MIRA INFORM REPORT
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Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MODERN AG PRODUCTS LTD |
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Registered Office : |
1655 Louisiana ST, Beaumont, TX 77701-1120 |
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Country : |
United States |
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Date of Incorporation : |
19.01.2005 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures equipment
for oilfield and offshore use, as well as marine industries. |
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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 – 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 |
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: |
Modern AG Products |
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Address in the order: |
1655 Louisiana Street, Beaumont, TX 77701 |
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Legal Name: |
Modern Ag Products Ltd |
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Legal Address |
1655 Louisiana ST Beaumont, TX 77701-1120 |
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Mailing Address |
P.O. Box 790, Beaumont, Texas
77704, USA. |
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Telephone: |
+1 (409) 833-2665 |
ID : |
0800442248 |
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Fax: |
+1 (409) 833-3170 |
Legal Form: |
Limited Company |
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Email: |
Registered in: |
Texas |
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Website: |
Date Created: |
NA |
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Manager: |
Will Crenshaw, President |
Date Incorporated: |
January 19th., 2005 |
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Staff: |
280 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Manufactures equipment
for oilfield and offshore use, as well as marine industries. |
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BANKS
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Name of the Bank |
WELLS FARGO BANK, NA |
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Name of the Bank |
THE FROST NATIONAL BANK |
BUSINESS
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PRINCIPAL ACTIVITY |
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Manufactures equipment
for oilfield and offshore use, as well as marine industries. |
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Products/Services description: |
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The company engages in
the manufacture of equipment for oilfield and offshore use, as well as marine
industries. |
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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, Local |
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The subject employs
280 employee(s) |
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LOCATION |
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Headquarters |
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The company is
headquartered at 1655 Louisiana Street, Beaumont, TX 77701, USA. |
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Branches: |
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The company has no branch
locations. |
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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The company is privately
held. It operates as a subsidiary of The Modern Group Ltd. The Modern Group Ltd. 1655 Louisiana Street, Beaumont, TX 77701, USA. Tel: 409-833-2665 Fax: 409-833-3170 www.modernusa.com |
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Management: |
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Will Crenshaw, President Joe Adams, Parts Chuck Pharo, Sales Enand Young, Credit |
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 the operator of the company, who refused to
provide us any financial data without knowing the name of the inquiring
party. |
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Legal Fillings |
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There are 4 UCC** files listed
with the Secretary of State of Texas. 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
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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 medium sized US company, with 280 employees. It has been incorporated
for business for 6 years. It operates as a subsidiary of The Modern Group
Ltd. There were no legal filings found against the company or its legal
representatives. As we could not obtain any financial figure for the year 2010, we
strongly recommend 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 |
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Comments |
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The person contacted
refused to provide us any information on grounds of confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.03 |
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UK Pound |
1 |
Rs.74.43 |
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Euro |
1 |
Rs.64.75 |
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.