MIRA
INFORM REPORT
|
Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KMART CORPORATION OF ILLINOIS, INC. |
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Registered Office : |
3333 Beverly Road,
Hoffman Estates, IL 60179 |
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Country : |
United States |
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Date of Incorporation : |
09.06.1916 |
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Com. Reg. No.: |
142467 |
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Legal Form : |
Corporation -
Profit |
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Line of Business : |
Subject is the #3
discount retailer in the US, behind Wal-Mart and Target. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 10,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
KMART CORPORATION OF
ILLINOIS, INC.
Company
acronym
---
Contact Information
|
Address |
3333 Beverly Road Hoffman Estates,
IL 60179 USA |
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Telephone |
847-286-2500 |
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Fax |
847-286-5500 |
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Website |
www.kmartcorp.com |
Registration Data
|
Date of Registration |
March 9, 1916 |
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Registration number |
142467 |
|
Legal address |
The Corporation
Company 30600 Telegraph
Road, Bingham Farms, MI 48025 |
|
Legal Form |
Corporation -
Profit |
|
Share Capital |
1,000 shares
common, no par value |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
Sears Holdings Corporation Quoted with the Nasdaq under symbol SHLD Sales Mars 2007-February 2008: USD 50,703,000,000 (consolidate) Net profit: USD
826,000,000= |
100 |
Board/Executive
|
Name |
W.B. JOHNSON |
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Position within the company |
President |
|
Name |
William C. CROWLEY |
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Position within the company |
Executive Vice President & CFO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Kmart is the #3
discount retailer in the US, behind Wal-Mart and Target. It sells name-brand and
private-label goods (including its Martha Stewart label), mostly to low- and
mid-income families. It runs about 1,400 off-mall stores (including 55
Supercenters) in 49 US states, Puerto Rico, Guam, and the US Virgin Islands.
About 1,000 Kmart stores contain in-store pharmacies. The company also operates
the kmart.com Web site. Dismal sales and the erosion of supplier confidence led
Kmart to file for Chapter 11 bankruptcy in 2002. (It emerged from Chapter 11 in
2003.) Kmart then bought and merged with Sears, Roebuck in 2005 to form both
chains' parent company, Sears Holdings.
Staff
|
Number of staff employed |
3,000 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Europe, Far East |
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Exports To |
- |
Facilities
|
Rented |
Warehouse and
office (with the parent company) |
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Premises Size |
300,000 sq. feet |
Subsidiaries
and Participation
|
Parent Company |
SEARS HOLDINGS
CORP. |
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Subsidiaries |
KMART CORPORATION
OF ILLINOIS INC. |
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Affiliates |
- |
Branches
|
Address |
About 1,000 KMART |
Bankers
|
Bank |
Bank of America |
|
Branch |
Chicago, IL |
Suppliers,
Partners
|
Suppliers |
Not known |
|
Partners |
Not known |
Litigation,
Remarks on Payment
|
Litigation |
None Recorded |
|
Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
Company |
|
Figures are |
Declared |
|
Currency |
USD |
|
Months |
Sales Figures |
Sales |
|
12 |
31/01/2008 |
17,256,000,000= |
Reporter Comments
|
Comments |
A financial assistant controlled the present report. Sales are
decreasing since 3 years now but the business remains profitable. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium
Trade Risk and to be fair. According to our
credit analysts, during the last 6 months, 82% of trade experience indicates
a regular payment. Payments of
imports are currently made with an average of 15 days beyond terms. |
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MAX CREDIT |
USD 10,000,000+ |
|
CREDIT
REQUIRED |
MAXIMUM
CREDIT |
|
Maximum |
USD 10,000,000+ |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.22 |
|
UK Pound |
1 |
Rs.73.03 |
|
Euro |
1 |
Rs.63.14 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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%)