MIRA INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
SPARROW ENTERPRISES, LTD |
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Registered Office : |
98R |
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Country : |
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Date of Incorporation : |
21.12.1934 |
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Com. Reg. No.: |
041854900 |
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Legal Form : |
Corporation –
Profit |
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Line of Business : |
Manufacturers,
Distributors and Specialty Food Retailers. |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
SPARROW ENTERPRISES, LTD
Company acronym:
Contact Information
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Address |
98R |
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Telephone |
617-569-3900 |
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Fax |
617-569-5888 |
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Website |
www.chocolatebysparrow.com |
Registration Data
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Date of Registration |
12-21-1934 |
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Registration number |
041854900 |
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Legal address |
98R |
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Legal Form |
Corporation –
Profit |
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Share Capital |
10,000 shares
common, no par value (6,142 shares issued) |
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Other Registration
Data |
- |
Shareholders
with Shares
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Shareholder Names |
Share% |
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Family BAYBUTT |
100 |
Board/Executive
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Name |
Henry S. BAYBUTT |
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Position within the company |
President & CEO |
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Name |
Theresa N. BAYBUTT |
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Position within the company |
Secretary |
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Name |
Sarah R. BAYBUTT |
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Position within the company |
Treasurer |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Sparrow Enterprises
was founded in 1924 as a regional distributor of cocoa powder and chocolate to
the confectionery trade. Today, Sparrow offers over ten specialty chocolate
lines and carries over 2,000 items for use in baking and confectionery
industries.
The company
distributes nationally to manufacturers, distributors and specialty food
retailers. We import and distribute quality chocolate products from Callebaut,
Valrhona, El Rey, Wilbur, Blommer, Schokinag,
Sparrow imports and
distributes a variety of seeds, such as sesame seed, poppy seed, caraway seed,
as well as dessicated coconut, milk powders, frozen fruit purees, and tree nuts
including walnuts and pecans.
Staff
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Number of staff employed |
23 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Europe, |
Facilities
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Rented |
Manufacture,
warehouse and office |
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Premises Size |
5,000 sq. feet |
Bankers
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Bank |
Century Bank &
Trust Co. |
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Address |
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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 |
Declared |
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Currency |
USD |
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Months |
Sales Figures |
Sales |
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12 |
31/12/2007 |
3,500,000= |
Reporter Comments
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Comments |
A salesperson controlled the present report but deferred any other
information. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Low
Trade Risk and to be fair. According to our
credit analysts, during the last 6 months, 91% of trade experience indicates
a regular payment. Payments of
imports are currently made with an average of 5 days beyond terms. |
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MAX CREDIT |
USD 100,000= |
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CREDIT
REQUIRED |
MAXIMUM
CREDIT |
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Maximum |
USD 100,000= |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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|
1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)