2414 - Manufacture of other organic basic chemicals

Business Description

Manufacture of dyes and pigments

More Business Descriptions

Manufacture of chemicals, organic dyes and pigments for use in the plastics, paint, leather and textile industries

All Other Chemical Product and Preparation Manufacturing

Financial Data

Financials in:	EUR(mil)
Revenue:	216.6
Net Income:	1.2
Assets:	119.2
Current Assets:	69.5
Fixed Assets:	49.7
Long Term Debt:	0.2
Total Liabilities:	119.2
Issued Capital:	6.0
Net Worth:	34.4
Date of Financial Data:	30-Nov-2011

1 Year Growth

64.1%

NA

NA

Branch Offices

Location
Calle Alemanya 18 ( Pol Ind Comes )
Igualada, 08700

Tel: +(34) 938048030

Location
Calle Pratenc-Cent Setze S/N
Prat De Llobregat (El), 08820

Tel: +(34) 934798200

Location
Calle Doctor Esquerdo 37 5 B
Madrid, 28028

Location
Ctra Caravaca (De) S/N
Lorca, 30817

Tel: +(34) 968441929

Location
Calle Tarragona (De) 38
Vila-Seca, 43480

Tel: +(34) 977307600

Location
Avda Ovidi Montllor 5
*Diseminado*, 46960

Tel: +(34) 961517534

Location
Calle Padre Viñas 36
Valencia, 46019

Tel: +(34) 963689095

Location
Calle Club 2
Las Arenas - Areeta, 48930

Tel: +(34) 944802786

Key Corporate Relationships

Auditor:	Pricewaterhousecoopers Auditores Sl
Bank:	Caja De Ahorros Y M.P. De Navarra
Auditor:	Pricewaterhousecoopers Auditores Sl

Corporate Family	Corporate Structure News:
	Clariant AG Clariant Iberica Produccion Sa
Clariant Iberica Produccion Sa Total Corporate Family Members: 113 Excluded Small Branches and/or Trading Addresses: 16 (Available via export)

