MIRA INFORM REPORT

 

 

Report Date :

28.01.2011

 

IDENTIFICATION DETAILS

 

Name :

STAR SNACKS CO LLC

 

 

Registered Office :

105 Harbor Dr, Jersey City Nj 07305.

 

 

Country :

United States 

 

 

Year of Establishment :

1992

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Snack Food Manufacturing

 

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 :

USD 800,000

 

 

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)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: 100 USD = 76.82 EUR

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Star Snacks LLC

Address in the order:

105 Harbor Drive Jersey City, NJ07305

Legal Name:

STAR SNACKS CO LLC (STAR SNACKS COMPANY)

Trade Name:

STAR SNACKS COMPANY

Legal Address

105 HARBOR DR, JERSEY CITY NJ 07305.

Telephone:

+1 (201) 200-9820

ID :

0600130357

Fax:

+1 (201) 200-9827

Legal Form:

Limited Liability Company

Email:

NA

Registered in:

New Jersey

Website:

NA

Date Created:

1992

Manager:

Mendel Brachfeld, President

Date Incorporated:

NA

Staff:

330

Stock:

NA

 

 

Value:

NA

Activity:

Snack Food Manufacturing

 

 

BANKS

 

Name of the Bank

Wachovia Bank

Name of the Bank

J P Morgan Chase Bank

Name of the Bank

Bank of America

 

 

BUSINESS

 

HISTORY

 

The company was created in 1992.

PRINCIPAL ACTIVITY

 

The company engages in wholesale distribution of canned nuts and some dried fruits.

Products/Services description:

 

Pillow packers (for nut packs)

sized plastic containers filled with nuts

Cashews

Walnuts

Pecans

Sales are:

 

Wholesale

Brands:

 

Imperial Nuts, Star Snacks, Harbor View, Manhattan Nut, Harvest Bounty, Fruit and Nutty

Operations area:

 

National, International, Local

The company imports from Brazil, Columbia, India, Turkey, Bolivia, Vietnam, Africa, Argentina

The company export to worldwide

The subject employs 330 employee(s)

PAYMENTS

 

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

LOCATION

Headquarters

 

The company is headquartered at 105 Harbor Drive

Jersey City, NJ 07305-4505, USA.

Surface area:

 

250,000 sq ft

Branches:

 

The company has offices at 108 Industrial Drive, NEW JERSEY, JERSEY CITY, USA.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This company is privately held. Despite our long searches we could not identify the names of the shareholders.

Management:

 

Mendel Brachfeld, President

Rafie Miller, CFO

 

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted a representative, who refused to provide any financial data on grounds of confidentiality.

However our financial sources could provide us with the following data (estimates):

 

 

Currency

DATE

USD

2009

Turnover

109,845,343

The cash flow is

Normal

 

 

Legal Fillings

 There are 35 UCC files listed with the Secretary of State of New Jersey.

 

 

There are no legal filings listed with the District Court.

 

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 United States of America. 

 

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

 

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.

 Final Opinion

 

This company has been in business since 1992; It has a staff of 330 employees which makes it a large sized company. There were no legal filings found against the company or its legal representatives. Final results to be positive for the year 2010.

A credit line may be considered for USD 800,000

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 



APPENDIX

 

Person Interviewed

 

Female Representative

Comments

 

Refused to provide us with information due to confidentiality reasons.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.57

UK Pound

1

Rs.72.50

Euro

1

Rs.62.46

 

 

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.