MIRA INFORM REPORT

Report Date :

30.05.2013

IDENTIFICATION DETAILS

Name :	EURAMAX COATED PRODUCTS LIMITED
Formerly Known As :	ALUMAX COATED PRODUCTS U.K. LIMITED
Registered Office :	Brunel Road Earlstrees Industrial Estate Corby NN17 4JW
Country :	United Kingdom
Financials (as on) :	30.12.2011
Date of Incorporation :	18.05.1965
Com. Reg. No.:	00849254
Legal Form :	Private limited with Share Capital
Line of Business :	Treatment and Coating of Metals
No. of Employees :	76

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

Status :	Satisfactory
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, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
United Kingdom	A1	A1

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

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase.

Source : CIA

Company name and address Top of Form

Company Name	EURAMAX COATED PRODUCTS LIMITED	Company Number	00849254
Registered Address	BRUNEL ROAD	Trading Address	Brunel Road Earlstrees Industrial Estate Corby Northamptonshire NN17 4JW
	EARLSTREES INDUSTRIAL ESTATE
	CORBY
	NN17 4JW
Website Address	http://www.euramax.eu
Telephone Number	01536400800	Fax Number
TPS	No	FPS	No
Incorporation Date	18/05/1965	Company Status	Active - Accounts Filed
Previous Name	ALUMAX COATED PRODUCTS U.K. LIMITED	Type	Private limited with Share Capital
Date of Change	24/09/1996	Filing Date of Accounts	28/09/2012
		Share Capital	£1,000,000
SIC03	2851	Currency	GBP
SIC03 Description	Treatment and coat metals
SIC07	25610
SIC07 Description	TREATMENT AND COATING OF METALS
Principal Activity	Manufacture of pre-coated aluminium coil, sheets and panels for the caravan, system building, and general engineering industries.

Accounts Due Date 30/09/2013

Commentary

No exact match CCJs are recorded against the company.
Sales in the latest trading period increased 18% on the previous trading period.
Net Worth increased by 105% during the latest trading period.
A 20% decline in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 395.8% compared to the previous trading period.
The company saw an increase in their Cash Balance of 0.5% during the latest trading period.
The audit report contains no adverse comments.
The company has undergone recent changes in its directorships.
The company is part of a group.
The company was established over 47 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
30/12/2011	£35,564,000	£6,570,000	£254,000	76
31/12/2010	£30,145,000	£1,325,000	-£5,051,000	76
25/12/2009	£23,808,000	-£1,232,000	-£8,376,000	82

Payment Information Summary

Days Beyond Terms

Trend Indicator

25	11
Company DBT	UK Average DBT

Steady

Improving Worsening

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

Mortgage Summary

Outstanding	0
Satisfied	3

Total Current Directors	7
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	17

