MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
FASHION OPTIONS, INC. |
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Registered Office : |
1370 Broadway Ave, Suite 901, New York, NY 10018 |
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Country : |
United States |
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Date of Incorporation : |
01.26.1984 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Men and Boys
Clothing. |
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 1,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
1,000,000 USD |
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 Competitive |
IDENTIFICATION
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Company Name: |
FASHION OPTIONS, INC. |
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Address: |
1370 Broadway
Ave, Suite 901, New York, NY
10018, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 947-2223 + 1 (212) 947-3554 0100216496 New Jersey Michael Haddad, President |
Date founded: |
01/26/1984
Corporation for Profit N.A. 20 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Wholesales men and boys clothing. |
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BANKS
The Chase Manhattan Bank
BUSINESS
Business & Operations:
Fashion Options Inc. is a private company located in New York, NY.
Fashion Options Inc’s line of business is wholesaler of men and boys clothing.
The company is factored by
Rosenthal & Rosenthal Inc.
Industry overview:
The US industry includes about 10,000 companies with combined annual
sales of $65 billion. Large companies include Burlington Industries and Unifi.
The industry has become concentrated: the 50 largest companies hold more than
60 percent of the market. About 100 companies have annual sales over $100
million.
Demand is driven by the consumer demand. The profitability of individual
companies depends on efficient operations. Large companies have economies of
scale in production for high-production items. Small companies can compete
successfully by producing specialized textiles. The industry has become more
automated but is still labor-intensive: average annual revenue per employee is
under $170,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Michael Haddad, President,
Eli Haddad, Manager.
They are also two of the
main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Fashion Options Inc. 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 |
100,000,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
0 UCC Filings
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are made on a
regular basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a small working worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
None Regular |
ADVISED
CREDIT
1,000,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)