MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAINBOW
CHEMICALS COMPANY |
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Registered Office : |
910 Skokie Boulevard, Suite 112, Northbrook, Il 60062 |
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Country : |
United States |
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Date of Incorporation : |
01.03.1990 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Consulting Services and
Provides Chemicals and Organic Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 5,000 |
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Status : |
Small Company |
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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 |
5,000 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: |
Rainbow Chemicals Company |
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Address: |
910 Skokie
Boulevard, Suite 112, Northbrook,
Il 60062, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (847) 562-9300 + 1 (847) 562-9306 55822425 Illinois Ajit V. Mehta, President |
Date founded: |
01/03/1990
Corporation for Profit N.A. N.A. 3
employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Consulting services and provides chemicals and organic products. |
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BANKS
Bank One
BUSINESS
Operations & Business:
Rainbow Chemicals Company is a private
company located Northbrook,
Illinois.
They provide a link between the marketing needs of their U.S. customers
and the manufacturing capabilities of their associated Asian suppliers.
The company’s objective is to develop long-term business and market
opportunities.
The company also offers the following products:
-Biological stains and dyes,
-Specialty colorants,
-Pigments and toners,
-Dyes for plastics,
-Organic Synthesis.
We called the company several time, Mr. Yogi Mehta, indicated as contact was unavailable and the person
interviewed refuse to release any information.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Ajit V. Mehta, President,
Yogi Mehta, Member.
The Mehta family is the
main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company,
Rainbow Chemicals Company 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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205,000 |
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Operating
Profit |
9,000 |
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Net
Income |
4,000 |
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Net
Worth |
20,000 |
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Liabilities |
17,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2005 by
Bank One NA, securing Inventory.
Amount: Unspecified
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 45 days basis.
Our final opinion
This is a small Company working on the global market.
The company presents just correct financial figures.
A credit line may be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Low Controlled Correct |
PUBLIC PAYMENTS |
See Above Regular |
ADVISED
CREDIT
5,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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%)