MIRA INFORM REPORT
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Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
POLYONE CORPORATION |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
31.08.2000 |
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Com. Reg. No.: |
1181191 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Provider of specialized polymer material |
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 : |
200,000 USD. |
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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: USD |
IDENTIFICATION
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Ordered as: |
Polyone Corporation |
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Address in the order: |
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Legal Name: |
POLYONE CORPORATION |
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Legal Address |
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Operative Address |
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Telephone: |
+1 (440)- 930- 1000 |
Registration Number : |
1181191 |
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Fax: |
+1 (440)- 930- 3799 |
Legal Form: |
Corporation for Profit |
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Email: |
N.A. |
Registered in: |
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Website: |
Date Created: |
1927 |
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Manager: |
Stephen D Newlin Chief Executive Officer |
Date Incorporated: |
August 31st, 2000 |
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Staff: |
4,0000 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Provider of specialized polymer material |
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BANKS
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Name of the Bank |
The Bank of |
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Name of the Bank |
U.S. BANK |
BUSINESS
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HISTORY |
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The company was founded in 1927 and is headquartered in |
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PRINCIPAL ACTIVITY |
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PolyOne Corporation provides specialized polymer materials, services,
and solutions with operations in thermoplastic compounds, specialty polymer
formulations, color and additive systems, thermoplastic resin distribution,
and specialty polyvinyl chloride (PVC) resins. |
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Products/Services description: |
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The company's International Color and Engineered Materials segment offers
color and additive masterbatches, and engineered materials. Its Specialty Engineered Materials segment provides custom plastic
compounding services and solutions for processors of thermoplastic materials
to various markets, as well as offers a range of thermoplastic elastomer
compounds for consumer, packaging, and medical applications. PolyOne's Specialty Color, Additives, and Inks segment provides
specialized color and additive concentrates, as well as inks and latexes. Its Performance Products and Solutions segment offers vinyl compounds,
vinyl resins, and specialty coating materials based on vinyl to various
manufacturers of plastic parts and consumer-oriented products, as well as
offers materials testing and component analysis, custom compound development,
colorant and additive, design assistance, structural analyses, process
simulations, and extruder screw design services. The company's PolyOne Distribution segment distributes engineering and
commodity grade resins to custom injection molders and extruders. PolyOne's
Resin and Intermediates segment produces chlorine and caustic soda. The company primarily serves building and construction materials, wire
and cable, transportation, durable goods, packaging, electrical and
electronics, medical, and telecommunications markets, as well as various
industrial applications. PolyOne sells its products worldwide through direct sales personnel,
sales agents, and distributors. |
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Sales are: |
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Wholesale |
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Clients: |
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Appliance Building & Construction Consumer Electrical & Electronics Healthcare Industrial Packaging Textiles Transportation Wire & Cable |
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Operations area: |
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National, International |
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The company imports from Worldwide locations |
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The company export to Worldwide locations. |
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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 4,000 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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The subject is headquartered at The legal address is that of registered agent. |
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Branches: |
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The company as several offices around the |
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Business Overview: |
