MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE ECHO DESIGN GROUP INC |
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Registered Office : |
10 East 40th Street 16th
Floor, New York, NY 10016
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Country : |
United States |
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Date of Incorporation : |
29.05.1946 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Women’s, Men’s
Children’s Clothing, Accessories and Home Furnishings. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
500,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
THE ECHO DESIGN GROUP, INC. |
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Address: |
10 East 40th
Street 16th Floor, Branch: 75 Oxford Drive, New York,
NY 10016, Moonachie, NJ
07074, USA USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 686-8771 + 1 (212) 686-5017 58883 New York Dorothy H. Roberts, Chief
Executive Officer |
Date founded: |
May 29, 1946
Corporation for Profit N.A. N.A. 185 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales women’s, men’s children’s Clothing, accessories and home
furnishings. |
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The Echo Design
Group Inc.
75 Oxford Drive
Moonachie, NJ 07074,
USA
This
is a branch of the group located at:
The Echo Design
Group Inc.
10 East 40th Street 16th Floor,
New York, NY 10016,
USA
We
are doing the report on the headquarters located in New York.
BANKS
Citi Bank
Bank of America
BUSINESS
Business & Operations:
Founded by Edgar and Theresa Hyman on their wedding day in 1923, The
ECHO Design Group is a prominent fashion designer and retailer.
Its fashion accessories include:
-Women's handbags,
-Scarves,
-Wraps, and other cold weather accessories.
Its home décor lineup consists of bedding, bath products, and
stationery.
ECHO Design's products are sold in a range of department stores from the
upscale (Bloomingdale's) to the everyday (Foley's).
ECHO Design also licenses a line of wallcoverings, throws, decorative
pillows, bed and bath products, and paper goods. Historically, the family-run
company (CEO Dorothy Roberts
is the Hymans' daughter) has designed custom products for retailers, museums,
and historical societies.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Dorothy H. Roberts, Chief
Executive Officer.
She is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
The Echo Design Group Inc. does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
28,600,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2007 by IBM
Credit LLC securing Equipment. Amount:
NA
1 UCC Filing in 2005 by MDM
Business Technologies Group securing Equipment. Amount: NA
All previous UCC Filings
have been cleared
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
The cash is correct.
Our final opinion:
This is a small company
working worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
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ADVISED CREDIT |
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500,000 USD |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.37 |
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UK Pound |
1 |
Rs.84.01 |
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Euro |
1 |
Rs.65.96 |
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%)