MIRA INFORM REPORT

Report No. :	304168
Report Date :	29.01.2015

IDENTIFICATION DETAILS

Name :	NUEVA GALATEA S.A. DE C.V.
Registered Office :	Diagonal 20 De Noviembre 346-350, Col Obreba
Country :	Mexico
Date of Incorporation :	1983
Legal Form :	Sociedad Anónima de Capital Variable
Line of Business :	Wholesale distribution of piece goods or yard goods of natural or manmade fibers.
No. of Employee :	50

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)
Mexico	A2	A2

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

MEXICO ECONOMIC OVERVIEW

Mexico's $1.3 trillion economy has become increasingly oriented toward manufacturing in the 20 years since the North American Free Trade Agreement (NAFTA) entered into force. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Mexico has become the United States' second-largest export market and third-largest source of imports. In 2013, two-way merchandise trade reached nearly $507 billion. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership negotiations and formed the Pacific Alliance with Peru, Colombia and Chile. Mexico's current government, led by President Enrique PENA NIETO, emphasized economic reforms during its first year in office, passing education, energy, financial, fiscal and telecommunications reform legislation. The three-party "Pact for Mexico" reform agenda aims to improve competitiveness and economic growth across the Mexican economy.

Source : CIA

STATUTORY INFORMATION
Order:	NUEVA GALATEA S.A. DE C.V.
Address in the order:	Diagonal 20 De Noviembre 346-350, Col Obreba, Mexico
Legal Name:	Nueva Galatea S.A. De C.V.
Trade Name:	Nueva Galatea
RNC:	NGA-831111-624
Date Created:	1946
Date Incorporated:	1983
Legal Address:	Diagonal 20 De Noviembre No. 346-350, Obrera, Cuauhtémoc, 06800 Ciudad de México, D.F., México
Operative Address:	Diagonal 20 De Noviembre No. 346-350, Obrera, Cuauhtémoc, 06800 Ciudad de México, D.F., México
Telephone:	52-5555889311
Fax:	52-5555882413
Legal Form:	Sociedad Anónima de Capital Variable
Email:	NA
Registered in:	Mexico
Website:	No website
Manager:	Jaime Arrieta Noriega
Staff:	50
Activity:	Apparel & Textile Products
BANKS	BANAMEX
	The company does not make its banking data public
HISTORY
	Nueva Galatea, S.A. De C.V. was founded in 1946.
PRINCIPAL ACTIVITY	Nueva Galatea Sa De Cv is a Mexican company dedicated to sale of fabrics. The Company's line of business includes the wholesale distribution of piece goods or yard goods of natural or manmade fibers.
Products/Services description:	Synthetic fabrics Gauze, filter cloths Women's clothes Underwear and Sleepwear for Women Clothing for men Men's underwear Children's clothing Underwear & Sleepwear Kids Baby Clothes Underwear and pajamas for babies Socks and tights Swimwear and Beachwear Sportswear, by type of sport Sportswear and sports Traditional theater and Apparel Clothing, waterproof, for tissue and use Leather garments and leather Ties, scarves, scarves and shawls Workwear and unifores for use Protective clothing and safety at work by type of tissue
Brands:	NA
Sales are:	Wholesale
Clients:	Clothes Stores
Suppliers:	SHAOXING COUNTY DONGTAI IMP.AND EXP China GRANTEX CO., LTD. Taiwan ORIENTEX PRECISION INDUSTRIAL CO. Taiwan HI-TEC INDUSTRIAL CO,.LTD. Taiwan
Operations area:	National
The company imports from	Asia
The company exports to	No exports
The subject employs	50 employees
Payments:	Regular
LOCATION
Headquarters :	Diagonal 20 De Noviembre No. 346-350, Obrera, Cuauhtémoc, 06800 Ciudad de México, D.F., México
Branches:	The company does not have branches
Industry:	Companies in this sector serve as wholesale distributors of nondurable or durable goods, typically specializing by product. For most distributors, demand is closely linked to local economic activity. The profitability of individual companies depends on efficient inventory management and order fulfillment operations. Large companies can supply customers with a wider range of goods and in more markets, but smaller distributors can compete successfully by carrying specialty products or providing add-on services. The major segments of the US wholesale sector are distribution of nondurable goods (55 percent of industry revenue) and durable goods (45 percent). Leading categories of nondurable goods segments are groceries, petroleum products, and drugs. The largest durable goods categories are professional and commercial equipment, motor vehicles and parts, machinery, and electrical goods.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is a private company. Despite our long search, we could not confirm major holder.
Management:	Jaime Arrieta Noriega, Director Juan Delfin, Sales
Related Companies:	No subsidiary companies
FINANCIAL INFORMATION
	This is a private company which does not make its financial figures public. The following information has been provided by outside sources.
USD 2013
Revenue	1 284 3000
Cash Flow	Normal
LEGAL FILINGS
	There are no legal filings connected to the subject
SUMMARY
	Nueva Galatea is a textile wholesaler located in Mexico which has more than 50 years of experience in the market. It has a small-medium sized structure and no negative. However, the company has a quite low commercial profile.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	Active
ENTERVIEW
NAME	NA
POSITION	NA
COMMENTS	We tried to contact the company several times but received no response.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.41
UK Pound	1	Rs.93.18
Euro	1	Rs.69.82

INFORMATION DETAILS

Analysis Done by :	RAS
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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.