MIRA INFORM REPORT
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Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
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Name : |
CAROLE FABRICS CORPORATION |
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Registered Office : |
2711 Centerville Road
Suite 400, Wilmington, New Castle, De |
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Country : |
United States |
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Date of Incorporation : |
20.09.1990 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Window Products Distribution |
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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United States |
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: |
Carole Fabrics |
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Address in the order: |
633 N.W. Frontage Rd., USA 30907 Augusta GA, USA |
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Legal Name: |
CAROLE FABRICS CORPORATION |
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Legal Address |
2711 centerville road
suite 400, wilmington, new castle, de, USA (incorporators) |
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Operative Address |
633 N.W. Frontage Rd., USA 30907 Augusta GA, USA (headquarters) |
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Telephone: |
(706) 863-4742 |
ID : |
2241785 |
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Fax: |
(706) 863-4742 ext 268 |
Legal Form: |
Corporation for Profit |
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Email: |
contact@carolefabrics.com |
Registered in: |
Delaware |
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Website: |
http://www.carolefabrics.com |
Date Created: |
1960 |
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Manager: |
Marvin Hopkins, CEO |
Date Incorporated: |
September 20th, 1990 |
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Staff: |
506 |
Stock: |
1,000 |
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Value: |
usd 1 |
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Activity: |
Window products distribution |
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BANKS
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Name of the Bank |
U.S. BANCORP |
BUSINESS
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HISTORY |
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The company was created
in 1960 |
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PRINCIPAL ACTIVITY |
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Window products distribution |
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Products/Services description: |
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The company provides custom
window products from imported fabrics. |
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Sales are: |
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Retail |
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Operations area: |
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National |
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The subject employs 506
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 legal address is that
of the regsitered agent: 2711 Centerville Road Suite 400, Wilmington, New
Castle, De, USA However, it is
headquartered at: 633 N.W. Frontage Rd., USA 30907 Augusta GA, USA |
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Comments on location: |
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Headquarters and operatiive location |
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: Hunter Douglas Inc. 2 Park Way & Route 17
South, Upper Saddle River, NJ 07458, United States |
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Management: |
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Marvin Hopkins, CEO G Khan, CFO Richard Gottuso, Secretary |
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, who refused to provide us any financial data without knowing
the name of the inquiring party. |
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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 |
2007 |
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Turnover |
38,400,000 |
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The cash flow is |
NORMAL |
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Comments on the financial data: The company has an estimated revenue of between USD 40 and 45
million. |
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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of Delaware. 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 United States citizens and permanent
residents are prohibited from doing business. ** 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 United States of America. 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 large sized American company, which employs 506 people and
has 50 years of experience in the market. The financial data show a positive trend regarding the company’s
activities and experience. A credit line may be considered for USD 500,000 To fully secure the credit line granted, we suggest calling the parent
company as a guarantor. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Comments |
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We have contacted the
company, who refused to provide us any financial data without knowing the
name of the inquiring party. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.34 |
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UK Pound |
1 |
Rs.73.70 |
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Euro |
1 |
Rs.65.75 |
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.