MIRA INFORM REPORT

Report No. :	320230
Report Date :	04.05.2015

IDENTIFICATION DETAILS

Name :	M LAMBERT Y COMPAÑÍA SUCESORES, S.A. DE C.V.
Registered Office :	Plásticos No 28, Naucalpan, Estado de México 53569
Country :	Mexico
Year of Establishment :	1947
Legal Form :	Sociedad Anónima de Capital Variable
Line of Business :	Manufacturer of Textile Industry
No. of Employees :	180

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:

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ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 21 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 46 countries - 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 two years in office, passing and implementing education, energy, financial, fiscal and telecommunications reform legislation, among others, with the aim to improve competitiveness and economic growth across the Mexican economy. Although the economy is expected to experience stronger growth in 2015 as a result of increased investment and stronger demand for Mexican exports, growth will continue to remain modest and below expectations. Over the medium-term, the economy is vulnerable to global economic pressures, such as rising interest rates and low oil prices—which account for about 30 percent of government revenue.

Source : CIA

Company Name and address
Order:	LAMBERT Y CIA SUCS SA DE CV
Address in the order	Plasticos No 28, Col San Francisco Cuautalpan 53569 Naucalpan EDO De, Mexico
Legal Name:	M Lambert Y Compañía Sucesores, S.A. De C.V.
Trade Name:	M Lambert y Cia
RFC:	NA
Date Created:	1947
Date Incorporated:	May 2, 1882
Legal Address:	Plásticos No 28 Naucalpan, Estado de México 53569 México
Operative Address:	Plásticos No 28 Naucalpan, Estado de México 53569 México
Telephone:	52 55 2122 1349
Fax:	52 55 5359 3950
Legal Form:	Sociedad Anónima de Capital Variable
Email:	NA
Registered in:	Mexico
Website:	www.lambertex.com.mx
Contact:	Graciano Guichard Martin , Director
Staff:	180
Activity:	Textile Manufacturing Industry
Status:	Active
BANK DATA
BANAMEX The company does not make its banking data public
HISTORY
The company was founded in May 2, 1882 by Agustin Aye, Mateo Lambert and Casimiro Reynaud.
PRINCIPAL ACTIVITY
The company is dedicated to the manufacture and wholesale of cloth and clothes.
Products/Services description:	Lady clothes Children's clothes Male clothes Cloth
Brands:	LAMBERTEX
Sales are:	Wholesale and retail
Clients:	Industrias Unidas, S.A. El Salvador
Suppliers:	PILANI OVERSEAS India
Operations area:	National and International
The company imports from	India
The company exports to	Canada, El Salvador, USA, Guatemala and Costa Rica
The subject employs	180 Employees
Payments:	No complaints
LOCATION
Headquarters :	Plásticos No 28 Naucalpan, Estado de México 53569 México
Branches:	Guadalajara Pedro Moreno 1705 3er piso Sector Juarez. Jalisco Guadalajara Monterrey Edificio Villa Plata Rio de la Plara 103 Local 31 San Pedro Garza Garcia
Industry:	Companies in this industry operate mills that produce textiles and textile products from natural and synthetic materials Demand is driven by the domestic apparel industry and consumer demand for home furnishings like carpets, furniture, and curtains. The profitability of individual companies depends on efficient operations. Large companies have economies of scale in production for high-volume items. Small companies can compete successfully by producing specialized textiles. Major products are yarns and threads, fabrics, carpets, and curtains. The industry produces yarns and threads out of natural (wool and cotton) and synthetic (plastics) materials. Yarns and thread are used to produce fabrics that are woven or knit, finish fabrics by dyeing or coating them, and make fabrics into simple finished consumer products like rugs, carpets, curtains, linens, and textile bags. Carpets and rugs account for 17 percent of US industry revenue; nonwoven fabrics, 15 percent; broadwoven fabrics, 8 percent; and yarn products, 8 percent.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is a private company. Major holder would be Graciano Guichard Martín.
Management:	Graciano Guichard MartíN, Director Graciano Guichard Michel, Subdirector René Guichard Michel, Subdirector Pablo Corona MartíNez, Manager Francisco J. Azpiazu GóMez, Financials Maribel FernáNdez Ventura, Administrative Alberto Calvo, Accountant
Related Companies:	El Puerto De Liverpool Sab De Cv Avenida Mariano Escobedo 425 Chapultepec Morales Mexico, DF 11560 Miguel Guichard Michel Co-Vice Chairman
FINANCIAL INFORMATION
The company is private and does not publish its financial figures.
USD 2013
Revenue	4 620 000
Cash	Normal
LEGAL FILINGS
There are no financial connected to the subject
SUMMARY
M. Lambert and co., Sucs., S.A. de C.V. is a private company dedicated to the manufacture of textile products. With 170 employees, the company is much larger than the average gender and articles companies in pieces. It has more than 100 years of experience in the market withour negative.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	NA
POSITION	Sales
COMMENTS	The person contacted confirmed address and managers.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.58
UK Pound	1	Rs.97.99
Euro	1	Rs.70.53

INFORMATION DETAILS

Analysis Done by :	DIV
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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