Current Directors

Name	David Hunter Prattis	Date of Birth	21/07/1963
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	11/01/2012
Address	Brunel Road, Earlstrees Industrial Estate, Corby, Northamptonshire, NN17 4JW
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Nigel Andrew Smailes	Date of Birth	15/07/1963
Officers Title	Mr	Nationality	British
Present Appointments	10	Function	Director
Appointment Date	01/10/2006
Address	11 Nook Green, Tingley, Wakefield, West Yorkshire, WF3 1ER
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Jan Timmerman	Date of Birth	02/05/1966
Officers Title	Mr	Nationality	Dutch
Present Appointments	1	Function	Director
Appointment Date	14/12/2010
Address	Brunel Road, Earlstrees Industrial Estate, Corby, Northamptonshire, NN17 4JW
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Robert Scott Vansant	Date of Birth	18/01/1962
Officers Title	Mr	Nationality	American
Present Appointments	9	Function	Director
Appointment Date	21/08/2003
Address	150 Brightmore Way, Alpharetta, Georgia, 30005
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mitchell B Lewis	Date of Birth	20/02/1962
Officers Title	Mr	Nationality	American
Present Appointments	9	Function	Director
Appointment Date	14/02/2008
Address	8435 Lazy Oaks Court, Atlanta, Georgia, GA30 350
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Willem Bos	Date of Birth	11/10/1971
Officers Title	Mr	Nationality	Dutch
Present Appointments	1	Function	Director
Appointment Date	21/03/2013
Address	66 Loonsebaan 66, 5263cp Vught
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Shyam K Reddy	Date of Birth	02/01/1971
Officers Title	Mr	Nationality	American
Present Appointments	1	Function	Director
Appointment Date	21/03/2013
Address	17 Habersham Cove Drive, Atlanta, Georgia, GA30 305
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Steve Wade	Date of Birth	-
Officers Title	Mr	Nationality	British
Present Appointments	8	Function	Company Secretary
Appointment Date	01/10/2006
Address	5 Horrocks Way, Kettering, Northamptonshire, NN15 5DH
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
EURAMAX UK LTD	GBP	600,000	ORDINARY A	1	60
EURAMAX UK LTD	GBP	400,000	ORDINARY B	1	40

Profit & Loss

Date Of Accounts	30/12/11	(%)	31/12/10	(%)	25/12/09	(%)	26/12/08	(%)	28/12/07
Weeks	52	(%)	53	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£35,564,000	18%	£30,145,000	26.6%	£23,808,000	-20.7%	£30,008,000	-12.8%	£34,421,000
Export	£17,732,000	70.2%	£10,420,000	24.1%	£8,395,000	-	-	-	-
Cost of Sales	£27,117,000	22.8%	£22,089,000	23.4%	£17,899,000	-36.8%	£28,323,000	-10.1%	£31,522,000
Gross Profit	£8,447,000	4.9%	£8,056,000	36.3%	£5,909,000	250.7%	£1,685,000	-41.9%	£2,899,000
Wages & Salaries	£2,658,000	-0.2%	£2,663,000	-8.7%	£2,918,000	-39.7%	£4,843,000	6.9%	£4,532,000
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	£559,000	-64.6%	£1,578,000	298.2%	-£796,000	59.9%	-£1,985,000	-21.8%	-£1,630,000
Depreciation	£294,000	-4.5%	£308,000	-37.3%	£491,000	-29.4%	£695,000	-18.6%	£854,000
Audit Fees	£38,000	22.6%	£31,000	6.9%	£29,000	-	£29,000	-	£29,000
Interest Payments	£1,069,000	-9.8%	£1,185,000	7.8%	£1,099,000	-	-	-	-
Pre Tax Profit	£6,570,000	395.8%	£1,325,000	207.5%	-£1,232,000	39.2%	-£2,027,000	-23.2%	-£1,645,000
Taxation	-£202,000	-139.5%	£511,000	21.1%	£422,000	999.9%	£15,000	119%	-£79,000
Profit After Tax	£6,368,000	246.8%	£1,836,000	326.7%	-£810,000	59.7%	-£2,012,000	-16.7%	-£1,724,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£6,368,000	246.8%	£1,836,000	326.7%	-£810,000	59.7%	-£2,012,000	-16.7%	-£1,724,000

