MIRA INFORM
REPORT
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Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
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Name : |
TRANSNATIONAL FOODS INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
19.03.2002 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Food Distributor |
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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Maximum Credit Limit : |
USD 30,000 |
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Status : |
Small Company |
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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: 100.00 USD = 66.96 EUR |
IDENTIFICATION
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Ordered as: |
Transnational Foods Inc |
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Address in the order: |
1110, Brickell Are ( |
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Legal Name: |
TRANSNATIONAL FOODS INC |
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Legal Address |
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Telephone: |
+1 (305) 365-9652 |
ID : |
P02000030159 |
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Fax: |
+1 (305) 503-6780 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
2002 |
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Manager: |
Marcelo Young, President and CEO |
Date Incorporated: |
March 19, 2002 |
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Staff: |
16 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Food distributor. |
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BANKS
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Name of the Bank |
TOTALBANK |
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Name of the Bank |
WACHOVIA BANK |
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Name of the Bank |
OCEAN BANK |
BUSINESS
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HISTORY |
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Transnational Foods, Inc. was founded in 2002 and is based in |
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PRINCIPAL ACTIVITY |
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Transnational Foods, Inc. distributes food products and beverages in
the |
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Products/Services description: |
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It offers olives, oils, extra virgin oils and blends, canned meat,
peanut butter, frostings, chocolate drinking mix, coffee singles, teas,
pasta, tomatoes, canned and packed pickles and vegetables, bouillion cubes,
condiments and ingredients, breakfast cereals, cereal and granola bars, apple
juice, soy milk and beverages, and frozen products, as well as preserves,
jams, jellies, and marmalades. The company also provides sourcing, import, export, private labeling,
and tradeshow participation and exhibition services. |
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Sales are: |
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Wholesale |
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Suppliers: |
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Agro Aceitunera |
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Operations area: |
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National, Local |
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The company imports from South America, Asia and Middle East,
countries include: |
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The company export to Worldwide |
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The subject employs 18 employee(s) |
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PAYMENTS |
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made on a 55 days basis - monitored over the last 12 months |
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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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The company has an additional office location in Transnational Foods Av. Las Heras 3702 - 3ş “B” - (1425) Capital Federal - Tel/Fax: (54 11) 4804-3619 / (54 11) 4806-5928 It offers products through supermarket chains, grocery wholesalers,
food service operators, food manufacturers, and specialty food distributors. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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Marcelo Young is the main shareholder of Transnational Foods Inc. |
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Management: |
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Marcelo Young, President Francisco Young, Treasurer, Americo Preneste, Director. |
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Related Companies: |
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Marcelo Young is also involved in the following companies. FUNDACION MANOS DEL SUR, INC |
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 representative, who refused to provide
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 |
2,900,000 |
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Operating Income |
410,000 |
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Net Income |
340,000 |
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Net worth |
640,000 |
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Bank liabilities |
180,000 |
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The cash flow is |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
2,400,000 |
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Operating Income |
340,000 |
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Net Income |
260,000 |
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Net worth |
500,000 |
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Bank liabilities |
230,000 |
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The cash flow is |
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Legal Fillings |
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There are 9 UCC files listed with the
Secretary of State of Florida. Filing Number: 201002998040 Filing Date: 08-05-2010 Filing Jurisdiction: Secured Party: SUNTRUST BANK Secured Party Address: Debtor: TRANSNATIONAL
FOODS, INC. Filing Number: 201002929502 Filing Date: 07-26-2010 Filing Jurisdiction: Secured Party: SUN TRUST BANK Secured Party Address: Debtor: TRANSNATIONAL
FOODS, INC. There are no legal filings listed with the
District Court. The last annual report was filed on
04/08/2010. 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 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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The company has nine years of experience in
the business. It's a small size company with 16 employees. There were no
legal filings against the company or its legal representatives. As there were
no current financial information found for the past year, a credit line may
be considered for USD 30,000 |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
N.A. |
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APPENDIX
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Person Interviewed |
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Representative |
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Comments |
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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.45.58 |
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1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.01 |
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.