MIRA INFORM REPORT

 

 

Report Date :

26.02.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

GARANT GP

 

 

Registered Office :

375, chemin Saint-François Ouest, Saint-François (Québec)  G0R 3A0

 

 

Country :

Canada

 

 

Year of Establishment :

1985

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Manufacturer and Wholesaler of tools

 

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 :

1,000,000 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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Canada

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: CAD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Garant (Ames True Temper)

Address in the order:

375, Chemin Saint-François Quest, Saint-Francois (Quebec), GOR 3A0, Canada

Comments on data supplied:

Dear client,

Please find below the company's correct name

Legal Name:

GARANT GP

Legal Address

375, chemin Saint-François Ouest, Saint-François (Québec)  G0R 3A0, Canada

Telephone:

+1 (418) 259-77 11    

Document Number :

NA

Fax:

+1 (418) 259-25 57  

Legal Form:

Corporation for Profit

Email:

information@garant.com

Registered in:

Quebec

Website:

www.garant.com

Date Created:

1895

Manager:

Jean Gaudrault, President

Date Incorporated:

1985

Staff:

350 employees

Stock:

NA

 

 

Value:

NA

Activity:

Manufacturer and Wholesaler of tools.

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

 

BUSINESS

 

HISTORY

 

GARANT is a private company created in 1895 and based in Quebec.

PRINCIPAL ACTIVITY

 

GARANT is working as a manufacturer of tools.

The company is a subsidiary of Ames True Temper Inc

Sales are:

 

Wholesale

Brands:

 

Garant produces the following lines: Garant, Grizzly, Excavator, UltraGripMC, PracticaMC, Hound Dog, Jackson, Ames, True TemperMD, BotanicaMD, Nature ExpertMD, Total Control, Elgin, Yukon, Alpine, Nordic, Lynx, BullDog, Site Safe, Contractor and Cougar.

Clients:

 

Garant products are sold in garden centers, hardware stores, nurseries and in superstores.

Operations area:

 

National, International

The company imports from China and India

The company export to USA

Trade References:

 

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

The subject employs 350 employee(s)

PAYMENTS

 

made on a 60 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is headquartered at 375, chemin Saint-François Ouest, Saint-François (Québec)  G0R 3A0  Canada

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is a subsidiary of AMES TRUE TEMPER INC located at 465 Railroad Avenue Camp Hill, PA 17011-5611

Employees: 1,690

Turnover: USD 372,055,000

Management:

 

Jean Gaudreault, President

Julie Potvin, CFO

Jessie Fradette, Controller

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

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

CAD

2009

Turnover

85,000,000

The cash flow is

Normal

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

Rating

 

Local credit bureau gave a good 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 medium size company.

 

The subject has several years in the business.

 

Looking at the company's financials, we can see that the company is on a safe trend.

The profitability is good, the payment trend remains regular.

 

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

 

 

SUMMARY


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

GOOD

Public

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

 

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Jessie Fradette

Position

 

Controller

Comments

 

She was able to confirm us all the information included in the report.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.25

Euro

1

Rs.62.68

 

 

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%)

 

 

 

 

 

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.