MIRA INFORM REPORT

 

 

Report Date :           

21.06.2011

 

IDENTIFICATION DETAILS

 

Name :

AMERICAN MILLS INC

 

 

 

 

Registered Office :

1120 Everee Inn Road, Griffin, GA 30224-4720

 

 

 

 

Country :

United States 

 

 

 

 

Date of Incorporation :

07.02.1992

 

 

 

 

Legal Form :

Corporation Not for Profit

 

 

 

 

Line of Business :

Distributor of home textile

 

 

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 :

 

 

 

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

 

 Bottom of Form

 

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Medium

 

 

IDENTIFICATION

 

Ordered as:

American Miils Inc

Address in the order:

1120 Wveree Inn Road, Griffin, GA 30224

 

 

Legal Name:

American Mills Inc

 

 

Legal Address

1120 Everee Inn Road,

Griffin, GA 30224-4720, USA

 

 

Telephone:

+ 1 (770) 228-3010

Document Number :

A102244

Fax:

+ 1 (770) 228-7099

Legal Form:

Corporation Not for Profit

Email:

bshapard@amermills.com  

Registered in:

Georgia

Website:

www.amermills.com  

Date Created:

Over 70 years

Manager:

W H SHAPARD JR, Chief Executive Officer

Date Incorporated:

February 7, 1992

Staff:

100-250 employees

Stock:

NA

 

 

Value:

NA

Activity:

Distributor of home textile

 

 

BANKS

 

Name of the Bank

WACHOVIA

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

American Mills, Inc. is a private company located in the US.

 

 

The structure is a family owned and operated business in the heart of Georgia for over 70 years.

 

The company provides customers both wholesale and retail with designs and excellent services.

 

The company offers a wide range of wonderful home textile products including custom cushions, decorative pillows, indoor/outdoor rugs, pet beds, plush animals, and quilts.

 

This is a very well established business.

 

 

Products/Services description:

 

Home Chair

Cushions

Pet Beds

Plush

Pillows

Quilts

Rugs

 

 

Sales are:

 

Wholesale, Retail

Operations area:

 

National, International

Trade References:

 

The company's trade references were not confirmed with the staff.

PAYMENTS

 

Regular

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

W H SHAPARD JR, Owner.       


Management:

 

W H SHAPARD JR, Chief Executive Officer

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

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

2011

Turnover

25,000,000-75,000,000



Legal Fillings

 There are no recent UCC** files listed with the Secretary of State.

 

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 an encouraging 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 very well established structure.

 

Despites the industry in medium shape the estimate of the company's sales is encouraging.

 

We did not find a specific adverse record threatening the company's credit worthiness.

 

The company can bear a credit line.

 

A business connection can be conducted.

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 



APPENDIX

 

Comments

 

The receptionist transferred our call to an answering machine.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.99

UK Pound

1

Rs.72.60

Euro

1

Rs.64.01

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.