MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTERNATIONAL FAST FORWARDING CORP. |
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Registered Office : |
13509 Regional Drive, Laredo,
TX 78045 |
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Country : |
United States |
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Date of Incorporation : |
09.07.1990 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Freight Transportation. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
GUARANTEES |
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: |
INTERNATIONAL FAST FORWARDING CORP. |
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Address: |
13509 Regional
Drive, Laredo, TX 78045, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (956) 791-0191 NA 0115918600 Texas Alfonso Nogueira,
President |
Date founded: |
July 9,1990
Corporation for Profit N.A. N.A. 10 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Freight transportation. |
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BANKS
Laredo National Bank
BUSINESS
Operations:
International Fast Forwarding Corp. is a private company located in
Laredo, Texas. International Fast Forwarding Corp's line of business is freight
transportation arrangement.
Industry Overview:
Industry revenues are strongly affected by national and international
business activity. The profitability of individual companies depends on
efficient operations and good marketing. Small companies can compete
effectively with large ones because there are few economies of scale in local
booking offices. Revenues per employee are about $120,000 at both large and
small firms. Companies that provide freight shipping services are either fully
integrated carriers, like Menlo Worldwide and BAX Global, that own truck, rail,
air or ocean assets, or freight forwarders, like Robinson and EGL, that arrange
shipments and local pickup through independent carriers.
Freight forwarders often provide greater flexibility and lower price
than integrated carriers, which specialize in carrying large volumes on fixed
schedules over predetermined routes. Integrated companies make money mainly by
carrying goods; freight forwarders make money on the spread between the rates
they charge customers and the rates they pay carriers. Both types of shippers
also offer other services they charge fees for, such as logistics, supply-chain
consulting, and customs brokerage. Expeditors International gets about 60
percent of its revenue from air freight, 28 percent from ocean freight, and 12
percent from customs brokerage and other services. Freight shippers have
specialized knowledge about schedules, rates, and available carriers.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Alfonso Nogueira,
President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
International Fast Forwarding Corp. 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 |
1,500,000 |
LEGALS
On Oct 2, 1995 International Fast Forwarding Corp filed a voluntary
petition in bankruptcy in U S BANKRUPTCY COURT, Corpus Christi, TX under
Chapter 11 of the United States Bankruptcy Act.
Attorney is A C Meurer, Laredo, TX.
File Number is 95-22552.
On July 22, 1998, the chapter Eleven bankruptcy, file number 95-22552,
filed in the U S BANKRUPTCY COURT, Corpus Christi, TX, was closed for International Fast Forwarding
Corp.
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
0 UCC Filings
RATING
The Company is in
“Not in good standing”.
This means that
all local and federal taxes were not paid on due date.
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Payments are not made on a regular basis.
Our final opinion:
This is a small company
working in worldwide.
Any credit line should
require guarantees.
SUMMARY
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
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%)