MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMERICAN HEALTH & NUTRITION, INC. |
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Registered Office : |
3990 Varsity Dr,
Ann Arbor, MI 48108-2226 |
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Country : |
United States |
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Date of Incorporation : |
04.06.1989 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Groceries |
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 360,000 |
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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 |
360,000 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 Satisfying |
IDENTIFICATION
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Company Name: |
AMERICAN HEALTH
& NUTRITION, INC. |
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Address: |
3990 Varsity Dr,
Ann Arbor, MI
48108-2226, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (734) 677-5570 + 1 (734) 677-5572 486536 Michigan Dennis Singsank,
President |
Date founded: |
04/06/1989
Corporation for Profit N.A. N.A. 35 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales groceries |
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BANKS
Comerica Bank
BUSINESS
Operations:
American Health & Nutrition, Inc. is a private company headquartered
in Ann Arbor, Michigan. American Health & Nutrition, Inc's line of business
is wholesaler of groceries.
Industry overview:
The fruit and vegetable processing industry in the US includes about
2,000 companies with combined annual revenue of $40 billion. Large companies
include Heinz, McCain, Del Monte, JR Simplot, grower cooperatives like Ocean
Spray and Diamond, and divisions of large food companies like ConAgra and
General Mills. The industry is highly concentrated: the 50 largest companies
hold more than 75 percent of the market. Smaller companies have local or
regional operations that don't require the large distribution systems of the
big companies.
Demand is driven by food consumption, which depends on population
growth. The profitability of individual companies depends on efficient
operations because products are commodities subject to intense price
competition. Companies compete largely based on cost and their ability to
distribute the finished product. Large companies have advantages in
distribution operations. Small companies can compete effectively in local or
regional markets.
The major processed crops in the US are tomatoes (solid tomato and
tomato paste products); potatoes (French fries, potato chips); and oranges
(orange juice). Other important processed products include corn; cucumbers
(pickles); beans; grapefruit; apples (apple juice, applesauce); grapes (raisins);
strawberries; pineapples; and nuts. The two major types of operation are
canning and freezing.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Dennis Singsank, President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
American Health & Nutrition, 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 |
18,000,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
2 UCC Filings in 2006 by
Comerica Bank securing Inventory /Equipment. Amount: NA
All previous UCC Filings
have been cleared.
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 company
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 |
See above Regular |
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ADVISED CREDIT |
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360,000 USD |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)