MIRA INFORM REPORT
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Report Date : |
04.06.2011 |
IDENTIFICATION DETAILS
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Name : |
FOXRICH TEXTILES INCORPORATED |
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Registered Office : |
37 Danbury Rd,
Ridgefield, Connecticut, 06877-4033 |
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Country : |
United States |
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Date of Incorporation : |
24.02.1983 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
importer and exporter of various fabrics that go into many product areas. |
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 25,000. |
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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 |
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: |
Fox Rich Textiles Inc |
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Address in the order: |
37 Danburg Road, Ridgefield C706877 |
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Legal Name: |
FOXRICH TEXTILES INCORPORATED |
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Legal Address |
37 Danbury Rd Ridgefield, Connecticut,
06877-4033 USA |
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Telephone: |
+1 (203) 438-3153 |
ID : |
824313 |
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Fax: |
+1 (203) 438-3803 |
Legal Form: |
Corporation for Profit |
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Email: |
info@fox-rich.com |
Registered in: |
New York |
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Website: |
http://www.fox-rich.com |
Date Created: |
NA |
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Manager: |
Jim Reich, Owner |
Date Incorporated: |
February, 24th. 1983 |
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Staff: |
7 |
Stock: |
200 |
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Value: |
No par value |
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Activity: |
Fox-Rich Textiles, is a
converter, importer and exporter of various fabrics that go into many product
areas. |
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BANKS
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Name of the Bank |
JPMORGAN CHASE BANK, NA |
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Name of the Bank |
FIRST FIDELITY BANK |
BUSINESS
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PRINCIPAL ACTIVITY |
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Fox-Rich Textiles, is a
converter, importer and exporter of various fabrics that go into many product
areas. |
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Products/Services description: |
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The company is engaged in
providing: -Organic fabrics -Theatrical fabrics -Airplane cloth |
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Sales are: |
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Wholesale |
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Brands: |
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Ab-Scent Havoc |
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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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Local |
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The company does not
export |
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The subject employs 7
employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is
headquartered at the address listed above. |
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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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This is a private company,
in which Mr. Jim Reich is the main shareholder. |
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Management: |
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Jim Reich, Owner |
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 Ms. Donna,
from the accounting department, who refused to provide us any financial
data without knowing the name of the inquiring party. |
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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 |
1,600,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are 3 UCC** files listed with
the Secretary of State of Connecticut. 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 records on
financial obligations (including IRS liens) incurred by individuals (in
business as a sole proprietor), business entities and corporations. |
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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 sized American company which employs 7 people and has
been incorporated for 28 years. There were no legal filings found against the company or its legal
representatives. The income per employee remains pretty fair for the company's size. A credit line may be considered for USD 25,000. |
SUMMARY
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Ms. Donna |
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Position |
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Accounting department |
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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.44.85 |
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UK Pound |
1 |
Rs.73.29 |
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Euro |
1 |
Rs.64.89 |
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.