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Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
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Name : |
DELPHI DIESEL SYSTEMS S.A. DE C.V. |
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Registered Office : |
Boulevard Isidro López Zertuche 4248, Col. Virreyes
Obrera, Municipio Saltillo 25220 Coahuila |
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Country : |
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Date of Incorporation : |
01.01.1989 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Manufacturing plant of engine parts |
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No. of Employees |
400 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Mexico |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
MEXICO ECONOMIC OVERVIEW
Mexico's $1.3 trillion economy has become increasingly oriented toward manufacturing in the 20 years since the North American Free Trade Agreement (NAFTA) entered into force. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Mexico has become the United States' second-largest export market and third-largest source of imports. In 2013, two-way merchandise trade reached nearly $507 billion. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership negotiations and formed the Pacific Alliance with Peru, Colombia and Chile. Mexico's current government, led by President Enrique PENA NIETO, emphasized economic reforms during its first year in office, passing education, energy, financial, fiscal and telecommunications reform legislation. The three-party "Pact for Mexico" reform agenda aims to improve competitiveness and economic growth across the Mexican economy.
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Source
: CIA |
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CORRECT COMPANY NAME |
DELPHI DIESEL
SYSTEMS S.A. DE C.V. |
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TRADE NAME |
DELPHI DIESEL SYSTEMS |
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TAXPAYER REGISTRATION |
RFC DDS8901011C3 |
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MAIN ADDRESS |
Boulevard Isidro López Zertuche 4248, Col. Virreyes Obrera, Municipio Saltillo |
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POSTAL CODE |
25220 |
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DEPT/PROV/REGION/STATE |
Coahuila |
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COUNTRY |
MEXICO |
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TELEPHONE |
(52844) 4387900 |
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CORPORATE E-MAIL |
jose.rodriguez@delphi.com |
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WEB |
www.delphi.com |
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COMMENTS |
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Other e-mail: daniel.villegas@delphi.com maria.magdalena.bustos@delphi.com |
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EXECUTIVE SUMMARY
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Date of foundation |
1989 |
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Capital stock |
No specified |
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permanent employees |
400 |
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Chief Executive |
RODRIGUEZ SANCHEZ, JOSE GUADALUPE |
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Disposition |
FAIR |
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Credit (**) |
MODERATE RISK. (Acceptable financial situation but limited). |
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Number of times that this company was required: 5 |
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LEGAL STRUCTURE
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF INCORPORATION |
01JAN1989 |
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PLACE OF REGISTRY |
Saltillo/Coahuila |
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NOTARY OFFICE |
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DURATION |
99 years |
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CURRENT PAID-IN CAPITAL |
No specified |
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PARENT COMPANY |
DELPHI AUTOMOTIVE LLP (USA) |
LISTED AT STOCK |
No |
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CURRENT EXCHANGE RATE (US$) |
Ps$.13.04 per USADollar |
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MEMBERSHIP |
CANACINTRA |
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COMMENTS |
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There was not more information available about this company incorporation. |
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DIRECTORS - EXECUTIVES –
SHAREHOLDERS
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WHO IS WHO?
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RODRIGUEZ SANCHEZ, JOSE GUADALUPE |
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TITLE |
Plant Manager |
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NATIONALITY |
Mexican |
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PROFESSION |
Engineer |
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DE LA CRUZ GONZALEZ, MARIO ALBERTO |
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TITLE |
Financial Manager |
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NATIONALITY |
Mexican |
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PROFESSION |
Certified Public Accountant |
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DE LA ROSA RODRIGUEZ, JOSÉ MATILDE |
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TITLE |
Manufacture Manager |
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NATIONALITY |
Mexican |
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PROFESSION |
Engineer |
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BUSTOS HERNÁNDEZ, MARIA MAGDALENA |
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TITLE |
Human Resources Manager |
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NATIONALITY |
Mexican |
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PROFESSION |
Engineer |
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VILLEGAS LEZA, DANIEL |
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TITLE |
Production Control Mgr |
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NATIONALITY |
Mexican |
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PROFESSION |
University graduate |
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BACKGROUND INFORMATION |
