MIRA INFORM REPORT

 

 

Report Date :

20.11.2007

 

IDENTIFICATION DETAILS

 

Name :

METAL MANAGEMENT

 

 

Registered Office :

P O Box 5158, Newark, Nj 07105-0158

 

 

Country :

United States

 

 

Date of Incorporation :

Prior To 01/1977

 

 

Legal Form :

Institutions

 

 

Line of Business :

Coal & Other Minerals & Ores Wholesaling

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow by 55 days

 

 

Litigation :

Clear

 

 

 

Company Information

 

 

METAL MANAGEMENT
PO BOX 5158
NEWARK, NJ 07105-0158
(973) 344-4570

Business Identification Number:

700267426

File Established:

PRIOR TO 01/1977

Date of Incorporation:

09/02/1999

SIC code: 

COAL & OTHER MNRLS & ORES WHLSNG - 5052

 

Executive Summary

 

 

  Intelliscore for METAL MANAGEMENT

 

 

36.72

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


MEDIUM TO HIGH RISK
23% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS

NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS

RECENTLY DELINQUENT OR DEROGATORY AVG ACCOUNT BALANCES

BALANCE ON DELINQUENT ACCOUNTS



  Current DBT range compared to all industries*

55 DBT
($2,800 Balance)

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 5 DBT

 

Legal Filings and Collections

Bankruptcy filings: details (FILED 11/00)

4

Tax lien filings:

0

Judgment filings:

0

Total collections:

0

Sum of legal filings:

$0

UCC filings: details (FILED 10/03-07/07)

13

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

32

Highest DBT previous 6 months:

55

Highest DBT previous 5 quarters:

91

Total continuous trades:

12

Current continuous trade balance:

$2,800

Trade balance of all trades (23):

$16,200

Average balance previous 5 quarters:

$3,380

Highest credit amount extended: details

$26,300

6 month balance range:

$2,800 - $13,400

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivable, Contracts, Hereafter Acquired Inventory, Leases, Notes Receivable or Proceeds.

 

 

  7 month DBT trends

 

90+

60

30

 


20

 


15

 


28

 


34

 


43

 


55

 


55

 

0

May07

Jun07

Jul07

Aug07

Sep07

Oct07

Current

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


67

 


59

 


91

 


22

 


35

 

0

 

3Q06

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

 

Performance Analysis

Predicted DBT for 01/16/2008: 47 DBT

Payment Trend Indication:
Payments Are Increasingly Late

Industry payment comparison:
Has paid slower than 75% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CREDIT, and CONTRCT

 

 

 

 

Legal Filings and Collections

 

 

  Bankruptcy

File
Date

Filing
Type

Status

Liability
Amount

Asset
Amount

Exempt
Amount

Owner

Filing
Number

Jurisdiction

11/20/2000

Bankruptcy

Chapter 11 Voluntary

$0

 

$0

 

$0

 

 

00004312

 

11/20/2000

Bankruptcy

Chapter 11 Voluntary

$0

 

$0

 

$0

 

 

00004318

 

11/20/2000

Bankruptcy

Chapter 11

$0

 

$0

 

$0

 

 

0000000000004312

 

11/20/2000

Bankruptcy

Chapter 11

$0

 

$0

 

$0

 

 

0000000000004318

 

 

Trade Payment Information

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

+AIR TRANS

09/2007

 

 

 

$1,200

$1,000

100%

 

 

 

 

CUST 2 YR

 CONST MACH

11/2007

 

NET

 

 

$0

 

 

 

 

 

 

 FINCL SVCS

10/2007

08/2007

NET

 

$14,100

$0

 

 

 

 

 

CUST 3 YR

-INDUS MACH

10/2007

 

NET 30

 

$26,300

$1,600

12%

 

 

 

88%

 

 INDUS SUPL

10/2007

12/2005

NET 30

 

$10,700

$0

 

 

 

 

 

CUST 2 YR

 INDUS SUPL

10/2007

05/2004

NET 30

 

$4,500

$0

 

 

 

 

 

CUST 3 YR

+INDUS SUPL

10/2007

10/2007

NET 30

 

