MIRA INFORM REPORT

 

 

Report Date :

10.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

CIRCLE MACHINE ROLLS INC

 

 

Registered Office :

245 W Kentucky Ave Sebring, OH 44672-1909

 

 

Country :

United States

 

 

Date of Incorporation :

01/1977

 

 

Com. Reg. No.:

848169918

 

 

Legal Form :

Private Company

 

 

Line of Business :

Steel Foundries

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow by 6 days

 

 

Litigation :

Clear

 

 

 

 

 

Company Information

 

 

CIRCLE MACHINE ROLLS INC
245 W KENTUCKY AVE
SEBRING, OH 44672-1909
(330) 938-9010

Business Identification Number:

848169918

File Established:

PRIOR TO 01/1977

SIC code: 

STEEL FOUNDRIES, NEC - 3325

 

Executive Summary

 

 

  Intelliscore for CIRCLE MACHINE ROLLS INC

 

 

72.29

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


LOW TO MEDIUM RISK
70% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF ACTIVE ACCOUNTS

NUMBER OF DELINQUENT ACCOUNTS

NUMBER OF TRADES WITH A HIGH BALANCE TO HIGH CREDIT RATIO

NUMBER OF CURRENT ACCOUNTS



  Current DBT range compared to all industries*

6 DBT
($5,700 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 8 DBT        Same industry: 11 DBT

 

 

 

 

 

 

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections:

0

Sum of legal filings:

$0

UCC filings: details (FILED 04/05)

1

Cautionary UCC filings present?

No



Trade Information

Monthly average DBT:

8

Highest DBT previous 6 months:

14

Highest DBT previous 5 quarters:

14

Total continuous trades:

7

Current continuous trade balance:

$5,700

Trade balance of all trades (8):

$23,000

Average balance previous 5 quarters:

$15,260

Highest credit amount extended: details

$50,100

6 month balance range:

$3,000 - $50,600

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

  7 month DBT trends

 

90+

60

30

 


14

 


14

 


0

 


0

 


14

 


6

 


6

 

0

Aug07

Sep07

Oct07

Nov07

Dec07

Jan08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


10

 


7

 


12

 


10

 


5

 

0

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

 

Performance Analysis

 

Predicted DBT for 05/07/2008: 6 DBT

Payment Trend Indication:
Show No Identifiable Trend

Industry payment comparison:
Has paid sooner than 50% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CREDIT, and CONTRCT

 

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Trade Payment Information

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

 FREIGHT

03/2008

11/2006

VARIED

 

 

$0

 

 

 

 

 

 

-IRON&STEEL

01/2008

 

NET 30

 

$50,100

$1,700

 

100%

 

 

 

 

+MANUFCTRNG

01/2008

01/2008

NET 30

 

$2,200

$2,200

100%

 

 

 

 

CUST 10 YR

=MED SUPPLY

01/2008

 

VARIED

 

$6,000

$900

16%

84%

 

 

 

 

 PACKAGING

03/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 1 YR

+UTILITY

01/2008

01/2008

NET

 

$900

$900

100%

 

 

 

 

PROMPT

 WAREHOUSE

02/2008

05/2007

CREDIT

 

$100

$0

 

 

 

 

 

 

 

Trade Payment Totals

 

 

Trade Payment Experiences

Account Status
Days Beyond Terms

 

Type

Lines
Reported

 

 

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

Continuously Reported

7

 

 

$59,300

$5,700

57%

43%

 

 

 

DBT: 6

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

7

 

 

$59,300

$5,700

57%

43%

 

 

 

DBT: 6

 

Additional Payment Experiences

 

 

Trade Payment Experiences
(Trade Lines With an (*) after date are newly reported)

Account Status
Days Beyond Terms

 

Business
Category

Date
Reported

Last
Sale

 

Payment
Terms

 

Recent
High
Credit

 

Balance

Cur

1-30

31-60

61-90

91+

Comments

=METAL DIST

07/2005

07/2005

5/10N30

 

$67,100

$17,300

28%

58%

14%

 

 

 

 

Monthly Payment Trends

 

 

Payment Trends Analysis
STEEL FOUNDRIES, NEC INDUSTRY SIC: 3325

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

6

$5,700

 

