MIRA
INFORM REPORT
|
Report Date : |
20.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
ROYAL CANADIAN
STEEL INC. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
14/03/1990 |
|
|
|
|
Legal Form : |
Provincially
Chartered Corporation – Private |
|
|
|
|
Line of Business : |
Engaged as an
exporter of various types of steel products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
IDENTIFICATION
& EXECUTIVE SUMMARY
Company Name: ROYAL
CANADIAN STEEL INC.
Address:
City:
State/Province:
Zip Code: 46T4A3
Country:
Telephone: 905-454-7274
Facsimile: 905-454-2786
Founded
(D/M/Y): / /1990
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 25
Legal Form: Provincially
Chartered Corporation - Private
Website: See
notes to client.
Business Activity: The Subject is engaged as an exporter of
various types of steel products. Distribution is
throughout
NOTE TO CLIENT
Website:
www.royalcanadiansteel.com
----------------------------------------------------------------------
Mr. Ebbet Razetti,
A/R Clerk, provided the following information in this report.
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 14/03/1990
State/Province of
Incorporation: ON
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
ROYAL CANADIAN STEEL
INC.
CORP. NUMBER:
000887652
FILED: 3/14/1990
STATUS: ACTIVE
Managers/Key
Personnel
Mr. Ebbet Razetti
(A/R Clerk) Administrator
Mr. Feroz Ali
Jessani President
Mr. Sedik
Merchan Controller
AFFILIATED ENTITIES
Management reports
no affiliates or subsidiaries.
BANKS
ON
Telephone:
Facsimile:
Account Number:
Account Manager:
The primary bank
could not be determined via Management or outside sources.
PAYMENT HISTORY
TRADE ITEMS
------------------------------------------------------------------------------
Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing
$ 1st 2nd
3rd
------------------------------------------------------------------------------
Whlsl-Plumbing/Heatg:
*Oct 0 2,007 14
0 14 0
0
DE LAGE LANDEN FIN: 905-465-3160
*Sep 0 6,535 136
136 0 0
0
------- ------- ------- -------
------- -------
P.I. =
3 90 Days 8,542
150 136 14
0 0
Reported ------- ------- ------- ------- -------
-------
Transportation Serv:
*Jul 0 64 64
64 0 0
0
Arrg Transp of Freig:
*May 0 40,000 24,585
24,585 0 0
0
Trucking:
*Apr 0 30,794 30,794
29,972 822 0
0
------- -------
------- ------- ------- -------
P.I. =
1 Total 79,400
55,593 54,757 836
0 0
Reported ------- ------- ------- ------- -------
-------
PAYMENT TRENDS
------------------------------------------------------------------------------
Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
------------------------------------------------------------------------------
3 Qtr/2007
0 22 3
214 214 0
0 0
2 Qtr/2007
0 23 4
58,249 57,427 822
0 0
1 Qtr/2007
7 30 1
2,536 2,002 534
0 0
4 Qtr/2006
49 25 3
847 420 0
27 400
3 Qtr/2006
26 25 2
913 205 708
0 0
2 Qtr/2006 13
26 2 38,730
23,858 14,872 0
0
1 Qtr/2006
67 34 1
82 0 0
82 0
4 Qtr/2005
0 35 1
788 788 0
0 0
3 Qtr/2005
32 23 2
3,013 1,812 554
467 180
FINANCIAL
INFORMATION
Management declined
to provide any financial information and outside sources could not provide any
insight into the financial condition of the Subject.
Please note that as
a privately-held company, the Subject is not required to disclose financial
statements for public review.
CURRENT OPERATIONS
NAICS Code: 42199
Other Miscellaneous Durable Goods Wholesalers
SIC Code: 5099
Number of
Employees: 25
Business Activity:
The Subject is
engaged as an exporter of various types of steel products. Distribution is
throughout
The headquarters is
at the heading address. The Company has an additional plant locations in
PUBLIC RECORD
Statement
of Claim:
Defendant ROYAL CANADIAN STEEL INC Date Apr 12, 2007
Plaintiff NATIONAL UTILITY SERVICE (
Amount 10,000 Location Brampton-Missis
Reason Contract File # SC2377-07
Statement
of Claim:
Defendant ROYAL CANADIAN STEEL INC. Date Sep 28, 2005
Plaintiff CSX TRANSPORTATION INC. Court General Divisio
Amount 10,253
Reason Monies Due File # 05CV297625
--------------------------------------------------------------------------------
NO BANKRUPTCY
PETITION WAS FILED BY THE COMPANY.
GENERAL COMMENTS
The Subject is
engaged as an established exporter of various types of steel products. Payment
are considered to be generally satisfactory and a search of public records
found two claims filed against the Company, the details of which are unknown. A
search of bankruptcy courts returned no record of the Company filing a
bankruptcy petition.
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%)