MIRA INFORM REPORT

 

 

Report Date :           

05.07.2011

 

IDENTIFICATION DETAILS

 

Name :

ORIOLE TEXTILE CO. INC.

 

 

Registered Office :

270 West 39th Street New York N.Y. 10018

 

 

Country :

United States 

 

 

Date of Incorporation :

09.02.1954

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Fabrics Distribution

 

 

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 90,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 




GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Oriole Textiles Co Inc

Address in the order:

270 West 39th Street New York N.Y. 10018

 

 

Legal Name:

ORIOLE TEXTILE CO. INC.

 

 

Legal Address

270 West 39th Street New York N.Y. 10018, USA

 

 

Telephone:

(212) 869-4582

ID :

93490

Fax:

(212) 764-5128

Legal Form:

Corporation for Profit

Email:

abric@orioletex.com

Registered in:

New York

Website:

http://www.orioletex.com/

Date Created:

1929

Manager:

Mark Siegel, President

Date Incorporated:

FEBRUARY 09, 1954

Staff:

10

Stock:

200

 

 

Value:

No Par Value

Activity:

Fabrics distribution

 

 

BUSINESS

 

HISTORY

 

The company was created in 1929

PRINCIPAL ACTIVITY

 

Fabris distribution

Products/Services description:

 

The company specializes in Bridal, Formal & Party Fabrics.

Sales are:

 

Wholesale

Clients:

 

Counter Fabric Stores, Bridesmaid Manufacturers, Bridal Shops, etc.

The subject employs 10 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

Oriole Textile Company - 270 W. 39th St. - New York, NY 10018, USA.

Comments on location:

 

Headquarters and operative location

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a private company. The main shareholder is Mark Siegel.

Management:

 

Mark Siegel, President



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted the company, who refused to provide us any financial data without knowing the name of the inquiring party.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

USD

2010

Turnover

5,179,321

The cash flow is

NORMAL

 

 

Legal Fillings

 There are 4 UCC** files listed with the Secretary of State of New York.

 

 

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 United States citizens and permanent residents are prohibited from doing business.

 

 

** 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 is a small sized American company, which employs 10 people and has 81 years of experience in the market.

 

This is a very well established structure, always a family business.

 

A credit line may be considered for USD 90,000

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Comments

 

We have contacted the company, who refused to provide us any financial data without knowing the name of the inquiring party.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.46

UK Pound

1

Rs.71.53

Euro

1

Rs.64.63

 

 

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

----

NB

New Business

----

 

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.