MIRA INFORM
REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
CAROLINAS COTTON GROWERS COOPERATIVE INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
08.02.1922 |
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Legal Form : |
Cooperative |
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Line of Business : |
Cooperative Marketing Association |
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 1.000.000 |
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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: |
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Address in the order: |
101, |
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Legal Name: |
CAROLINAS COTTON GROWERS COOPERATIVE INC |
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Legal Address |
101 SIGMA DRIVE GARNER NC 27529 |
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Telephone: |
(919) 773-2120 |
ID : |
0022200 |
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Fax: |
(919) 773-4495 |
Legal Form: |
Cooperative |
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Email: |
Registered in: |
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Website: |
Date Created: |
1922 |
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Manager: |
J. Michael Quinn, President |
Date Incorporated: |
February 8th 1922 |
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Staff: |
23 |
Stock: |
50.000 |
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Value: |
No par value |
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Activity: |
Cooperative marketing association |
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BANKS
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Name of the Bank |
WACHOVIA BANK |
BUSINESS
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HISTORY |
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Carolinas Cotton Growers Cooperative, Inc. (the Cooperative) is a
cooperative marketing association formed in 1922. |
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PRINCIPAL ACTIVITY |
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The Cooperative is domiciled in NC, SC, VA and GA and is governed by a
twelve member board, each board member being an active member-producer
representing a geographic district within those four states. The Cooperative’s corporate headquarters is located at The Cooperative owns two wholly owned subsidiaries, Cotton Growers
Warehouses, Inc. (CGW) formed in 1934 and Southeast Futures Management, Inc.
(SFM) formed in 2004. CGW is engaged in cotton storage and shares the
Cooperative’s corporate headquarters in Garner, NC. CGW owns three cotton
warehouse facilities located in |
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PAYMENTS |
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made on a 50 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The Cooperative’s corporate
headquarters is located at |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The Cooperative is governed by 12 producers from |
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Management: |
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President - J. Michael Quinn Vice President Finance - Matthew C. Williams Vice President Operations - Donald A. Robinson Vice President Marketing - Keith T. Lucas Vice President Brokerage - L. Wayne Boseman Administrative Assistant - Lori Talarico Finance - Benita Eubanks | Michele Santarsiero Marketing - Cathy Kramer | Sharon Tucker Shipping - John Griffin | Sharon Smith | AJ Jones Export Logistics/Information Services - Sheila Curl DIRECTORS Lance V. Everett Douglas Boyd Randy Hyman Edgar Edens Fenton Towe Eure, Jr. (Chairman) Tommy Flythe W. Ken Page Rick H. Morgan Glenn Sperling Kent Smith Jack Horton, Jr. Dale W. Player (Vice Chairman) W. Player (Vice Chairman) |
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 finance department 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
(estimates): |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
182,873,346 |
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The cash flow is |
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Legal Fillings |
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There are 25 UCC** files listed with the
Secretary of State of North Carolina. There are no legal filings listed with the
District Court. PC, PLLC, LP and Non-Profit entities are
not required to file annual reports 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 small A credit line may be considered for USD 1.000.000 |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.16 |
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1 |
Rs.70.64 |
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Euro |
1 |
Rs.58.68 |
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.