MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIRECT DISTRIBUTORS, INC. |
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Registered Office : |
632
Highway 70 West, Garner, NC 27529 – USA |
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Country : |
United States |
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Date of Incorporation : |
07.05.1970 |
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Legal Form : |
Corporation
- Profit |
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Line of Business : |
Wholesale
Farm Equipment and Supplies. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & Address
Company name : DIRECT DISTRIBUTORS, INC.
Address : 632 Highway 70 West, Garner, NC 27529 - USA
Telephone : 919-772-8625
Fax : 919-772-3435
Website : ---
Summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
0041583 North
Carolina Corporation
- Profit May 7,
1970 1,000,000
shares common USD 1 par
value Barry W.
PARTLO |
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ACTIVITIES & OPERATIONS
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History: Business Staff: |
Name changed
from DIRECT DISTRIBUTORS INCORPORATED OF NORTH CAROLINA on October 1988. Wholesale
farm equipment and supplies. 36 |
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Operations & branches: |
At above
address, we find a warehouse and office, on lease. The Company
maintains branches located: 578 Lowell Mill Rd, Selma, NC 27576 1215 S Brightleaf Blvd, Smithfield, NC 27577 |
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SHAREHOLDERS & MANAGERS
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Shareholders : |
Barry W. PARTLO is the major shareholder. |
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Management : |
Barry W.
PARTLO is the President and CEO. He is
also the President of other local business , including: - AGRI
SUPPLY INC OF LUMBERTON - AGRI
SUPPLY COMPANY - AGRI
SUPPLY INC OF GREENVILLE - AGRI
DIRECT LLC and
others. Herb
LOZNICKA is the CFO. |
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FINANCIALS
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In United
States, privately held corporations are not required to publish any
financials. On a
direct call, nobody accepted to answer our questions. However,
sales estimate for year 2007 is in excess of USD 20 million. |
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Banks
Bank of
America
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LEGAL FILINGS
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Legal filings
& complaints : |
As of
today date, there is no legal filings pending with the District
Courts. |
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Secured debts
summary (UCC) : |
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MARKET ANALYSIS & FORECAST
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In the
State, during the year 2007: - 84% of
the corporations in same branch were developing the business on a medium risk
of late payment, - 16% on a
high risk of late payment. - 36% of
them saw sales stable versus last 3 years - 64%
declining A high
percentage of late payment may indicate that companies in this industry are
experiencing cash flow problems, that suppliers generally accept late payment
as part of doing business, or that on-time payment is not customary in this
industry. Companies
entering such markets should not expect to be paid on time. The
market appears to be slow. |
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COMPANY CREDIT HISTORY
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According to our credit analysts, during the last 6 months, 81% of trade experience indicates a regular payment. Payments of imports are currently made with an average of 15 to 20 days beyond terms. The
Company is improving its payments, but the cash is low, due to high
inventories and bad conditions of the market. The bank
and financial institutions confirmed a low account. The risk
is medium. Our
opinion: A
business connection may be conducted but we suggest you to check regularly
the way of payments. |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)