MIRA INFORM REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Name : |
AMES TRUE TEMPER, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30.01.1981 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufacture and marketing of non-powered lawn and garden products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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Litigation : |
---- |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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: |
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Address in the order: |
Head Office 465, |
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Legal Name: |
Ames True Temper, Inc. |
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Legal Address |
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Operative Address |
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Telephone: |
+ 1 (717) 737-1500 |
ID : |
0907403 |
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Fax: |
+ 1 (717) 730-2552 |
Legal Form: |
Corporation for Profit |
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Email: |
NA |
Registered in: |
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Website: |
Date Created: |
1774 |
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Manager: |
Duane R. Greenly, CEO |
Date Incorporated: |
January 30st, 1981 |
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Staff: |
1,715 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Manufacture and marketing of non-powered lawn and garden products |
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BANKS
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Name of the Bank |
Washington Mutual Bank |
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Name of the Bank |
J P Morgan Chase |
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Name of the Bank |
Wells Fargo Bank |
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Name of the Bank |
Bank Of |
BUSINESS
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HISTORY |
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This company was created in the year 1774. |
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PRINCIPAL ACTIVITY |
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Ames True Temper, Inc. engages in the manufacture and marketing of
non-powered landscaping. |
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Products/Services description: |
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Long handle tools, wheelbarrows, planters, snow tools, and striking tools,
heads comprising poly, steel or aluminum, engineered polymers, or fiberglass. |
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Brands: |
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True Temper ReelEasy Water genie Rake & go |
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Clients: |
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General clientele Various industries |
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Suppliers: |
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Razorback Dynamic design Uniontools HoundDog |
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Operations area: |
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National, International, Local |
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The company imports from Worldwide |
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The company export to |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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This company is headquartered at 465, |
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Comments on location: |
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The company is incorporated in |
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Branches: |
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There were no branches found for this company. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This company is wholly own subsidiary of Griffon corp. Phone: +1 (212) 957-5000 |
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Management: |
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The directors of the company are: Mr. Duane R. Greenly, CEO Mr. David M. Nuti, CFO Mr. Jean Gaudreault, President of Garant Mr. Thomas O'Connor, Managing Director True Temper Ltd ( Mr. Geoff Brownrigg, Vice President of Sales & Business
Development. |
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 receptionist who refused to provide us any
financial data on grounds of confidentiality. |
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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 |
75,000,000 |
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Legal Fillings |
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There are 95 UCC files listed with the Secretary
of State of Delaware. There were 12 lawsuits found against the
company, Three of them from last year: Deem v. Ames True Temper, Inc. Filed: November 29, 2010 as 6:2010cv01339
Updated: November 29, 2010 20:34:40 Plaintiff: Harry F. Deem Defendant: Ames True Temper, Inc. Cause Of Action: Civil Shell Case Opening AMES TRUE TEMPER, INC. v. SOUTHERN SALES
& MARKETING GROUP, INC. Filed: August 25, 2010 as 2:2010cv01115
Updated: August 26, 2010 21:18:23 Plaintiff: AMES TRUE TEMPER, INC. Defendant: SOUTHERN SALES & MARKETING
GROUP, INC. Presiding Judge: Lisa Pupo Lenihan Cause Of Action: Patent Infringement Patent Group, LLC v. Ames True Temper,
Inc. Filed: April 15, 2010 as 6:2010cv00154
Updated: April 16, 2010 05:37:05 Plaintiff: Patent Group, LLC Defendant: Ames True Temper, Inc. Cause Of Action: Fed. Question THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: 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
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Local credit bureau gave a low 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 company has been in business for 237
years. It has a staff of 1,690 employees which makes it a large sized
company. There were several legal filings found
against the company. There was a low profitability for the year
2010. As regards the financial information belonging from its mother company,
they showed liabilities exceeding the company's net worth. Due to the fact that both, its mother
company and subsidiary, are facing difficulties; and considering that the company has different lawsuits, We suggest working with GUARANTEES. |
SUMMARY
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Profitability |
LOW |
Public Records |
YES |
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Indebtedness |
HIGH |
Payments |
REGULAR |
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Cash |
N.A. |
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APPENDIX
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Person Interviewed |
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Receptionist |
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Comments |
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She refused to provide us with information due to confidentiality
reasons. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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1 |
Rs.73.54 |
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Euro |
1 |
Rs.62.39 |
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 |
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.