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Clariant AG	Parent	Muttenz	Switzerland	Chemical Manufacturing	8,309.7	22,149
Clariant Finanz AG	Subsidiary	Muttenz	Switzerland	Business Services		21,338
Sued-Chemie AG	Subsidiary	Muenchen	Germany	Chemical Manufacturing	1,622.3	6,573
Recently acquired (previously owned by Sued-Chemie AG).See corporate structure news on Clariant AG for details
Süd-Chemie SA (Pty) Ltd	Subsidiary	Halfway House	South Africa	Chemical Manufacturing		400
Airsec	Subsidiary	Choisy Le Roi	France	Fabricated Plastic and Rubber	79.8	301
Sud-Chemie SA Pty Ltd	Subsidiary	Halfway House	South Africa	Metal Mining	60.0	200
Süd Chemie de México, S.A. de C.V.	Subsidiary	Puebla, Puebla	Mexico	Chemical Manufacturing	36.2	175
Sued Chemie Catalysts Italia SRL	Subsidiary	Novara, Novara	Italy	Miscellaneous Capital Goods	35.3	72
Societa Sarda di Bentonite SRL	Subsidiary	Santa Giusta, Oristano	Italy	Construction - Raw Materials	27.3	57
Sud Chemie Imic Italia SRL	Subsidiary	Silvano Pietra, Pavia	Italy	Construction - Supplies and Fixtures	3.1	5
Süd-Chemie Zeolites GmbH	Subsidiary	Bitterfeld, Sachsen-Anhalt	Germany	Chemical Manufacturing	16.5	52
Bentofrance	Subsidiary	Portes Les Valence	France	Chemical Manufacturing	14.8	14
Sud-Chemie-France	Subsidiary	Choisy Le Roi	France	Miscellaneous Financial Services	2.3	14
Societe Francaise De Bentonites Derive	Subsidiary	Le Treport	France	Chemical Manufacturing	23.3	74
Süd-Chemie España S.L.	Subsidiary	Yuncos(Toledo)	Spain	Chemical Manufacturing
Clariant International AG	Subsidiary	Muttenz, Basle Country	Switzerland	Chemical Manufacturing	6,749.9	3,000
Clariant S.A.	Subsidiary	São Paulo, SP	Brazil	Biotechnology and Drugs	870.8	1,665
Clariant Chemicals (India) Ltd.	Subsidiary	Thane	India	Chemical Manufacturing	214.6	837
Clariant Indonesia, PT	Subsidiary	Kecamantan Cibodas, Tangerang	Indonesia	Miscellaneous Capital Goods	202.0	750
Sandi Aneka Warna Pt	Subsidiary	Jakarta Barat, Jakarta Barat	Indonesia	Chemical Manufacturing		210
Clariant Masterbatches (Deutschland) GmbH	Subsidiary	Lahnstein	Germany	Chemical Manufacturing	210.2	550
Clariant Masterbatches Italia SpA	Subsidiary	Milano, MI	Italy	Chemical Manufacturing	201.8	404
Clariant Boya Ve Kimyaevi Maddeler San Ve Tic AS	Subsidiary	Istanbul, Istanbul	Turkey	Chemical Manufacturing	108.0	350
Clariant Argentina S.A.	Subsidiary	Lomas De Zamora, Buenos Aires	Argentina	Miscellaneous Capital Goods	104.7	276
Clariant Chemicals (China) Ltd	Subsidiary	New Territories, New Territories	Hong Kong	Miscellaneous Capital Goods	77.0	200
Clariant (Venezuela) S.A.	Subsidiary	Maracay, Aragua	Venezuela	Biotechnology and Drugs		200
Clariant Colombia S.A.	Subsidiary	Cota, Cundinamarca	Colombia	Chemical Manufacturing	81.5	150
Clariant Prodotti Italia SpA	Subsidiary	Paderno Dugnano, Milano	Italy	Chemical Manufacturing	244.8	143
Clariant Colorquimica (Chile) Ltda.	Subsidiary	Maipú	Chile	Chemical Manufacturing		120
Clariant-Tamimi Co	Subsidiary	Al-Khobar, Ash Sharqiyah	Saudi Arabia	Oil and Gas Operations	35.0	100
Clariant (Egypt) SAE	Subsidiary	Cairo	Egypt	Miscellaneous Capital Goods	33.0	100
Clariant Consulting AG	Subsidiary	Moscow	Russian Federation	Miscellaneous Capital Goods	31.0	100
Clariant (Philippines) Corporation	Subsidiary	Legaspi Village, Makati	Philippines	Chemical Manufacturing	8.0	100
Clariant Masterbatches (Thailand) Ltd	Subsidiary	Ampur Phantong, Chon Buri	Thailand	Chemical Manufacturing	1.0	100
Clariant Italia S.P.A.	Subsidiary	Paderno Dugnano, Milano	Italy	Business Services	9.0	95
Italtinto SRL	Subsidiary	Carasco, Genova	Italy	Chemical Manufacturing	9.4	23
Clariant Southern Africa (Pty) Ltd	Subsidiary	Weltevreden Park, Gauteng	South Africa	Chemical Manufacturing		50
Clariant Corp	Division	Millington, MD	United States	Chemicals - Plastics and Rubber	48.5	45
Clariant Distribuzione (Italia)	Subsidiary	Palazzolo Milanese	Italy	Chemical Manufacturing	1.0	15
Sapiens doo	Branch	Zagreb	Croatia	Chemical Manufacturing
Clariant Distribucija SL doo	Branch	Ljubljana	Slovenia	Chemical Manufacturing
Clariant Consulting Ltd	Branch	Kyiv	Ukraine	Chemical Manufacturing
Clariant (Hellas) SA	Subsidiary	Athens	Greece	Chemical Manufacturing
Clariant Consulting SA	Subsidiary	Edificio Sanofi Aventis, Santo Domingo	Dominican Republic	Chemical Manufacturing
Clariant (Taiwan) Co Ltd	Subsidiary	Taipei	Taiwan	Chemical Manufacturing
Clariant Distribucija SL doo	Subsidiary	Ljubljana	Bosnia and Herzegovina	Chemical Manufacturing
