MIRA INFORM REPORT

Report No. :	346932
Report Date :	28.10.2015

IDENTIFICATION DETAILS

Name :	EXCEL QUIMICA, S.A. DE C.V.
Registered Office :	Condor # 4 - 301 Las Arboledas Atizapan de Zaragoza, Estado de Mexico CP 52950
Country :	Mexico
Date of Incorporation :	1977
Legal Form :	Sociedad Anonima de Capital Variable
Line of Business :	Wholesale of chemical products and solutions.
No. of Employees :	18

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 :	Slow but correct
Litigation :	Clear

NOTES:

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ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Mexico	A2	A2

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

STATUTORY INFORMATION

Legal Name:	EXCEL QUIMICA, S.A. DE C.V.
Trade Name:	EXCEL QUIMICA
RUC:	EIN-140204-DL5
Date Created:	1977
Date Incorporated:	1977
Legal Address:	Condor # 4 - 301 Las Arboledas Atizapan de Zaragoza, Estado de Mexico CP 52950 Mexico
Operative Address:	Condor # 4 - 301 Las Arboledas Atizapan de Zaragoza, Estado de Mexico CP 52950 Mexico
Telephone:	52 55 5378 3315
Fax:	52 55 5578 3315
Legal Form:	Sociedad Anónima de Capital Variable
Email:	mail@excelquimica.com.mx
Registered in:	Mexico
Website:	www.excelquimica.com.mx
Contact:	Juan Rubén Silva Galván, General Manager
Staff:	18
Activity:	INDUSTRIAL CHEMICALS
BANKS	BANAMEX
	The company does not make its banking data publi
History
	It was founded in 1977
PRINCIPAL ACTIVITY
	The company is dedicated to the wholesale of chemical products and solutions.
Products/Services description:	Covering Paintings Inks Textured Pegazulejos Adhesives Electrodes Sintered Brazing Plastics
Brands:	falcon lorama engelhard gibraltar scm jrs lansco millennium amtex american_gilsonite 3m
Sales are:	Wholesale
Clients:	Chemical Industry
Suppliers:	Shenghua Group Deqing Huayuan Pigment Co., Ltd China Falcon Technologies Inc. USA
Operations area:	National
The company imports from	Asia, USA
The company exports to	No exports
The subject employs	18 employees
Payments:	Slow but correct
LOCATION
Headquarters :	Condor # 4 - 301 Las Arboledas Atizapan de Zaragoza, Estado de Mexico CP 52950 Mexico
Branches:	Iztaccihuatl # 18 San Javier Tlalnepantla Estado de Mexico, Mexico C.P. 54030 Tel. + 52 55 5390 9504
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. Major holder is Juan Rubén Silva Galván.
Management:	Juan Rubén Silva Galván, General Manager Alicia Flores Gómez, Administrative Manager
FINANCIAL INFORMATION
	This is a private company which does not make its financials public.
	The person contacted refused to confirm financial figures for the subject.
LEGAL FILINGS
	There are no legal for the subject
SUMMARY
	The company is dedicated to the wholesale of chemical products and solutions. It has 38 years of experience in the market with a small sized structure. It mainly imports from Asia and operates nationally. There are no negative records for the subject.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Slow but correct
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Karina Ramirez
POSITION	Administrative
COMMENTS	She confirmed address, branches, managers, shareholder, staff, ID, experience and payment terms. She refused to provide financial figures.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.96
UK Pound	1	Rs.99.73
Euro	1	Rs.71.84

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TRU

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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