MIRA INFORM REPORT

Report Date :

23.10.2013

IDENTIFICATION DETAILS

Name :	VARIAN MEDICAL SYSTEMS INTERNATIONAL AG
Registered Office :	Chollerstrasse 38, Zug, 6300
Country :	Switzerland
Date of Incorporation :	05.11.1959
Com. Reg. No.:	CH17030015843
Legal Form :	Limited company
Line of Business :	Wholesale of medical, surgical and orthopaedic goods
No. of Employees :	6100

RATING & COMMENTS

MIRA’s Rating :

B

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 – March 31^st, 2013

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

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

SWITZERLAND - ECONOMIC OVERVIEW

Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy recovered in 2010 with 3.0% growth. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safe-haven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell to 1.9% in 2011 and 0.8% in 2012. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and is considering the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy

Source : CIA

Company name

_{VARIAN MEDICAL SYSTEMS INTERNATIONAL AG}

Company Summary

Company Name Varian Medical Systems Company Registration Number CH17030015843

International AG

Country CH

Activity Code 464602 Activity Description Wholesale of medical, surgical and orthopaedic goods

Company Status Active Latest Turnover 2,878,725,890.00 (CHF)

Company Identification

Activities

Activity Code 464602

Activity Description Wholesale of medical, surgical and orthopaedic goods

Basic Information

Company Name Varian Medical Systems International AG

Registered Company Name Varian Medical Systems International AG

Company Registration Number CH17030015843

Country CH

Date of Company Registration 05/11/1959

Date of Starting Operations 05/11/1959

Legal Form Limited company

Company Status Active

Principal Activity Code 464602

Principal Activity Description Wholesale of medical, surgical and orthopaedic goods

Contact Address Chollerstrasse 38, Zug, 6300

Contact Telephone Number 0417498844

Main Address

Address Chollerstrasse 38, Zug, 6300

Country CH

Telephone 0417498844

Current Directors Managers

Name Mario Cavallari

Address Alpnach Dorf, 6055

Position authorized officer

Name Ernst Derrer

Address Cham, 6330

Position authorized officer

Name Roger Leibundgut

Address Müswangen, 6289

Position authorized officer

Name Luis Martin Rodriguez

Address Baar, 6340

Position authorized officer

Name Rolf Stähelin

Address Schlieren, 8952

Position authorized officer

Name John Wei-Ching Kuo

Address Saratoga

Position president of the board of directors

Name Jörg Fässler

Address Baar, 6340

Position vice-president

Name Martin Amstutz

Address Döttingen, 5312

Position member

Name Michael Sandhu

Address Baar, 6340

Position member

Share Capital Structure

Nominal Share Capital 0.40 (CHF)

Name Varian Medical Systems Inc.

Share Percent 100.00 %

Employee Information

Year

Number of Employees 6100

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.78
UK Pound	1	Rs.99.66
Euro	1	Rs.84.49

INFORMATION DETAILS

Report Prepared by :

NIS

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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