MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
DALE TILE COMPANY |
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Registered Office : |
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Country : |
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Date of Incorporation : |
29/08/1956 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Distributor of
tile and natural stone from all over the world. |
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 : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: DALE
TILE COMPANY
Trade Name(s):
Address:
City:
State/Province:
Zip Code: 55445
Country: UNITED
STATES
Telephone: 763.488.5218
Facsimile: 763.488.5216
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 45
Legal Form: Corporation
- Private
Website: www.mntile.com
Business Activity: Distributor of tile and natural stone
from all over the world.
NOTE TO CLIENT
We could not contact
the Company's headquarters at the heading address due to a repair for their
telephone lines. We contacted the
Lakeville,
NOTE: PLEASE BE
ADVISED THAT THE REQUESTED NAME
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 29/08/1956
State/Province of
Incorporation: MN
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company is
incorporated in the State of
Filing Number: R-325
Chapter: 302A
Original Date of
Filing: 8/29/1956
Entity Type: Domestic Corporation
Entity Status: Active
Good Standing: (date
of last annual filing) 2006
Duration: PERPETUAL
Name: Dale Tile Company
Registered Office
Address:
Agent Name: No Agent Filed
Managers/Key
Personnel
Mr. Alan J.
Dale President
AFFILIATED ENTITIES
There are no
affiliates or subsidiaries.
BANKS
Wells Fargo Bank
MN
Telephone: 800
780-6966
Facsimile:
Account Number:
Account Manager:
The above bank
requires an account number and authorization from the Company which we could
not obtain.
Thus we cannot
furnish account reference information.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
FINCL SVCS 07-07 07-06 CONTRCT 1600 1500
100 0 0 0 0 CUST
2 YR
FINCL SVCS 07-09 07-09 CONTRCT 0 0
0 0 0
0 0 SATSFTRY
FRGHT FWRD 07-05 07-05 VARIED 800
200 100 0 0
0 0
AIR TRANS
06-06 06-05 0000000 500 500
100 0 0 0
0 CUST 30 YR
FINCL SVCS 06-03 06-03 CONTRCT 0 0
0 0 0
0 0 SATSFTRY
LEASING
07-06 00-00 CONTRCT 200
200 100 0 0
0 0
CURRENT QUARTER 2400 1700
100 0 0 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070900
0 3 0
1700 100 0
0 0 0
20070800
0 3 0 1700 100 0
0 0 0
20070700
0 3 0 1700 100 0
0 0 0
20070600
0 4 0 1100 100 0
0 0 0
20070500
0 3
0 1200 100 0
0 0 0
20070400
0 2 0 900 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 0 1200 100 0
0 0 0
First
2007 1 1100 96
4 0 0 0
Fourth 2006 0 1000 100 0
0 0 0
Third
2006 0 1000 97
3 0 0 0
Second
2006 1 800 91
9 0 0 0
FINANCIAL INFORMATION
We could not obtain
financial information for the Company.
Outside sources provided annual sales to be U.S $10 million; since we
could not reach a member of management, this information was not confirmed.
CURRENT OPERATIONS
NAICS Code: 42132
Brick, Stone and Related Construction Material Who
SIC Code: 5032
Number of
Employees: 45
Business Activity:
Distributor of tile
and natural stone from all over the world. The Company offers ceramic, stone,
and porcelain selections. The heading
address is the Company's headquarters and stone facility fabrication.
Other locations:
Woodbury
651.730.0447
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Lakeville
952.898.1960
PUBLIC RECORD
Filing Number: 20020337162
Filing Date: 12/09/2002
Filing Time: 5:00PM
Filing Type: ORIGINAL
Filing Office: SECRETARY OF STATE/UCC DIVISION
DEBTOR INFORMATION
Debtor(s): DALE TILE COMPANY
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): WELLS FARGO EQUIPMENT FINANCE,
INC.
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Filing Number: 200716165918
Filing Date: 04/02/2007
Filing Time: 12:25PM
Expiration
Date: 04/02/2012
Filing Type: ORIGINAL
Filing Office: SECRETARY OF STATE/UCC DIVISION
180 STATE OFFICE
BUILDING
DEBTOR INFORMATION
Debtor(s): DALE TILE COMPANY
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): IBM CREDIT LLC
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Filing Number: 20071790698
Filing Date: 08/17/2007
Filing Time: 8:22PM
Expiration
Date: 02/10/2013
Filing Type: CONTINUATION
Filing Date of
Related Filing: 02/10/1993
Filing Office: SECRETARY OF STATE/UCC DIVISION
180 STATE OFFICE
BUILDING
S
DEBTOR INFORMATION
Debtor(s): DALE TILE COMPANY
DALE TILE COMPANY
SECURED PARTY OR CREDITOR INFORMATION
Secured Party(s): NORWEST BANK
6TH STR &
WELLS FARGO BANK
NATIONAL ASSOCIATION
6TH &
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A nationwide search
of bankruptcy courts found no filings related to the Subject.
GENERAL COMMENTS
Dale Tile Company
incorporated in 1956 as a distributor of tile and natural stone from all over
the world. Payment are satisfactory and a search of public records and
bankruptcy courts returned no derogatory information or record of the Company
filing a bankruptcy petition.
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. |
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%)