MIRA
INFORM REPORT
|
Report Date : |
13.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL MARKETING SPECIALISTS INC |
|
|
|
|
Registered Office : |
1105 Washington Street Newton, MA 02465 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
31.07.1991 |
|
|
|
|
Legal Form : |
Corporation for Profit |
|
|
|
|
Line of Business : |
Seafoods, Frozen prepared |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 800,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
GEOPOLITICS - UNITED STATES
|
|
|
POLITICAL DATA |
ECONOMIC DATA |
|
Form of Government: Federal
|
Currency: USD |
IDENTIFICATION
|
|||
|
Legal Name: |
International Marketing Specialists Inc |
||
|
Legal Address |
1105 Washington Street Newton, MA 02465 |
||
|
Telephone: |
+1 (617) 965 3400 |
ID : |
043128582 |
|
Fax: |
N/A |
Legal Form: |
Corporation for Profit |
|
Email: |
morton@forshrimp.com |
Registered in: |
Massachusetts |
|
Website: |
www.forshrimp.com |
Date Created: |
1991 |
|
Manager: |
Morton Nussbaum, CEO |
Date Incorporated: |
July 31st, 1991 |
|
Staff: |
10 |
Stock: |
N/A |
|
|
|
Value: |
N/A |
|
Activity: |
Seafoods, Frozen prepared |
||
BANKS
|
|
|
Name of the Bank |
SOVEREIGN BANK |
|
Name of the Bank |
MIDWEST GUARANTY BANK |
|
Name of the Bank |
FIRST NATIONAL BANK OF TEXAS |
BUSINESS
|
|
|
HISTORY |
|
|
|
This company was created in the year 1991. |
|
PRINCIPAL ACTIVITY |
|
|
|
The company is categorized under seafood wholesaler and retailer. |
|
Products/Services description: |
|
|
|
PEELED & CLEANED COOKED SHRIMP PEELED & CLEANED UNCOOKED SHRIMP SHELL ON SHRIMP HEAD ON SHRIMP CALAMARI DIVER SCALLOPS CRABMEAT BREADED SHRIMP |
|
Sales are: |
|
|
|
Wholesale, Retail |
|
Clients: |
|
|
|
Various industries General clientele |
|
Operations area: |
|
|
|
National, International, Local |
|
The company imports from Indonesia, Myanmar, India, Peru, Ecuador,
China and the Persian Gulf |
|
|
The company does not export |
|
|
The subject employs 10 employee(s) |
|
|
PAYMENTS |
|
|
|
regular |
|
Branches: |
|
|
|
There were no branches found for this company. |
Shareholders - Manager - Related Companies
|
|
|
Shareholders Parent Company(ies): |
|
|
|
The company is privately held and has the Nussbaum family as the main
shareholders. |
|
Management: |
|
|
|
Morton Nussbaum, CEO Marc Nussbaum, President Matt Nussbaum, Manager Ernie Wayland, Executive Vice-president Todd Rushing, Vice-president of retail sales |
Financials - COMMERCIAL TRENDS AND FORECAST
|
||
|
As a private company the subject does not publish any financial
statements. |
||
|
We have contacted Carol who refused to provide us any financial data
without knowing the name of the inquiring party. |
||
|
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. |
||
|
Currency |
DATE |
|
|
USD |
2010 |
|
|
Turnover |
65,000,000 |
|
|
Legal Fillings |
|
There are 12 UCC** files listed with the
Secretary of State of Massachusetts. 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
|
|
|
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. |
|
|
Final Opinion |
|
|
|
This is a medium sized company with 10 employees and 20 years of
experience. There were no legal filings found against the company or its legal
representatives. We've contacted the company but they refused to provide us any
information without knowing the name of the inquiring party. Our financial sources though provided us with the revenue for the year
2010. The company gave a correct profitability for that year. A credit line may be considered for USD 800,000 |
SUMMARY
|
||||
|
|
|
|
||
|
Profitability |
CORRECT |
Public Records |
NO |
|
|
Indebtedness |
|
Payments |
REGULAR |
|
|
Cash |
NORMAL |
|
|
|
APPENDIX
|
|
|
Person Interviewed |
|
|
|
Carol |
|
Position |
|
|
|
Accountant |
|
Comments |
|
|
|
She refused to provide us any financial data without knowing the name
of the inquiring party. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
|
1 |
Rs.72.93 |
|
Euro |
1 |
Rs.64.72 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.