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The |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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YES |
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Capital: |
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The subject is publicly traded at the NYSE under the ticker (POL). - Stock Data Market Capitalization (in millions) $842.18 Percent Owned by Institutions 93.08% Shares Outstanding (in millions) 92.75 Number of Institutional Shareholders 444 Public Float (in millions)* 91.02 Percent Owned by Insiders 1.87% *Shares outstanding, minus shares controlled by insiders, restricted
stock and shares held by 5% owners. |
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Shareholders Parent Company(ies): |
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- MAJOR
INSTITUTIONAL AND MUTUAL FUND HOLDERS DIMENSIONAL FUND ADVISORS LP BARROW, HANLEY MEWHINNEY & STRAUSS, INC.VANGUARD GROUP, INC. (THE) BlackRock Fund Advisors GOLDMAN SACHS GROUP INC Kidron Capital LLC WENTWORTH, HAUSER AND VIOLICH BlackRock Institutional Trust Company, N.A. STATE STREET CORPORATION SYSTEMATIC FINANCIAL MANAGEMENT, L.P. DFA GOLDMAN SACHS SMALL CAP VALUE FUND American Beacon Small Cap Value Fd ISHARES S&P SMALLCAP 600 INDEX FD RiverSource Partners VP Small Cap Value Fd ROYCE ISHARES RUSSELL 2000 INDEX FD VANGUARD SMALL-CAP INDEX FUND VANGUARD TOTAL STOCK MARKET INDEX FUND TOCQUEVILLE DELAFIELD FUND, INC. - MAJOR DIRECT
HOLDERS MOONEY EDWARD J NEWLIN STEPHEN D HARNETT GORDON D POWELL WILLIAM HOWARD |
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Management: |
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Board of Directors Stephen D. Newlin J. Douglas Campbell Dr. Carol A. Cartwright Richard H. Fearon Gordon D. Harnett Richard A. Lorraine Edward J. Mooney William H. Powell Farah M. Walters Key Executives Stephen D. Newlin , Chairman, Chief Exec. Officer, Pres, Member of
Environmental, Health & Safety Committee and Member of Financial Policy
Committee Mr. Robert M. Patterson , Chief Financial Officer, Principal
Accounting Officer and Sr. VP Bernard P. Baert , Sr. VP and Pres of Europe & International Robert M. Rosenau , Sr. VP and Pres of Performance Products &
Solutions Kenneth M. Smith , Chief Information & HR Officer and Sr. VP |
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Related Companies: |
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PolyOne Deutschland, GmbH PolyOne Distribution de
Mexico S.A. de C.V. PolyOne Engineered Films, Inc. PolyOne Espana, S.L. PolyOne Europe PolyOne Funding Corporation PolyOne Funding Canada Corporation PolyOne International Financial Services Company PolyOne International Trading ( PolyOne PolyOne Management International Holding, S.L. PolyOne PolyOne Hong Kong Holding Ltd. PolyOne Hungary, Ltd. PolyOne PolyOne Luxembourg S.a.R.L. PolyOne PolyOne Polska, Sp.z.o.o. PolyOne Polymers India Pvt. Ltd PolyOne-Shenzhen Co. Ltd. PolyOne Singapore, Ltd. PolyOne PolyOne Termoplasticos do Brasil Ltda. PolyOne Th. Bergmann, GmbH PolyOne Vinyl Compounds Asia Holdings Limited PolyOne Vinyl Compounds Dongguan Co. Ltd. PolyOne Wilflex Australasia Pty Ltd. Regalite Plastics Corporation Shawnee Holdings, Inc. Star Color Co. Ltd. Sunbelt Chlor-Alkali Partnership (50% owned) Tekno Polimer Muhendislik Plastikleri San. ve Tic. A.S. Tekno Ticaret Muhendislik Plastikleri San. ve. Tic. A.S. |
Financials - COMMERCIAL TRENDS AND FORECAST
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The subject is a public company traded at
the stock exchange. Please find enclosed the financial statements. |
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Legal Fillings |
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There are several UCC files listed with
the Secretary of State of Ohio. The company is defendant in various
pending lawsuits and proceedings and is subject to various other claims
arising in the normal course of its business. Although the outcome of these
lawsuits and proceedings cannot be predicted with certainty at this time, it
is believed that the ultimate disposition of such suits will not have a
material adverse effect on the company. The last annual report was filed on
18-Feb-10. 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 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 big size company with several years
in the industry. Looking at the company's consolidating, we
can see that the company had losses in 2008. However, from 2009 until 2010, the
company's income is increasing. As of today, the profitability is correct
but the debt level is still high. At this time, we believe that the company
can bear a credit line in the range of 200,000 USD. We suggest making a follow- up report
within 9 months to monitor the company's debt level evolution. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
HIGH |
Payments |
REGULAR |
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Cash |
CORRECT |
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APPENDIX
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Position |
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Operator |
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Comments |
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He was able to confirm us some 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.45.21 |
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1 |
Rs.72.55 |
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Euro |
1 |
Rs.62.43 |
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.