MIRA INFORM REPORT
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Report Date : |
27.05.2011 |
IDENTIFICATION DETAILS
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Name : |
NORTH GEORGIA CONVERTING, INC. |
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Registered Office : |
256 Paper Ln, Clarkesville GA 30523 |
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Country : |
United States |
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Date of Incorporation : |
14.05.1996 |
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Com. Reg. No.: |
K615568 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Broadwoven Fabric Mills |
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 : |
130 000 USD |
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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: |
North Georgia Converting Inc |
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Address in the order: |
256 Paper Lane, Clarksville GA 30523 |
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Legal Name: |
NORTH GEORGIA CONVERTING, INC. |
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Legal Address |
256 PAPER LN CLARKESVILLE GA 30523 |
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Telephone: |
(706) 839-6632 |
Registration Number : |
K615568 |
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Fax: |
(706) 839-6634 |
Legal Form: |
Corporation for Profit |
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Email: |
brs@windstream.net |
Registered in: |
Georgia |
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Website: |
N.A. |
Date Created: |
1996 |
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Manager: |
Vernon Mintz |
Date Incorporated: |
May 14, 1996 |
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Staff: |
70 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Broadwoven Fabric Mills |
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BANKS
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Name of the Bank |
UNITED COMMUNITY BANK |
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Location |
153 E KYTLE ST CLEVELAND
GA 30528 |
BUSINESS
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PRINCIPAL ACTIVITY |
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The company manufactures broad woven wool and woven synthetic fabrics. |
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Sales are: |
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Wholesale |
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Clients: |
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Fabric retailers |
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Operations area: |
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National, International |
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The company imports from India |
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The company export to Canada |
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Trade References: |
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The person contacted refused to provide the names of their suppliers
for us to check the trade references. |
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Competitors: |
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Medline Industries, Inc Plains Cotton Cooperative Association Albany International Corp International Textile Group, Inc |
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The subject employs 70 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 company is headquartered and single located at the above address. |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Management: |
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Chief Executive Officer; President Vernon Mintz Director Of Sales; Treas-cfo Brandy Shubert Manager Sabrina
Stewart |
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. 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 |
2010 |
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Turnover |
8 000 000 |
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The cash flow is |
normal |
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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of Georgia. 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 15 years in the business. It is a medium sized American company,
evolving in a competitive sector. Profitability is correct, indebtedness is controlled,
cash is normal and payments are regular. We did not find a specific adverse record
against the subject. A credit line may be considered for 130
000 USD. |
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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The receptionist provided us with some information; for financial and commercial
data, an email has been sent to ngc@windstream.net but an answer has not been
received yet. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.29 |
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UK Pound |
1 |
Rs.73.84 |
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Euro |
1 |
Rs.64.18 |
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.