MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
ART FLOCK & SCREEN, INC. |
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Registered Office : |
214 Ditmas Avenue,
Brooklyn, NY 11218 |
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Country : |
United States |
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Date of Incorporation : |
02.13.1947 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Wholesaler and Retailer of Carpet and Rug |
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 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company name
ART FLOCK & SCREEN, INC.
Address
214 Ditmas Avenue, Brooklyn, NY 11218 – USA
Telephone : 718-907-1300
Fax : 718-741-4933
Website : www.kanecarpet.com
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
New York State does not
issue organizational identification numbers New York State Corporation – Profit 02-13-1947 - - Herbert FRANK |
ACTIVITIES
& OPERATIONS
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Business Staff: |
The Company is doing business as KANE CARPET. KANE CARPET is wholesaler and retailer of carpet and rug. Purchases are made in the U.S. and the Company imports from worldwide. Sells to contractors, retailers and private people. 40 |
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Operations & branches: |
At above address, we find
a large showroom, warehouse and office, owned. The Company maintains a
large branch located: 125 N. Industrial Blvd Calhoun, GA 30701 Ph: 706-625-8373 Fx: 706-625-8919 |
SHAREHOLDERS & MANAGERS
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Shareholders : |
This is a family owned and managed company. |
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Management : |
Herbert FRANK is the
President and CEO. Vive President include - Dovi FRANK - Jospeh FRANK - Bruce KURTZ |
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Subsidiaries & Partnership : |
None |
FINANCIALS
In United States, privately
held corporations are not required to publish any financials.
On a direct call, Cindy
WOOD, the Secretary of Herbert FRANK, deferred any information.
However, the bank confirmed
sales for year 2007 is in the range of USD 27,655,000=
The business is profitable.
Banks
Bank of America
…
LEGAL FILINGS
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Legal filings
& complaints : |
As of today date, there
is no legal filings pending with the District Courts. |
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Secured debts
summary (UCC) : |
None |
MARKET
ANALYSIS & FORECAST
In the United States,
during the year 2007:
- 88% of the corporations
in same branch were developing the business on a medium risk of late payment,
- 12% on a high risk of
late payment.
- 58% of them saw sales
stable versus last 3 years
- 42% declining
A high percentage of late
payment may indicate that companies in this industry are experiencing cash flow
problems, that suppliers generally accept late payment as part of doing
business, or that on-time payment is not customary in this industry.
Companies entering such
markets should not expect to be paid on time.
The market appears to be
stable.
COMPANY
CREDIT HISTORY
According to our credit analysts, during the last 6 months, 88% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of 10 to 15 days
beyond terms.
The Company is improving
its payments, but the cash is low, due to high inventories and bad conditions
of the market.
The bank and financial
institutions confirmed a medium account and delays of payments, but the Company
remains strong.
The risk is medium.
Our opinion:
A business connection may
be conducted but we suggest you to check regularly the way of payments.
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CREDIT REQUIRED |
MAXIMUM CREDIT |
OUR CREDIT RATE |
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Maximum |
USD 400,000= |
Acceptable |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)