Balance Sheet

Date Of Accounts	30/12/11	(%)	31/12/10	(%)	25/12/09	(%)	26/12/08	(%)	28/12/07
Tangible Assets	£8,405,000	-13%	£9,666,000	34.1%	£7,210,000	260.7%	£1,999,000	-34.8%	£3,068,000
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£8,405,000	-13%	£9,666,000	34.1%	£7,210,000	260.7%	£1,999,000	-34.8%	£3,068,000
Stock	£4,287,000	-22.1%	£5,500,000	58.7%	£3,465,000	-18.6%	£4,256,000	-7.2%	£4,588,000
Trade Debtors	£5,746,000	-17.2%	£6,938,000	4.6%	£6,636,000	10.3%	£6,018,000	-35.9%	£9,391,000
Cash	£1,117,000	0.5%	£1,111,000	-18%	£1,355,000	57.4%	£861,000	112.6%	£405,000
Other Debtors	£1,037,000	-58.9%	£2,523,000	-8%	£2,743,000	23.2%	£2,227,000	0.8%	£2,209,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£12,187,000	-24.2%	£16,072,000	13.2%	£14,199,000	6.3%	£13,362,000	-19.5%	£16,593,000
Trade Creditors	£2,118,000	-1.7%	£2,154,000	37.7%	£1,564,000	-4.7%	£1,641,000	-53.7%	£3,541,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£555,000	-49.7%	£1,104,000	46%	£756,000	-53.6%	£1,628,000	51.6%	£1,074,000
Miscellaneous Current Liabilities	£560,000	-53.5%	£1,204,000	1.1%	£1,191,000	2%	£1,168,000	-4%	£1,217,000
Total Current Liabilities	£3,233,000	-27.5%	£4,462,000	27.1%	£3,511,000	-20.9%	£4,437,000	-23.9%	£5,832,000
Bank Loans & Overdrafts and LTL	£17,105,000	-35%	£26,327,000	0.2%	£26,274,000	58.2%	£16,606,000	9.6%	£15,158,000
Other Long Term Finance	£10,020,000	-50.2%	£20,113,000	6.3%	£18,925,000	68.9%	£11,208,000	-6.5%	£11,985,000
Total Long Term Liabilities	£17,105,000	-35%	£26,327,000	0.2%	£26,274,000	58.2%	£16,606,000	9.6%	£15,158,000

Capital & Reserves

Date Of Accounts	30/12/11	(%)	31/12/10	(%)	25/12/09	(%)	26/12/08	(%)	28/12/07
Called Up Share Capital	£1,000,000	-	£1,000,000	-	£1,000,000	-	£1,000,000	-	£1,000,000
P & L Account Reserve	-£783,000	87.1%	-£6,088,000	35.3%	-£9,413,000	-40.1%	-£6,719,000	-184%	-£2,366,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£37,000	-	£37,000	-	£37,000	-	£37,000	-	£37,000
Shareholder Funds	£254,000	105%	-£5,051,000	39.7%	-£8,376,000	-47.4%	-£5,682,000	-327.5%	-£1,329,000

Other Financial Items

Date Of Accounts	30/12/11	(%)	31/12/10	(%)	25/12/09	(%)	26/12/08	(%)	28/12/07
Net Worth	£254,000	105%	-£5,051,000	39.7%	-£8,376,000	-47.4%	-£5,682,000	-327.5%	-£1,329,000
Working Capital	£8,954,000	-22.9%	£11,610,000	8.6%	£10,688,000	19.8%	£8,925,000	-17.1%	£10,761,000
Total Assets	£20,592,000	-20%	£25,738,000	20.2%	£21,409,000	39.4%	£15,361,000	-21.9%	£19,661,000
Total Liabilities	£20,338,000	-33.9%	£30,789,000	3.4%	£29,785,000	41.5%	£21,043,000	0.3%	£20,990,000
Net Assets	£254,000	105%	-£5,051,000	39.7%	-£8,376,000	-47.4%	-£5,682,000	-327.5%	-£1,329,000

Miscellaneous

Date Of Accounts	30/12/11	(%)	31/12/10	(%)	25/12/09	(%)	26/12/08	(%)	28/12/07
Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
Capital Employed	£17,359,000	-18.4%	£21,276,000	18.9%	£17,898,000	63.8%	£10,924,000	-21%	£13,829,000
Number of Employees	76	-	76	-7.3%	82	-42.7%	143	-1.4%	145
Auditors	ERNST & YOUNG LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	NATIONAL WESTMINSTER BANK PLC
Bank Branch Code	60-10-10

