MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SAL WEDDING DRESSES AND GOWNS LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.5.2000 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designers, manufactures and marketers of wedding dresses and night gowns. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
SAL WEDDING DRESSES AND GOWNS LTD.
TEL AVIV 67778
Telephone 972 3 688 01 88
Fax 972 3 687 04 50
Also trading as
SAL BRIDAL WEAR & EVENINGS GOWNS LTD.
HISTORY
A private limited company, incorporated as per file No. 51-295807-5 on the 24.5.2000.
SHARE CAPITAL
Authorized share capital
SHAREHOLDERS
1. BRIDGE EXPORT (ISRAEL) LTD., 50%, owned by David Loewenstein,
2. Mrs. Pnina Assis (Loewenstein), 50%, wife of David.
DIRECTORS
1. David Loewenstein, General Manager,
2. Mrs. Pnina Assis, fashion designer.
BUSINESS
Designers, manufactures and marketers of wedding dresses and night gowns.
Also operating a retails store for the said products, under the name "Pnina Tornai".
Operating from rented premises (offices and plant), on an area of 300 sq. meters, in 4 Rival Street, Tel Aviv and from a retail store , rented, on an area of 100 sq. meters, in 179 Ben Yehuda Street, Tel Aviv.
Having in all 40 employees.
MEANS
Financial data not forthcoming.
There are 5 charges for unlimited amounts registered on the
company's assets, in favor of Bank
Leumi LeIsrael Ltd., Bank Hapoalim Ltd. and Mizrahi Tefahot Bank Ltd.
ANNUAL SALES
Sales figures not forthcoming
OTHER COMPANIES
David Loewenstein also has holdings in the following companies:
BRIDGE EXPORT (ISRAEL) LTD. (fully owned)
BRIDGE FILTERS LTD., (partly owned), manufacturing, export and marketing of fuel filters for motor vehicles.
BANKERS
Bank Hapoalim Ltd.,
Hatzafon Branch (No. 602), Tel Aviv, acount No. 6570.
A check with the
Central Banks' database did not reveal any negative information regarding
subject's a/m account.
Mizrahi Tefahot
Bank Ltd., Afula Branch (No. 474), Afula.
CHARACTER AND
REPUTATION
Nothing unfavorable learned.
We called subject
several times and tried to speak with its owners, Mr. David Loewenstein or Mrs.
Pnina Assis, however they were always unavailable and later they traveled again
abroad.
Subject is a
leading business in its field, and the "Pnina Tornai" brand is
well-known, being one of the most prestigious designers of wedding gowns.
SUMMARY
Notwithstanding the
lack of financial data, considered good for trade engagements.
Maximum unsecured credit recommendation US$ 50,000.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)