MIRA INFORM REPORT
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Report Date : |
09.06.2011 |
IDENTIFICATION DETAILS
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Name : |
BALTIC LINEN COMPANY, INC. |
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Registered Office : |
1999 Marcus Avenue, Po Box 5485, Lake Success, New York, 11042 |
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Country : |
United States |
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Date of Incorporation : |
04.01.1965 |
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Com. Reg. No.: |
182819 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Supplier of bedding and bath products |
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 60,000. |
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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: |
Baltic Linen Company Inc |
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Address in the order: |
1999 Marcus Avenue Suite 300
P O Box 5485 Lake Success NY 11040-5485 |
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Legal Name: |
BALTIC LINEN COMPANY, INC. |
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Legal Address |
1999 MARCUS AVENUE PO BOX 5485 LAKE SUCCESS, NEW YORK, 11042 |
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Operative Address |
1999 MARCUS AVENUE PO BOX 5485 LAKE SUCCESS, NEW YORK, 11042 |
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Telephone: |
1-516-791-4500 |
Registration Number : |
182819 |
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Fax: |
1-516-792-2124 |
Legal Form: |
Corporation for Profit |
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Email: |
info@balticlinen.com |
Registered in: |
New York |
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Website: |
www.balticlinen.com |
Date Created: |
1936 |
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Manager: |
FRANK GREENBERG - CEO |
Date Incorporated: |
January 04, 1965 |
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Staff: |
76 |
Stock: |
240,000 shares |
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Value: |
- |
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Activity: |
Supplier of bedding and bath products |
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BANKS
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Name of the Bank |
ISRAEL DISCOUNT BANK OF NEW YORK |
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Location |
511 5TH AVE NEW YORK NY 10017 |
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Name of the Bank |
HSBC BANK USA |
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Location |
1 HSBC CTR FL 29TH BUFFALO
NY 14203 |
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Name of the Bank |
JPMORGAN CHASE BANK |
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Location |
111 W 40TH ST FL 10 NEW YORK
NY 10018 |
BUSINESS
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HISTORY |
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Baltic linen was founded in 1936 and later incorporated in 1965. |
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PRINCIPAL ACTIVITY |
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It is a major supplier of bedding and bath products. It has 4 units of Operation; Home Fashions, Hospitality, Textile
Rental and Healthcare. |
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Products/Services description: |
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Bedding Towels Sheeting Robes Blankets Table Linen Aprons ... |
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Sales are: |
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Wholesale |
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Clients: |
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Department stores, specialty stores and mass retailers: - HOME FASHIONS: Macy's Inc., Bed Bath and Beyond, Sears/Kmart, Lowes, HomeGoods,
Family Dollar, Anna's Linens - HOSPITALITY: Hilton Supply Management, Royal Caribbean Cruise Lines, Luxury
Resorts, Intercontinental Hotel Group, Atlantis Resort Paradise Island and
the MGM Group - TEXTILE RENTAL: Alsco, Unifirst Corporation, Morgan Services, Mission Linen - HEALTHCARE: New York Presbyterian Medical Center |
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Operations area: |
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National |
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The company imports from Asia |
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The subject employs 76 employee(s) |
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LOCATION |
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Headquarters |
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1999 MARCUS AVENUE STE 300 LAKE SUCCESS, NEW YORK, 11042 |
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Branches: |
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The subject has a branch in North Carolina. |
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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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Capital: |
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30,000 shares at USD 0.01 5,000 shares at USD 100 5,000 shares at USD 100 200,000 shares at USD 0.01 The type of shares was not specified. |
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Shareholders Parent Company(ies): |
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The subject is privately owned and operated by the GREENBERG family. |
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Management: |
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FRANK GREENBERG - CEO MARVIN GREENBERG - 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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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of New York. 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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The subject has 75 years experience in the
business. It is a medium sized, well established,
family owned company that specializes in wholesale and rental of textile. No adverse record has been found. A credit line may be considered for USD
60,000. |
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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 operator informed us that per company policy, they do not provide
any information without knowing the name of the inquiring party. |
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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.44.61 |
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UK Pound |
1 |
Rs.73.28 |
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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.