MIRA
INFORM REPORT
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Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
FREDRICKS IMPORTING, INC. |
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Registered Office : |
110 Smithson Dr, Hartselle, AL 35640-5988 |
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Country : |
United States |
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Date of Incorporation : |
05.15.2002 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesaler of Farm and Garden
Machinery |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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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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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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: |
Fredricks
Importing, Inc. |
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Address: |
110 Smithson Dr,
Hartselle, AL
35640-5988, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (256) 751-3555 + 1 (256) 751-3555 D/C 223-000 Alabama Bonnie Fredericks, President |
Date founded: |
05/15/2002 Corporation for profit N.A. 10 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Wholesaler
of Farm and garden machinery |
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BANKS
UNION
PLANTERS BANK
BUSINESS
Operations & Business:
Fredrick's Importing Inc is a private company located in Hartselle,
Alabama. Fredrick's Importing Inc's line of business is wholesaler of farm and
garden machinery.
Industry Overview:
The distribution of farm and garden equipment in the US is handled by about
1,400 wholesalers and 5,000 dealers, with combined annual revenue of $40
billion. The typical distributor is privately held and has less than $10
million in annual sales. The industry is fragmented: the 50 largest
distributors hold about 35 percent of the market. Only a few distributors
operate more than one location.
Demand is driven by the health of the farming sector, which is tied to
crop prices. The profitability of individual companies depends on good
merchandising and efficient operations. Large distributors have few economies
of scale but can offer customers a wider range of products. Small distributors
can compete successfully by holding exclusive territory rights to popular
products. The industry is only moderately automated: average annual sales per
employee are about $350,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Bonnie Fredericks, President.
He
is also the main shareholder.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Fredrick's Importing 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 |
1,600,000 |
There is no legal filling listed with the District Court.
There is 1 active UCC file listed with the Secretary of State of Alabama.
Filing Number: 03-0919685
Filing Date: 10-20-2003
Filing Expiration Date:
10-20-2008
Filing Location: SECRETARY OF
STATE/UCC DIVISION
600 DEXTER AVE
MONTGOMERY AL 36104
Filing Type: ORIGINAL
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Debtor: FREDRICKS IMPORTING INC
Address: 110 SMITHSON DRIVE
HARTSELLE AL 35640
Secured Party: UNION PLANTERS BANK NA
Address: 312 CLINTON AVENUE
HUNTSVILLE AL 35801
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.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion:
This is a small company working in the US.
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 |
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%)