57%

43%

 

 

 

JAN08

71%

11

6

$5,700

 

57%

43%

 

 

 

DEC07

72%

9

14

$32,300

 

10%

90%

 

 

 

NOV07

76%

8

0

$50,600

 

100%

 

 

 

 

OCT07

48%

33

0

$10,400

 

100%

 

 

 

 

SEP07

46%

34

14

$12,100

 

6%

94%

 

 

 

AUG07

46%

34

14

$12,100

 

6%

94%

 

 

 

 

Quarterly Payment Trends

 

 

Payment History - Quarterly Averages

Account Status
Days Beyond Terms

Quarter

Months

DBT

Balance

Cur

1-30

31-60

61-90

91+

Q4 - 07

OCT-DEC

5

$31,100

 

69%

31%

 

 

 

Q3 - 07

JUL-SEP

10

$12,100

 

35%

65%

 

 

 

Q2 - 07

APR-JUN

12

$3,300

 

34%

60%

6%

 

 

Q1 - 07

JAN-MAR

7

$20,700

 

51%

49%

 

 

 

Q4 - 06

OCT-DEC

10

$9,100

 

35%

65%

 

 

 

 

 

 

 

 

 

 

 

Inquiries

 

 

  Summary of Inquiries

Business
Category

MAR08

FEB08

JAN08

DEC07

NOV07

OCT07

SEP07

AUG07

JUL07

BANK

 

 

 

 

 

1

 

 

 

Totals

 

 

 

 

 

1

 

 

 

 

UCC Profile

 

The UCC Filings are summarized and listed below.

UCC Summary

Filings

Date Range

Year

Cautionary
UCCs**

Total
Filed

Released/
Term'd

Cont

Amended/
Assigned

JAN - PRESENT

 

2008

 

 

 

 

 

JUL - DEC

 

2007

 

 

 

 

 

JAN - JUN

 

2007

 

 

 

 

 

JUL - DEC

 

2006

 

 

 

 

 

JAN - JUN

 

2006

 

 

 

 

 

PRIOR TO JAN

 

2006

 

1

 

 

 

Total

 

 

1

 

 

 

 

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

 

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  UCC Filings

 

UCC FILED Date: 04/25/2005

Filing Number: OH00088679758

Jurisdiction: SEC OF STATE OHIO

Secured Party: CHARTER ONE BANK, N.A. OH CLEVELAND 44114 1215 SUPERIOR AVEN

Collateral:  

 

Commercial Finance Relationships

 

 

  Banking Relationships

 

Financial Institution: CHARTER ONE BANK

Address: 1 CITIZENS DRIVE RIVERSIDE RI02915

Phone: (401) 734-5286

Account Type: BORROWER

Date Opened: 10/31/2005

Account Rating: NO COMMENT AS OF 09/29/2006


Financial Institution: CHARTER ONE BANK

Address: 1 CITIZENS DRIVE RIVERSIDE RI02915

Phone: (401) 734-5286

Account Type: BORROWER

Date Opened: 04/08/2005

Account Rating: NO COMMENT AS OF 09/29/2006


Financial Institution: CHARTER ONE BANK

Address: 1 CITIZENS DRIVE RIVERSIDE RI02915

Phone: (401) 734-5286

Account Type: BORROWER

Date Opened: 07/27/2005

Account Rating: NO COMMENT AS OF 09/29/2006


Financial Institution: CHARTER ONE BANK

Address: 1 CITIZENS DRIVE RIVERSIDE RI02915

Phone: (401) 734-5286

Account Type: BORROWER

Date Opened: 04/08/2005

Account Rating: NO COMMENT AS OF 09/29/2006

 

Company Background Information

 

 

  Additional Company Background Information

 

Key Personnel

Principal(s): 

PETER KUHLMAN, PRESIDENT

 

PETER KUHLMANN, PRESIDENT

 

KEN KUHLMANN, VICE PRESI


Operating Information

Primary SIC Code: STEEL FOUNDRIES, NEC - 3325

Secondary SIC Code: FABRICATED PLAT WRK - BOILER SHPS - 3443

Additional SIC Code: 3547 - 3559


Number of Employees: 28

Sales: $3,750,000

 

 

 

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