MIRA INFORM REPORT

Report No. :	495880
Report Date :	08.03.2018

IDENTIFICATION DETAILS

Name :	A2S SARL
Registered Office :	Las Palmas Route de Nouadhibou, Not Med 0064, BP 2207, Nouakchott,
Country :	Mauritania
Date of Incorporation :	19.10.2008
Legal Form :	Societe Anonyme Responsabilitee Limitee
Line of Business :	Exporters of Fish.
No. of Employees :	30

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 :	Usually Correct
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)
Mauritania	B2	B2

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

MAURITANIA - ECONOMIC OVERVIEW

Mauritania's economy is dominated by extractive industries (oil and mines), fisheries and agriculture. Half the population still depends on farming and raising livestock, even though many nomads and subsistence farmers were forced into the cities by recurrent droughts in the 1970s, 1980s and 2000s. Recently, GDP growth has been driven largely by foreign investment in the mining and oil sectors.

Mauritania's extensive mineral resources include iron ore, gold, copper, gypsum, and phosphate rock, and exploration is ongoing for tantalum, uranium, crude oil, and natural gas. Extractive commodities make up about three-quarters of Mauritania's total exports, subjecting the economy to price swings in world commodity markets. Mining is also a growing source of government revenue, rising from 13% to 30% of total revenue from 2006 to 2016. The nation's coastal waters are among the richest fishing areas in the world, and fishing accounts for about 20% of budget revenues, 45% of foreign currency earnings. Mauritania processes a total of 1,800,000 tons of fish per year, but overexploitation by foreign and national fleets threaten the sustainability of this key source of revenue.

The economy is highly sensitive to international food and extractive commodity prices. Other risks to Mauritania's economy include its recurring droughts, dependence on foreign aid and investment, and insecurity in neighboring Mali, as well as significant shortages of infrastructure, institutional capacity, and human capital. Mauritania has sought additional IMF support by focusing efforts on poverty reduction. Investment in agriculture and infrastructure are the largest components of the country’s public expenditures.

Source : CIA

SUBJECT'S NAME
Registered Name:	A2S SARL
Requested Name:	A2S FISH (A2S GROUP)
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	Las Palmas Route de Nouadhibou, Not Med 0064
Postal Address:	BP 2207,
	Nouakchott,
Country:	Mauritania
Phone:	222-45241079
Fax:	222-45240059
Email:	info@a2sgroup.com
Website:	www.a2sgroup.com
CREDIT OPINION
Financial Index as of December 2017 shows subject firm with a medium risk of credit. However, bank and credit information obtained reveal a history of prompt payments.
LEGAL
Legal Form:		Societe Anonyme Responsabilitee Limitee
Date Incorporated:		19-Oct-2008
Reg. Number:		--
Nominal Capital		MRO. 1,000,000
Subscribed Capital		MRO. 1,000,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Yahya Mohamed		Director
Souleimane Traoré		Manager
Mariem Mohamed Senny		Manager
A2sgroup		Holding Co.		100%
RELATED COMPANIES
A2sgroup		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to operate as exporters of fish.
Imports:		Middle East, Europe
Exports:		None
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		firms and organizations
Employees:		30 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Mauritania
Location:		Rented premises, 10,000 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Mauritania Ouguiya (MRO)
Fiscal Year End:		December 31, 2017
Inflation:		According to information given by independent sources, the inflation at December 31st, 2017 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in MRO.)
			2017
Sales			650,000,000
BANK
Bank Name:		Banque Al Wava Mauritanienne Islamique (BAMIS)
Branch:		Mauritania
Comments:		None
TRADE REFERENCES
Experiences:		Good
NOTARIAL BONDS None
COMMENTS/ ADDITIONAL INFORMATION
This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.96
UK Pound	1	INR 90.34
Euro	1	INR 80.75
MRO	1	INR 0.18

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

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	NIT

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.