MIRA INFORM REPORT
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Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
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Name : |
FABER'S RUG COMPANY,INC. |
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Registered Office : |
9 Central Street,Wellesley, Ma 02482 |
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Country : |
United States |
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Date of Incorporation : |
08.05.1979 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Carpet and rug-pads linings and accessories |
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 : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
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 |
Comments on the rating: A Credit line
maybe considered
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: |
Fabers Rugs Company |
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Address in the order: |
9, Central Street, Wellesley, MA 02482 |
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Legal Name: |
FABER'S RUG COMPANY,INC. |
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Trade Name: |
Faber's Rug CO |
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Legal Address |
9 CENTRAL STREET,WELLESLEY, MA 02482, USA |
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Telephone: |
+ 1 (781) 235-5996 |
Identification Number: |
042991179 |
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Fax: |
+ 1 (781) 235-6058 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
Massachusetts |
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Website: |
Date Created: |
1954 |
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Manager: |
THOMAS W. FABER President |
Date Incorporated: |
May , 08, 1979 |
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Staff: |
12 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Carpet and rug-pads linings and accessories. |
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BANKS
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Name of the Bank |
HSBC Bank |
BUSINESS
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HISTORY |
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This is a Family owned company established in Massachusetts in 1954. |
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PRINCIPAL ACTIVITY |
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Selling of rugs, pads linings, and accessories. |
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Products/Services description: |
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Carpets for Residential Carpets for Commercials Floors And the installation services. |
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Sales are: |
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Wholesale, Retail |
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Brands: |
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Bellridge Couristan Design Materials, Inc. Fibreworks Godfrey Hirst Carpets Hibernia Woolen Mills Kane Carpet Karastan Masland Merida Milliken Mohawk Nourison Prestige Mills Robertex Schumacher Stanton Unique Carpets Ltd. |
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Operations area: |
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National |
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The company imports from India |
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Trade References: |
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Despite our efforts we were unable to confirm any trade reference. |
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The subject employs 12 employee(s) |
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PAYMENTS |
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regular |
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Comments on location: |
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Single location |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The Faber family owns the company |
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Management: |
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PRESIDENT THOMAS W.
FABER TREASURER THOMAS FABER SECRETARY ROBERT M.
FABER DIRECTOR THOMAS W.
FABER DIRECTOR THOMAS FABER DIRECTOR ROBERT M. FABER |
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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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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. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
$2.5 to 5 million |
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Legal Fillings |
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There are no recent UCC** files listed with
the Secretary of State of Massachusetts. 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 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
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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 company with 12 employees,
and 56 years of operations We did not found any adverse situation
during the investigation The company evolving in a sector of
activity in medium shape. The turnover is correct for the company size Therefore we suggest a credit line for USD
30,000. |
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SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Comments |
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The person contacted confirmed address and activity. |
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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.43.95 |
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UK Pound |
1 |
Rs.72.12 |
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Euro |
1 |
Rs.63.67 |
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.