Ratios

Date Of Accounts	30/12/11		31/12/10	25/12/09	26/12/08	28/12/07
Pre-tax profit margin %	18.47		4.40	-5.17	-6.75	-4.78
Current ratio	3.77		3.60	4.04	3.01	2.85
Sales/Net Working Capital	3.97		2.60	2.23	3.36	3.20
Gearing %	6734.30		-521.20	-313.70	-292.30	-1140.60
Equity in %	1.20		-19.60	-39.10	-37	-6.80
Creditor Days	21.67		26.50	23.91	19.90	37.44
Debtor Days	58.81		85.38	101.45	72.99	99.30
Liquidity/Acid Test	2.44		2.36	3.05	2.05	2.05
Return On Capital Employed %	37.84		6.22	-6.88	-18.55	-11.89
Return On Total Assets Employed %	31.90		5.14	-5.75	-13.19	-8.36
Current Debt Ratio	12.72		-0.88	-0.41	-0.78	-4.38
Total Debt Ratio	80.07		-6.09	-3.55	-3.70	-15.79
Stock Turnover Ratio %	12.05		18.24	14.55	14.18	13.32
Return on Net Assets Employed %	2586.61		-26.23	14.70	35.67	123.77
Limited Company Report Event History		Your Login: Chirag Sangani Your User ID:  100016658
Company No: 00849254

Status History

No Status History found

Event History

Date	Description
12/04/2013	Mr J.C. Hummel has left the board
12/04/2013	New Board Member Mr S.K. Reddy appointed
12/04/2013	New Board Member Mr W. Bos appointed
12/10/2012	New Accounts Filed
18/07/2012	Annual Returns
24/01/2012	New Board Member Mr D.H. Prattis appointed
19/01/2012	New Board Member Mr J.C. Hummel appointed
17/10/2011	Annual Returns
13/10/2011	New Accounts Filed
13/10/2011	New Accounts Filed
04/02/2011	Mr R.A. Dresen has left the board
04/02/2011	New Board Member Mr J. Timmerman appointed
30/12/2010	New Accounts Filed
25/10/2010	Annual Returns
20/02/2010	New Accounts Filed

Previous Company Names

Date	Previous Name
24/09/1996	ALUMAX COATED PRODUCTS U.K. LIMITED
30/09/1994	EURAMAX LIMITED
01/09/1990	EURAMAX ALUMINIUM LIMITED
31/12/1978	EURAMAX ALUMINIUM U.K.LIMITED

Statistics

Group	6 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	EURAMAX UK LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	EURAMAX INTERNATIONAL INC

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
EURAMAX INTERNATIONAL INC	N/A	-	-
EURAMAX INTERNATIONAL...	03839670	25.12.2009	N
EURAMAX INTERNATIONA...	03162836	25.12.2009	N
EURAMAX UK LIMITED	05631985	30.12.2011	N
EURAMAX COATED PR...	00849254	30.12.2011	N	£35,564,000
ELLBEE LIMITED	00485331	30.12.2011	N	£23,598,000

