MIRA INFORM REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
KALUSTYAN CORPORATION |
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Registered Office : |
855 Rahway Avenue Union, New Jersey 07083 |
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Country : |
United States |
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Date of Incorporation : |
24.04.1995 |
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Com. Reg. No.: |
0100624528 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Food Importer and distributor |
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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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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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: |
Kalustyan Corporation |
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Address in the order: |
Kalustyan Corporation |
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Legal Name: |
KALUSTYAN CORPORATION |
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Legal Address |
855 Rahway Avenue Union, New Jersey 07083, USA |
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Telephone: |
(908) 688-6111 |
Registration Number : |
0100624528 |
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Fax: |
(908) 688-4415 |
Legal Form: |
Corporation for Profit |
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Email: |
kerri@kalustyan.com |
Registered in: |
New Jersey |
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Website: |
www.kalustyan.com |
Date Created: |
1948 |
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Manager: |
Ohannes Bas, President |
Date Incorporated: |
April 24th, 1995 |
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Staff: |
50 |
Stock: |
5,000,000 |
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Value: |
No par value |
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Activity: |
Food Importer and distributor. |
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BANKS
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Name of the Bank |
BANK OF AMERICA |
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Name of the Bank |
CITIBANK, N A. |
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Name of the Bank |
FLEET NATIONAL BANK |
BUSINESS
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HISTORY |
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The company was created in 1948. |
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PRINCIPAL ACTIVITY |
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The subject company is a global importer, processor and purveyor of
spices, capsicums, herbs and aromatics. |
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Products/Services description: |
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The company distributes the following products: Anise Black Pepper Caraway Celery Coriander Cumin Dill Fennel Fenugreek Poppy Among many others |
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Sales are: |
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Wholesale, Retail |
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Clients: |
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Industrial food service providers. |
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Operations area: |
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National, International |
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The company imports from Far East |
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The company does not export |
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Competitors: |
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Major companies include Del Monte, Heinz, and JR Simplot; grower cooperatives
such as Diamond Foods and Ocean Spray; and divisions of large food companies
such as ConAgra and General Mills. |
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The subject employs 50 employee(s) |
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PAYMENTS |
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made on a 50 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered at: 855 Rahway Avenue Union, New Jersey
07083, USA |
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Surface area: |
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100,000 sq ft |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The subject company is privately held and has Mr. Karakash appears to
be the main shareholder. |
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Management: |
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John O Bas, President Errol Karakash, Chief Executive Officer Fernando Porras, Chief Financial 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, that
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
(estimates): |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
6,100,000 |
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The cash flow is |
normal |
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Legal Fillings |
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There are many UCC files listed with the
Secretary of State of New Jersey. There are no legal filings listed with the
District 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 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 medium sized American company. It
employs 50 people and has been in business for 62 years. There is no financial data available for
2010. A credit line may be considered for USD
120,000 |
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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Person Interviewed |
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Operator |
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Comments |
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The person contacted refused to provide any kind of information on grounds
of confidentiality and ended the call before we could ask for his name. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.79 |
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UK Pound |
1 |
Rs.73.19 |
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Euro |
1 |
Rs.63.59 |
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.