MIRA
INFORM REPORT
|
Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
WILLIAM
BARNET & SON, LLC. |
|
|
|
|
Registered Office : |
1300 Hayne Street, Arcadia, SC
29320 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
1898 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesales Nondurable
Goods, Manufactures Manmade Fibers. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1,300,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
REQUIRED CREDIT |
ADVISED CREDIT |
|
MAXIMUM |
1,300,000 USD |
GEOPOLITICS
|
POLITICAL DATA |
ECONOMIC DATA |
||
|
FORM OF GOVERNMENT ECONOMIC RISK |
Federal
|
CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
|
Company Name: |
William Barnet & Son,
Llc. |
||
|
Address: |
1300 Hayne
Street, Arcadia, SC 29320, USA |
||
|
Phone: Facsimile: ID: State: Managers: |
+ 1 (864) 576-7154 + 1 (864) 576-3406 44179 South Carolina William Mc Creary, President |
Date founded: |
1898 Incorporated Jan. 1, 2001 Limited Liability Company N.A. N.A. 600
employees |
|
Legal form: |
|||
|
Stock: Value: |
|||
|
Staff: |
|||
|
Business: |
Wholesales nondurable goods, manufactures manmade fibers. |
||
BANKS
Bank of America
BUSINESS
Business & Operations:
William Barnet & Son, Llc. is a private company headquartered in
Arcadia, South Carolina. William Barnet & Son, Llc's line of business is
wholesaler of nondurable goods and manufacturer of cellulosic manmade fibers
manmade broadwoven fabric mill.
Since started in 1898 by William Barnet, Barnet has evolved into a
global company that manufactures, trades and contract processes a wide variety
of synthetic products for the:
-Chemical fiber,
-Engineered resin,
-Textile related industries.
With the purchase of Nega-Stat® from Dupont™, Barnet is able to offer unique
and technically designed static dissipative yarns.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
William Barnet III,
Chairman,
William Mc Creary,
President,
D Byrd Miller III,
Treasurer.
They are also among the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company,
William Barnet & Son, Llc. does not publish any financials.
However our source provide us with the following information :
|
Fiscal Year USD |
12/31/2007 |
|
||
|
Turnover
|
65,300,000 |
||
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
6 UCC Filings in 2005 &
4 in 2001 by Bank of America securing Inventory & 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.
-
The cash flow is correct.
-
Payments are made on a regular basis.
Our final opinion
This is a large company working worldwide.
The company presents correct financial figures and is well established.
A credit line may be considered.
SUMMARY
|
FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
||
|
PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
No Regular |
ADVISED
CREDIT
1,300,000 USD
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.72 |
|
UK Pound |
1 |
Rs.82.17 |
|
Euro |
1 |
Rs.65.90 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)