MIRA INFORM REPORT

Report No. :	300028
Report Date :	15.01.2015

IDENTIFICATION DETAILS

Name :	VILLA ANDINA S.A.C.
Registered Office :	JR. Pedro de Candia Nro. 120 DPTO. 301 (ALt Del Pte Primavera Espal Grifo primax) lima - Lima - Santiago De Surco
Country :	Peru
Date of Incorporation :	06.03.2007
Legal Form :	Sociedad Anonima Cerrada
Line of Business :	Manufacturer of Fruit & vegetables
No. of Employees :	25

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 25 000
Status :	Moderate
Payment Behaviour :	Slow but correct
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Peru	A2	A2

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

PERU - ECONOMIC OVERVIEW

Peru's economy reflects its varied topography - an arid lowland coastal region, the central high sierra of the Andes, the dense forest of the Amazon, with tropical lands bordering Colombia and Brazil. A wide range of important mineral resources are found in the mountainous and coastal areas, and Peru's coastal waters provide excellent fishing grounds. Peru is the world's second largest producer of silver and third largest producer of copper. The Peruvian economy has been growing by an average of 5.6% for the past five years with a stable exchange rate and low inflation, which in 2013 was just below the upper limit of the Central Bank target range of 1 to 3%. For the last three years, this growth was due partly to high international prices for Peru's metals and minerals exports, which account for almost 60% of the country's total exports. Despite Peru's strong macroeconomic performance, dependence on minerals and metals exports and imported foodstuffs makes the economy vulnerable to fluctuations in world prices. Peru's rapid expansion coupled with cash transfers and other programs have helped to reduce the national poverty rate by 28 percentage points since 2002, but inequality persists and continues to pose a challenge for the Ollanta HUMALA administration, which has championed a policy of social inclusion and a more equitable distribution of income. Poor infrastructure hinders the spread of growth to Peru's non-coastal areas. Peru's free trade policy has continued under the HUMALA administration; since 2006, Peru has signed trade deals with the US, Canada, Singapore, China, Korea, Mexico, Japan, the EU, the European Free Trade Association, Chile, Thailand, Costa Rica, Panama, Venezuela, concluded negotiations with Guatemala, and begun trade talks with Honduras and El Salvador, Turkey and the Trans-Pacific Partnership. Peru also has signed a trade pact with Chile, Colombia, and Mexico, called the Pacific Alliance, that rivals Mercosur. Since the US-Peru Trade Promotion Agreement entered into force in February 2009, total trade between Peru and the United States has doubled. Although Peru has continued to attract foreign investment, political activism and protests are hampering development of some projects related to natural resource extraction

Source : CIA

COMPANY NAME AND ADDRESS
Legal Name:	VILLA ANDINA S.A.C.
Trade Name:	VA
RUC:	20515405900
Date Created:	2007
Date Incorporated:	06/03/2007
Legal Address:	JR. PEDRO DE CANDIA NRO. 120 DPTO. 301 (ALT DEL PTE PRIMAVERA ESPAL GRIFO PRIMAX) LIMA - LIMA - SANTIAGO DE SURCO
Operative Address:	Av. Industrial 898, Cajamarca, Peru
Telephone:	51-1-7156335
Fax:	51-1-7188291
Legal Form:	SOCIEDAD ANONIMA CERRADA
Email:	info@villaandina.com
Registered in:	Peru
Website:	www.villaandina.com
Manager:	Pedro Martinto Housman
Staff:	25
Activity:	Fruit & vegetables manufacturer
BANKS	Banco del Perú
	The company does not make its banking data public
HISTORY
	Villa Andina is a social enterprise founded in 2007 with the aim of developing and commercializing agro-industrial food products.
PRINCIPAL ACTIVITY	Villa Andina (VA) is a processor and exporter of aguaymanto, an indigenous Andean variety of tomatillo,1 in Peru. VA is located in Cajamarca (Peru’s Northern Andes), where it purchases aguaymanto, as well as other indigenous products including mangos and specialty mushrooms, from its network of 700 indigenous small farmers
Products/Services description:	Super Foods Raw Organic Dried & Fresh Physalis / Goldenberry Raw Organic Dried Mango Raw Organic Maca Powder Raw Organic Cacao Nibs, Paste, Powder and Butter Raw Organic Quinoa Grains Raw Organic Dried Yacon Powder, Slices and Syrup Raw Organic Dried Banana Slices Raw Organic Mesquite Powder Raw Organic Camu-Camu Powder Villa Andina also offers the service of Private Label.
Brands:	VA / VILLA ANDINA
Sales are:	Wholesale
Clients:	Kh International Inc. USA UHTCO CORPORATIONUHTCO CORPORATION USA
Suppliers:	700 indigenous small farmers
Operations area:	National & International
The company imports from	No imports
The company exports to	USA and Germany
The subject employs	25 permanent employees (mostly women) 16 indirect jobs
Payments:
LOCATION
Headquarters :	Av. Industrial 898, Cajamarca, Peru
Comments:	Owned
Branches:	No branches connected
Industry:	Cajamarca is one of the main dairy production centers of Peru, but is also known as a production center of traditional native crops under organic agricultural standards. The lack of adequate storage facilities and general infrastructure, particularly in under-developed areas, make it difficult for small farmers to get access to markets. During the peak harvest time there is a seasonal oversupply of produce that often cannot be sold and that ends up as wastage; the farmer’s income is reduced and their financial situation becomes precarious. A solution to this problem is to subject the fresh produce to a dehydration process, and to convert it into a high quality product, whose nutritional values are both stable and long lasting. The technique of drying or dehydrating is a very old way of preserving food. In the Incan, Egyptian, and Chinese cultures, fruits and vegetables were dried in the sun to preserve them for the winter months. The advantage of drying is that the food product maintains most of its original nutritional value. Today, the technique of drying continues to play an important role in the Andean region as an alternative tool in poor, under-developed communities, since it facilitates storage and reduces wastage. Studies have shown that the volume of agricultural products lost due to spoilage during the post-harvest and arrival at the point of sale period is 70% in tropical and sub-tropical regions compared to only 5% in Europe.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is a private company. The major holders are: Pedro Martinto Housman Daniel Martinto Housman
Management:	Pedro Martinto Housman, Industrial Engineer Daniel Martinto Housman, Economist
Related Companies:	No subsidiary companies
FINANCIAL INFORMATION
	This is a private company which does not make its financial statements public. The following information has been provided by outside sources.
2013	USD
Revenue	700 000
Cash Flow	Normal
LEGAL FILINGS
	There are no legal/criminal connected to the subject
SUMMARY
	Villa Andina (VA) is a young Peruvian processor and exporter of aguaymanto. It has 7 years of experience in the market with a small sized structure. The company mainly exports to Germany and USA and works with local farmers distributors. There are no negative.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Slow but correct
CASH FLOW	Normal
SUGGESTED CREDIT LINE	USD 25 000
ENTERVIEW
NAME	NA
POSITION	Receptionist
COMMENTS	She confirmed owners, activity, staff and address, she did not have more data to provide and said the manager was not available.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.15
UK Pound	1	Rs.94.24
Euro	1	Rs.73.30

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIS

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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