Statistics

Group	6 companies
Linkages	0 companies
Countries	In 0 countries

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	FIRST LIEN DEBENTURE
Date Charge Created:	29/06/05
Date Charge Registered:	15/07/05
Date Charge Satisfied:	22/03/11
Status:	SATISFIED
Person(s) Entitled:	GENERAL ELECTRIC CAPITAL CORPORATION AS AGENT AND TRUSTEE FOR ITSELF AND EACH OF THE SECUREDCRE
Amount Secured:
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERYSEE THE MORTGAGECHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	THIRD U.K. CONSENT AGREEMENT
Date Charge Created:	15/03/02
Date Charge Registered:	04/04/02
Date Charge Satisfied:	11/08/05
Status:	SATISFIED
Person(s) Entitled:	BNP PARIBAS AS TRUSTEE FOR THE SECURED CREDITORS (AS DEFINED)
Amount Secured:	THE "SECURED OBLIGATIONS" MEANING THE GUARANTIED OBLIGATIONS (AS DEFINED) OF THE COMPANY PROVIDED THAT NO OBLIGATION ORLIABILITY SHALL BE INCLUDED IN THE DEFINITION OF "SECURED OBLIGATIONS" TO THE EXTENT THAT, IF IT WERE SO INCLUDED, THE LEGAL MORTGAGE (OR ANY PART THEREOF) WOULD CONSTITUTE UNLAWFULFINANCIAL ASSISTANCE WITHIN THE MEANING OF SECTIONS 151 AND 152 OF THE COMPANIES ACT 1985
Details:	THE MORTGAGED SHARES. "MORTGAGED SHARES" MEANS SUCH OF THE SHARES (AS DEFINED) AS ARE IDENTIFIED INTHE SCHEDULE TO THIS FORM 395 AND SUCH OTHER SHARES AS THE COMPANY MAY HAVE TRANSFERRED OR BE OBLIGED TO THE TRANSFER TO THE MORTGAGEE PURSUANT TO CLAUSE 3.2 (SUBSEQUENTLY ACQUIRED SHARES) OF THE LEGAL MORTGAGE....PLEASE REFER TO FORM 395 FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	25/09/96
Date Charge Registered:	03/10/96
Date Charge Satisfied:	11/08/05
Status:	SATISFIED
Person(s) Entitled:	BANQUE PARIBAS (AS TRUSTEE FOR THE SECURED CREDITORS (AS DEFINED))
Amount Secured:	IN FAVOUR OF THE CHARGEE THE "SECURED OBLIGATIONS" MEANING THE GUARANTIED OBLIGATIONS (AS DEFINED) OF THE COMPANY PROVIDED THAT NO OBLIGATION OR LIABILITY SHALL BE INCLUDED IN THE DEFINATION OF "SECURED OBLIGATIONS" TO THE EXTENT THAT, IF IT WERE SO INCLUDED, THE DEBENTURE (OR ANY PART THEREOF) WOULD CONSTITUTE UNLAWFUL FINANCIAL ASSISTANCE WITHIN THE MEANING OF SECTIONS 151 AND 152 OF THE COMPANIES ACT 1985
Details:	(A) BY WAY OF FIRST LEGAL MORTGAGE ALL THE PROPERTY (IF ANY) SPECIFIED IN SCHEDULE 1 TO THE FORM 395TOGETHER WITH ALL BUILDINGS AND FIXTURES THEREON, THE PROCEEDS OF SALE OF ALL OR ANY PART THEREOF AND THE BENEFIT OF ANY COVENANTS FOR TITLE GIVEN OR ENTERED INTO BY ANY PREDECESSOR IN TITLE OF THE COMPANY AND ANY MONEYS PAID OR PAYABLE IN RESPECT OF SUCH COVENANTS; SEE THE MORTGAGE CHARGE DOCUMENTFOR FULL DETAILS

Trade Debtors / Bad Debt Detail

No Debtor Data
Total Value	-

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Neil Patrick Davies	0	6
Neil Patrick Davies	0	6
Walter Leo Heyman	0	3
Helen Gertrude Mccall Feeney	2	19
Paul Frederick Williams	4	17
Jeffrey C Hummel	0	1
Paul Frederick Williams	4	17
Robert Valentine Horton	1	6
Derek Rolf	0	1
Ian Pittendreigh	0	13
Joseph Silvestri	1	6
Gerald David John Williams	0	3
Roger Anthony Walters	2	7
David James Goddard	0	1
Jo Cuypers	0	6
John David Smith	1	9
Robert Arthur Gerard Dresen	0	1

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.24
UK Pound	1	Rs.84.54
Euro	1	Rs.72.32

INFORMATION DETAILS

Report Prepared by :

PRL

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.