MIRA INFORM REPORT

Report No. :	346793
Report Date :	28.10.2015

IDENTIFICATION DETAILS

Name :	CORPORACION UMED S A
Registered Office :	11 Avenida 15-09 20 NA 10 01010 Ciudad De Guatemala
Country :	Guatemala
Date of Incorporation :	Not Available
Legal Form :	Sociedad Anonima
Line of Business :	Subject operating as a pharmaceutical store.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Guatemala	B1	B1

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

GUATEMALA - ECONOMIC OVERVIEW

Guatemala is the most populous country in Central America with a GDP per capita roughly one-half that of the average for Latin America and the Caribbean. The agricultural sector accounts for 13.7% of GDP and 32% of the labor force; key agricultural exports include sugar, coffee, bananas, and vegetables. The 1996 peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, and since then Guatemala has pursued important reforms and macroeconomic stabilization. The Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) entered into force in July 2006, spurring increased investment and diversification of exports, with the largest increases in ethanol and non-traditional agricultural exports. While CAFTA-DR has helped improve the investment climate, concerns over security, the lack of skilled workers, and poor infrastructure continue to hamper foreign direct investment. The distribution of income remains highly unequal with the richest 20% of the population accounting for more than 51% of Guatemala's overall consumption. More than half of the population is below the national poverty line, and 13% of the population lives in extreme poverty. Poverty among indigenous groups, which make up more than 40% of the population, averages 73%, with 22% of the indigenous population living in extreme poverty. Nearly one-half of Guatemala's children under age five are chronically malnourished, one of the highest malnutrition rates in the world. Guatemala is the top remittance recipient in Central America as a result of Guatemala's large expatriate community in the United States. These inflows are a primary source of foreign income, equivalent to one-half of the country's exports or one-tenth of its GDP. In November 2014 along with his counterparts from El Salvador and Honduras, President PEREZ MOLINA announced the “Plan of the Alliance for Prosperity in the Northern Triangle.” This plan seeks to address the challenges facing the three Northern Triangle countries, including steps the governments will take to stimulate economic growth, increase transparency and fiscal responsibility, reduce violence, modernize the justice system, improve infrastructure, and promote educational opportunities over the next several years.

Source : CIA

STATUTORY INFORMATION
Legal Name:	CORPORACION UMED S A
Trade Name:	NA
ID:	NA
Date Created:	NA
Date Incorporated:	NA
Legal Address:	11 Avenida 15-09 20 NA 10 01010 Ciudad De Guatemala, Guatemala
Operative Address:	11 Avenida 15-09 20 NA 10 01010 Ciudad De Guatemala, Guatemala
Telephone:	NA
Fax:	NA
Legal Form:	Sociedad Anonima
Email:	NA
Registered in:	Guatemala
Website:	NA
Manager:	NA
Staff:	NA
Activity:	NA
SIC Codes:	NA
NAICS Codes:	NA
BANKS
Name of the Bank:	Banco Central de Guatemala
	The company does not make its banking information public
HISTORY
	The company started business in 2010
PRINCIPAL ACTIVITY
	We have not found Corporacion Umed S A as being an incorporated company in Guatemala. We could only confirm that the company would be operating as a pharmaceutical store. However; the Company is not listed with the Guatemala Chamber of Commerce. Not listed with the yellow pages. Not listed with the major credit bureaus.
Products/Services description:	NA
Brands:	NA
Sales are:	NA
Clients:	NA
Competitors:	NA
Suppliers:	NA
Operations area:	NA
The company imports from	NA
The company exports	NA
The subject employs	NA
Payments:	Unknown
LOCATION
Headquarters :	11 Avenida 15-09 20 NA 10 01010 Ciudad De Guatemala, Guatemala
Property:	No branches were found
Branches:	NA
Business Overview:	NA
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	NA
Management:	NA
FINANCIAL INFORMATION
	This is a provate company which does not make its financial statements public.
	No financial information has been found for the subject
LEGAL FILINGS
	No legal were connected to the subject
SUMMARY
	Despite our long searches we were unable to locate more information through outside sources of the Company. Please provide us with further information such as telephone numbers or email address in order to pursue the investigation.
RISK INFORMATION
Payments	Unknown
Cash	NA
ADVISED CREDIT	Guarantees
Indebtedness	NA
CALL
INTERVIEWEE	NA
POSITION	NA
COMMENTS	We have not found any telephone connected to the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.95
UK Pound	1	Rs.99.73
Euro	1	Rs.71.84

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

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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