MIRA
INFORM REPORT
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Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
PARAGON INDUSTRIES, INC |
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Registered Office : |
4285 N Golden State Blvd Fresno, CA 93722 |
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Country : |
United States |
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Date of Incorporation : |
9.18.1974 |
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Legal Form : |
Business Corporation |
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Line of Business : |
Wholesaler of Brick,
Stone and Related Construction Materials |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1,500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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Maximum |
1,500,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMICAL DATA |
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FORM OF GOVERNMENT ECONOMICAL RISK |
Federal None |
CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name : |
PARAGON INDUSTRIES, INC D/B/A BEDROSIANS TILE
& MARBLE |
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Address : |
4285 N GOLDEN STATE
BLVD FRESNO, CA 93722 |
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Phone : Facsimile : ID : State: Managers : |
(559) 275-5000 (559) 275-1753 C0722371 California Larry E. Bedrosian is the
CEO of the Company |
Date founded : |
9/18/1974 Business Corporation Private Company N.A. 300 Employees |
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Legal form : |
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Stock : Value: |
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Staff : |
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Business : |
Wholesaler of Brick, Stone and Related Construction Materials |
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BANKS |
BANK OF AMERICA |
BUSINESS
At above address, we find
the Company’s headquarters and a showroom.
Paragon Industries Inc does
business as BEDROSIANS
Bedrosians is one of the
largest independent ceramic tile and stone importers and distributors in the
United States.
The Company make purchases
in the U.S. and imports from Europe and Asia.
Business
Overview:
In the United States, investment in residential construction declined by
6% in 2006, as a result of an imbalance between a surplus offering in the
marketplace and declining demand, generated by a 100% price increase over a
period of 10 years (with significant household debt). This trend has had a
negative impact on the sector’s professionals, and notably suppliers of wooden
components (structures, frameworks, panels etc), building contractors and even
property developers, who have had to offer reductions or sales incentives. This
trend is likely to continue, or even intensify, in 2007.
However, all the activities related to the improvement of houses and luxury
materials for houses have known a growth in 2006.
SHAREHOLDERS
– SUBSIDIARIES – MANAGERS
The Company is privately
held.
Larry E. Bedrosian is the
Owner of the Company.
He runs the company with
family members Ara J. Movsesian and Gary P Bedrosian.
Paragon Industry Inc. also
does business as:
Bedrosian Building Supply;
Bedrosian's Tile & Marble; Bedrosians Tile & Stone and Bedrosans
The Company has 29 full
service outlets located throughout California, Arizona, Colorado, Nevada,
Washington, and Florida.
FINANCIALS
- COMMERCIAL TRENDS AND FORECAST
The Company would not provide its balance sheets which it regards as
strictly confidential.
However our
financial sources provided us with the following figures.
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Fiscal Year |
2005 |
2006 |
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Turnover
in USD |
42,500,000 |
45,000,000 |
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Net
Results |
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5,400,000 |
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Current
Debt/Liability short term Medium
term |
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3,000,000 5,000,000 |
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Long
term |
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9,000,000 |
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There are 350 UCC file listed
with several Secretaries of State throughout the USA.
We found 4 legal filings
listed with the Small Claims Court.
RATING
Local credit bureau gave a
good credit rate.
The Company is in “good
standing”.
This means that all local
and federal taxes were paid on due date.
As far as we know, payments
are made on regular basis of 41 days
Cash-flow is said to be
large and the business is profitable.
Final opinion :
This is a medium size
business working on the US and international markets.
The market is developing in
good and regular ways.
We estimate that the
Company does not present a risk.
A business connection may
be conducted on regular basis.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Good Controlled Sufficient |
PUBLIC PAYMENTS |
No Regular |
ADVISED
CREDIT
1,500,000 USD
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%)