MIRA INFORM REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
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Name : |
CLASSIC WINE IMPORTS INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
05.03.1969 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wine and Distilled Alcoholic Beverage Wholesaler |
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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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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: 100 USD = 72 EUR |
IDENTIFICATION
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Ordered as: |
CLASSIC WINE IMPORTS |
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Address in the order: |
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Legal Name: |
CLASSIC WINE IMPORTS INC |
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Trade Name: |
CWI |
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Legal Address |
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Telephone: |
+1 (781) 352-1100 |
Document Number: |
042453810 |
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Fax: |
+1 (781) 352-1116 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1969 |
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Manager: |
Carmine Martignetti, President |
Date Incorporated: |
March 05th, 1969 |
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Staff: |
95 employees |
Stock: |
2,890 |
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Value: |
No Par Value |
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Activity: |
Wine and Distilled Alcoholic Beverage Wholesaler. |
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BANKS
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Name of the Bank |
BANK OF |
BUSINESS
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HISTORY |
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The company was founded in 1969. |
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PRINCIPAL ACTIVITY |
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The company is a wine and distilled
alcohol wholesaler. The company's portfolio carries a
selection of wines from such areas as Classic Wine Imports, Inc. offers a large
range of in-house printing services. The company has invested in a desktop
publishing system and laminating equipment, allowing them to produce
newsletters, wine lists, and table tents. The subject owns the required license to
operate. |
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Sales are: |
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Wholesale |
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Clients: |
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Restaurant Hotel customers Stores. |
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Operations area: |
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National, International |
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The company imports from worldwide |
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The company does not export |
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Trade References: |
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Despite our searches we were not able to find any company's trade references |
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The subject employs 95 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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Single location: |
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Business Overview: |
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Demand for wine is driven by the restaurant and hotel industries, the
level of business entertainment spending, and consumer income. A winery's
profitability depends on production volume and sales price, both of which can
vary from year to year. Large companies have stronger distribution channels.
There are large economies of scale in production. Small wineries can compete
with big-volume producers by making higher-quality wines that sell at a
premium price. Wineries manufacture wine and brandies through fermentation of grapes
and other fruit. Grapevines are tended in spring and summer and grapes
harvested in early fall. After being crushed, the grapes (skins, pulp and
liquid, called the "must") are fermented in large vats for several
weeks. Fermentation is caused by the yeast Saccharomyces, found naturally on
grape skins, that transforms the sugar of the grape into alcohol. After
fermentation, the wine is pressed out and aged in metal vats for several
months before being filtered and bottled. Some companies blend several
different wines before bottling and may buy blending wine from other
producers. Higher-quality wine is aged in oak casks for up to two years
before bottling. White wines are produced by removing the grape skins at the
crushing stage. Wine may be stored and shipped in tanks, barrels, and bottle
case lots. Annual production for small wineries is under 50,000 12-bottle
cases per year. A large winery may produce more than 500,000 cases. |
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, wholly owned by Martignetti Grocery Co, Inc. Around 150 employees |
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Management: |
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Carmine Martignetti, President & Chief Executive Officer Carl J. Martignetti, Director Jennifer Bodner, Manager Ken Powers, Vice President of Sales Lloyd Foster, Marketing Director Shawna Harper, Accounting department |
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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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 |
2009 |
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Turnover |
13,100,000 |
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Operating Income |
1,100,000 |
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Net Income |
880,000 |
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Net worth |
3,800,000 |
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Liabilities |
430,000 |
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The cash flow is |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
12,600,000 |
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Operating Income |
1,800,000 |
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Net Income |
1,100,000 |
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Net worth |
3,000,000 |
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Liabilities |
500,000 |
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The cash flow is |
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Legal Fillings |
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There are no active UCC files listed with
the Secretary of State of Massachusetts. There are no legal filings listed with the
District Court. The last annual report was filed on
11/25/2009. For information: 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 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. |
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 size company and they have
years of experience in this business. The company profitability is good and the
payment trend remains regular. Moreover, looking at the company's
turnover we can see that it can be considered fair for the company's size. The business inspires confidence. At this time, we believe that the company
has the ability to bear the credit line requested. The business connection can be conducted. |
SUMMARY
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Profitability |
GOOD |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Position |
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Operator |
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Comments |
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She was able to confirm us the information in the report. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
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 |
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.