MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
CAROLE FABRICS CORPORATION |
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Registered Office : |
633 NW Frontage Road, Augusta,
GA 30907 |
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Country : |
United State |
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Date of Incorporation : |
20.09.1990 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures and
Wholesales Fabrics, Blinds and
Notions |
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 : |
USD 750,000 |
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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 |
750,000 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: |
CAROLE FABRICS CORPORATION |
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Address: |
633 NW Frontage
Road, Augusta, GA
30907, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (706) 863-4742 + 1 (706) 863-8186 2241785 Delaware W W “Bill” Geiger,
President |
Date founded: |
Sept 20, 1990
Corporation for Profit N.A. N.A. 550 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Manufactures and wholesales fabrics,
blinds and notions |
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BANKS
US Bancorp
Wells Fargo
BUSINESS
Operations:
Carole Fabrics Corporation is a private company headquarters located in
Augusta, Georgia. Carole Fabrics Corporation's line of business is manufacturer
and wholesaler of fabrics, blinds and
notions.
Industry overview;
The US textile industry includes about 10,000 companies with combined
annual sales of $65 billion. Large companies include Burlington Industries and Unifi.
The industry has become concentrated: the 50 largest companies hold more than
60 percent of the market. About 100 companies have annual sales over $100
million.
Demand is driven by the domestic apparel industry and consumer demand
for home furnishings like carpets, furniture, and curtains. The profitability
of individual companies depends on efficient operations. Large companies have
economies of scale in production for high-production items. Small companies can
compete successfully by producing specialized textiles. The industry has become
more automated but is still labor-intensive: average annual revenue per
employee is under $170,000.
Major products are yarns and threads, fabrics, carpets, and curtains.
The industry produces yarns and threads out of natural (wool and cotton) and
synthetic (plastics) materials, uses yarns and threads to produce fabrics that
are woven or knit, finishes fabrics by dyeing or coating them, and makes
fabrics into simple finished consumer products like rugs, carpets, curtains,
linens, and textile bags. Fabrics account for about 40 percent of industry
revenue, carpets 20 percent, yarns and threads 20 percent.
Textiles are made in factories (still called mills because they were
among the earliest industrial users of water power) using highly specialized,
automated machinery, mainly yarn spinning machines, knitting machines, and
various looms.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
W W “Bill” Geiger,
President,
Robert Thompson, Vice President.
The parent company is Hunter Douglas Inc. Hunter Douglas Inc.2 Parkway, Upper Saddle River, NJ 07458-2345, United States
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Carole Fabrics Corporation 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 |
38,700,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2008 &
2004 by US Bancorp. Security &
Amount: NA
1 UCC Filing in 2007 &
2004 by IMB Credit LLC 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.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion:
This is a medium 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 |
None Regular |
ADVISED
CREDIT
750,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.00 |
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UK Pound |
1 |
Rs.82.14 |
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Euro |
1 |
Rs.65.09 |
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%)