MIRA INFORM
REPORT
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Report Date : |
15.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MINNESOTA FLEX CORP |
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Registered Office : |
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Country : |
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Date of Incorporation : |
15.01.1969 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Hose Assemblies Manufacturers |
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 : |
Unknown |
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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: |
Minnesota Flex Corp |
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Address in the order: |
803, |
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Legal Name: |
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Trade Name: |
MFC |
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Legal Address |
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Telephone: |
(651) 645-7522 |
ID : |
1Q-893 |
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Fax: |
(651) 645-8259 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1969 |
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Manager: |
Mr. Will Stewart, President |
Date Incorporated: |
January, 15th. 1969 |
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Staff: |
48 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Hose Assemblies manufacturers |
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BANKS
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Name of the Bank |
ALLIANCE BANK |
BUSINESS
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HISTORY |
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The company was created in 1969 |
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PRINCIPAL ACTIVITY |
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Hose assemblies manufacturers |
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Products/Services description: |
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The company offers these products: - Rubber hose - Composite hose - Flexible duct - Bonded Hose - Formed Tubes - Plastisol - Plastic and metal fittings and adapters - Metal hose - Teflox hose - Hydraulic hose (Among others) |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry |
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Suppliers: |
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The person contacted refused to provide the name of the suppliers for
us to check trade references. |
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Operations area: |
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National |
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The subject employs 48 employee(s) |
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LOCATION |
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Headquarters |
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The company is headquartered at: |
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Branches: |
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Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a private company. Despite our long searches we could not identify
the name of the shareholders |
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Management: |
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Will Stewart, President |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not
publish any financial statements. We contacted the company and they refused
to provide any financial information without the name of the inquiring party. |
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Legal Fillings |
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There are 2 UCC** files listed with the
Secretary of State of Minnesota. There are no legal filings listed with the
District Court. The last annual report was filed on 2010. 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 American company which employs 48 persons and has 41
years of experience in the market. We don't have any payments experience, nor do we have any financial
data. Therefore, we suggest working with guarantees. |
SUMMARY
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Profitability |
N.A. |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
N.A. |
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Cash |
N.A. |
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APPENDIX
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Position |
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Operator of the company |
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Comments |
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The person contacted refused to provide us with any information on
grounds of confidentiality. We were able to reach Mrs. Jerry Cully's voicemail (she belongs to the
accounting department) and left her a message asking her to call us back in
order to get further information, but we haven't received any answer yet. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.30 |
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1 |
Rs.71.73 |
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Euro |
1 |
Rs.60.40 |
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.