MIRA INFORM REPORT

Report No. :	356690
Report Date :	29.12.2015

IDENTIFICATION DETAILS

Name :	CC PHARMAPACK INTERNATIONAL SRL
Registered Office :	Carreta La Isabela No 52, Pantoja, Santo Domngo
Country :	Dominican Republic
Date of Incorporation :	Not Available
Legal Form :	Sociedad De Responsabilidad Limitada
Line of Business :	Import, export, purchase and sales of all kinds of packaging raw materials for pharmaceuticals and pharmaceutical industries
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 :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES :

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ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Dominican Republic	A2	A2

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

DOMINICAN REPUBLIC - ECONOMIC OVERVIEW

The Dominican Republic has long been viewed primarily as an exporter of sugar, coffee, and tobacco, but in recent years the service sector has overtaken agriculture as the economy's largest employer, due to growth in telecommunications, tourism, and free trade zones. The mining sector has also played a greater role in the export market since late 2012 with the commencement of the extraction phase of the Pueblo Viejo Gold and Silver mine. The economy is highly dependent upon the US, the destination for approximately half of exports. Remittances from the US amount to about 7% of GDP, equivalent to about a third of exports and two-thirds of tourism receipts. The country suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GDP, while the richest 10% enjoys nearly 40% of GDP. High unemployment and underemployment remains an important long-term challenge. The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, boosting investment and exports and reducing losses to the Asian garment industry. The Dominican Republic's economy rebounded from the global recession in 2010-14, and the fiscal situation is improving. A tax reform package passed in November 2012 and a reduction in government spending helped to narrow the central government budget deficit from 6.6% of GDP in 2012 to 2.7% in 2014. A successful government bond placement in 2013 and 2014 helped finance the deficit. A liability management operation in January 2015, in which the government paid down over $4 billion of the country’s Petrocaribe debt, at a discount of 52% with proceeds from the sale of $2.5 billion in global bonds, reduced the country’s debt load by approximately by 3.3% of GDP.

Source : CIA

NOTE

In absence of financials, no credit limit could be recommended.

STATUTORY INFORMATION
Legal Name:	CC PHARMAPACK INTERNATIONAL SRL
Trade Name:	CC PHARMAPACK INTERNATIONAL
RNC:	130816891
Date Created:	NA
Date Incorporated:	NA
Legal Address:	CARRETA LA ISABELA NO 52, PANTOJA, SANTO DOMNGO, DOMINICAN REPUBLIC
Operative Address:	CARRETA LA ISABELA NO 52, PANTOJA, SANTO DOMNGO, DOMINICAN REPUBLIC
Telephone:	809 5610692
Fax:	NA
Legal Form:	SOCIEDAD DE RESPONSABILIDAD LIMITADA
Email:	NA
Registered in:	República Dominicana
Website:	No website
Contact:	FRANCISCO ANTONIO CALCAGÑO BRITO
Staff:	Not Available
Activity:	Packaging Industry
Banks
Banco Nacional de República Dominicana
The company does not make its banking data public
History
We could not confirm experience.
PRINCIPAL ACTIVITY
IMPORT, EXPORT, PURCHASE AND SALES OF ALL KINDS OF PACKAGING RAW MATERIALS FOR PHARMACEUTICALS AND PHARMACEUTICAL INDUSTRIES.
Products/Services description:	PACKAGING RAW MATERIALS
Brands:	CC PHARMAPACK INTERNATIONAL
Sales are:	Wholesale
Clients:	Pharmaceutical Industry
Suppliers:	ACG PHARMAPACK PVT. LTD.
	India
Operations area:	National
The company imports from	India
The company exports to	No export
The subject employs	NA
Payments:	Unknown
LOCATION
Headquarters :	CARRETA LA ISABELA NO 52, PANTOJA, SANTO DOMNGO, DOMINICAN REPUBLIC
Branches:	The company does not have branches
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. Major holder would be FRANCISCO ANTONIO CALCAGÑO BRITO
Management:	FRANCISCO ANTONIO CALCAGÑO BRITO
FINANCIAL INFORMATION
This is a private company which does not make its financial figures public.
There are no financial connected to the subject.
LEGAL FILINGS
There are no legal records connected to the subject
SUMMARY
The company is dedicated to the import, export, purchase and sale of packaging raw material for the pharmaceutical industy.
We could not confirm its experience or size.
It is active in business. However, it has a low commercial profile, not listed in the yellow pages or major credit bureaus.
The number connected to the subject, does not belong to the company.
RISK INFORMATION
DEBTS	NA
PAYMENTS	Unknown
SUGGESTED CREDIT LINE	Guarantees
CASH FLOW	NA
STATUS	Active
INTERVIEW
NAME	NA
POSITION	NA
COMMENTS	The number connected to the subject, does not belong to the company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.14
UK Pound	1	Rs.98.69
Euro	1	Rs.72.55
DOP	1	Rs. 1.46

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

INFORMATION DETAILS

Analysis Done by :	HEE
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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