MIRA INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION DETAILS
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Name : |
GREEN FRONT FURNITURE STORE, INCORPORATED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
18.04.1968 |
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Com. Reg. No.: |
0116036-5 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Provider of services in areas like Office Furniture, Interior Design
and Office Products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
Company
Name
GREEN FRONT FURNITURE STORE, INCORPORATED
Company
acronym
THE GREEN FRONTS (PRINCE WILLIAM CO.)
Contact Information
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Address |
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Telephone |
434-392-4882 |
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Fax |
434-392-8552 |
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Website |
www.greenfront.com |
Registration Data
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Date of Registration |
04-18-1968 |
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Registration number |
0116036-5 |
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Legal address |
Donald C. BLESSING |
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Legal Form |
Corporation – Profit |
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Share Capital |
1,000 shares common, no par value |
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Other Registration Data |
- |
Shareholders
with Shares
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Shareholder Names |
Share% |
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Private people |
100 |
Board/Executive
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Name |
Richard F. CRALLE Jr. |
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Position within the company |
President and CEO |
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Name |
Lucy C. STORY |
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Position within the company |
Vice President |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Green Front Furniture, established in the 1960s, is a locally owned and
operated company that offers a wide range of furniture items. The company
provides services in areas, such as office furniture, interior design and
office products. Green Front Furniture offers various major brand names of
office furniture and supplies. It also provides dining tables, hutches, chests,
coffee and console tables, vanities, chairs, lights, mirrors, sofas and beds.
In addition, Green Front Furniture offers antique furnishings, reproductions
and accessories. The company provides furniture items in various woods and
metals, such as copper, bronze and silver. Green Front Furniture, located in
Staff
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Number of staff
employed |
60 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Europe, |
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Exports To |
- |
Facilities
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Owned |
Office and warehouse |
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Premises Size |
2,000 sq. feet |
Subsidiaries
and Participation
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Parent Company |
- |
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Subsidiaries |
- |
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Affiliates |
- |
Branches
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Address |
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Bankers
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Bank |
Benchmark Community Bank |
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Address |
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Telephone |
(434) 392-9528 |
Suppliers,
Partners
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Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
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Source |
Bank |
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Figures are |
Estimate |
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Currency |
USD |
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Months |
Sales Figures |
Sales |
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12 |
31/12/2007 |
20,000,000+ |
Reporter Comments
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Comments |
On a direct call, nobody accepted to answer our
questions. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium
Trade Risk and to be fair. The Company is improving its payments, but the cash is low, due to high
inventories and bad conditions of the market. According to our credit analysts, during the last 6 months, 92% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 15 to
20 days beyond terms. |
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MAX CREDIT |
USD 500,000= |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
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Maximum |
USD 500,000= |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.74 |
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1 |
Rs.74.37 |
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Euro |
1 |
Rs.62.78 |
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%)