MIRA INFORM REPORT

Report Date :

12.11.2013

IDENTIFICATION DETAILS

Name :	SUZY’S INC.
Registered Office :	50 Dufflaw Road, Toronto, Ontario M6A 2W1
Country :	Canada
Date of Incorporation :	1966
Legal Form :	Federal Corporation – Profit
Line of Business :	The company offers blazers and vests, bottoms, dresses, outerwear, shirts and blouses, suit collections, sweaters, and tops; footwear; and accessories, including belts, handbags, hats, gloves and scarves, and umbrellas. It also offers products online
No. of Employees :	2,000

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 :	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, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Canada	A1	A1

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

CANADA - ECONOMIC OVERVIEW

As a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-12 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly becoming an even larger economic driver with Alberta's oil sands significantly boosting Canada's proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela

Source : CIA

Company name

SUZY’S INC.

Address: 50 Dufflaw Road, Toronto, Ontario M6A 2W1 - Canada

Telephone: +1 416-789-6999

Fax: +1 416-789-6956

Website: www.ym-inc.com

Corporate ID#: 4479041

State: Federal

Judicial form: Federal Corporation – Profit

Date incorporated: June 1, 2008

Date founded: 1966

Stock: -

Value: -

Name of manager: Michael GOLDGRUB

ACTIVITIES & OPERATIONS

History:

Business issued from the merger of:

SUZY’S INC. (Federal ID# 4116305)

3652769 CANADA INC. (Federal ID# 3652769)

EXPLOSIVE FASHIONS INC (Federal ID# 1948156)

IST

Business:

Suzy's, Inc. operates a chain of more than 190 women apparel retail stores in Canada.

The company offers blazers and vests, bottoms, dresses, outerwear, shirts and blouses, suit collections, sweaters, and tops; footwear; and accessories, including belts, handbags, hats, gloves and scarves, and umbrellas. It also offers products online.

The company was founded in 1966 and is based in Toronto, Canada.

Suzy's, Inc. operates as a subsidiary of Y.M., Inc.

Staff: 2,000

Operations & branches:

At the headquarters, we find a large showroom, warehouse and office.

The Company maintains more than 190 stores in Canada.

SHAREHOLDERS & MANAGERS

Shareholders:

YM INC

50 Dufflaw Road, Toronto, Ontario M6A 2W1

Federal Corporation

Incorporated on 10-28-2012

ID# 8228426

Management:

Michael GOLDGRUB is the President, Director and CEO

John CIOLFI is Director

As far as we know, they are involved in other corporations, including:

YM INC

50 Dufflaw Road, Toronto, Ontario M6A 2W1

SUZY SHIER (CANADA) LIMITED

50 Dufflaw Road, Toronto, Ontario M6A 2W1

FINANCIALS

In Canada, privately held corporations are not required to publish any financials.

On a direct call, nobody was available to answer our questions.

We sent a fax but no answer received.

However, sales estimate for year 2012 is in the range of CAD 180,000,000=

The business is profitable.

Banks: Royal Bank of Canada

Scotia Bank

...

LEGAL FILINGS

Legal filings & complaints:

As of today date, there is no legal filing pending with the Courts.

Secured debts summary: None

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COMPANY CREDIT HISTORY

Trade references:

Date reported: October 2013

High credit: CAD 50,000

Now owing: 0

Past due: 0

Last purchase: September 2013

Line of business:Office supply

Paying status: On terms

Date reported: October 2013

High credit: CAD 4,000,000+

Now owing: 0

Past due: 0

Last purchase: September 2013

Line of business:Payroll

Paying status: As agreed

Date reported: October 2013

High credit: CAD 6,000

Now owing: 0

Past due: 0

Last purchase: September 2013

Line of business:Telecommunications

Paying status: On terms

Domestic credit history:

Domestic credit history appears as follow:

Monthly Payment Trends - Recent Activity

Date	Balance	Current	Up to 30 DBT	31-60 DBT	61-90 DBT	>90 DBT
05/13	$213,100	100%	0%	0%	0%	0%
06/13	$215,300	100%	0%	0%	0%	0%
07/13	$212,900	100%	0%	0%	0%	0%
08/13	$213,200	100%	0%	0%	0%	0%
09/13	$211,900	100%	0%	0%	0%	0%
10/13	$212,600	100%	0%	0%	0%	0%

National Credit Bureaus gave a satisfying credit rating.

International credit history:

Payments of imports are currently made on terms.

Other comments:

The Company maintains a strong business.

The Company is in good standing.

This means that all local and federal taxes were paid on due date.

The risk is low.

Our opinion:

A business connection may be conducted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.29
UK Pound	1	Rs.101.36
Euro	1	Rs.84.59

INFORMATION DETAILS

Report Prepared by :

PDT

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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