MIRA INFORM
REPORT
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Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
TEXTILEMASTER LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
28.04.2000 |
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Legal Form : |
Corporation for
Profit |
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Line of Business : |
Textile Industry |
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 150,000. |
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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 – 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: |
Textilemaster
LLC |
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Address in the
order: |
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Legal Name: |
TEXTILEMASTER
LLC |
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Legal Address |
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Telephone: |
770 368-4111 |
ID : |
0020216 |
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Fax: |
770-368 0038 |
Legal Form: |
Corporation for
Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1991 |
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Manager: |
Mansoor
Sadruddin - President |
Date
Incorporated: |
April, 28th.
2000 |
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Staff: |
35 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Textile
Industry |
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BANKS
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Name of the
Bank |
THE SUMMIT
NATIONAL BANK |
BUSINESS
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HISTORY |
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The company was
created in 1991. |
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PRINCIPAL
ACTIVITY |
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Textile
Industry. |
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Products/Services
description: |
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The company
supplies linens and bedding, uniforms and clothes. |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals
of the industry. |
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The subject
employs 35 employee(s) |
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PAYMENTS |
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made on a 60
days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company
headquarteres at: |
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Comments on
location: |
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Legal and
operative location. |
Shareholders - Manager - Related Companies
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Shareholders
Parent Company(ies): |
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This is a private
company. The Sadruddin family is the main shareholder of the company. |
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Management: |
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Mansoor
Sadruddin, President Rozina
Sadruddin, Vicepresident Rahim
Sadruddin, Manager. |
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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We have
contacted the operator of the company who refused to provide us any
financial data on grounds of confidentiality/without knowing the name of the
inquiring party. |
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However our financial
sources could provide us with the following data: |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
10,000,000 |
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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 |
10,000,000 |
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Legal Fillings |
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There are 6 UCC files listed
with the Secretary of State of Georgia. The last annual report was filed on 3/30/2010. 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 ** 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 small sized company with 9 years in the market. A credit line may be considered for USD 150,000. |
SUMMARY
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Profitability |
CORRECT |
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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Person
Interviewed |
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Sahlma. |
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Position |
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Comptroller |
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Comments |
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The person
refused to provide information saying that she was not authorized to provide
it. |
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.