MIRA INFORM REPORT

Report No. :	303155
Report Date :	24.01.2015

IDENTIFICATION DETAILS

Name :	LOGÍSTICA INTERNACIONAL S.A. DE C.V.
Registered Office :	KM 28.5 Carretera A Comalapa Parque Industrial Internacional SA DE CV, Edif 6, Olocuilta La Paz
Country :	El Salvador
Date of Incorporation :	18.09.2008
Legal Form :	Sociedad de Capital Variable
Line of Business :	Providing Logistics Services
No. of Employees :	30

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
El Salvador	B1	B1

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

EL SALVADOR - ECONOMIC OVERVIEW

The smallest country in Central America geographically, El Salvador has the fourth largest economy in the region. With the global recession, real GDP contracted in 2009 and economic growth has since remained low, averaging less than 2% from 2010 to 2013. Remittances accounted for 16% of GDP in 2013 and were received by about a third of all households. In 2006, El Salvador was the first country to ratify the Dominican Republic-Central American Free Trade Agreement (CAFTA-DR), which has bolstered the export of processed foods, sugar, and ethanol, and supported investment in the apparel sector amid increased Asian competition. The Salvadoran Government maintained fiscal discipline during post-war reconstruction and reconstruction following earthquakes in 2001 and hurricanes in 1998 and 2005, but El Salvador's external debt has been growing over the last several years, amounting to some 57% of GDP in 2013. In September 2013, El Salvador was awarded a $277 million second compact with the Millennium Challenge Corporation (MCC) - a United States Government agency aimed at stimulating economic growth and reducing poverty - to improve El Salvador's competitiveness and productivity in international markets.

Source : CIA

COMPANY NAME AND ADDRESS
Legal Name:	LOGÍSTICA INTERNACIONAL S.A. DE C.V.
Trade Name:	Logística Internacional, LOGINTER
NIT:	0614-100608-107-4
Date Created:	September 18, 2008
Date Incorporated:	2008
Legal Address:	KM 28.5 CARRETERA A COMALAPA PARQUE INDUSTRIAL INTERNACIONAL SA DE CV, EDIF 6, Olocuilta La Paz, El Salvador
Operative Address:	KM 28.5 CARRETERA A COMALAPA PARQUE INDUSTRIAL INTERNACIONAL SA DE CV, EDIF 6, Olocuilta La Paz, El Salvador
Telephone:	503-2314-9690
Fax:	503-2314-9690
Legal Form:	Sociedad de Capital Variable
Email:	info@loginter.com.sv
Registered in:	El Salvador
Website:	www.loginter.com.sv
Manager:	Ms. Gloria Esperanza Samayoa
Staff:	30
Activity:	Logistics Services
BANKS
Banco Central El Salvador
The company does not make its banking data public
HISTORY
The company started operating in 2008.
January 20, 2015 Commercial alliance with Loginter of El Salvador Recently Murchison (Uruguay) SA has signed a commercial alliance with Loginter of El Salvador. The latter is dedicated to logistical tasks throughout Central America. This is a business group that, through vertical integration of services, aims to offer customers solutions across the supply chain. The company has a strong infrastructure suitable for developing all kinds of work related to international logistics; own for international carriage of goods, deposits in San Marcos Free Zone and Free Zone International, plus tax warehouses trucks.
PRINCIPAL ACTIVITY
Company operating in El Salvador offering management in the development of logistics solutions custom-tailored.
Products/Services descripción:	CARGO TRANSPORTATION Land (National and International) Maritime Air FACILITIES Closed circuit TV cameras Magnetic and motion sensors Fire System All risk insurance coverage, up to detailed damage Double security: in the Free-Trade Zone perimeter and at the company facilities
Brands:	LOGINTER
Sales are:	Wholesale
Clients:	Nike do Brasil Comércio e Participações Ltda Brazil
Suppliers:	NA
Operations area:	National and International
The company imports from	Central America
The company exports to	Central America
The subject employs	30
Payments:	Regular
LOCATION
Headquarters :	KM 28.5 CARRETERA A COMALAPA PARQUE INDUSTRIAL INTERNACIONAL SA DE CV, EDIF 6, Olocuilta La Paz, El Salvador
Stores:	The company does not have branches
Industry:
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is a Private Company. The Major Holders Would be: Gloria Samayoa Edgar Alvayero
Management:	Gloria Samayoa, Manager Edgar Alvayero, Manager
Related Companies:	SUPERTEX EL SA
FINANCIAL INFORMATION
This is a private company which does not make its financials public. Despite our long search, we could not confirm financial figures for the subject.
LEGAL FILINGS
There are nolegal found for the subject
SUMMARY
LOGINTER is a cargo transportation company located in El Salvador and working through all Central America. The company has a small sized structure, it provides its services to well known clients and has recently been involved in a commercial alliance with an Uruguayan company. There are no negative for the subject.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	Active
ENTERVIEW
NAME	NA
POSITION	Administrative
COMMENTS	He confirmed address, managers and activity. He refused to provide financial data he said he had not that information adn the managers were not avialable.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.50
UK Pound	1	Rs.92.16
Euro	1	Rs.69.62

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	NIT

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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