MIRA INFORM REPORT

Report Date :

25.09.2014

IDENTIFICATION DETAILS

Name :	RECICLABLES PINEDA MOCTEZUMA S.A.DE C.V.

Registered Office :	Calle 19 Norte 1407 Col. Barrio de San Miguelito, 72000 Puebla, Puebla

Country :	Mexico

Date of Incorporation :	03.08.2005

Legal Form :	Stock Company of Variable Capital

Line of Business :	Sale, handling and transportation of industrial wastes

No. of Employees :	100

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 :	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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Mexico

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

Source : CIA

IDENTIFICATION

CORRECT COMPANY NAME

RECICLABLES PINEDA MOCTEZUMA S.A.DE C.V.

TRADE NAME

RPM

TAXPAYER REGISTRATION

RFC RPM0508031TA

MAIN ADDRESS

Calle 19 Norte 1407 Col. Barrio de San Miguelito

POSTAL CODE

72000

DEPT/PROV/REGION/STATE

Puebla, Puebla

COUNTRY

MEXICO

TELEPHONE

(52222) 2228983/84

CORPORATE E-MAIL

acerosmoctezuma@hotmail.com

WEB

www.reciclablespm.com

EXECUTIVE SUMMARY
Date of foundation	2005
permanent employees	100
Chief Executive	PINEDA MOCTEZUMA, DAMARIS
Disposition	Poor. Very few information was given. Politely.
Financial Situation	FAIR
Payments policy	Without rating (No payment experience traced)
Company Size	(GE) LARGE COMPANY
Credit ()**	MODERATE RISK. (Acceptable financial situation but limited).

Number of times that this company was required: 1

REPUTATION

NOTHING AGAINST SUBJECT

LEGAL STRUCTURE


LEGAL STATUS	Stock Company of Variable Capital
DATE OF INCORPORATION	03AUG2005
NOTARY OFFICE		DURATION	99 years

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
*PINEDA MOCTEZUMA, DAMARIS*	General director
FLORES ANDREU, FELIPE	Operations director

BUSINESS

SIC Classification
0 - ACTIVIDAD NO BIEN IDENTIFICADA (Actividades No bien especificadas y/o mixtas no determinadas.)

Main activity

Sale, handling and transportation of industrial wastes

Products: scrap metal, stainless steel, aluminum, cardboard, wood, copper, burr and steel crap,

bronze

O P E R A T I O N S

Import

Export

Yes

COUNTRY

United States and Europe at 80% of its sales

SELLING TerritorY

Domestic market

EMPLOYEES

100

LOCATION
PREMISES	Rented
AREA	2,000 sqm
OTHER PREMISES	The administrative offices, tax domicile, warehouse and proccesing area operate at the heading address. It has a branch located at Antiguo Camino A Santa María No 100 B Villa De Pozos, 78421, San Luis Potosí

FINANCIAL INFORMATION


Disposition	Poor. Very few information was given. Politely.
Interviewee(s)	Felipe Flores Andreu
Information provided	Mr. Felipe Flores Andreu confirmed some information, to provide more detailed data and especially financial information required to provide a letter or mail from the end user of the information, which empowers us to obtain such data on its behalf.


FINANCIAL SITUATION	FAIR It is a public limited company with variable capital, the payment behavior is unknown, since the nature of the activity, providers are different because they provide a service for the management of industrial waste, the only permanent supplier is the GROUP FISCHER, the other materials are received through companies that call for them to go to collect the waste, but are not permanent, some call only once a year and always pay by cash. Its experience of 9 years in the market, indicates that this is a growth stage company. So we do not have enough information to recommend a credit transaction, we suggest only operate cash.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: FISCHER MEXICANA, S.A. DE C.V.	Tel.: (444) 826 5060	Country: MEXICO
Goods/Services? : service supplier
Highest credit? : not specified
	Terms? : cash
Comments : For policies they do not provide trade references

THE FOLLOWING INFORMATION IS REPORTED BY RISK INFORMATION CENTER

No reported banking debt.

Comments :

No reported banking debt.

LAWSUITS :

No legal actions or claims have been filed against this Company.

GENERAL INFORMATION


Explanation about commercial reputation

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.02
UK Pound	1	Rs.99.99
Euro	1	Rs.78.37

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	PDT

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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