EFTA01367119.pdf

Amendment #4 Page 690 of 868 ro credit risk because their main customers have payrrert penode a 30 days on average, rot hanng had problems meanings ccllectons The Company places as excess liquidity n presbgous hnanoal ins/futons, prcnndes caservathe credit policies and Corr:tarty evaluates existing cocettore n the market n whch it operates. Accordrely, the Company does not anticipate sonficant le6See arising from the nsk (a) Create Ask assootated min (a 1) Trade receivables The Company assesses conoentratons d crectt nsk related to tre trade accounts recerrable The Company performs an assessment over te risk of recoverability of its accuses receivables n order to determine the appropriate allowance for doubtful accounts The maxmun exposure to credit nsk al December 31, 2014, is re carryng value of each class el trade accounts receivable, see note 6 As of December 31, 2014, 4 customers represent 72 percent of the trade accounts receivable Management of the Compeer believes that there is no signfielint Credit rek because customers of the Compeer are renowned in tip local nark« and are regulated (a 2) Finareal instruments and <AM deposits This risk is managed by the Arthinstratien acccrdng to corporate polices determined by its Principal, in order to minenize the concentration of nsks and trerefore mandate financial loss through courtropertys potential fetus to make payments. The Company s maxmun exposure to neat nsk fa the components of the statement of financial posten at 31 Deserter 2014 and 2013 e the carrying snout of -Cain and cash °gaveled's* Lietatlity ask The Company monters its nsk of finds ahortage try using a Morfiterm and long-term protected cash New. The Company's objective is to keep certain funds catenary and Om:billy through an adequate quantity of commuted credt sources and the ablity to settle transactions, mainly those of indebtedness The Company has starved crest capacity to have access to credit Ines from first-level (cancel entities and 'Sider reasonable conditions Tre foaming table presents the mattritts of the obligates contracted by the Company al tre date of the statement of financial position and tre amounts to dial:puree al that maturity. based on the non-dscareed payments to be made 9314 Less then 1 year Between 1 and 3 years More then Syers total N. Loans and Borrowings (including flerest) 15.030,022 54.578,759 22,148.539 291,807,320 Trade accounts payable 556,930 — — 556,930 Accounts payable to related enact 9.866.055 5,897,369 — 15.763.C4 Cease accounts payable 241.897 — — 241197 25744.904 60.476,128 22,148.539 306,389,571 F-370 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058647 CONFIDENTIAL SDNY_GM_00204831 EFTA01367119