MIRA INFORM REPORT

Report No. :	317412
Report Date :	16.04.2015

IDENTIFICATION DETAILS

Name :	BAJA AGRO INTERNATIONAL SA DE CV
Registered Office :	Privada Kino Este No. 100A-1 Parque Industrial Misión Ensenada, Baja California
Country :	México
Date of Incorporation :	1983
Legal Form :	Sociedad Anónima de Capital Variable
Line of Business :	Agrochemical Manufacture Industry
No. of Employee :	140

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No complaints
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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
México	A2	A2

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

MÉXICO ECONOMIC OVERVIEW

Mexico's $1.3 trillion economy has become increasingly oriented toward manufacturing in the 21 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 46 countries - 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 two years in office, passing and implementing education, energy, financial, fiscal and telecommunications reform legislation, among others, with the aim to improve competitiveness and economic growth across the Mexican economy. Although the economy is expected to experience stronger growth in 2015 as a result of increased investment and stronger demand for Mexican exports, growth will continue to remain modest and below expectations. Over the medium-term, the economy is vulnerable to global economic pressures, such as rising interest rates and low oil prices—which account for about 30 percent of government revenue.

Source : CIA

Company name and address
Legal Name:	BAJA AGRO INTERNATIONAL SA DE CV
Trade Name:	AGROIN
RFC:	BAI061214KW5
Date Created:	1983
Date Incorporated:	1983
Legal Address:	Privada Kino Este No. 100A-1 Parque Industrial Misión Ensenada, Baja California, México
Operative Address:	Privada Kino Este No. 100A-1 Parque Industrial Misión Ensenada, Baja California, México
Telephone:	52 646 177 0475
Fax:	52 646 177 0547
Legal Form:	Sociedad Anónima de Capital Variable
Email:	martin@yucca.com.mx
Registered in:	Mexico
Website:	www.yucca.com.mx
Contact:	Alfredo Rene Loperena
Staff:	140
Activity:	Agrochemical Manufacture Industry
BANKS	BANAMEX
	The company does not make its banking data public
HISTORY
	The company was established in 1983
PRINCIPAL ACTIVITY
	Baja Agro International Inc. de C.V. (AGROIN) is a Mexican company located in Ensenada Baja California in northern Mexico, dedicated since 1983 to the exploitation and industrialization of the Yucca schidigera plant that thrives only in this region of Mexico and the southwestern United States . This plant extract, liquid or powder, has many uses in the food industry, in cosmetics and in the beverage for human consumption, but their widespread use, are given in manufacturing improvers and soil conditioners agricultural and manufacturing of food for birds, pigs, cattle, pets and aquatic species, where it has proved its efficiency in environmental and metabolic reduction of harmful gas emissions for animals, improving air quality farm and the efficiency of feed conversion and weight gain of the animals.
Products/Services description:	> Acidifier > Amino Acid > Antioxidant > Chelated/Non-chelated Minerals > Encapsulated Ingredient > Enzyme > Fat > Feed Colourant > Feed Flavouring and Sweetener > Growth Enhancer > Ion Poiser > Microbial Product > Minerals > Mold Inhibitor/Mycotoxin Binder > Performance Enhancer > Plant Extract Additive > Vitamins > Whey > Yeast > Feed Supplement - Others
Sales are:	Wholesale
Clients:	Wilbur Ellis Co., USA Ensol S.A. Argentina AGROVET SA Peru ZYR CORP ECUADOR Ecuador AMERIVET S A S Colombia
Brands:	BIOPOWDER® BIOPOWDER M® BIOPETS® BIOAQUA P® BIOLIQUID 3000® BIOAQUA L® SURFAROLL® BIOSOIL®
Suppliers:	Farms
Operations area:	National and International
The company imports from	No imports registered
The company exports to	Worldwide
The subject employs	140 employees
LOCATION
Headquarters :	Privada Kino Este No. 100A-1 Parque Industrial Misión Ensenada, Baja California, México
Branches:	The company does not have branches
Industry:	Companies in this industry develop and manufacture vitamins, nutritional supplements, herbal remedies, and other natural health products Demand for vitamins and nutritional supplements is driven by demographics, acceptance of natural medicines, and the desire to maintain long-term health. The profitability of individual companies depends on the ability to develop superior products Medicines made from botanical substances, as well as from organic and inorganic chemicals, are included in the industry. Vitamins are used to maintain or improve overall health and reduce the risk of chronic disease, both in humans and in animals, by supplementing the diet.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is a private company. The owner is Alfredo Rene Loperena.
Management:	Alfredo R. Loperena Núñez, Director de Comercialización Alfredo P. Loperena Montaño, International Sales Ricardo Fernández Suárez, Sales Noe Maldonado Moreno, Manager
Related Companies:	There are no subsidiaries for the subject
FINANCIAL INFORMATION
	This is a private company which does not make its financial statements public.
	There are no financial figures available for the subject.
LEGAL FILINGS
	There are no legal filings registered for the subject
SUMMARY
	Agroin is a Mexican company located in Ensenada Baja California in northern Mexico, dedicated to the exploitation and industrialization of the Yucca schidigera plant. The company has more tan 30 years of experience in the market with a médium-large sized structure. The company shows international trade transactions without negative.
RISK INFORMATION
DEBTS	Controlled
CASH FLOW	Normal
STATUS	Active
ENTERVIEW
NAME	NA
POSITION	Sales
COMMENTS	The person contacted confirmed address and owner. She refused to confirm more data without knowing the inquirer name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.40
UK Pound	1	Rs.92.15
Euro	1	Rs.66.48

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	ANK

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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