MIRA INFORM REPORT

Report Date :

13.01.2014

IDENTIFICATION DETAILS

Name :	SNC CAD

Registered Office :	La Mottais, 35140 Saint Aubin Du Cormier

Country :	France

Date of Incorporation :	June 1986

Com. Reg. No.:	RCS Rennes B 338 106 586

Legal Form :	Partnership Concern

Line of Business :	Non-food purchase plants (We tried to confirm / obtain the detailed activity but the same is not available from any sources)

No. of Employees :	3 to 5 employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Slow but Correct

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, 2013

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

France

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

france ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

REGISTERED NAME & CONCERN SUMMARY

concern summary

		EUR VAT Number	FR82338106586
Activity (APE)	Centrales d'achat non alimentaires (4619A) (Non-food purchase plants (4619A))	Legal form	Partnership
Phone	02 99 39 73 73	RCS Registration	RCS Rennes B 338 106 586
Fax		Share capital	500,000 Euros
Address	SNC CAD LA MOTTAIS 35140 SAINT AUBIN DU CORMIER	Incorporated Date	07/1986
Nationality	France	Status	Economically active

Concern details

Activity (APE)	Non-food purchase plants
RCS Registration	RCS Rennes B 338 106 586	Share capital	500,000 Euros
Registration Court	Rennes (35)	Legal form	Partnership
Court Registry Number	92 B 00189	EUR VAT Number	FR82338106586
Incorporation Date	07/1986	Formation Date	06/1986
Deregistration Date		Last account Date	N/A
Nationality	France

Establishment details

Activity (APE)	Centrales d'achat non alimentaires (4619A)	Business Pages FT®	VETEMENTS POUR HOMMES ET DAMES (DETAIL)
Postal Address	SNC CAD LA MOTTAIS 35140 SAINT AUBIN DU CORMIER	Trading Address	LA MOTTAIS 35140 SAINT AUBIN DU CORMIER
Telephone	02 99 39 73 73
Fax

Type	Head office (one site concern)	Status	Economically active
Formation Date	04/2001	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Store
Location surface	Less than 300 m²	Seasonality

Department	Ille-et-Vilaine (35)	Region	Bretagne
District	1	Area	35
City	SAINT AUBIN DU CORMIER	Size of urban area	Establishment in a rural municipality

Other establishments

	Branches	1 branch entities in this concern
	Head office	> SNC CAD <<< - Centrales d'achat non alimentaires (4619A) in SAINT AUBIN DU CORMIER (35140)
	Secondary establishments

	Regionality	Legal unit with all establishments in same area
	Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

3 to 5 employees

Concern workforce

3 to 5 employees

DIRECTORS/MANAGEMENT

Current Directors

directors

Shareholder(s)

Name	CELTAT
Name of representative	M DESPREZ JEAN
Manager position	Manager	Date of birth
Place of birth
Type	Moral person	Name at birth

Name	ALPHA ANJOU II
Name of representative	M DESPREZ JEAN
Manager position	Manager	Date of birth
Place of birth
Type	Moral person	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Manager	ALPHA ANJOU II	- - -
Manager	CELTAT	- - -
Active partner	ALPHA ANJOU II	16/11/1955 - PORTBAIL
Active partner	DESPREZ VETEMENTS	- - -
Active partner	DIFA SERVICES	- - -

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the concern

Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Status of collection

This concern is not under monitoring

SHARE & SHARE CAPITAL INFORMATION

Shareholders

No Shareholders available for this concern

GROUP STRUCTURE & AFFILIATED COMPANIES

Group data

Group Structure

No group information available for the concern

ADDITIONAL INFORMATION

This concern is not under monitoring

Commentary

The comments are ordered according to the class of risk. Companies are compared with regard to other companies of the same type. Thus a positive comment for one category can be negative for another or can change depending on its value. This is a purely statistical decision.

Workforce size is in the average risk band

The concern is 27 years old

Industry code with low risk rating

Linkages

No Linkages information available for the concern

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.94
UK Pound	1	Rs.102.06
Euro	1	Rs.84.31

INFORMATION DETAILS

Report Prepared by :

MNL

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.