MIRA INFORM REPORT
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Report Date : |
21.05.2011 |
IDENTIFICATION DETAILS
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Name : |
BARAKA CORPORATION |
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Formerly Known As : |
AMPAK INTERNATIONAL, LTD., INC. |
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Registered Office : |
6131 West 80th Street, Indianapolis, In 46278 |
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Country : |
United States |
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Date of Incorporation : |
08.06.1983 |
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Com. Reg. No.: |
198306-201 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Microfiber products, textile manufacturer |
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 : |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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: |
Calderon Textile LLC |
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Address in the order: |
6131 W 80th Street Indianapolis IN 46278 |
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Comments on data supplied: |
The name provided in the order is the former name of the company. |
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Legal Name: |
BARAKA CORPORATION |
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Trade Name: |
FKA CALDERON TEXTILES, INC. |
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Legal Address |
6131 WEST 80TH STREET, INDIANAPOLIS, IN 46278 |
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Operative Address |
6131 WEST 80TH STREET, INDIANAPOLIS, IN 46278 |
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Telephone: |
888.742.1998 |
Registration Number : |
198306-201 |
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Fax: |
(317)388-4200 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
INDIANA |
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Website: |
Date Created: |
N.A. |
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Manager: |
M Azher Khan - President |
Date Incorporated: |
June 8, 1983 |
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Staff: |
50 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Microfiber products, textile manufacturer. |
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BANKS
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Name of the Bank |
MARSHALL & ILSLEY BANK |
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Name of the Bank |
FIFTH THIRD BANK |
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Name of the Bank |
CITIZENS BANK |
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Name of the Bank |
NATIONAL CITY BANK |
BUSINESS
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HISTORY |
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The company was formerly named AMPAK INTERNATIONAL, LTD., INC. , until
1995 when it changed to CALDERON TEXTILES, INC. Then on 2/25/2009 the name was changed to the current one. |
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PRINCIPAL ACTIVITY |
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The subject is a market leader with more than two and a half decades
of expertise serving the hospitality, healthcare, textile rental and retail
markets, Calderon Textiles maintains a dependable supply of top quality products
at affordable prices. |
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Products/Services description: |
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Pillows Bedspreads Microfiber mops Baths Linens |
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Sales are: |
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Wholesale |
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Brands: |
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Confort Weave Sweet Dreams Luxuria Microtex Camelot Everest Duramop |
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Clients: |
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Hotels and Hospitality Healthcare |
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The company export to Canada |
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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: 6131 W. 80th Street Indianapolis, IN 46278 - USA |
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Branches: |
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The company has a branch at: 9300 Langelier, Montreal, Qc. H1P 2E1 -
CANADA |
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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Despite of our searches, it has not been possible to identify the
shareholders of the company. |
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Management: |
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M Azher Khan - 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: |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
8,500,000 |
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Operating Income |
840,000 |
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Net Income |
569,000 |
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Net worth |
2,000,000 |
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Liabilities |
300,000 |
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The cash flow is |
NORMAL |
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Comments on the financial data: As of today, it
has not been possible to obtain more updated data about the subject. |
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Legal Fillings |
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There are some UCC** files listed with the
Secretary of State of Indiana. 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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The company has 27 years of experience in that
activity. This is a medium size company with 50
employees. No adverse records were found against the
subject. A credit line may be considered. |
SUMMARY
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Profitability |
N.A. |
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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The person contacted informed us that she is not allowed to provide any
information about the company on grounds of confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.93 |
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UK Pound |
1 |
Rs.72.92 |
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Euro |
1 |
Rs.64.34 |
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.