MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
LOWERY MANUFACTURING, INC. |
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Registered Office : |
145 Alabama Highway 179,
Boaz, AL 35957 |
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Country : |
United States |
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Date of Incorporation : |
06.28.1988 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufacturer of Farm Equipment, Assembles and Distributes Several
Different Fertilizer Spreaders, and Other Material. |
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 |
Company name
LOWERY MANUFACTURING, INC.
Address
145 Alabama Highway 179, Boaz, AL 35957 – USA
Telephone : 256-593-8842
Fax : 256-593-5186
Website : www.lowerymanufacturing.com
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock Value: Name of manager: |
D/C 124-846 Alabama Corporation – Profit 06-28-1988 USD 1,000= Ms. J.E. LOWERY |
ACTIVITIES
& OPERATIONS
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Business Staff: |
LOWERY MANUFACTURING INC.
is doing business as L & S WHOLESALE. The Company is manufacturer of farm equipment, assembles and
distributes several different fertilizer spreaders, and other material. Sells in all the U.S. 30 |
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Operations & branches: |
At above address, we find
a manufacture, warehouse and office, owned. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
This is a family owned and managed company. |
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Management : |
Ms. J.E. LOWERY is the
President and CFO. Directors include - Forney E. LOWERY - Duvall D. LOWERY As far as we know, they
are not involved in other local business. |
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Subsidiaries & Partnership : |
None |
FINANCIALS
In United States, privately held corporations are
not required to publish any financials.
Sales estimate for year
2007 is in the range of USD 20,000,000=
The business is profitable.
Banks
Citizens Bank
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) : |
None |
MARKET
ANALYSIS & FORECAST
In the United State, during
the year 2007:
- 92% of the corporations
in same branch were developing the business on a medium risk of late payment,
- 8% on a high risk of late payment.
- 28% of them saw sales
stable versus last 3 years
- 72% 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.
COMPANY
CREDIT HISTORY
According to our credit analysts, during the last 6 months, 62% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of 20 to 30 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%)