MIRA INFORM REPORT

Report No. :	495991
Report Date :	05.03.2018

IDENTIFICATION DETAILS

Name :	GRUPO NYLTEX, S.A. DE C.V.
Registered Office :	Escape 36-B, Naucalpan, Estado de México, C.P. 53370 México
Country :	Mexico
Date of Incorporation :	1990
Legal Form :	Variable Capital Corporation
Line of Business :	Subject is a Textile Company
No. of Employees :	65

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Mexico	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

MEXICO - ECONOMIC OVERVIEW

Mexico's $2.2 trillion economy has become increasingly oriented toward manufacturing since the North American Free Trade Agreement (NAFTA) entered into force in 1994. Per capita income is roughly one-third that of the US; income distribution remains highly unequal.

Mexico has become the US' second-largest export market and third-largest source of imports. In 2016, two-way trade in goods and services exceeded $579 billion. Mexico has free trade agreements with 46 countries, putting more than 90% of trade under free trade agreements. In 2012, Mexico formed the Pacific Alliance with Peru, Colombia, and Chile.

Mexico's current government, led by President Enrique PENA NIETO, has emphasized economic reforms, passing and implementing sweeping energy, financial, fiscal, and telecommunications reform legislation, among others, with the long-term aim to improve competitiveness and economic growth across the Mexican economy. Mexico began holding public auctions of exploration and development rights to select oil and gas resources in 2015 as a part of reforms that allow for private investment in the oil, gas, and electricity sectors. Mexico held its fourth auction in December 2016 and allocated 8 of 10 deepwater fields, demonstrating Mexico’s capacity to attract investment amid low oil prices. The government will allocate additional fields in 2017.

Since 2013, Mexico’s economic growth has averaged 2% annually, falling short of private-sector expectations that President PENA NIETO’s sweeping reforms would bolster economic prospects. Growth is predicted to remain below potential given falling oil production, weak oil prices, structural issues such as low productivity, high inequality, a large informal sector employing over half of the workforce, weak rule of law, and corruption. Over the medium-term, the economy is vulnerable to global economic pressures, such as lower external demand, rising interest rates, and low oil prices - approximately 10% of government revenue comes from the state-owned oil company, PEMEX.

Source : CIA

STATUTORY INFORMATION
Legal Name:	GRUPO NYLTEX, S.A. DE C.V.
Trade Name:	NYLTEX
RFC:	GNY900124K70
Date Created:	1990
Date Incorporated:	1990
Legal Address:	Escape 36-B Naucalpan, Estado de México C.P. 53370 México
Operative Address:	Escape 36-B Naucalpan, Estado de México C.P. 53370 México
Telephone:	(55) 5576 2533 (55) 5359 4066 (55) 5359 4690
Fax:	(55) 5576 2533
Legal Form:	Variable Capital Corporation
Email:	contacto@nyltex.com
Registered in:	Mexico
Website:	www.nyltex.com
Contact:	Rafael Levy Camhi
Staff:	65
Activity:	Wholesale Sector Industry
Banks
BANAMEX
History
The company was founded in 1990
PRINCIPAL ACTIVITY
NYLTEX is a textile company.
Products/Services description:	Flat woven fabrics Pre-dyed Dyed Stamped Knitted fabrics Pre-dyed (interlock, jersey and pike) Dyed
Brands:	NYLTEX
Sales are:	Wholesale
Clients:	Industrias Topaz S.A. El Salvador Ventas Unidas, Sociedad Anonima. Guatemala TEXDORAL SA Colombia
Suppliers:	Grupo Altex S.A. De C.V. Mexico Roytex Sociedad Anonima Guatemala Buhler S.A. De C.V. Mexico
Operations area:	National and international
The company imports from	Switzerland, Thailand, India
The company exports to	El Salvador
The subject employs	65 employees
Payments:	No Complaints
LOCATION
Headquarters :	Escape 36-B Naucalpan, Estado de México C.P. 53370 México
Branches:	The company has no branches
Related Companies:	NA
Competitors:	Telas La Parroquia De Veracruz, S.A. De C.V. Tejidos Puebla, S.A. De C.V. Distribuidora San Alberto, S.A. De C.V.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. Major holder is Rafael Levy.
Management:	Rafael Levy Camhi, Sales Director Mauricio Nissan Abenchuch, Sales Manager Rafael Nissan Levy, Legal Representative BERENICE GARZA RUELAS, Administrative Assistant
FINANCIAL INFORMATION
The company does not make its financial statements public. Despite our long search, we could not confirm financial figures for the subject.
LEGAL FILINGS
CASES	02/27/2017 Grupo Nyltex S.A. Of C.V. Vs Grupo Fermak S de R.L. de C.V. Ex. Merc. Auto Archive. Exp. No. 712/2012.
SUMMARY
Founded in 1990, Grupo Nyltex, S.A. De C.V. is a mid-sized organization in the piece goods and notion companies industry located in Naucalpan, Mexico. It has 65 full-time employees. The company operates in the national and international area Grupo Nyltex, S.A. De C.V is ACTIVE without negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Carlos
POSITION	Trade
COMMENTS	He confirmed name, RFC, experience, staff and ownership.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50
MXN	1	INR 3.45

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SYL

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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