MIRA INFORM REPORT

Report No. :	355712
Report Date :	23.12.2015

IDENTIFICATION DETAILS

Name :	DEEP SEA SOLUTIONS LIMITED
Registered Office :	Suite E-2, Union Court Building, Elizabeth Avenue and Shirley Street, Nassau
Country :	Bahamas
Date of Incorporation :	Not Available
Legal Form :	Limited Company
Line of Business :	International Business Company
No. of Employee :	Not Available

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 :	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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Bahamas	A2	A2

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

BAHAMAS - ECONOMIC OVERVIEW

The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 35% of GDP. Manufacturing and agriculture combined contribute less than one 10th of GDP and show little growth, despite government incentives aimed at those sectors. The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007 and 2011, and tourism, financial services, and construction - pillars of the national economy - remain subdued. Conditions are improving in the tourism sector, however, due to steady foreign investment led activity. New resort and marina developments are likely to provide sustained employment opportunities.

Source : CIA

STATUTORY INFORMATION
Legal Name:	DEEP SEA SOLUTIONS LIMITED
Trade Name:	DEEP SEA SOLUTIONS LIMITED
ID:	147062B
Date Created:	NA
Date Incorporated:	NA
Legal Address:	Suite E-2, Union Court Building,
	Elizabeth Avenue and Shirley Street, Nassau, Bahamas
Operative Address:	Suite E-2, Union Court Building,
	Elizabeth Avenue and Shirley Street, Nassau, Bahamas
Telephone:	(242) 322-7601
Fax:	(242) 322-5807 / 325-3583
Legal Form:	Limited Company
Email:	bahamas@mossfon.com
Registered in:	Bahamas
Website:	www.mossfon.com
Contact:	MOSSACK FONSECA & CO. (BAHAMAS LTD.)
Staff:	0
Activity:	IBC (International Business Company)
BANKS
Central Bank of The Bahamas (CBB)
The company does not make its banking data public
History
We could not confirm experience of the company.
PRINCIPAL ACTIVITY
DEEP SEA SOLUTIONS LIMITED is an International Business Company incorporated in Bahamas for tax purposes.
The company uses the registrant address but does not carry any operation in the country.
It is not registered in Bahamas as being a local business company.
It is not listed with the Bahamas commercial pages.
Products/Services description:	Trading,export,wholesale
Brands:	NA
Sales are:	NA
Clients:	NA
Suppliers:	NA
Operations area:	NA
The company imports from	NA
The company exports to	NA
The subject employs	The company does not have any employee in Bahamas.
Payments:	Unknown
LOCATION
Headquarters :	The company does not operate in the country. It would use its address for tax purposes.
Branches:	NA
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company which does not make its shareholders private. It may be related to:
	Deep Seas Environmental Solutions Ltd.
	Meadowsweet
	132 Woodlands Road
	Ashurst, Hampshire
	SO40 7AP
	United Kingdom
	+44 (0) 23 80 292 309
	Company Number: 8331743 (England and Wales)
	However, we could not confirm this information.
Management:	MOSSACK FONSECA & CO. (BAHAMAS LTD.)
	Suite E-2, Union Court Building,
	Elizabeth Avenue and Shirley Street, Nassau, Bahamas
	Tel : (242) 322-7601
	Fax : (242) 322-5807 / 325-3583
	Email : bahamas@mossfon.com
FINANCIAL INFORMATION
This is a private company which does not make its financials public.
There are no financial connected to the subject.
LEGAL FILINGS
There are no legal issues regaridng the subject
SUMMARY
This is an International Business Company which belongs to a company located in Bahamas.
It is registered in Bahamas for tax purposes and does not operate within the country. It is managed by a resident registration agent.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Unknown
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	NA
POSITION	Agent
COMMENTS	The person contacted refused to confirm data about this company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.30
UK Pound	1	Rs.98.71
Euro	1	Rs.72.33
BSD	1	Rs. 66.26

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	KAS
Report Prepared by :	ASH

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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