MIRA
INFORM REPORT
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Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE MODERN GROUP LTD |
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Registered Office : |
1655 Louisiana
St, Beaumont, TX 77701-1120 |
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Country : |
United States |
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Date of Incorporation : |
17.05.2001 |
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Legal Form : |
Limited Liability Corporation |
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Line of Business : |
Manufacturing
farm machinery, equip manufacturing machine tool access, hand and edge tools |
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: |
THE MODERN GROUP
LTD Dba Dragon Esp; Dragon Products; Modern Ag Products; Modern Manufacturing |
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Address: |
1655 Louisiana
St, Beaumont, TX
77701-1120, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (409) 833-2665 + 1 (409) 833-3170 0015158210 Texas Will Crenshaw, President |
Date founded: |
May 17,
2001 Limited liability corporation N.A. 75 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufacturing
farm machinery, equip manufacturing machine tool access, hand and edge tools |
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BANKS
BANK OF AMERICA
THE
FROST NATIONAL BANK
BUSINESS
Operations &
Business:
The Modern Group Ltd also does business as Dragon Esp; Dragon Products;
Modern Ag Products; Modern Manufacturing.
The Modern Group Ltd is a private company headquartered in Beaumont,
Texas. Dragon Esp's line of business is manufacturing farm machinery, equip
manufactiring machine tool access, hand and edge tools.
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
directors of the company are:
Will
Crenshaw, President,
Casey
Crenshaw, Director.
The
Crenshaw family is also the main shareholder.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
The Modern Group Ltd 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 |
5,900,000 |
There is no legal filling listed with the District Court.
There are several active UCC files in favor of banks and financial
institutions listed with the Secretary of State of Texas.
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 medium 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%)