MIRA INFORM REPORT
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Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MEGERIAN RUG GALLERY LTD |
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Registered Office : |
262 5th Avenue Front, New York, NY 10001-6414 |
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Country : |
United States |
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Date of Incorporation : |
21.10.1988 |
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Legal Form : |
Limited Company |
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Line of Business : |
Rugs Manufacturer |
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 50,000. |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Megerian Rug Gallery Ltd |
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Address in the order: |
262 Fifth Avenue NY 10001 |
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Legal Name: |
Megerian Rug Gallery Ltd |
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Legal Address |
262 5th Avenue Front New York, NY 10001-6414 USA |
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Telephone: |
(212) 684 7847 |
ID : |
1300831 |
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Fax: |
(212) 684 8018 |
Legal Form: |
Limited Company |
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Email: |
Registered in: |
New York |
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Website: |
Date Created: |
NA |
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Manager: |
Harry Megerian, president |
Date Incorporated: |
October, 21st. 1988 |
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Staff: |
10 |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Rugs manufacturer |
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BANKS
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Name of the Bank |
MARATHON NATIONAL BANK OF NEW YORK |
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Name of the Bank |
MILLENNIUM BCPBANK, N.A. |
BUSINESS
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HISTORY |
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The company was incorporated for business in 1988 |
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PRINCIPAL ACTIVITY |
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Rugs manufacturer |
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Products/Services description: |
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The company is engaged in manufacturing and providing different types
of rugs |
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Sales are: |
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Wholesale |
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Clients: |
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Rug stores, supermarkets, professionals of the industry |
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Suppliers: |
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The person contacted refused to provide the name of the suppliers for
us to check trade references |
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Operations area: |
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National, Local |
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The company imports from Egypt, etc. |
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The company does not export |
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The subject employs 10 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at the address listed above. |
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Branches: |
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The company reports no branch locations |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a private company, in which the Megerian family is the main
shareholder. |
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Management: |
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Harry Megerian, President |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial statements. |
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We have contacted the operator, who refused to provide us any
financial data without knowing the name of the inquiring party. |
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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. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
3,500,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of New York. 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 United States citizens and permanent residents are prohibited from doing
business. ** 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 United States of America. 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
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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. |
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Final Opinion |
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This is a small sized American company
which employs 10 persons and has been incorporated for business since 1988. It is a family owned business. There were
no legal filings found against the company or its legal representative. The income per employee is right for the
company's size. The company is established. It is a limited company, which means that
no action could succeed against the owner's personal assets. A credit line may be considered for USD
50,000.- |
SUMMARY
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Profitability |
CORRECT |
Public
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NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Position |
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Operator |
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Comments |
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The person contacted refused to provide us any information on grounds
of confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.45 |
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UK Pound |
1 |
Rs.73.35 |
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Euro |
1 |
Rs.64.78 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.