MIRA INFORM REPORT

 

 

 

Report Date :

13.06.2008

 

IDENTIFICATION DETAILS

 

Name :

A. GARCIA Y CO. INC.

 

 

Registered Office :

654 Miramar Avenue, PO Box 141600, Arecibo

 

 

Country :

Puerto Rico

 

 

Date of Incorporation :

1968

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesaler of Hardware Products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 Registered Name       

 

A. GARCIA Y CO. INC.

SEGURO SOCIAL PATRONAL: 660276234

 

 

 Summary     

 

INCORPORATED IN 1968. NO FINANCIAL INFORMATION IS SUPPLIED. STABLE PERSPECTIVES. IT DOESN'T REGISTER NEGSATIVE. FITT FOR MODERATE CREDITS WITH THE ADOPTION OF APPROPRIATE GUARANTEES.

 

 

 Operations  

 

HARDWARE PRODUCTS
WHOLESALE

 

 

 Legal Structure       

 

Business type:      Coprporation
Incorporated:       1968
Duration:           Unlimited
End of fiscal year: December 31st

 

 

Contact       

 

Mr Antonio Garcia

Operative address: 654 Miramar Avenue, PO Box 141600, Arecibo, Puerto Rico.

Phone: (1-787) 8787300
Fax: (1-787) 8787350
E-mail: rochi@coquinet.com

 

 

 Partners    

 

President:        ANTONIO GARCIA
Vice-president:   MARIA GOMEZ GARCIA

 

 Personal Information       

 

ANTONIO GARCIA
Puerto Rican, married and born in 1957.

MARIA GOMEZ GARCIA
Puerto Rican, married and born in 1925.

 

 

 Economic-Financial Position       

 

It categoricaly refused to supply up-to-date financial statements, which are only delivered to its suppliers and bank entities.

They only mentioned that its monthly sales are of about u$s 600.000. (no provatory information was shown).

 

 

 Assets    

 

REL ESTATE:
-----------
It doesn't own properties, highlighting that its operative office belongs to its related company AGG Y CIA.INC.

VEHICLES:
---------
It owns 10 trucks of different brands and models.

No title deeds were shown.

 

 

 Evolution and Results      

 

The company is engaged in the wholesale of hardware products.

TRADE NAME: "FERRETERIA MIRAMAR"

It has an appropriate operating office, with administrative area, sales office and warehouse, working together with 2 employees.

95% of its purchases are carried out abroad, mainly in USA, China, Mexico, Taiwan, India and other countries.

AMERICAN SUPPLIERS:
-------------------
BLACK Y DECKER
RIDEGT
CERRADURAS CORBIN

 

 Payment Record and Credit Risk     

 

BANK:
-----
SCOTIABANK
Branch: Arecibo

It operates with own funds and doesn't register problems.

INSURANCE:
----------
SSS SEGUROS INC.

 

 

 Concept      

 

Most of its purchases are carried out abroad, reason why it isn't well-known as credit operator in the local market.

It doesn't register negative records.

 

 

 Final Opinion   

 

It is a company with fourty years of operation and doesn't register negative records, reason why we consider feasible its credit treatment by moderate amounts with the adoption of appropriate guarantees.

* FIT FOR MODERATE CREDITS

 

                                                                                                                                                                          

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions