MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
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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Maximum Credit Limit : |
US$ 50,000 |
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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.
Subject's shareholders
and General Manager, Mr. David Loewenstein and Mrs. Pnina Assis, who are the
only authorized persons to disclose financial data, are presently abroad and
due back within 2 weeks. We shall contact them upon their return and update you
as soon as we obtain further data.
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%)