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DELPHI CONTROLADORA S. DE R.L. DE C.V. |
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BUSINESS BACKGROUND
Company that aims at buying, selling, organizing and managing all kinds of companies, partnership interests, shares, interests or units. |
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BUSINESS HISTORY
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DELPHI DIESEL SYSTEMS SA DE CV is a contract manufacturing plant of engine parts that was set up in Saltillo, Coahuila in 1989, and since its foundation has not changed in its structure. The Subject is a subsidiary of "Delphi Controladora S. de R.L. de C.V. ", which in turn is a subsidiary of "Delphi Automotive LLP " a leading global supplier of electronics and technologies for commercial automotive vehicles and other market segments. It has technical centers, manufacturing centers and customer support facilities in 32 countries. In Mexico "Delphi Controladora S. de R.L. de C.V. " also controls the following companies: -Alambrados y Circuitos Eléctricos S.A. de C.V. -Proveedora de Electricidad de Occidente S.A. de C.V. -Centro Técnico Herramental S.A. de C.V. -Delphi Alambrados Automotrices S.A. de C.V. -Delphi Automotive Systems S.A. de C.V. -Delphi Cableados S.A. de C.V. -Delphi de México S.A. de C.V. -Delphi Diesel Systems S.A. de C.V. -Delphi Diesel Systems Service, México S.A. de C.V. -Delphi Ensamble de Cables y Componentes S. de R.L. de C.V. -Delphi Interior Systems de México S.A. de C.V. -Termoeléctrica del Golfo S. de R.L. de C.V. -Delphi Sistemas de Energía S.A. de C.V. -Productos Delco de Chihuahua S.A. de C.V. -Rio Bravo Eléctricos S.A. de C.V. -Sistemas Eléctricos y Conmutadores S.A. de C.V. |
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RELATED COMPANIES TO SUBJECT
COMPANY OR TO MAJORITY SHAREHOLDER
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BUSINESS
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SIC Classification |
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Main activity |
Manufacture of engine parts, including: Heavy duty oil filters, injectors of diesel engines; parts of diesel injectors, etc. TRADEMARK: "DELPHI" (owned by its parent company). |
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O P E R A T I O N S |
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Import |
Yes |
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Country |
United States, Germany, England, Italy, Spain, Argentina, Sweden, Turkey, etc., by direct credit 60 and 90 days. |
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Export |
Yes |
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COUNTRY |
USA; by direct credit at 30 days. |
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% CASH SALES / METHOD |
35% |
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% Credit SALES / Terms |
65% Terms: 30, 45 and 60 days |
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% Ventas exterior (Paises) |
85% |
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% DOMESTIC PURCHASES |
25% |
% FOREIGN PURCHASES |
75% |
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SELLING TerritorY |
Domestic and foreign market |
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EMPLOYEES |
400 |
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Comments |
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Directly indicate that they have reduced staff due to low demand. Sales are targeted at clients in segment of diesel engines, cars, vans, commercial vehicles, heavy-duty vehicles, and in agricultural applications, industrial and marine. The Company is currently working for the following brands: CAV SIMMS ROTODIESEL CONDIESEL |
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FINANCIAL INFORMATION
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Information provided |
We made every effort but attempts to contact any executive of the Company were useless. We could only reach contact with Ms. Selena Flores Jasso (Human Resources) we at least confirmed some of the data contained in this report. The information contained in this report has been basically gathered from outside sources. We only got main accounts of the CONSOLIDATED BALANCE SHEET OF DELPHI AUTOMOTIVE LLP and SUBSIDIARIES AS OF 31 DECEMBER 2013 & 2012 (12 MONTHS), expressed in Millions Dollars. |
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Comments |
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CONSOLIDATED BALANCE SHEET OF DELPHI AUTOMOTIVE LLP AND SUBSIDIARIES AS OF 31 DECEMBER 2013 & 2012 (12 MONTHS) EXPRESSED IN MILLIONS OF US$ DOLLARS 2013 2012 CURRENT ASSETS 5,752 5,227 LONG-TERM 5,295 4,949
TOTAL ASSETS 11,047 10,176 CURRENT LIABILITIES 3,894 3,659 LONG-TERM 3,719 3,687 STOCKHOLDERS' EQUITY 3,434 2,830 TOTAL LIABILITIES+STOCKHOLDERS' EQUITY 11,047 10,176 NET SALES REVENUES 16,463 15,519 NET PROFIT 1,301 1,160 |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
FAIR Despite no balance sheets were available to assess the company results individually, we point out it has the support of the international group it belongs to. |
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Property of company comments |
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They include: - Office furniture and fixtures - Computers - Vehicles - Machinery and equipment etc. |
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Main fixed assets of the company (general detail) |
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We could not have access to that information. |
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TRADE REFERENCES,
CREDIT BUREAU, LAWSUITS, BANKS (Confidential
Information) |
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TRADE REFERENCES |
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Several consulted sources agree that the subject fulfills promptly with its payments. Nothing against it. |
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Note : Other suppliers did not provide information or could not be consulted |
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No adverse information was found against this Company in the sources consulted. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.26 |
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1 |
Rs.97.51 |
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Euro |
1 |
Rs.77.94 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.