MIRA INFORM REPORT

 

 

Report Date :

03.05.2008

 

 

IDENTIFICATION DETAILS

 

Name :

CORUS HARDWARE CORP.

 

 

Registered Office :

Calle 8 Lote 20, Urbanizacion Industrial Luchetti, Bayamon

 

 

Country :

Republic of Puerto Rico.

 

 

Date of Incorporation :

2001

 

 

Legal Form :

Corporate Company

 

 

Line of Business :

Commercialization of Hardware and Materials for Construction.

 

 

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 :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 Registered Name       

 

 

CORUS HARDWARE CORP.

 

 

Summary      

 

 

INCORPORATED IN 2001. BEGINNER OF ACTIVITIES. NO BALANCE SHEET OR FINANCIAL DATA ARE SUPPLIED. ACCEPTABLE PERFORMANCE AND STABLE PERSPECTIVES. IT DOESN'T REGISTER NEGATIVE. FIT FOR MODERATE CREDITS WITH THE ADOPTION OF APPROPRIATE GUARANTEES.

 

 

Operations       

 

HARDWARE PRODUCTS
MATERIALS FOR CONSTRUCTION
SALE

 

 

Legal Structure       

 

Business type:      Corporate Company
Incorporated:       2001
Registered:         2001
Duration:           Unlimited
End of fiscal year: December 31st

 

 

 Contact

 

Legal and Operative address: Calle 8 Lote 20, Urbanizacion Industrial Luchetti, Bayamon, Republic of Puerto Rico.
Phone: 1-787 798 6650
Fax: 1-787 780 0015
E-mail: ednai@60.com

 

 

 

 

 

 

Partners     

 

 

President:       FERNANDEZ ANTONIO                  
Vice-president:    FERNANDEZ EMILIO                  

They are in charge of the social signature use.

 

 

 History       

 

According to our investigations, these activities were started by this company in 2001.

It isn't known if its members perform other acitivities.

 

 

 Economic-Financial Position       

 

Categorical refusal from its representatives to supply information, much less financial data.

According to our consultations with third parties, the company has a medium level of importance and doesn't register ups and downs.

 

 

 Assets    

 

It is owner of the large property located in the previously exposed address, which has a good realization value.

It owns several vehicles, from which no details were obtained.

 

 

 Evolution and Results      

 

It is engaged in the commercialization of hardware and materials for construction.

Its main products are cement, wood, floor tiles, tools and other accessories.

It operates in the local market, having nowadays a customers portfolio of about 500 companies.

It has a good administrative and commercial organization, where its directors employ 50 people.

Up to now it has a normal performance and stable perspectives.

 

 

 Payment Record and Credit Risk     

 

BANK:
-----
BANK OF AMERICA        Branch: Puerto Rico              

INSURANE:
---------
No details were obtained.

 

 

 Concept      

 

Up to now there are no elements that could affect the company's commercial concept.

According to our consultations, it complies in due time the commitments taken.

FULFILLMENT: WITHOUT OBJECTIONS

 

 

 Final Opinion 

 

We consider feasible the credit treatment by this company by amounts of moderate importance with the adoption of appropriate guarantees.

 

 

 

 

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