MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAG SUPPLY COMPANY,
INC. |
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Registered Office : |
2216 10th Court South, Birmingham, AL 3502 |
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Country : |
United States |
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Date of Incorporation : |
05.02.1991 |
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Com. Reg. No.: |
D/C 141-438 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Distributor of Bags |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
|
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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Maximum Credit Limit : |
USD 15,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
AG SUPPLY COMPANY, INC.
Company acronym: --
Contact Information
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Address |
126 Park Avenue Moody, AL 35004 USA |
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Telephone |
205-640-2856 |
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Website |
www.bagsupply.com |
Registration Data
|
Date of Registration |
February 5, 1991 |
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Registration number |
D/C 141-438 |
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Legal address |
2216 10th Court South Birmingham, AL 3502 USA |
|
Legal Form |
Corporation – Profit |
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Share Capital |
USD 1,000= |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
LIMBAUGH family |
100 |
Board/Executive
|
Name |
Jerry P. LIMBAUGH |
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Position within the company |
President & CEO |
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Name |
Dennis LIMBAUGH |
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Position within the company |
Vice President |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Bag Supply Company, Inc. was founded in 1990 as a single
source, full service bag distributor based in Birmingham, Alabama
Primary products include all polypropylene,
polyethylene, multi-wall paper and burlap bags for commercial applications. Bag
Supply Company serves the Mineral, Chemical, Agriculture and Construction
industries throughout North America.
Staff
|
Number of staff employed |
4 |
Export/Import
(Countries,
goods and total values for the period)
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Imports From |
Far East |
Facilities
|
Owned |
Warehouse and office |
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Premises Size |
5,000 sq. feet |
Subsidiaries
and Participation
|
Subsidiaries |
Bag Supply Texas, Inc. (manufacture) Polisacos De Mexico, SA DE CV (manufacture) |
Bankers
|
Bank |
Regions Bank |
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Address |
417 North 20th Street, Birmingham, AL 35203 |
Suppliers,
Partners
|
Suppliers |
Not known |
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Partners |
Not known |
Litigation, Remarks
on Payment
|
Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
Bank |
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Figures are |
Declared |
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Currency |
USD |
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Months |
Sales Figures |
Sales |
|
12 |
31/12/2007 |
640,000= |
Reporter Comments
|
Comments |
Pam Patterson, Controller, confirmed name of the business, however
deferred all other information. |
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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, 84% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 5 to 10 days
beyond terms. |
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MAX CREDIT |
USD 15,000= |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
|
Maximum |
USD 15,000= |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.82 |
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UK Pound |
1 |
Rs.73.08 |
|
Euro |
1 |
Rs.65.56 |
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%)