MIRA
INFORM REPORT
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Report Date : |
26.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
FARINES SPB LIMITED |
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Registered Office : |
1375 Rue Graham Bell Boucherville B4B 6A1 PQ |
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Country : |
Canada |
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Date of Incorporation : |
16.02.1995 |
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Legal Form : |
Provincially Chartered Corporation - Private |
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Line of Business : |
Producer and Distributor of
Bread Meal to Animal Food Producers. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company
Name: FARINES
SPB LIMITED
Trade
Name:
Address: 1375 RUE
GRAHAM BELL
City: BOUCHERVILLE
Founded (D/M/Y): 1995
State/Province: PQ
Zip
Code: B4B
6A1
Sales / Revenue: -
Country: CANADA
Net Income:
Telephone: 450-655-3505
Total Equity:
Facsimile: 450-655-3223
Number of Employees: 26
URL Under
Construction.
Legal
Form: Provincially
Chartered Corporation - Private
Shareholder: Mr. Sylvain
Brasseur
Business
Activity: The
Subject is engaged as a producer and distributor of bread meal to animal
food
producers.
NOTE TO CLIENT
Ms. Diane
Penetrante, Secretary, provided the following information in this report.
LEGAL
Legal Form: Provincially
Chartered Corporation - Private
Status: ACTIVE
Since (D/M/Y): 16/02/1995
The company is NOT
required to publish an annual financial report.
QUEBEC CORPORATE REGISTRY:
FARINES SPB LIMITED
(FARINES SPB LTÉE - French version)
File Number: 1143456599
File Date: 1995-02-16 CONSTITUTION
Status: Active
MANAGERS / KEY PERSONNEL
Mr. Sylvain Brasseur President
Mr. Christian Pardif Financial Director
Ms. Diane Penetrante Secretary
Owners
Mr. Sylvain Brasseur
Majority
AFFILIATED COMPANIES
Management reports
no affiliated companies.
BANKS
State/Province: PQ
Country: CANADA
Management
declined to provide bank information at this time.
PAYMENT HISTORY
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TRADE ITEMS |
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------------------------------------------------------------------------------ |
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Supplier's Name/Industry Terms Amount/Pay Habits/Comments |
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Rptd Open Credit Credit High Total Current Past Due/Pay Period |
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Date Date Limit Limit Dt. Credit Owing $ 1st 2nd 3rd |
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------------------------------------------------------------------------------ |
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ACKLAND GRAINGER CAN: 905-764-8989 |
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*Feb 0 5,000 878 650 228 0 0 |
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WESTBURNE PLOMBERIE: 514-344-9378 |
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*Feb 0 2,793 1,177 0 1,177 0 0 |
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CHRYSLER FINANCIAL: 248-948-4800 1,126 # |
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*Feb Apr/2007 0 55,583 48,676 48,676 0 0 0 |
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Wholesale-Auto Parts: |
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*Feb 0 1,500 75 75 0 0 0 |
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Wholesale-Autosms: Merged accts |
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*Jan 0 4,000 1,811 0 1,811 0 0 |
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Whlsl-Constr/Mine Eq: |
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*Dec 0 2,628 2,628 1,453 1,175 0 0 |
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------- ------- ------- ------- ------- ------- |
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P.I. = 22 90 Days 71,504 55,245 50,854 4,391 0 0 |
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Reported ------- ------- ------- ------- ------- ------- |
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Mfr-Pump & Pumping E: |
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*Oct 0 492 492 492 0 0 0 |
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CITI CARDS CANADA: 800-233-8619 DLA-2007/03/21 332 # |
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*Oct Feb/2005 2,000 1,759 332 332 0 0 0 |
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Mfr-Sheet Metal: |
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*Sep 0 1,673 1,673 0 1,673 0 0 |
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Whlsl-Ind Mach Sppls: |
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*Aug 0 4,523 4,523 0 4,523 0 0 |
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Whlsl-Petro Products: |
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*Jul 0 5,000 3,188 1,239 1,949 0 0 |
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Services-Employment: |
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*Jan 0 12,443 12,443 7,452 4,991 0 0 |
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------- ------- ------- ------- ------- ------- |
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P.I. = 20 Total 97,394 77,896 60,369 17,527 0 0 |
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Reported ------- ------- ------- ------- ------- ------- |
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PAYMENT TRENDS |
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Payment C.I. Number of Total Current Overdue |
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Quarters Index Score Suppliers Owing $ 1st 2nd 3rd |
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4 Qtr/2007 12 14 5 54,423 53,006 1,417 0 0 |
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3 Qtr/2007 29 9 6 63,854 54,498 9,335 4 17 |
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2 Qtr/2007 6 12 4 58,880 58,568 134 3 175 |
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1 Qtr/2007 21 11 5 23,230 8,792 14,039 165 234 |
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4 Qtr/2006 5 10 4 8,931 8,086 805 0 40 |
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3 Qtr/2006 18 3 8 65,796 50,846 4,080 611 10,259 |
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2 Qtr/2006 4 3 8 88,111 80,613 3,971 3,427 100 |
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1 Qtr/2006 13 6 10 78,292 58,666 7,950 11,676 0 |
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4 Qtr/2005 31 22 8 33,305 12,647 13,376 4,420 2,862 |
FINANCIAL INFORMATION
Management declined to provide financial
information at this time.
Outside sources indicate an annual net sales
range of CAD
1,000,000 - 5,000,000.
CURRENT OPERATIONS
SIC Code:
NAICS Code: 311
Food Manufacturing
Number of Employees: 26
Business Activity:
The Subject is
engaged as a producer and distributor of bread meal to animal food producers.
The headquarters and sole location is at the heading address.
PUBLIC RECORD
A Nationwide search of public and bankruptcy courts revealed no Uniform Commercial Codes, tax liens, legal actions or bankruptcy filings under the
Subject's name.
COMMENTS
The Subject is engaged as an established producer and distributor of bread meal
to animal food producers. Payment records are considered to be generally
satisfactory and a search of public records and bankruptcy courts returned no
derogatory information or record of the Company filing a bankruptcy petition.
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%)