MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
J.C. PENNEY PURCHASING
CORPORATION |
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Registered Office : |
CT Corporation System, |
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Country : |
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Date of Incorporation : |
17.06.1959 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Purchases for the JC PENNEY Department Stores. |
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 10,000,000+ |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
J.C. PENNEY PURCHASING CORPORATION
Contact Information
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Address |
6501 Legacy Drive A2/1205 Plano, TX 75024 USA |
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Telephone |
972-431-1000 |
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Fax |
972-431-1362 |
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Website |
www.jcpenney.com |
Registration Data
|
Date of Registration |
June 17, 1959 |
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Registration number |
New York State does not issue organization identification numbers |
|
Legal address |
CT Corporation System 111 8th Avenue New York, NY 10011 USA |
|
Legal Form |
Corporation – Profit |
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Share Capital |
- |
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Other Registration Data |
- |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
J.C. PENNEY CORPORATION |
100% |
J. C. Penney Corporation, Inc., sells merchandise and services to customers
through its department stores and catalog/Internet channels. It markets family
apparel, jewelry, shoes, accessories, and home furnishings. The company’s
department stores also provide salon, optical, portrait photography, and custom
decorating services.
As of July 26, 2008, Penney Corporation operated 1,074 department stores
in the United States and Puerto Rico. It also owns and operates four
Internet/catalog fulfillment centers and four regional warehouses. The company
was founded in 1902 and is based in Plano, Texas.
Board/Executive
|
Name |
Peter M. McGrath |
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Position within the company |
Chairman |
|
Name |
Ronald Shulman |
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Position within the company |
President |
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Name |
J.B. McAlister |
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Position within the company |
Vice President |
|
Name |
F.N. Napoli |
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Position within the company |
Vice President and
Treasurer |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
The Company is in charge of the purchases for the JC PENNEY department
stores.
Staff
|
Number of staff employed |
1,000 |
Export/Import
(Countries, goods and total values for the
period)
|
Imports From |
Worldwide |
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Exports To |
Puerto Rico |
Facilities
|
Rented |
Warehouse and office |
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Premises Size |
100,000 sq. feet |
Subsidiaries
and Participation
|
Parent Company |
JC PENNEY CORPORATION (A wholly owned subsidiary of JP PENNEY COMPANY INC. quoted with the New
York Stock Exchange under symbol JCP) |
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Subsidiaries |
- |
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Affiliates |
- |
Branches
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Address |
- |
Bankers
|
Bank |
Bank of America |
Suppliers,
Partners
|
Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
|
Litigation |
None Recorded |
|
Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
Accounting Assistant |
|
Figures are |
Consolidate |
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Currency |
USD |
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Months |
Sales Figures |
Sales |
|
12 |
02/02/2008 |
19,860,000,000 |
Reporter Comments
|
Comments |
In the interview conducted with the accounting assistant who sent us to
the website of the company of the parent company.
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium Trade Risk and to be
fair. According to our credit analysts, during the last 6 months, 72% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 20 days
beyond terms. |
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MAX CREDIT |
USD 10,000,000+ |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.79 |
|
UK Pound |
1 |
Rs.81.27 |
|
Euro |
1 |
Rs.63.91 |
RATING EXPLANATIONS
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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 |
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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%)