MIRA INFORM
REPORT
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Report Date : |
29.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SABIC INNOVATIVE PLASTICS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.06.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Chemicals Distribution 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 500.000 |
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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: |
SABIC Innovative Plastics |
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Address in the order: |
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Legal Name: |
SABIC INNOVATIVE PLASTICS |
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Legal Address |
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Operative Address |
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Telephone: |
800-750-4355/413-448-7110 |
ID : |
4375804 |
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Fax: |
413-448-7465 |
Legal Form: |
Limited Liability Company |
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Email: |
Registered in: |
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Website: |
Date Created: |
2007 |
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Manager: |
Charlie Crew, President and Chief
Executive Officer |
Date Incorporated: |
June 11th 2007 |
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Staff: |
11.000 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Chemicals distribution industry. |
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BANKS
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Name of the Bank |
CITIBANK |
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Name of the Bank |
BANK OF |
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Name of the Bank |
CHASE BANK |
BUSINESS
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HISTORY |
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The company was founded in 2007. |
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PRINCIPAL ACTIVITY |
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The company is a global supplier of plastic resins |
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Products/Services description: |
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The company manufactures and compounds polycarbonate, ABS, ASA, PPE,
PC/ABS, PBT and PEI resins, as well as the LNP* line of high-performance
specialty compounds. |
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Sales are: |
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Wholesale |
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Clients: |
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Widely used in automotive, healthcare, consumer electronics,
transportation, performance packaging, building and construction,
telecommunications and optical media applications. |
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Operations area: |
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National, Local |
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The company imports from Asia and |
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The company export to Worldwide |
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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 company is headquartered at |
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Comments on location: |
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The company is incorporated in However, it is headquartered in |
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Branches: |
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SABIC Innovative Plastics LLC has operations in more than 25
countries. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a private company. It is subsidiary of SABIC (Saudi Basic
Industries Corporation), one of the world’s leading manufacturers of
chemicals, fertilizers, plastics and metals. |
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Management: |
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Charlie Crew, President and Chief Executive Officer |
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 company’s accountant
and he refused to provide us with any information regarding the financial
situation of the company. |
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Legal Fillings |
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There are 3 UCC files listed with the
Secretary of State of Delaware: UCC Filed On 05/28/2010. Secured Party: DE LAGE LANDEN FINANCIAL
SERVICES, INC. PA Collateral: Equip, Hereafter Aquired Prop,
Undefined UCC Filed On 06/02/2010. Secured Party: CITIBANK, N.A. NY Collateral: Accts Rec, Hereafter Aquired
Prop, Undefined UCC Filed On 05/27/2010. Secured Party: SOMERSET LEASING CORP. XVI
CT MILFORD 06461 MERRITT CORPORAT Collateral: Equip, Undefined There are no legal filings listed with the
District Court. However, we found company was implicated in
a State Tax Lien: State Tax Lien filed on 02/16/2010 for
$7,067 Court: 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 It is part of a big international company
"Saudi Basic Industries Corporation", which directly provides the A credit line
may be considered for USD 500.000 |
SUMMARY
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Profitability |
CORRECT |
Public Records |
YES |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
CORRECT |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.78 |
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1 |
Rs.71.64 |
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Euro |
1 |
Rs.62.96 |
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 |
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NB |
New Business |
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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.