MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALBA
SPECIALTY SEAFOOD COMPANY INC. |
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Registered Office : |
233 Water Street, New York, NY
10038 |
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Country : |
United States |
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Date of Incorporation : |
28.09.1993 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Seafood and
Meat 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 80,000 |
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Status : |
Satisfactory |
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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 |
80,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
Alba Specialty Seafood
Company Inc. |
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Address: |
233 Water
Street, New York,
NY 10038, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 349-5730 + 1 (212) 385-1410 1760020 New York Alan Bigel, President |
Date founded: |
Sept 28, 1993
N.A. N.A. 20
employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales seafood and meat products. |
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BANKS
Israel Discount Bank of New York
Bank of America
BUSINESS
Business & Operations:
Alba Specialty Seafood
Company Inc. is a private company located in New York.
The company’s line of business
is wholesaler of seafood and meat products.
Industry
Overview:
The US fishing and seafood industry consists of 25,000 commercial
fishing vessels; 700 fish processors, and 2,800 distributors, with a final commercial
value of $14 billion. Most companies are privately held or are divisions of
larger corporations, such as Bumble Bee Seafoods; Del Monte (owns StarKist
Foods); and Chicken of the Sea. Most vessels of the US commercial fishing fleet
are independently owned. Annual revenue is about $4 billion for commercial
fishers, $7 billion for fish processors, and $14 billion for distributors. The
industry is highly concentrated at the processing stage and relatively
fragmented at the distribution end. The 50 largest processors control about 70
percent of that market segment. The 50 largest distributors control less than
40 percent of that segment.
Consumer demand and changing tastes drive the industry. The
profitability of individual operations depends on volume. Small companies can
compete effectively with large ones in specialty or local markets. Processing
plants that produce fresh and frozen products typically have between 50 and 250
workers and average annual revenue of $160,000 per worker. Canning operations
are usually smaller, with fewer than 100 workers, but with higher throughput,
about $200,000 of annual revenue per worker.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Alan Bigel, President,
Eric Kiwi, Vice President,
Oric Kiwi, Vice President.
They are also the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company, Alba
Specialty Seafood Company Inc. does not publish any financials.
However our source provide us with the following information :
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Fiscal Year USD |
12/31/2007 |
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Turnover
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4,100,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
0 UCC Filings
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion
This is a small Company working in the US.
The company is pretty well established.
A credit line may be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See Above Regular |
ADVISED
CREDIT
80,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
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%)