MIRA INFORM REPORT

 

 

Report Date :           

28.04.2011

 

IDENTIFICATION DETAILS

 

Name :

LEGGETT & PLATT INCORPORATED 

 

 

Registered Office :

1 Leggett Road, Carthage, Missouri 64836

 

 

Country :

United States 

 

 

Date of Incorporation :

23.02.1901

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Manufacturer of engineered components

 

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 :

1,500,000 USD

Status :

Satisfactory

Payment Behaviour :

Regular

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)

United States 

a2

a2

 

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


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Legget & Platt

Address in the order:

Edison Bonded 521 Sunfield Avenue Paritan Center, Edison NJ 08837

Comments on data supplied:

Dear client,

 

The location you provided is a non incorporated business unit of the company's LEGGETT & PLATT INCORPORATED located in 1 Leggett Road, Carthage, Missouri 64836

Legal Name:

LEGGETT & PLATT INCORPORATED

Legal Address

1 Leggett Road, Carthage, Missouri 64836, USA

Telephone:

+1 (417)-358-8 131

Document Number :

00012304

Fax:

+1 (417)-358-58 40

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

Missouri

Website:

www.leggett.com

Date Created:

1883

Manager:

Richard Fisher, Chairman

Date Incorporated:

February 23rd, 1901

Staff:

19,000 employees

Stock:

NA

 

 

Value:

NA

Activity:

Manufacturer of engineered components

 

 

BANKS

 

Name of the Bank

JPMORGAN CHASE BANK

 

 

BUSINESS

 

HISTORY

 

Leggett & Platt, Incorporated was formed in 1883 by J.P. Leggett and C.B. Platt.

 

They were both resident in Missouri.

 

Together they produced the L&P bedspring, patented in 1885, which offered the best night's sleep yet available.

 

The company has operated continuously since then, and began its fifth decade of public ownership in 2007.

PRINCIPAL ACTIVITY

 

Leggett & Platt is a diversified manufacturer that conceives designs and produces a broad variety of engineered components and products for customers worldwide.

Products/Services description:

 

The company manufactures the following products group:

- Bedding Components 

- Home Furniture Components

- Non-Fashion Construction Fabrics 

- Ornamental Beds 

- Steel Bedding Support 

- Adjustable Beds 

- Carpet Cushion

Sales are:

 

Wholesale

Clients:

 

Industrial Companies

Operations area:

 

National, International

The company imports from Worldwide

The company exports to Worldwide

Trade References:

 

Despite our searches we were not able to find the company's trade references.

The subject employs 19,000 employee(s)

PAYMENTS

 

made on a 55 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is headquartered at the above address

Branches:

 

The company has several branches around the US

 

- Manufacturing Facility:

521 Sunfield Avenue Paritan Center, Edison NJ 08837

 

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

YES

Shareholders Parent Company(ies):

 

Richard Fisher, is the one of the company's shareholders

Management:

 

Richard Fisher, Chairman 

Karl Glassman, Director

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

The subject is a public company traded at NYSE the stock exchange under the symbol "LEG".

 

Currency

DATE

USD

2010

Turnover

3,359,100,000

Net Income

176,600,000

Net worth

1,524,400,000

Liabilities

2,478,000,000

The cash flow is

Normal

 

Legal Fillings

There are no UCC** files listed with the Secretary of State of Missouri.

 

1.Filing Number:  20110019046F

Filing Date:  02-23-2011

Filing Jurisdiction:  MISSOURI

Filing Location:  SECRETARY OF STATE/UCC DIVISION

   600 W MAIN ST RM302

JEFFERSON CITY  MO   65101

Filing History:  Filing Type Filing Date

INITIAL FILING 02-23-2011

 

Secured Party:  JPMORGAN CHASE BANK, N.A.

Secured Party Address:  2200 ROSS AVE FL 3RD

DALLAS  TX   75201- 2744

 

Debtor:  LEGGETT & PLATT, INCORPORATED

Debtor Address:  1 LEGGETT RD

CARTHAGE  MO   64836- 9649

 

2. Filing Number:  107236240954

Filing Date:  06-25-2010

Filing Jurisdiction:  CALIFORNIA

Filing History:  Filing Type Filing Date

 

Secured Party:  LEGGETT & PLATT, INCORPORATED

Secured Party Address:  1 LEGGETT RD

CARTHAGE  MO   64836- 9649

 

Debtor:  ANTAKY QUILTING CO.

Debtor Address:  1849 E 50TH ST

LOS ANGELES  CA   90058- 1940

 

Collateral Description:  06/25/2010 

 

3.Filing Number:  107231789614

Filing Date:  05-14-2010

Filing Jurisdiction:  CALIFORNIA

Filing History:  Filing Type Filing Date

  

Secured Party:  LEGGETT & PLATT, INCORPORATED

Secured Party Address:  1 LEGGETT RD

CARTHAGE  MO   64836- 9649

 

Debtor:  E.S. KLUFT & COMPANY, LLC

Debtor Address:  11096 JERSEY BLVD STE 101

RCH CUCAMONGA  CA   91730- 5103

  

There are various claims, lawsuits, and pending actions against the Company and its subsidiaries incident to the operations of its businesses. It is the opinion of management, after consultation with counsel, that the ultimate resolution of such claims, lawsuits and pending actions will not have a material adverse effect on the Company's consolidated financial position, results of operations or liquidity.

 

The last annual report was filed on February 1st, 2011.

 

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

 

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 large size company with several years in the business.

 

The looking at the company’s financials in 2010, we can see that the company is in a good shape.

 

Indeed, the company profitability is correct and the length of payment is regular.

 

At this time, we believe that the company can bear a credit line in the range of 1,500,000 USD

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

YES

 

Indebtedness

MEDIUM

Payments

REGULAR

 

Cash

NORMAL

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.40

UK Pound

1

Rs.73.26

Euro

1

Rs.65.17

 

 

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

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.