Clariant Corporation	Subsidiary	Charlotte, NC	United States	Fabricated Plastic and Rubber		1,200
Clariant Corp	Branch	Martin, SC	United States	Chemicals - Plastics and Rubber	296.2	275
Clariant Corp	Branch	Mt Holly, NC	United States	Chemical Manufacturing	123.2	220
Clariant Corp	Branch	Branchburg, NJ	United States	Chemical Manufacturing	101.6	185
Clariant Corp	Branch	Charlotte, NC	United States	Chemical Manufacturing	120.1	120
Clariant Corp	Branch	Albion, MI	United States	Chemicals - Plastics and Rubber	107.7	100
Clariant Corp	Branch	Minneapolis, MN	United States	Chemicals - Plastics and Rubber	96.9	90
Clariant (Canada) Inc	Subsidiary	Saint-Laurent, QC	Canada	Chemical Manufacturing		50
Clariant Canada Inc	Branch	Etobicoke, ON	Canada	Chemical Manufacturing	56.4	60
Clariant Corp	Branch	Phoenix, AZ	United States	Chemicals - Plastics and Rubber	43.1	40
Clariant Corp	Branch	Winchester, VA	United States	Chemical Manufacturing	25.0	25
Clariant Corp	Branch	Taft, CA	United States	Construction Services	5.0	25
Clariant Corp	Branch	Lewiston, ME	United States	Fabricated Plastic and Rubber	24.0	20
Clariant Corp	Branch	Dalton, GA	United States	Chemical Manufacturing	14.6	20
Clariant (México), S.A. de C.V.	Subsidiary	Ecatepec de Morelos, Estado de México	Mexico	Chemical Manufacturing	198.7	560
Clariant Indonesia, P.T.	Subsidiary	Tangerang	Indonesia	Chemical Manufacturing	1.0	500
Clariant Specialty Fine Chemicals	Subsidiary	Trosly Breuil	France	Chemical Manufacturing	177.6	466
Clariant Iberica Produccion Sa	Subsidiary	El Prat De Llobregat, Barcelona	Spain	Chemical Manufacturing	301.3	459
Clariant Pakistan Limited	Subsidiary	Karachi	Pakistan	Chemical Manufacturing	96.9	353
Clariant (Thailand) Ltd	Subsidiary	Klongton, Klongtoey, Bangkok	Thailand	Chemical Manufacturing	60.0	350
Clariant Chemicals (China) Ltd	Subsidiary	Shanghai, Shanghai	China	Chemical Manufacturing	65.0	200
Clariant Chemicals Co Ltd	Subsidiary	Bangkok, Bangkok	Thailand	Chemical Manufacturing		175
Clariant Verwaltungsgesellschaft mbH	Subsidiary	Sulzbach	Germany	Chemical Manufacturing	27.8	170
Clariant Verwaltungsgesellschaft mbH	Subsidiary	Sulzbach	Germany	Chemical Manufacturing	1.0	390
Clariant Pigments (Korea) Limited	Subsidiary	Ulsan	Korea, Republic of	Chemical Manufacturing	43.4	155
Clariant (China) Limited	Subsidiary	Hong Kong	Hong Kong	Chemical Manufacturing	1.0	150
Clariant Masterbatches Benelux Sa/Nv	Subsidiary	Louvain-La-Neuve	Belgium	Chemical Manufacturing	51.3	101
ColorWorks Boston	Subsidiary	Holden, MA	United States	Chemical Manufacturing	107.7	100
Clariant Corp	Branch	West Chicago, IL	United States	Chemicals - Plastics and Rubber	12.3	60
Clariant (Gulf) FZE	Subsidiary	Dubai	United Arab Emirates	Oil and Gas Operations	38.0	100
Clariant (Malaysia) Sdn Bhd	Subsidiary	Shah Alam, Selangor	Malaysia	Chemical Manufacturing	18.0	100
Clariant (Guatemala) S.A.	Subsidiary	Ciudad de Guatemala	Guatemala	Chemical Manufacturing		81
Clariant (Österreich) GmbH	Subsidiary	Wien	Austria	Chemical Manufacturing	21.4	65
Clariant New Zealand	Subsidiary	Albany	New Zealand	Chemical Manufacturing	37.5	54
Clariant (Australia) Pty Ltd	Subsidiary	Glen Waverley, VIC	Australia	Chemical Manufacturing	48.6	45
Clariant (Singapore) Pte Ltd	Subsidiary	Singapore	Singapore	Chemical Manufacturing	38.7	35
CLARIANT OIL SERVICES SCANDINAVIA AS	Subsidiary	Bergen, Hordaland	Norway	Chemical Manufacturing	38.2	32
Prairie Petro-Chem LTD	Subsidiary	Estevan, SK	Canada	Chemical Manufacturing	40.0	30
Clariant Chemicals (Taiwan) Co.	Subsidiary	Taipei	Taiwan	Chemical Manufacturing	1.0	23
Clariant Hungaria KFT	Subsidiary	Budapest	Hungary	Chemical Manufacturing		20
Clariant Italia S.p.A.	Subsidiary	Paderno Dugnano	Italy	Chemical Manufacturing	350.0
Clariant France S.A.S	Subsidiary	Paris La Defense Cedex	France	Chemical Manufacturing	250.0
Clariant (Deutschland) GmbH	Subsidiary	Frankfurt am Main	Germany	Chemical Manufacturing	175.0
Clariant Finland Oy	Subsidiary	Vantaa	Finland	Biotechnology and Drugs	125.0
Clariant (Korea) Ltd	Subsidiary	Seoul	Korea, Republic of	Chemical Manufacturing	15.2
Clariant (Tianjin) Ltd.	Subsidiary	Tianjin	China	Chemical Manufacturing	1.0
Clariant (Japan) KK	Subsidiary	Tokyo	Japan	Chemical Manufacturing	1.0
Clariant Polymers Kk	Subsidiary	Minato-ku, Tokyo	Japan	Chemical Manufacturing		160
Clariant (Turkiye) A.S.	Subsidiary	Sefaköy	Turkey	Chemical Manufacturing
Clariant (Perú) S.A.	Subsidiary	Lima	Peru	Chemical Manufacturing
Clariant Consulting Ltd.	Subsidiary	Moscow	Russian Federation	Chemical Manufacturing

