MIRA INFORM REPORT

Report No. :	307893
Report Date :	16.02.2015

IDENTIFICATION DETAILS

Name :	HATLEY – LITTLE BLUE HOUSE INC.
Registered Office :	860 90^th Avenue, Montreal, Quebec H8R 3A2
Country :	Canada
Date of Incorporation :	20.11.1985
Legal Form :	Corporation – Profit
Line of Business :	Importer and wholesaler of clothing, giftware, and more
No. of Employee :	120

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)
Canada	A1	A1

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

CANADA ECONOMIC OVERVIEW

As a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US, its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian merchandise exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its abundant natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-13 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly expanding, because Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada now ranks third in the world in proved oil reserves behind Saudi Arabia and Venezuela.

Source : CIA

Company name and address

HATLEY – P’TITE MAISON BLEUE INC. (in French)

HATLEY – LITTLE BLUE HOUSE INC. (in English)

Address: 860 90^th Avenue, Montreal, Quebec H8R 3A2 - Canada

Telephone: +1 514-272-8444

Fax: +1 514-272-0989

Website: www.hatley.com

Corporate ID#: 1143133529

State: Quebec

Judicial form: Corporation – Profit

Date incorporated: 11-20-1985

Stock: -

Value: -

Name of manager: Christopher OLDLAND

ACTIVITIES & OPERATIONS

IST

Business:

The Company is importer and wholesaler of clothing, giftware, and more.

No name of foreign suppliers available.

Staff: 120

Operations & branches:

At the headquarters, we find a warehouse and office.

SHAREHOLDERS & MANAGERS

Shareholders:

1^st shareholder:

HATLEY HOLDINGS INC.

404 Avenue Spandina, Apt 49

Toronto, Ontario M5V 2J1 - Canada

2^nd shareholder:

Jeremy OLDLAND

510 Avenue Grosvenor, Wesmount, Quebec H3Y 2S4

3^rd shareholder:

Christopher OLDLAND

339 Avenue Kensington, Westmount, Quebec H3Z 2H2

Management:

Christopher OLDLAND is the President, Director and CEO.

As far as we know, he is involved in other corporations, including:

HATLEY HOLDINGS INC.

404 Avenue Spandina, Apt 49

Toronto, Ontario M5V 2J1 - Canada

FINANCIALS

In Canada, privately held corporations are not required to publish any financials.

On a direct call, a financial assistant controlled the present report.

Sales declared for year 2014 is in the range of CAD 20,000,000=

The business is profitable.

Banks: Banque de Montreal

…

LEGAL FILINGS

Legal filings & complaints:

As of today date, there is no legal filing pending with the Courts.

Secured debts summary: None

COMPANY CREDIT HISTORY

Trade references:

Date reported: January 2015

High credit: CAD 12,000

Now owing: 0

Past due: 0

Last purchase: December 2014

Line of business: Office supply

Paying status: On terms

Date reported: January 2015

High credit: CAD 200,000

Now owing: 0

Past due: 0

Last purchase: December 2014

Line of business: Payroll

Paying status: As agreed

Date reported: January 2015

High credit: CAD 800

Now owing: 0

Past due: 0

Last purchase: December 2014

Line of business: Telecommunications

Paying status: On terms

Domestic credit history:

Domestic credit history appears as follow:

Monthly Payment Trends - Recent Activity

Date	Balance	Current	Up to 30 DBT	31-60 DBT	61-90 DBT	>90 DBT
08/14	$6,700	100%	0%	0%	0%	0%
09/14	$6,500	100%	0%	0%	0%	0%
10/14	$6,600	100%	0%	0%	0%	0%
11/14	$7,100	100%	0%	0%	0%	0%
12/14	$6,900	100%	0%	0%	0%	0%
01/15	$7,300	100%	0%	0%	0%	0%

National Credit Bureaus gave a satisfying credit rating.

According to our credit analysts, during the last 6 months, domestic payments were made on due date.

Other comments:

The Company maintains its business.

The bank confirmed a regular account.

The Company is in good standing.

This means that all local and federal taxes were paid on due date.

Last report was filed on 03-27-2014.

The risk is low.

Our opinion:

A business connection may be conducted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.14
UK Pound	1	Rs.95.78
Euro	1	Rs.71.05

INFORMATION DETAILS

Analysis Done by :	DIV
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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