MIRA
INFORM REPORT
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Report Date : |
31.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
BRIDGES
EQUIPMENT LTD. |
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Registered Office : |
2122
Maurice Road, Odessa, Texas 79763 |
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Country : |
United
States |
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Date of Incorporation : |
21/07/1988 |
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Legal Form : |
General
Partnership |
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Line of Business : |
Distributor
of new & used equipment to oil drilling companies
worldwide. |
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 : |
Usually
correct |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company
Name : BRIDGES EQUIPMENT LTD.
Address : 2122 MAURICE ROAD
City : ODESSA
State/Province : TEXAS
Zip Code : 79763
Country : UNITED STATES
Telephone : 432 333-9741
Facsimile : 432 333-3042
As of :
Sales / Revenue :
Net
Income :
Total
Equity :
Legal
Form : General
Partnership
Website :
www.bridgesequipment.com
Business
Activity : Bridges Equipment
Company is a distributor of new
& used equipment to oil
drilling companies worldwide.
NOTE TO CLIENT
Contacted:
Ms. Carrie (Declined her last name), Office Manager.
Note: A
written inquiry was faxed to the Subject. Ms. Carrie declined to provide any
information on the Company and stated the Company would not respond to the fax
sent.
LEGAL
Legal
Form :
General Partnership
Since
(D/M/Y) :
21/07/1988
State/Province
of Incorporation : TX
Status : ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
Texas
Registration
Entity Bridges Equipment, Ltd.
File
Date 07/21/1988
File
Number 13836810
Status Active
Change 08/18/2000
Partnership
Managers/Key
Personnel
Mr.
Michael Bridges
Partner
Mr.
James Bridges
Partner
Bridges
Holdings, Inc. General
Partner
AFFILIATED ENTITIES
There
are no known affiliates.
BANKS
TX
Telephone:
Facsimile:
Account
Number:
Account
Manager:
The name
of the primary bank could not be obtained from management.
TEXAS
NATIONAL BANK, WESTERN NATIONAL BANK and COMMERCIAL STATE BANK were mentioned
as a secured party for financing.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
06-10 00-00 0000000 1200
400 100 0 0
0 0 CUST 15 YR
BLDG MATRL 07-01 02-06 CREDIT 10000
0 0 0 0
0 0
BLDG MATRL 06-09 00-00 N15PRXO 1600 0
0 0 0 0 0
FINCL SVCS 06-09 00-00 VARIED 1300
1300 100 0 0
0 0
FINCL SVCS 07-01 99-01 CONTRCT 3900 0
0 0 0 0 0
CUST 9 YR
FRGHT FWRD 07-01 04-05 NET 30 0
0 0 0
0 0 0
INDUS MACH 06-12 00-00 NET 30 4759600
4759600 52 48
0 0 0
IRON& STEEL 07-01 00-00 NET 30 18400
200 0 100 0
0 0
MACH DISTR 06-11 05-05 1/10N30 500 0
0 0 0 0 0
CUST 1 YR
OFFC SUPPL 07-01 00-00 CREDIT 8000
800 100 0 0
0 0
PACKAGING
06-09 00-00 NET 30 0 0 0 0 0
0 0 CUST 3 YR
TRANSPORTN 06-09 00-00 NET 30 0
0 0 0
0 0 0 CUST < 1 Y
AIR TRANS
05-12 00-00 NET 30 0 0 0 0 0
0 0 CUST 1 YR
CRED CARD
06-02 00-00 REVOLVE 0
0 0 0
0 0 0 CUST 4 YR
DP SERVCS
06-04 06-03 NET 30 4600 300
100 0 0 0
0
ELEC MFG
04-03 03-12 NET 30 1700 400
100 0 0 0
0
FACTOR
05-01 01-05 NET 30 0 0 0 0 0
0 0 CUST 4 YR
GENERAL
05-02 04-10 NET 30 1000 0
0 0 0 0 0
CUST 1 YR
INDUS SUPL 06-06 06-06 NET 30 18700
10700 56 44
0 0 0 CUST 2 YR
OFFC SUPPL 06-04 06-01 NET 100
0 0 0
0 0 0 CUST 5 YR
OFFC SUPPL 05-11 99-01 CREDIT 0
0 0 0
0 0 0 CUST 7 YR
PAINTS
04-12 00-00 VARIED 6600 3800
100 0 0 0
0
TELECOM
06-02 00-00 NET 30 2200 0
0 0 0 0 0
CUST 13 YR
WAREHOUSE
05-06 00-00 VARIED 4000 4000
92 8 0 0 0
CURRENT QUARTER 4800600
4762300 52 48
0 0 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE
CUR DBT DBT $ % 30
60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070100
0 6 7 4761800 52 48
0 0 0
20061200
0 6 0 2328900 99 1
0 0 0
20061100
0 6 0 17100 100
0 0
0 0
20061000
0 6 1 2913300 92 8
0 0 0
20060900
0 5 1 2930400 92 8
0 0 0
20060800
0 6 1 2911300 92 8
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ ---
-------- --- --- --- --- ---
Fourth
2006 5 2369700 68 32 0
0 0
Third
2006 1 2918400 92 8 0
0 0
Second
2006 3 2506100 79 21 0
0 0
First
2006 2 756400 88 12 0
0 0
Fourth
2005 3 144200 78 22 0
0 0
FINANCIAL INFORMATION
All
financial details were declined by the office manager. Outside sources failed
to add any insight into the condition of this firm.
