MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
RAYS APPAREL, INC. |
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Registered Office : |
20 Goodyear, |
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Country : |
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Date of Incorporation : |
10.03.1993 |
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Com. Reg. No.: |
C1853604 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufacturer and Wholesaler of Men`s and Boy`s Clothing, Slacks and Trousers and Shorts, Shirts
and Blouses, Sweaters, Coats and Jackets, Suits, Dresses, Skirts, Saris, Kimonos, Overalls and Coveralls, Folkloric Clothing… |
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 : |
No Complaints |
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Litigation : |
Clear |
Company
Name
RAYS APPAREL, INC.
Contact Information
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Address |
20 Goodyear Irvine, CA 92618 USA |
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Telephone |
949-206-8686 |
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Fax |
714-436-9571 |
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Website |
- |
Registration Data
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Date of Registration |
March 10, 1993 |
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Registration number |
C1853604 |
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Legal address |
20 Goodyear Irvine, CA 92618 USA |
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Legal Form |
Corporation – Profit |
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Share Capital |
- |
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Other Registration Data |
- |
Shareholders
with Shares
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Shareholder Names |
Share% |
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Private people |
100 |
Board/Executive
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Name |
James STARK |
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Position within the company |
President |
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Name |
Wendia LAM |
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Position within the company |
Secretary |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
The Company is manufacturer and wholesaler of men`s
and boy`s clothing, slacks and trousers and shorts,
shirts and blouses, sweaters, coats and jackets, suits, dresses, skirts, saris, kimonos, overalls and coveralls, folkloric clothing…
Brands include Ocean Pacific, Split, Old Navy and Jimmy Z.
Staff
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Number of staff employed |
105 |
Export/Import
(Countries,
goods and total values for the period)
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Imports From |
Europe, Far East |
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Exports To |
Worldwide |
Facilities
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Owned |
Manufacture, warehouse and office |
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Premises Size |
136,000 sq.ft. |
Subsidiaries
and Participation
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Parent Company |
- |
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Subsidiaries |
- |
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Affiliates |
- |
Branches
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Address |
None |
Bankers
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Bank |
Wells Fargo |
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Branch |
Irvine, CA |
Suppliers,
Partners
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Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
There are 12 UCC files listed with the Secretary of State of California.
Financial
Information
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Source |
Bank |
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Figures are |
Declared |
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Currency |
USD |
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Months |
Sales Figures |
Sales |
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12 |
31/12/2007 |
19,000,000 |
Reporter Comments
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Comments |
On a direct call,
nobody was available to answer our questions. We sent a fax but no answer
was received. |
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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, 88% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 10 to
15 days beyond terms. We noted an increase in delays of payments during last 3 months. |
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MAX CREDIT |
USD 400,000= |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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%)