MIRA INFORM REPORT
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Report Date : |
07.06.2011 |
IDENTIFICATION DETAILS
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Name : |
BILCO TOOLS INC |
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Registered Office : |
107 Clenndenning Pob 9064, Houma, La 70363 |
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Country : |
United States |
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Date of Incorporation : |
08.02.1978 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Energy Equipment and Services |
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 275,000 |
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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: |
Bilco Tools |
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Address in the order: |
P O Box 9064, 107 Clendenning Road, Houma, LA 70361-9064 |
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Legal Name: |
BILCO TOOLS INC |
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Legal Address |
107 CLENNDENNING POB 9064, HOUMA, LA 70363, USA |
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Mailing Address |
PO BOX 9064, HOUMA, LA 70361, USA |
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Telephone: |
(985) 851-2240 / (800) 222-1873 |
ID : |
32116820 D |
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Fax: |
(985) 872-6970 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
Louisiana |
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Website: |
Date Created: |
1978 |
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Manager: |
William E. Coyle Jr., President |
Date Incorporated: |
February 8, 1978 |
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Staff: |
143 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Energy Equipment and Services |
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BANKS
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Name of the Bank |
SOUTH LOUISIANA BANK |
BUSINESS
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HISTORY |
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The company was established in 1978. |
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PRINCIPAL ACTIVITY |
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The company manufactures make-up and handling equipment for the oil
industry. |
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Products/Services description: |
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It offers well bore clean-out tools, including casing scrapers, riser
brush tools, combination tools, riser jet tools, by-pass jet tools, wellhead
jet tools, magnet tools, riser waste retriever tools, multi-use waste
retriever tools, circulating tools, swivel tools, and flow check tools. It
also provides hydraulic power tubing tongs, such as nylon belt gripping,
hydraulic friction grip, dual friction grip, neutrally balanced tong, soft
touch tong, and wedge back-up systems, as well as coupling bucking services;
and slips and elevators, deepwater precision slips and elevators, dual
automatic spider-elevators, deepwater dual tools, triple tools, and deepwater
sliding spiders. In addition, the company offers pipe testing, hydrostatic
and inert gas pressure testing, and pressure signature tracers. |
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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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Operations area: |
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National, International |
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The company export to Canada, South America, Far East, India, Nigeria,
and others. |
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Trade References: |
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The person contacted refused to provide the names of their suppliers
for us to check the trade references. |
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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: 107 CLENNDENNING POB 9064, HOUMA, LA 70363, USA |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a private company. William E. Coyle is the owner and main shareholder. |
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Management: |
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William E. Coyle Jr., President And Director Ginga T. Coyle, Secretary And Director |
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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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We have contacted the Accounts Payable Department but the person
interviewed refused to provide us any financial data on grounds of
confidentiality. |
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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 |
14,300,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are 32 UCC** files listed with the
Secretary of State of Louisiana. There are no legal filings listed with the
District Court. The last annual report was filed on
3/16/2011 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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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 company, with 143
employees and 33 years of experience. It is a private family owned and managed
business. It is headquartered in Louisiana but it
has international reach. Through our sources we could gather the
estimated range of revenue. Income is fair for its size. Payments are
regular. There is recent payment history. We suggest a credit line for USD 275,000 |
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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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Position |
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Accounts Payable |
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Comments |
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The person interviewed refused to provide us any kind of information
about the subject company and she refused to provide us her name 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.44.72 |
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UK Pound |
1 |
Rs.73.46 |
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Euro |
1 |
Rs.65.47 |
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.