MIRA INFORM REPORT

Report Date :

25.10.2013

IDENTIFICATION DETAILS

Name :	LITERIES UNIVERSELLES PAGA INC.
Registered Office :	6395 Chemin de Liesse, Montreal, Quebec H4T 1E5
Country :	Canada
Date of Incorporation :	01.10.2009
Legal Form :	Corporation – Profit
Line of Business :	Importer, wholesaler and distributor of linens and home textiles.
No. of Employees :	90

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)
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 and address

PAGA UNIVERSAL LINENS

The correct name is:

Company name: LITERIES UNIVERSELLES PAGA INC.

Address: 6395 Chemin de Liesse, Montreal, Quebec H4T 1E5 - Canada

Telephone: +1 514-725-7600

Fax: +1 514-376-0801

Website: -

Company Summary

Corporate ID#: 1166188756

State: Quebec

Judicial form: Corporation – Profit

Date incorporated: October 1, 2009

Stock: -

Value: -

Name of manager: Paul NASSAR

ACTIVITIES & OPERATIONS

History:

Business issued from the merger of:

LITERIES UNIVERSELLES PAGA INC. (ID# 1144042109)

LIT D’OR CANADA INC. (ID# 1145484383)

GROUPE PANAS (CANADA) INC. (ID# 1145579299)

IST

Business:

Importer, wholesaler and distributor of linens and home textiles.

The Company is also a discounter.

The Company is also doing business as:

- LIQUIDATION DE LITERIE

- LIT D’OR CANADA

- MAISON CONDELLE

No name of foreign suppliers available.

Staff: 90

Operations & branches:

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

SHAREHOLDERS & MANAGERS

Shareholders:

Paul NASSAR holds more than 50% of the stock.

Management:

Paul NASSAR is President, Director and CEO.

As far as we know, he is not involved in other local corporations.

Subsidiaries

And partnership: None

FINANCIALS

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

On a direct call, a financial assistant controlled the present report.

Sales declared for year 2012 is in the range of CAD 10,000,000=

The business is profitable.

Banks: Caisse Desjardins

Montreal, Quebec

LEGAL FILINGS

Legal filings & complaints:

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

Secured debts summary: None

Haut du formulaire

COMPANY CREDIT HISTORY

Trade references:

Date reported: August 2013

High credit: CAD 25,000

Now owing: 0

Past due: 0

Last purchase: July 2013

Line of business: Office supply

Paying status: 2 days beyond terms

Date reported: August 2013

High credit: CAD 100,000+

Now owing: 0

Past due: 0

Last purchase: July 2013

Line of business: Payroll

Paying status: As agreed

Date reported: August 2013

High credit: CAD 800

Now owing: 0

Past due: 0

Last purchase: July 2013

Line of business: Telecommunications

Paying status: 2days beyond terms

Domestic credit history:

National Credit Bureaus gave a correct medium credit rating.

According to our credit analysts, during the last 6 months, domestic payments were made with an average of 2 days beyond terms.

Other comments:

The Company maintains a regular business.

The bank confirmed an account on 5 figures medium.

The Company is in good standing.

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

Last report was filed on 06-19-2013.

The risk is low.

Our opinion:

A business connection may be conducted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.41
UK Pound	1	Rs.99.53
Euro	1	Rs.84.82

INFORMATION DETAILS

Report Prepared by :

SDA

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.