MIRA INFORM REPORT

 

 

Report Date :           

06.05.2011

 

IDENTIFICATION DETAILS

 

Name :

TARGET GLOBAL TRADE, INC.

 

 

Registered Office :

1000 Nicollet Mall Minneapolis, MN 55403-2542.

 

 

Country :

United States 

 

 

Date of Incorporation :

15.09.2003

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Merchandise and food discount stores

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 800,000

Status :

Satisfactory

Payment Behaviour :

Regular

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Target Global Trade Inc

Address in the order:

SM 1000 Nicollet Mall Minneapolis M N 55403

 

 

Legal Name:

Target Global Trade, Inc.

 

 

Legal Address

1000 Nicollet Mall Minneapolis, MN 55403-2542.

Operative Address

1000 Nicollet Mall Minneapolis, MN 55403-2542.

Telephone:

+1 (612) 304-6073

ID :

627843-2

Fax:

+1 (612) 304-6073

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

Minnesota

Website:

NA

Date Created:

2003

Manager:

Douglas Scovanner, CEO

Date Incorporated:

September 15th, 2003

Staff:

355,000 (At group level)

Stock:

NA

 

 

Value:

NA

Activity:

Merchandise and food discount stores

 

 

BANKS

 

Name of the Bank

Wells Fargo Bank

 

 

BUSINESS

 

HISTORY

 

The company was created in the year 2003.

PRINCIPAL ACTIVITY

 

The company is categorized under merchandise and food discount stores.

Products/Services description:

 

The company offers products like:

 

Appliances

Furniture

Clothing

Shoes

Cosmetics

 

Among others...

Sales are:

 

Retail

Clients:

 

General clientele

Operations area:

 

National, Local

The company imports from Worldwide

The company does not export

The subject employs 35,000 employee(s)

Comments on staff:

 

The company's staff increased for the year 2010 on a 9% reaching 355,000 employees at group level.

 

The staff is consolidated with that of the parent company.

 

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 1000 Nicollet Mall Minneapolis, MN 55403-2542.

 

Branches:

 

There were no branches found for this company.



Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is wholly own subsidiary of Target Corporation, a public company that trades at the stock exchange NYSE under thicker symbol of "TGT".

 

1000 NICOLLET MALL

MINNEAPOLIS, MN, 55403

Phone: +1 (612) 304-6073

www.target.com

Management:

 

Douglas Scovanner, CEO

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

We have contacted a female representative from the accounting dept, who refused to provide us any financial data without knowing the name of the inquiring party.

 

 

Currency

DATE

USD

2010(Consolidated from mother company)

Turnover

67,390,000,000

Operating Income

5,252,000,000

Net Income

2,920,000,000

Net worth

15,487,000,000

Liabilities

28,218,000,000

The cash flow is

Normal



                 Currency                

DATE

USD

2009(Consolidated from mother company)

Turnover

65,357,000,000

Operating Income

4,673,000,000

Net Income

2,488,000,000

Net worth

15,347,000,000

Liabilities

29,186,000,000

The cash flow is

Normal

 

 

Legal Fillings

 There are no UCC files listed with the Secretary of State of Minnesota.

 

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

 

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.

 

 

 Final Opinion

 

This company has been in business for 8 years. The staff increased on a 9% for the year 2010, up to 355,000 employees at group level which makes it a large sized company.

 

There were no legal filings found against the company or its legal representatives.

 

We've contacted the company but they refused to provide us any financial information without knowing the name of the inquiring party.

 

The company is wholly own subsidiary of Target Corp. (NYSE:TGT); Therefore we gathered the financial information from its mother company.

 

The company showed an increase on the revenue on a 3%.

It gave a correct profitability for the year 2010, and cash flow is normal.

 

To fully secure the credit line granted, we suggest calling the parent company as a guarantor.

 

A credit line may be considered for USD 800,000

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Person Interviewed

 

Female representative from the accounting department.

Comments

 

She refused to provide us any financial information without knowing the name of the inquiring party

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.57

UK Pound

1

Rs.73.58

Euro

1

Rs.66.23

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.