MIRA INFORM REPORT
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Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
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Name : |
INDIAN SUMMER CARPET MILLS, INC. |
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Registered Office : |
P O Box 3577, Dalton Ga 30719 |
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Country : |
United States |
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Date of Incorporation : |
31.10.1994 |
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Com. Reg. No.: |
K426888 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufacturer of polypropylene, solution dyed nylon and solution dyed polyester product |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 300,000. |
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Status : |
Satisfactory |
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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 |
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: |
Indian Summer Carpet Mills Inc Cherokee Carpet Ind |
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Address in the order: |
601 Callahan Rd 30721, Dalton |
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Legal Name: |
INDIAN SUMMER CARPET MILLS, INC. |
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Trade Name: |
Cherokee Carpet Industries |
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Legal Address |
PO BOX 3577 DALTON GA 30719 |
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Operative Address |
601 Callahan Road P.O. Box 3577 Dalton, Georgia 30719 |
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Telephone: |
706.277.6277 |
Registration Number : |
K426888 |
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Fax: |
706.279.1884 |
Legal Form: |
Corporation for Profit |
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Email: |
info@cherokeecarpet.com |
Registered in: |
Georgia |
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Website: |
www.southwindcarpet.com |
Date Created: |
1994 |
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Manager: |
ANN EATON - CEO |
Date Incorporated: |
October 31, 1994 |
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Staff: |
350 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Manufacturer of polypropylene, solution dyed nylon and solution dyed
polyester products |
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BANKS
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Name of the Bank |
THE PRIVATEBANK AND TRUST COMPANY |
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Location |
120 S LA SALLE ST CHICAGO
IL 60603 |
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Name of the Bank |
WELLS FARGO BANK |
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Name of the Bank |
BANK OF AMERICA |
BUSINESS
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HISTORY |
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The company was created in 1994. |
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PRINCIPAL ACTIVITY |
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It operates as a manufacturer of broadloom carpets. It manufactures polypropylene, solution dyed nylon and solution dyed
polyester products. |
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Products/Services description: |
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Residential and light commercial carpets Hospitality and Commercial carpets |
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Sales are: |
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Wholesale, Retail |
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Brands: |
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Southwind Northstar |
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The subject employs 350 employee(s) |
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LOCATION |
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Headquarters |
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601 Callahan Road P.O. Box 3577 Dalton, Georgia 30719 |
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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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Despite our long searches it has not been possible to identify the
shareholders. The person contacted at the company refused to provide that
information on grounds of confidentiality. |
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Management: |
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ANN EATON - CEO JAMES L. ORR - CFO CAROLYN ELLIS - Secretary |
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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 |
22,600,000 |
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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of Georgia. There are no legal filings listed with the
District Court. The last annual report was filed on
2/7/2011. 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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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 subject has 17 years experience in the
business. It is a medium size company. No adverse record has been found. A credit line may be considered for USD
300,000. |
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SUMMARY
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Profitability |
N.A. |
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 refused to provide any information on grounds of
confidentiality. |
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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.44.89 |
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UK Pound |
1 |
Rs.73.85 |
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Euro |
1 |
Rs.64.76 |
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.