CURRENT OPERATIONS
NAICS
Code: 333132 Oil and Gas Field Machinery and Equipment Manufacture
SIC
Code: 3533
Business
Activity:
Bridges
Equipment Company is a distributor of
new & used equipment to oil
drilling companies worldwide.
The
Company is a distributor of new and
used equipment and a services provider to the
Oil Industry. Company services to oil drilling companies include
reconditioning most drilling equipment, fabrication of custom skids,
specialization in the unitization
triplex mud pumps and providing complete mud pit systems and houses.
Equipment supplies range from substructures and derricks to blocks, hooks,
swivels, draw works, rotary tables and a variety of duplex and triplex mud
pumps.
The
Headquarters are located at the above address. There are no known branches as
far as can be determined.
PUBLIC RECORD
UNIFORM
COMMERCIAL CODE REPORT
Source: TX SECRETARY OF STATE
FILING
INFORMATION
Filing
Number: 60037173936
Filing
Date: 11/10/2006
Expiration
Date: 11/11/2011
Filing
Type: ORIGINAL
Filing
Office: SECRETARY OF STATE/UCC DIVISION
1019 BRAZOS 5TH FL
AUSTIN, TX 78701
DEBTOR
INFORMATION
Debtor(s): BRIDGES EQUIPMENT, LTD
PO BOX 11335
ODESSA, TX 79760
SECURED
PARTY OR CREDITOR INFORMATION
Secured
Party(s): COMMERCIAL STATE BANK
200 SOUTH MAIN
STREET
ANDREWS, TX 79714
COLLATERAL
INFORMATION
Collateral
Type: ALL ACCOUNT(S)
Collateral
Type: ALL CHATTEL PAPER
==
UNIFORM
COMMERCIAL CODE REPORT
Source: TX SECRETARY OF STATE
FILING
INFORMATION
Filing
Number: 600380561
Filing
Date: 11/20/2006
Expiration
Date: 02/15/2012
Filing
Type: CONTINUATION
Filing
Date of Related Filing: 02/14/2002
Filing
Office: SECRETARY OF STATE/UCC DIVISION
1019 BRAZOS 5TH FL
AUSTIN, TX 78701
DEBTOR
INFORMATION
Debtor(s): BRIDGES EQUIPMENT LTD
P O BOX 11335
ODESSA, TX 79760
SECURED
PARTY OR CREDITOR INFORMATION
Secured
Party(s): WESTERN NATIONAL BANK
P O BOX 4597
ODESSA, TX 79760
==
UNIFORM
COMMERCIAL CODE REPORT
Current
Date: 01/25/2007
Source: TX SECRETARY OF STATE
FILING
INFORMATION
Filing
Number: 60038625373
Filing
Date: 11/27/2006
Expiration
Date: 11/27/2011
Filing
Type: ORIGINAL
Filing
Office: SECRETARY OF STATE/UCC DIVISION
1019 BRAZOS 5TH FL
AUSTIN, TX 78701
DEBTOR
INFORMATION
Debtor(s): BRIDGES EQUIPMENT, LTD.
P O BOX 11335
ODESSA, TX 79760
SECURED
PARTY OR CREDITOR INFORMATION
Secured
Party(s): MOTION INDUSTRIES, INC.
1605 ALTON RD
BIRMINGHAM, AL
352
==
UNIFORM
COMMERCIAL CODE REPORT
Database
Updated: 01-24-2007
Current
Date: 01/25/2007
Source: TX SECRETARY OF STATE
FILING
INFORMATION
Filing
Number: 87224360
Filing
Date: 09/14/2000
Expiration
Date: 08/31/2002
Filing
Type: AMENDMENT
Filing
Date of Related Filing: 08/31/1987
Filing
Office: SECRETARY OF STATE/UCC DIVISION
1019 BRAZOS 5TH FL
AUSTIN, TX 78701
DEBTOR
INFORMATION
Debtor(s): BRIDGES EQUIPMENT, LTD
P O BOX 11335
ODESSA, TX 79760
ASSIGNEE
INFORMATION
Assignee(s): TEXAS NATIONAL BANK
P O BOX 4879
ODESSA, TX 79760
WESTERN
NATIONAL BANK
PO BOX
4597
ODESSA,
TX 79760
A search
of public in the State of Texas revealed no bankruptcy petitions.
GENERAL COMMENTS
The
Company is a distributor of new and
used equipment and a services provider to the
Oil Industry. The payment record is satisfactory. Nothing of a negative
nature was reported or noted.
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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