Executvie report

Board of Directors

Name	Title	Function
Ulrich Ott	Presidente	Chairman
Stephan Lynnen	Member Of The Board	Director/Board Member
Christian Munch Alfred	Consejero	Director/Board Member

Executives

Name	Title	Function
Jakob Wyss Hans	Managing Director	Chief Executive Officer
Engl Werner	Managing Director	Chief Executive Officer
Ulrich Ott	Presidente	President
Juan Carlos Escudero	Director Div Textile, Cuero y Papel	Division Head Executive
José MarÃa Pina	Director División Masterbatches	Division Head Executive
José Luis Posada	Director Div Pigmentos y Aditivos	Division Head Executive
Josep Reguan	Director Div Textile, Cuero y Papel	Division Head Executive
Lluis Olivera	Director General	Managing Director
Jose Maria Batista Mur	Secretario	Administration Executive
Garcia Sara	Financial Director	Finance Executive
Ros Jordi	Human Resources Manager	Human Resources Executive
Jordi Ros	Director de Recursos Humanos	Human Resources Executive
Servicios Sl Clariant Iberica	Single Partner	Partner

Annual Profit & Loss

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate (Period Average)	0.755078	0.719047	0.683679
Consolidated	No	No	No
Charges	297.8	196.5	266.0
Stock Reduction	-	5.9	-
Supplies	199.1	98.7	153.7
Goods Consumption	81.1	11.0	13.7
Consumption of Raw Materials	114.1	84.0	133.0
Miscellaneous External Expenditures	3.8	3.7	6.9
Staff Costs	39.8	50.4	53.6
Wages and Salaries	30.7	41.5	42.5
Social Security Costs	9.1	8.9	11.1
Depreciation	7.7	8.1	8.4
Allowance for Trade Operations	0.1	-0.1	0.4
Stock Provision Variation	0.1	-0.1	0.4
Losses from Unrecovered Receivables	0.0	0.0	0.0
Other Operating Charges	50.3	31.4	41.0
External Services	47.0	29.0	36.7
Taxes	2.9	2.4	2.7
Other Operating Expenses	0.4	0.0	1.5
Operating Benefits	2.4	0.6	11.5
Financials and Similar Charges	0.5	0.5	1.8
Due to Liabilities With Group Companies	0.2	0.4	1.5
Due to Other Liabilities	0.3	0.2	0.3
Exchange Losses	0.3	0.1	0.5
Profit From Ordinary Activities	1.7	-	9.1
Changes in Provisions for Assets	-1.2	2.0	3.2
Losses From Assets and Securities Portfolio	0.3	0.2	1.3
Extraordinary Profit	0.9	-	-
Profit Before Taxes	2.5	-	4.6
Corporation Tax	1.0	-0.8	2.1
Financial Year Result (Profit)	1.5	-	2.5
Income	299.3	195.0	268.5
Net Total Sales	286.9	193.8	263.1
Sales	276.4	176.9	240.8
Rendering of Services	10.9	17.2	22.6
Sales Refunds	-0.4	-0.3	-0.4
Increase in Stocks	11.1	-	0.1
Works Performed for Fixed Assets	0.7	0.4	0.4
Miscellaneous Operating Income	0.6	0.8	4.9
Auxiliary Income From Current Management	0.5	0.4	3.9
Charges for Provisions	0.1	0.4	1.0
Income From Equity Investment	0.0	-	-
In Group Companies	0.0	-	-
Income From Miscellaneous Interests	0.0	0.0	0.0
From Group Companies	-	0.0	0.0
Miscellaneous Interests	0.0	-	-
Negative Financial Results	0.7	0.6	2.3
Ordinary Activities' Losses	-	0.0	-
Negative Extraordinary Results	-	2.2	4.5
Losses Before Taxes	-	2.3	-
Financial Year Result (Losses)	-	1.5	-