$3,600

$100

100%

 

 

 

 

CUST 3 YR

-MACH DISTR

10/2007

03/2005

1/10N30

 

<$100

<$100

 

 

 

100%

 

CUST 2 YR

 MACH DISTR

09/2007

 

COD

 

 

$0

 

 

 

 

 

CUST 37 YR

 MANUFCTRNG

10/2007

06/2007

NET 30

 

$5,400

$0

 

 

 

 

 

 

 SAFTY PROD

09/2007

 

NET 30

 

$1,800

$0

 

 

 

 

 

 

 TRNS EQUIP

11/2007

 

NET 30

 

 

$0

 

 

 

 

 

CUST 7 YR

 

Trade Payment Totals

 

 

Trade Payment Experiences

Account Status
Days Beyond Terms

 

Type

Lines
Reported

 

 

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

Continuously Reported

12

 

 

$67,700

$2,800

47%

 

 

1%

52%

DBT: 55

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

12

 

 

$67,700

$2,800

47%

 

 

1%

52%

DBT: 55

 

Additional Payment Experiences

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

+AIR TRANS

11/2006

 

NET 30

 

$900

$400

100%

 

 

 

 

COLLECTION

+CELLUL/PAG

01/2007

 

NET 30

 

$500

<$100

100%

 

 

 

 

CUST 6 YR

+EQUIPMENT

10/2006

09/2006

NET 30

 

$100

$100

100%

 

 

 

 

 

=FINCL SVCS

01/2006

 

NET 20

 

$900

$900

75%

25%

 

 

 

 

=FREIGHT

06/2007

 

VARIED

 

$1,100

$1,100

 

100%

 

 

 

 

-INDUS MACH

07/2006

 

NET

 

$26,300

$1,400

 

 

 

 

100%

 

+LEASING

01/2005

01/2005

NOTE

 

$9,700

$7,800

100%

 

 

 

 

 

+PAINTS

12/2004

 

VARIED

 

$1,500

$1,500

100%

 

 

 

 

 

+TELECOM

08/2006

 

NET 30

 

<$100

<$100

100%

 

 

 

 

 

 TEMP HELP

02/2007

 

NET 7

 

$2,700

$0

 

 

 

 

 

 

 TRUCK DLR

08/2006

 

CONTRCT

 

$700

$0

 

 

 

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
COAL & OTHER MNRLS & ORES WHLSNG INDUSTRY SIC: 5052

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

55

$2,800

 

47%

 

 

1%

52%

OCT07

78%

5

55

$2,800

 

47%

 

 

1%

52%

SEP07

79%

5

43

$3,700

 

59%

 

 

1%

40%

AUG07

79%

5

34

$4,700

 

60%

8%

1%

 

31%

JUL07

80%

5

28

$5,900

 

67%

7%

1%

 

25%

JUN07

80%

5

15

$13,400

 

68%

21%

 

 

11%

MAY07

80%

6

20

$7,500

 

80%

1%

 

 

19%

 

Quarterly Payment Trends

 

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q3 - 07

JUL-SEP

35

$4,500

 

63%

4%

1%

 

32%

Q2 - 07

APR-JUN

22

$7,500

 

68%

13%

 

 

19%

Q1 - 07

JAN-MAR

91

$900

 

4%

1%

 

31%

64%

Q4 - 06

OCT-DEC

59

$1,600

 

18%

17%

17%

6%

42%

Q3 - 06

JUL-SEP

67

$2,400

 

32%

3%

3%

1%

61%

 

Inquiries

 

 

  Summary of Inquiries

Business
Category

NOV07

OCT07

SEP07

AUG07

JUL07

JUN07

MAY07

APR07

MAR07

FINCL SVCS

 

 

1

 

 

 

 

 

 

 

TELECOM

 

 

 

 

 

1

 

 

2

 

Totals

 

1

 

 

1

 

 

2

 

 

UCC Profile

 

The number of UCC Filings is summarized with the 10 most recent listed below.


A full UCC detail report is available within 72 hours by entering UCC-700267426-C032283874 into the Business ID Number field on the BizApps order page.

