MIRA INFORM REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Name : |
MACYS MERCHANDISING GROUP INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22.10.2004 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Retailer of Miscellaneous |
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 390,000 |
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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 – 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: |
Macys Merchandising Group |
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Address in the order: |
11 Penn Plaza, 9th Floor, |
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Legal Name: |
MACYS MERCHANDISING GROUP INC. |
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Legal Address |
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Operative Address |
11 PENN PLAZA, |
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Telephone: |
+1 (646) 429-6000 |
ID : |
3870156 |
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Fax: |
+1 (212) 494-6824 |
Legal Form: |
Corporation for Profit |
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Email: |
NA |
Registered in: |
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Website: |
Date Created: |
NA |
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Manager: |
Janet Grove, Chief Executive Officer |
Date Incorporated: |
October 22th, 2004 |
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Staff: |
494 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Retailer of Miscellaneous |
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BANKS
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Name of the Bank |
CHASE BANK |
BUSINESS
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HISTORY |
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This company was incorporated in the year 2004. |
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PRINCIPAL ACTIVITY |
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The subject company provides merchandising services and apparel. |
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Products/Services description: |
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Shoes Jewelry Handbag Furniture Luggage |
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Sales are: |
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Retail |
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Brands: |
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Polo/Ralph Lauren Kenneth Cole, DKNY Jones Liz Claiborne |
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Clients: |
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General clientele |
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Suppliers: |
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Nine West Tommy Hilfiger Estee Lauder Ralph Lauren DKNY |
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Operations area: |
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National, Local |
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The company imports from |
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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 11 PENN PLAZA, |
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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 a wholly owned subsidiary of Macy's: Phone: 513-579-7000 Fax: 513-579-7555 Web Site: www.macysinc.com |
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Management: |
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Janet Grove, Chief Executive Officer Leonard Marcus, COO |
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 a female 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
(estimates): |
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Currency |
DATE |
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USD |
2010(Consolidated from mother company) |
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Turnover |
23,489,000 |
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Operating Income |
1,063,000 |
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Net Income |
350,000 |
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Current Assets |
6,882,000
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Fixed Assets |
280,000 |
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Net worth |
4,701,000
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Liabilities |
16,599,000
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Currency |
DATE |
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USD |
2008 |
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Turnover |
89,500,000 |
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Operating Income |
3,200,000 |
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Net Income |
2,700,000 |
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Current Assets |
34,000,000 |
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Fixed Assets |
9,000,000 |
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Net worth |
6,000,000 |
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Bank liabilities |
8,000,000 |
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The cash flow is |
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Legal Fillings |
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There
is 18 UCC file listed with the Secretary of State of Delaware. 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
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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 medium sized company, that has
been in business for 7 years. there were no legal filings found against the
company or its legal representatives. All the financial figures belong to its
mother company "Macy's Inc", To fully secure the credit line
granted, we suggest calling the parent company as a guarantor. A credit line may be considered for USD
390,000 |
SUMMARY
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Profitability |
GOOD |
Public
Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Female Receptionist |
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Comments |
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She refused to provide us with financial information without knowing
the exact name of the inquiring party. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.50 |
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1 |
Rs.73.07 |
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Euro |
1 |
Rs.61.63 |
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.