MIRA INFORM REPORT

Report Date :

19.09.2014

IDENTIFICATION DETAILS

Name :	AUTUMN HARVEST MARITIME CO
Registered Office :	80 Broad Street, Monrovia
Country :	Liberia
Date of Incorporation :	11.03.2010
Legal Form :	Limited Corporation
Line of Business :	Shipping Company
No of Employees :	1

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 :	International Business Company
Payment Behaviour :	Unknown
Litigation :	--

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 01, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Liberia	C1	B2

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

LIBERIA - ECONOMIC OVERVIEW

Liberia is a low income country that relies heavily on foreign assistance. Civil war and government mismanagement destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businesses fled the country, taking capital and expertise with them, but with the conclusion of fighting and the installation of a democratically elected government in 2006, several have returned. Liberia is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, and iron ore and rubber have driven growth in recent years. Liberia is also reviving its raw timber sector and is encouraging oil exploration. President JOHNSON SIRLEAF, a Harvard-educated banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Rebuilding infrastructure and raising incomes will depend on financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation. The country achieved high growth during 2010-13 due to favorable world prices for its commodities. In the future, growth will depend on global commodity prices, on sustained foreign aid, trade, investment, and remittances, on the development of infrastructure and institutions, but mostly on maintaining political stability and security.

Source : CIA

Company Name
Registered Name:	AUTUMN HARVEST MARITIME CO
Requested Name:	AUTUMN HARVEST MARITIME CO
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	80 Broad Street,
	Monrovia
Country:	Liberia
Phone:	231-77000400
Fax:	231-77000422
Email:	corporate@liscr.com
Website:	www.liberiancorporations.com
CREDIT OPINION
In the absence of a payment pattern and financial information
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		11-March-2010
Reg. Number:		Monrovia, Liberia
Nominal Capital		LRD. 1,000,000
Subscribed Capital is Subscribed in the following form:
		Position	Shares
Undisclosed		Directors
The LISCR Trust Company		Agent
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Shipping Company
Imports:		Undisclosed
Exports:		Undisclosed
Trademarks:		Undisclosed
Terms of sale:		Undisclosed
Main Customers:		Undisclosed
Employees:		1 employee.
Vehicles:		Undisclosed
Territory of sales:		Liberia
Location:		Undisclosed
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Liberian Dollar (LRD.)
Approx. Ex. Rate:		1 US Dollar = 84.50 Liberian Dollar
Fiscal Year End:		December 31, 2013
Inflation:		According to information given by independent sources, the inflation at December 31st, 2013 was of 13%.
Financial Information not Submitted
BANK
Bank Name:		Ecobank Liberia
Branch:		Liberia
Comments:		None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources other than the subject company itself . This Company is an International Business Company (IBC), which is registered in Liberia; According to the Liberian statutory law, The LISCR Trust Company (“the Registered Agent”) acts as the exclusive Registered Agent for all Liberian non-resident corporate entities.It is difficult to investigate such a Company due to the Liberian regulations protecting the non disclosure of the name of the shareholders. According to Liberian business regulation, an International Business Company, is under no obligation to state its directors, officers and shareholders, also it’s under no obligation to file annual returns, prepare or submit company accounts to any authority.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.05
UK Pound	1	Rs.99.55
Euro	1	Rs.78.57

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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