MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
COMPUTERIZED SECURITY SYSTEMS INC. DBA SAFLOK |
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Registered Office : |
31750 Sherman Drive, Madison Heights, MI 48071 |
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Country : |
United States |
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Date of Incorporation : |
01.07.1983 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures Electrical
Equipment. |
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 400,000 |
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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 |
400,000 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: |
Computerized Security Systems Inc. Dba Saflok |
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Address: |
31750 Sherman
Drive, Madison Heights,
MI 48071, USA
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Phone: Facsimile: ID: State: Managers: |
+ 1 (248) 847-3700 + 1 (248) 583-3228 245809 Michigan Frank Belflower, Chief Executive Officer |
Date founded: |
01/07/1983 Corporation for Profit N.A. N.A. 250
employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Manufactures electrical
equipment. |
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BANKS
Bank of America
BUSINESS
Operations & Business:
SAFLOK™ provides total solutions to meet the most complex needs. They help
to keep promise of maintaining security and safety at all times.
Their solutions fuse the latest technological advances to combine
innovative styling with functionality.
Kaba Holding AG, the parent company of Kaba Ilco Inc., completed the acquisition
of Computerized Security
Systems (CSS) of Madison Heights, Michigan in September of 2006.
With this acquisition, SAFLOK’s™ full range of access control solutions
complement the Kaba product lines
and result in a broader offering to all segments of the lodging and
commercial access control markets.
SAFLOK™ and Kaba products service a broad range of hospitality segments
on a worldwide basis. In
addition, they are major suppliers to the vacation rental market, the
multihousing market, and commercial,
military and government facilities.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Frank Belflower, Chief
Executive Officer,
David Ginn, Director of
Marketing,
Nancy Myron, Vice
President.
The parent company is KabaIl co Corp (Rocky Mount,
NC).
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company,
Computerized Security Systems 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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20,400,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2007 &
2006 by Ervin Leasing Company securing Machinery & Equipment. Amount: NA
1 UCC Filing in 2006 by
Heartland Business Credit securing Equipment . Amount: NA
All previous UCC Filings
have been cleared
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 medium Company working on the global market.
The company is really 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
400,000 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%)