MIRA INFORM REPORT

 

 

Report Date :           

17.11.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

THE CANADIAN NATIONAL INSTITUTE FOR THE BLIND (CNIB)

 

 

Registered Office :

1929 Bayview Ave, Toronto, Ontario M4G 3E8

 

 

Country :

Canada

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

30.03.1918

 

 

Legal Form :

Corporation Not for Profit

 

 

Line of Business :

Vision Support Services Provider

 

 

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 1,000,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Canadian

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: 100.00 CAD  =  97.7172 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

THE CANADIAN NATIONAL INSTITUTE FOR THE BLIND (CNIB)

Trade Name:

CNIB

 

Legal Address

1929 Bayview Ave, Toronto, Ontario M4G 3E8, Canada.

Operative Address

1929 Bayview Ave, Toronto, Ontario M4G 3E8, Canada.

 

Telephone:

+1 (416) 486-2500     

ID :

119219459RR0003

Fax:

+1 (416) 480-7019

Legal Form:

Corporation Not for Profit

Email:

info@cnib.ca

Registered in:

Canada

Website:

http://www.cnib.ca  

Date Created:

1918

Manager:

John M. Rafferty, President

Date Incorporated:

March 30th, 1918

Staff:

1,200

Stock:

N/A

 

 

Value:

N/A

Activity:

Vision Support Services Provider.

 

 

BANKS

 

Name of the Bank

SCOTIA BANK

 

 

 

BUSINESS

 

HISTORY

 

The Institute was created in 1918.

 

 

PRINCIPAL ACTIVITY

 

The Institute is a Canadian community-based volunteer agency which engages into research, public education and the vision health of Canadian people.

 

Products/Services description:

 

The Institute provides vital programs and services, related consumer products and a big sized library for people with print disabilities.

Sales are:

 

Wholesale.

Clients:

 

People who suffer vission loss.

Operations area:

 

National.

The company does not import.

The company does not export.

The subject employs 1,200 employees.

 

 

PAYMENTS

 

Made on a 30 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is headquartered at:

1929 Bayview Ave, Toronto, Ontario M4G 3E8, Canada.

Branches:

 

The company owns several branches across the Canadian territory.

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a community-based volunteer agency.

Management:

 

John M Rafferty, President.

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

The subject is a registered Charity under the Income Tax Act of Canada. In order to maintain its status, the Institute must publish the Statements of Financial Position and Results of Operation. Please find enclosed the financial statements.

 

Legal Fillings

The sources consulted record no detrimental legal or labor court information.

 

 

Rating

 

Local credit bureau gave a MEDIUM credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

Final Opinion

 

This is a big sized Canadian non-profit organization which employs 1,200 people and has been active for 93 years.

 

The organization is active and, as a registered Charity Organization, is exempt from income taxes.

 

In order to maintain its status, the company's reports and financial statements have been presented and approved correctly.

 

The sources consulted record no detrimental legal or labor court information.

 

The Institute is well established in Canada, and its structure is solid.

 

The financial figures for the 2010 period shows that the Institute is improving its performance by lowering the cost and its indebtedness, which is in the range of controlled.

 

Therefore, credit line may be considered for USD 1,000,000



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

NIL

Public

YES

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Person Interviewed

 

The contacted person refused to provide her name without knowing the name of the inquiring party.

Position

 

Female Accounts Payable Representative

Comments

 

The contacted person provided us with the following information: Institute's Name, Locations, Activity, Products and Services, Number of employees, Management Staff, Shareholding, Branches, Payment Trends to the suppliers.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.90

UK Pound

1

Rs.80.30

Euro

1

Rs.68.48

 

 

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.