MIRA INFORM REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
CANADIAN STEEL NETWORK INC |
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Registered Office : |
6445 Kennedy Rd Unit A, |
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Country : |
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Year of Establishment : |
1998 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
The company offers a range of steel products coils & sheets |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
100,000 USD |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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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 - CANADA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: CAD |
IDENTIFICATION
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Ordered as: |
Canadian Steel Network Inc |
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Address in the order: |
64454-A, |
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Legal Name: |
Canadian Steel Network Inc |
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Legal Address |
6445 Kennedy Rd Unit A, L5T 2W4, |
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Telephone: |
+ 1 (905) 670-2900 |
Document Number : |
NA |
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Fax: |
+ 1 (905) 670-4341 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
NA |
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Website: |
Date Created: |
1998 |
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Manager: |
Gulzar Ali Jessani, President |
Date Incorporated: |
NA |
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Staff: |
35 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
The company offers a range of steel products coils & sheets |
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BANKS
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Name of the Bank |
HSBC |
BUSINESS
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PRINCIPAL ACTIVITY |
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Canadian Steel Network Inc is a private company categorized under
Steel-Distributors and Warehouses and located in This is an established small size company. The company offers a range of
steel products coils & sheets.These include prime and secondaryhot rolled, cold rolled, galvanized,
galvalume,electro-galvanized, prepainted, rainbow color, aluminum, stainless steel, ETP,TMBP & TFS. We called the business. We reached an answering machine with the name of the entity stated. |
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Sales are: |
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Wholesale |
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Operations area: |
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National, International |
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PAYMENTS |
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To be
monitored. |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The company's shareholders were not confirmed with the staff. |
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Management: |
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Gulzar Ali Jessani, President. |
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 (Exceptionally in USD). |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
28,515,535 |
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Legal Fillings |
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The
sources consulted record no detrimental legal or labor court information. |
Rating
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Local credit bureau gave a medium 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 an established company. The company is related to the steel industry
which suffered for the economic crisis encountered these recent years. Despite the pretty encouraging income we
found we remain reserved because of the general industry’s state. We would advise a maximum credit line in
the range of 100,000 USD coupled by safety with extensive guarantees. We request a review within 8 months for
follow up purposes. The company’s creditworthiness may then be reviewed. |
SUMMARY
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Profitability |
MEDIUM |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
REGULAR |
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APPENDIX
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Comments |
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We called the company. We reached an answering machine with the name
of the business stated. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.09 |
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1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.43 |
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.