MIRA INFORM REPORT

Report Date :

23.12.2014

IDENTIFICATION DETAILS

Name :	BED CO
Registered Office :	Building Electrical Design, No.41 Arasteh St, Tandis Building Esfahan
Country :	Iran
Date of Incorporation :	Not Available
Com. Reg. No.:	Not Available
Legal Form :	Not Available
Line of Business :	Provider of IT Solution.
No. of Employee :	4

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Iran	B1	B1

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

IRAN - ECONOMIC OVERVIEW

Iran's economy is marked by statist policies, an inefficient state sector, and reliance on oil, a major source of government revenues. Price controls, subsidies, and other distortions weigh down the economy, undermining the potential for private-sector-led growth. Private sector activity is typically limited to small-scale workshops, farming, some manufacturing, and services. Significant informal market activity flourishes and corruption is widespread. New fiscal and monetary constraints on Tehran, following the expansion of international sanctions in 2012 against Iran's Central Bank and oil exports, significantly reduced Iran's oil revenue, forced government spending cuts, and fueled a 60% currency depreciation. Economic growth turned negative in 2012 and 2013, for the first time in two decades. Iran continues to suffer from double-digit unemployment and underemployment. Lack of job opportunities has convinced many educated Iranian youth to seek jobs overseas, resulting in a significant "brain drain." However, the election of President Hasan RUHANI in June 2013 brought about widespread expectations of economic improvements and greater international engagement among the Iranian public, and early in Ruhani's term the country saw a strengthened national currency and a historic boost to market values at the Tehran Stock Exchange.

Source : CIA

Company Details

Also Known as: BED CO

Address: Building Electrical Design, No.41 Arasteh St, Tandis Building Esfahan, Iran

Tel: +98 311 2669610

Fax: +98 311 2669611

Mobile: +98 935 9826736

Website: www.bed-co.com

E-mail: info@bed-co.com

Registration & Legal Details

Current Legal Form: -

Registration Address: -

Registration Number: -

Registration Date: -

Registration Town: -

National id: -

Capital: -

Share No: -

Share Value: -

Paid Up Capital: -

Shareholders

No Data

Principals

Name: Mr. Hamed Mortaji

Position within the company: Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi-English

Name: Mrs. Fatemeh Ghanbari

Position within the company: Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Activations

Provider of IT solution.

Local Reporters consider the investigated company to be SMALL in their field of concern

Operations

Company Employs: 4

Sales: 100% Nationally

Sales to: Group companies, General Public

Sales Term: Cash, Bank Transfer, accept credit, Letter of credit

Vehicles: 1

HQ Premises

Operates Form: Rented Office

Location: Central Business Area

Bankers

Melli Bank

Financial

No Data

Imports

Imports From: India

Importing Terms: Bank Transfer

Import % and type of product: 5% Finished Goods

Export

Export % and type of product: Subject does not export

Related Companies

No Data

Payment

Unknown

Interview & Reporter Comments

Following to the interview with Mr. Hamed Mortaji (Manager), he refused to cooperate with us.

The company is not registered in Iran Registry Office.

Conclusions

Local Reputation:

The company being investigated is considered by local reporters to be a High Trade Risk and To Be Secured.

Owner/Shareholders Comments:

None of the owners / shareholders have an active participation in the running of  the business.

Age of Business: -

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.17
UK Pound	1	Rs.98.85
Euro	1	Rs.77.42

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	TPT

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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