Spreadsheet: richard_shapiro__32125__TRAssumptions&SIRESERatesCase
Sheet: NewCaseB-S

Transredes S.A., 10/05/01 Rates
Balance Sheet (US$ Thousands)
 |  | 2000 | 2001 | 2002 | 2003 | 2004 | 2005
Current Assets
 | Cash and Time Deposits | 36373 | 4999.999999999952 | 4999.999999999924 | 4999.999999999909 | 4999.999999999913 | 4999.999999999898
 | Debt Service Reserve Account | 0 | 5176.928364025717 | 8968.874556414976 | 24334.94013377363 | 28268.45826654263 | 29968.7414171385
 | Fiscal Credit Notes | 27 | 0 | 0 | 0 | 0 | 0
 | Accounts Receivable-Trade | 5480 | 6148.542447025538 | 8854.276572467195 | 9491.658571329435 | 10191.85236727921 | 11953.81825564177
 | Other Acc Receiv. | 13664 | 14068.6824262576 | 10712.1080534313 | 13094.32389150866 | 12443.98630828189 | 10466.70213169416
 | Inventory | 8968 | 7000 | 7000 | 7000 | 7000 | 7000
 | Prepaid VAT | 3807 | 5128.208451902741 | 0 | 0 | 0 | 0
 | Other Current Assets | 3650 | 3750 | 3850 | 3950 | 4050 | 4150
 | Total Current Assets | 71969 | 46272.36168921155 | 44385.2591823134 | 62870.92259661164 | 66954.29694210364 | 68539.26180447433
Fixed Assets
 | Fixed Assets - Opening Balance | 405540 | 450293.6881 | 522289.633746096 | 560557.7162920526 | 623497.0092569907 | 679942.4146878223
 | Accumulated Depreciation | -63581 | -86103.0457870549 | -109872.7571512527 | -135981.4628739423 | -165150.0359261159 | -191167.0520964332
 | Fixed Assets - Closing Balance | 341959 | 364190.6423129451 | 412416.8765948433 | 424576.2534181103 | 458346.9733308748 | 488775.3625913891
Other Assets
 | Work in Progress-TRSA | 42418 | 70351.13616257596 | 37476.27105079305 | 62151.42741992298 | 55651.99753780372 | 35873.61342391372
 | Investments in Other Companies | 5095 | 3930.319212441206 | 8893.221212168339 | 14768.96632020763 | 18626.59693801421 | 23019.83597215526
 | Loans to Other Companies | 63806 | 63591.56028011628 | 67465.96310348513 | 65815.49758160675 | 51234.47096118107 | 42600.23804795967
 | Deferred Account | 141933 | 157573.0569896601 | 149515.415206216 | 141873.3200708933 | 134520.1585567418 | 126593.6488660868
 | Total Other Assets | 253252 | 295446.0726447935 | 263350.8705726624 | 284609.2113926307 | 260033.2239937408 | 228087.3363101155
TOTAL ASSETS |  | 667180 | 705909.0766469501 | 720153.0063498192 | 772056.3874073527 | 785334.4942667193 | 785401.9607059788
Current Liabilities
 | Accounts Payable-Trade | 1906 | 1836.183278223901 | 1876.748530940009 | 1842.488523276334 | 1793.900301240709 | 1709.135335076033
 | Accounts Payable-Other | 910 | 910 | 910 | 910 | 910 | 910
 | Accrued Liabilities | 31998 | 15701.44030605306 | 10712.58608014695 | 14248.82046559299 | 13236.22115430011 | 10189.92498410068
 | VAT Payable | 0 | 0 | 552.9889817058556 | 428.5620959563166 | 591.2921690711655 | 1012.949084610613
 | Other Taxes Payable | 408 | 408 | 408 | 408 | 408 | 408
 | Labor Short Term Benefits | 2214 | 2214 | 2214 | 2214 | 2214 | 2214
 | Other Interest Payable | 2256 | 2256 | 2256 | 2256 | 2256 | 2256
 | Short Term portion of Debt | 33782 | 16125.62277030434 | 18242.84503795623 | 42742.28314368548 | 44051.44607463298 | 44936.85607649275
 | Total Current Liabilities | 73474 | 39451.24635458131 | 37173.16863074905 | 65050.15422851112 | 65460.85969924496 | 63636.86548028007
Long Term Liabilities
 | Labor Long Term Liability | 4388 | 4388 | 4388 | 4388 | 4388 | 4388
 | Long Term Debt - Existing | 142575 | 126449.3772296957 | 112118.6402451707 | 99582.78904642523 | 91381.7612250141 | 85962.02553343735
 | Long Term Debt - New | 0 | 80000 | 115208.9724808817 | 147945.7794510284 | 168535.2242806254 | 165685.125212651
 | Deferred Tax to Compensate | -39902 | -45148.29955645516 | -45928.48765284786 | -48128.21195387605 | -50325.26235163333 | -48536.87562408197
 | Deferred Tax Liability Over Temp Diff | 49933 | 58014.5107421875 | 60870.6689453125 | 65961.2412109375 | 71315.78125 | 77617.134765625
 | Total Long Term Liabilities | 156994 | 223703.588415428 | 246657.7940185171 | 269749.597754515 | 285295.5044040062 | 285115.4098876314
TOTAL LIABILITIES |  | 230468 | 263154.8347700093 | 283830.9626492661 | 334799.7519830262 | 350756.3641032511 | 348752.2753679114
Equity
 | Share Capital | 361055 | 361055 | 361055 | 361055 | 361055 | 361055
 | Legal Reserve | 4810 | 5400.81789486453 | 6204.722122660126 | 7209.741865462343 | 8414.342787925127 | 11089.11525923002
 | [NAME] | 70847 | 76298.42385958512 | 69062.32140390978 | 68991.8934678293 | 65108.78650432339 | 64505.56866853374
 | Total Equity | 436712 | 442754.2417544496 | 436322.0435265698 | 437256.6353332914 | 434578.1292922482 | 436649.6839277633
TOTAL LIABILITIES & EQUITY |  | 667180 | 705909.076524459 | 720153.0061758358 | 772056.3873163175 | 785334.4933954993 | 785401.9592956747
[NAME] |  | 0 | 0.0001224911538884044 | 0.000173983396962285 | 9.103515185415745e-05 | 0.0008712200215086341 | 0.001410304103046656