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.745406	0.696986	0.719399
Consolidated	No	No	No
Software	0.0	0.1	-
Payments on Account	0.5	-	0.0
Total Intangible Fixed Assets	0.5	0.1	0.0
Land and Construction	40.4	45.5	44.2
Technical Installations and Machinery	10.7	13.0	14.5
Other Installations, Tools, and Furniture	0.2	0.3	0.3
Tangible Fixed Assets Under Construction	14.6	2.7	8.5
Other Tangible Assets	0.0	0.0	0.1
Total Tangible Fixed Assets	65.9	61.5	67.5
Investments in Group Companies	0.2	0.2	0.2
Long-Term Guarantees and Deposits	0.1	0.1	0.1
Financial Investments	0.3	0.4	0.4
Total Fixed Assets	66.7	62.0	67.9
Goods for Resale	5.6	0.4	0.5
Raw Materials and Other Consumables	14.8	8.4	14.1
Goods in Process	5.1	4.1	8.1
Finished Products	11.2	1.4	2.9
Payments on Account	0.0	0.0	0.0
Total Stocks	36.6	14.3	25.6
Trade Debtors	19.7	-	0.0
Receivables, Group Companies	16.4	21.7	24.1
Other Debtors	0.8	0.4	0.5
Staff	0.1	0.2	0.1
Public Bodies	19.5	8.7	7.2
Total Debtors	56.4	31.0	31.9
Other Receivables	0.1	-	-
Short-Term Guarantees and Deposits	0.1	0.0	0.0
Total Short-Term Investments	0.2	0.0	0.0
Cash	0.1	0.4	0.0
Prepayments and Accrued Income	0.0	-	0.1
Total Current Assets	93.3	45.8	57.6
Total Assets	160.0	107.8	125.6
Legal Reserve	1.6	1.7	1.7
Miscellaneous Reserves	35.8	33.7	32.6
Total Reserves	37.4	35.4	34.3
Prior Year Losses	-1.0	-	-
Profit or Loss Brought Forward	-1.0	-	-
Profit or Loss for the Financial Year	1.6	-1.5	2.4
Total Equity	46.1	42.5	45.1
Provisions for Pension Fund	2.1	2.2	2.4
Other Provisions	1.0	1.2	1.8
Total Provisions for Liabilities and Charges	3.1	3.4	4.1
Long-Term Guarantees and Deposits Received	0.2	0.2	0.2
Long-Term Payables to Public Bodies	-	-	0.1
Total Other Creditors	0.2	0.2	0.3
Total Long Term Liabilities	0.2	0.2	0.3
Loans and Other Liabilities	-	-	0.0
Total Amounts Owed to Credit Institutions	-	-	0.0
Amounts Owed to Group Companies	55.1	19.7	36.2
Total Short-Term Amounts Owed to Group and Associa	55.1	19.7	36.2
Advanced Payments from Customers	0.7	0.4	0.4
Amounts Owed for Purchases of Goods or Services	48.7	32.1	32.5
Total Trade Creditors	49.4	32.5	33.0
Public Bodies	1.4	2.3	2.8
Wages and Salaries Payable	3.7	6.8	3.6
Total Other Creditors	5.2	9.0	6.4
Total Short Term Creditors	109.7	61.2	75.7
Short Term Provisions for Liabilities and Charges	0.8	0.4	0.4
Total Liabilities and Equity	160.0	107.8	125.6

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.58
UK Pound	1	Rs.87.14
Euro	1	Rs.69.73

INFORMATION DETAILS

Report Prepared by :

MNL

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

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.