 

UCC Summary

Filings

Date Range

Year

Cautionary
UCCs**

Total
Filed

Released/
Term'd

Cont

Amended/
Assigned

JUL - PRESENT

 

2007

 

1

 

 

 

JAN - JUN

 

2007

1

2

 

 

 

JUL - DEC

 

2006

2

2

 

 

 

JAN - JUN

 

2006

 

 

 

 

 

JUL - DEC

 

2005

1

1

 

 

 

PRIOR TO JUL

 

2005

4

7

 

 

1

Total

 

8

13

 

 

1

 

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivable, Contracts, Hereafter Acquired Inventory, Leases, Notes Receivable or Proceeds.

 

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  UCC Filings

 

UCC FILED Date: 07/31/2007

Filing Number: 24289726

Jurisdiction: SEC OF STATE NEW JER

Secured Party: SOVEREIGN BANK MA BOSTON 02109 75 STATE ST

Collateral: EQUIP, UNDEFINED


UCC FILED Date: 02/14/2007

Filing Number: 2007 0632983

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: SOVEREIGN BANK MA BOSTON 02109 75 STATE STREET

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED


UCC FILED Date: 02/14/2007

Filing Number: 24024754

Jurisdiction: SEC OF STATE NEW JER

Secured Party: SOVEREIGN BANK MA BOSTON 02109 75 STATE ST

Collateral: UNDEFINED


UCC FILED Date: 11/03/2006

Filing Number: 6407225 2

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: SOVEREIGN BANK MA BOSTON 02109 75 STATE STREET

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED


UCC FILED Date: 07/28/2006

Filing Number: 6261433 7

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: GENERAL ELECTRIC CAPITAL CORPORATION CT DANBURY 06810 44 OLD

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED


UCC FILED Date: 11/17/2005

Filing Number: 23297135

Jurisdiction: SEC OF STATE NEW JER

Secured Party: INTERNATIONAL SALT COMPANY, L.L.C. PA CLARKS SUMMIT 18411 65

Collateral: INVENTORY


UCC FILED Date: 12/28/2004

Filing Number: 5004501 4

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: GENERAL ELECTRIC CAPITAL CORPORATION CT DANBURY 06810 44-2 O

Collateral: EQUIP


UCC AMENDED Date: 12/28/2004

Filing Number: 22700308

Original Filing Date: 11/29/2004

Original Filing Number: 22700308

Original Filing State: NJ

Jurisdiction: SEC OF STATE NEW JER

Secured Party: TFS CAPITAL FUNDING IL BANNOCKBURN 60015 3000 LAKESIDE DR ST

Collateral: EQUIP


UCC FILED Date: 06/29/2004

Filing Number: 4181557 2

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: LASALLE BANK NATIONAL ASSOCIATION, AS AG IL CHICAGO 60603 13

Collateral: EQUIP, FURN & FIX, INVENTORY, HEREAFTER AQUIRED PROP, UNDEFINED


UCC FILED Date: 06/17/2004

Filing Number: 4167800 4

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: LASALLE BANK NATIONAL ASSOCIATION, AS AG IL CHICAGO 60603 13

Collateral: EQUIP, FURN & FIX, INVENTORY, HEREAFTER AQUIRED PROP, UNDEFINED

 

Company Background Information

 

 

  Corporate Registration

 

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF CONNECTICUT

State of Origin: CT

Date of Incorporation: 09/02/1999

Current Status: Inactive


Business Type: Institutions - Profit

Charter Number: 0629373


Agent: SECRETARY OF THE STATE

Agent Address: 30 TRINITY ST HARTFORD, CT

 

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  Additional Company Background Information

 

Key Personnel

Principal(s): 

BRIAN MORE, MANAGER

 

JOHN SARTORI, GENERAL MA

 

HENRY BIXON, PLANT MANA


Operating Information

Business Type: Institutions


Primary SIC Code: COAL & OTHER MNRLS & ORES WHLSNG - 5052

Secondary SIC Code: NONRESIDENTIAL CONSTRUCTION NEC - 1542


Number of Employees: 100


 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions