MIRA INFORM REPORT
|
Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
HARRIS&FORD LLC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01.01.1994 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Chemicals and related products supplier |
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 150,000. |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
GEOPOLITICS - UNITED STATES
|
POLITICAL DATA |
ECONOMIC DATA |
|
Form of Government: Federal
|
Currency: USD |
IDENTIFICATION
|
Ordered as: |
Harris & Ford LLC |
||
|
Address in the order: |
|
||
|
|
|
||
|
Legal Name: |
Harris&Ford LLC |
||
|
|
|
||
|
Legal Address |
|
||
|
|
|
||
|
Telephone: |
(317) 591-0000 |
ID : |
1994010669 |
|
Fax: |
(317) 541-4700 |
Legal Form: |
Limited Liability Company |
|
Email: |
Registered in: |
|
|
|
Website: |
Date Created: |
1994 |
|
|
Manager: |
Tim Harris, Chief Executive Officer |
Date Incorporated: |
January, 1st. 1994 |
|
Staff: |
37 |
Stock: |
NA |
|
|
|
Value: |
NA |
|
Activity: |
Chemicals and related products supplier |
||
BANKS
|
Name of the Bank |
WELLS FARGO BANK, N.A. |
BUSINESS
|
HISTORY |
|
|
|
The company was created in 1994 |
|
PRINCIPAL ACTIVITY |
|
|
|
Chemicals and related products supplier |
|
Products/Services description: |
|
|
|
The company is engaged in providing: Adhesives, Biocides & Starch
Preservatives, Printing Plate Cleaner, Soy Polymers, Dehydrated Vegetables,
Emulsifier, Food Additives, Conditioners And Emollients, Fatty Acids, Methyl Esters,
Preservatives, Aromatic And Aliphatic Amines, Inorganics, Filter Aid And
Coatings, Potable Water Additives, Water Clarification, Etc. |
|
Sales are: |
|
|
|
Wholesale |
|
Clients: |
|
|
|
Food, cosmetic, pharmaceutical, water and industrial customers |
|
Suppliers: |
|
|
|
The person contacted refused to provide the name of the suppliers for
us to check trade references |
|
Operations area: |
|
|
|
National, International |
|
The company imports from |
|
|
The company export to worldwide, depending on the demand |
|
|
The subject employs 37 employee(s) |
|
|
PAYMENTS |
|
|
|
made on a 30 days basis - monitored over the last 12 months |
|
LOCATION |
|
|
Headquarters |
|
|
|
The company is headquartered at the address listed above. |
|
Surface area: |
|
|
|
|
|
Branches: |
|
|
|
The company reports no branch locations |
Shareholders - Manager - Related Companies
|
Listed at the stock exchange: |
|
|
|
NO |
|
Shareholders Parent Company(ies): |
|
|
|
This is a private company. Timothy M Harris and Joseph E Ford are the
main shareholders. |
|
Management: |
|
|
|
Tim Harris - CEO Nathan Warfel - Controller |
Financials - COMMERCIAL TRENDS AND FORECAST
|
As a private company the subject does not publish any financial
statements. |
|
We have contacted Mr. Nathan Warfel, Controller, who refused to
provide us any financial data without knowing the name of the inquiring
party. |
|
However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
|
Currency |
DATE |
|
USD |
2009 |
|
Turnover |
8,300,000 |
|
The cash flow is |
|
|
Legal Fillings |
|
There are 8 UCC** files listed with the
Secretary of State of Indiana. There are no legal filings listed with the
District Court. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
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. |
|
|
Final Opinion |
|
|
|
This is a small sized American company which
employs 37 persons and has 16 years of experience in the market. There were no legal filings found against
the company or its legal representatives. The income per employee remains pretty
fair for the company's size. Because of the company’s legal form,
limited liability company, no action could succeed against the owner’s
personal assets. A credit line may be considered for USD
150,000. |
SUMMARY
|
|
|
||
|
Profitability |
CORRECT |
Public Records |
NO |
|
Indebtedness |
N.A. |
Payments |
REGULAR |
|
Cash |
|
|
|
APPENDIX
|
Person Interviewed |
|
|
|
Mr. Nathan Warfel |
|
Position |
|
|
|
Controller |
|
Comments |
|
|
|
The person contacted provided us with the following information: Management, main shareholders, staff, creation date, bank, imports,
exports, payments to suppliers, branch locations. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.