MIRA INFORM REPORT
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Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
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Name : |
VERBATIM AMERICAS LLC |
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Registered Office : |
1200 W W T Harris Blvd, Charlotte, NC 28262-8536 |
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Country : |
United States |
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Year of Establishment : |
1969 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
develops and markets
a range of data storage products |
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No. of Employees
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5 Persons |
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 : |
$1,000 (USD) |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company name & address
Verbatim Americas LLC
1200 W W T Harris Blvd
Charlotte, NC 28262-8536
United States
Tel: 704-547-6500
Fax: 704-547-6813
Toll Free: 800-538-8589
Web: www.verbatim.com
Synthesis
Employees: 5
Company Type: Private Subsidiary
Corporate Family: 2 Companies
Ultimate Parent: Mitsubishi Chemical Corp.
Incorporation Date: 1969
Financials in: USD
(Millions)
Reporting Currency: US
Dollar
Annual Sales: 350.0
Total Assets: NA
Business Description
Founded in 1969,
Verbatim Americas develops and markets a range of data storage products. It
offers a variety of inkjet, thermal and silk-screening CDs, DVDs and tape
storage products. The company provides camcorder DVDs, floppy diskettes and
magneto optical products in various sizes. Verbatim Americas also offers memory
cards, universal serial bus drives and card readers. It provides a range of
adapters and portable and desktop hard drives. The company offers various
computer accessories, such as mice, keyboards, storage cases and cleaning
products. In addition, Verbatim Americas provides a range of technical support
services. It is a subsidiary of Mitsubishi Chemical Corporation.
Industry
Industry Business Services
ANZSIC 2006: 3739 - Other Goods
Wholesaling Not Elsewhere Classified
NACE 2002: 5119 - Agents
involved in the sale of a variety of goods
NAICS 2002: 425120 - Wholesale
Trade Agents and Brokers
UK SIC 2003: 5119 - Agents
involved in the sale of a variety of goods
US SIC 1987: 5199 - Nondurable
Goods, Not Elsewhere Classified
Key Executives
(Emails Available)
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Name |
Title |
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Randal F Queen |
President & Chief Executive Officer |
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Terry Young |
Vice President-Finance &
Administration |
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Robert Burkhardt |
Vice President-Business Management |
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Chuck Dewitt |
Information Systems |
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Ronan Ryan |
Vice President-Product Management |
News
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Title |
Date |
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Verbatim
Debuts Range of LED and OLED Lighting Products at LightFair 2011 |
16-May-2011 |
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Max Borges
Agency Named Agency of Record for Verbatim, the Global Leader in High-Quality
Mobile Digital Storage Solutions |
1-Feb-2011 |
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Verbatim
Introduces Brand-New Collection of Innovative Portable Peripherals at 2011
CES |
6-Jan-2011 |
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Verbatim®
Unveils Fastest, Sleekest USB 3.0 Portable Hard Drives at CES 2011 |
6-Jan-2011 |
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Verbatim®
"Connects" Users with Petite and Powerful Flash Drives and SSDs at
CES 2011 |
6-Jan-2011 |
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
Location
1200 W W T Harris Blvd
Charlotte, NC, 28262-8536
Mecklenburg County
United States
Tel: 704-547-6500
Fax: 704-547-6813
Toll Free Tel: 800-538-8589
Web: www.verbatim.com
Sales USD(mil): 350.0
Assets USD(mil): NA
Employees: 5
Industry: Business Services
Incorporation Date: 1969
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Business Projects: Tracy
Coleman
Contents
· Industry Codes
· Business Description
· Product Codes
· Brand/Trade Names
· Financial Data
· Key Corporate Relationships
· Additional Information
Industry Codes
ANZSIC 2006 Codes:
6962 - Management Advice and Related Consulting Services
3739 - Other Goods Wholesaling Not Elsewhere Classified
NACE 2002 Codes:
7414 - Business and management consultancy activities
5147 - Wholesale of other household goods
5119 - Agents involved in the sale of a variety of goods
NAICS 2002 Codes:
425120 - Wholesale Trade Agents and Brokers
423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
541613 - Marketing Consulting Services
US SIC 1987:
5199 - Nondurable Goods, Not Elsewhere Classified
5099 - Durable Goods, Not Elsewhere Classified
8742 - Management Consulting Services
UK SIC 2003:
7414 - Business and management consultancy activities
5147 - Wholesale of other household goods
5119 - Agents involved in the sale of a variety of goods
Business
Description
Founded in 1969,
Verbatim Americas develops and markets a range of data storage products. It
offers a variety of inkjet, thermal and silk-screening CDs, DVDs and tape
storage products. The company provides camcorder DVDs, floppy diskettes and
magneto optical products in various sizes. Verbatim Americas also offers memory
cards, universal serial bus drives and card readers. It provides a range of
adapters and portable and desktop hard drives. The company offers various
computer accessories, such as mice, keyboards, storage cases and cleaning
products. In addition, Verbatim Americas provides a range of technical support
services. It is a subsidiary of Mitsubishi Chemical Corporation.
More Business
Descriptions
Manufacturer of
erasable optical disks, CD-R discs, DVD discs, memory cards, USB drives, floppy
disks, digital cassette tapes, and quarter inch cartridges. Products are sold
to multiple industries.
Product Codes
Product Code Product Description
COM-AX-MC High density 10 or
20 megabyte cassette tapes
COM-AX-MF 3 1/2 inch floppy
disks
COM-AX-MH Data cartridges
COM-AX-MQ CD recordable discs
COM-AX-MQ CD rewritable discs
COM-AX-MQ DVD rewritable discs
COM-AX-MQ Erasable optical
disks
COM-AX-MQ WORM/ROM disks
COM-CM-FZ USB drives
COM-CM-I Memory cards
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ABI Number: |
008918377 |
Credit Report as of 02/01/2011
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Location |
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1200 W W T Harris Blvd |
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County: |
Mecklenburg |
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MSA: |
Char-Gasto, NC |
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Phone: |
704-547-6500 |
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Fax: |
704-547-6813 |
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ABI©: |
008918377 |
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Annual Sales: |
$350,000,000 (USD) |
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Employees: |
5 |
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Facility Size(ft2): |
2,500 - 9,999 |
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Facility Own/Lease: |
Own |
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Business Type: |
Private |
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Location Type: |
Single Location |
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Recommended
Credit Limit * |
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$1,000 (USD) |
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Primary Line Of Business: |
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SIC: |
5199-99 - Misc Non-Durable Goods NEC (Whls) |
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NAICS: |
425120 - Wholesale Trade Agents & Brokers |
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Secondary Lines Of
Business: |
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NAICS: |
541613 - Marketing Consulting Svcs |
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423990 - All Other Durable Goods Merchant Whols |
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SICs: |
5099-05 - Importers (Whls) |
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8742-13 - Marketing Programs & Services |
Table of Contents
Profile Links
Similar Businesses in the Area
Closest Neighbors
External Links
Similar Businesses in the Area *
Global Medical
Imaging LLC
222 Rampart St
Charlotte, NC 28203-4932
Cavin's Business
Solutions Inc
11800 Broadwater Ln
Charlotte, NC 28273-6702
Old Towne
Development
8312 Caldwell Rd
Harrisburg, NC 28075-9310
Cannon Advertising
Specialty Inc
2333 Carved Tree Ln
Charlotte, NC 28262-3154
Carolina Baby Safe
9001 Waggoneer Cir
Charlotte, NC 28270-0844
Renuka Import
Export Corp
2232 Arbor Vista Dr
Charlotte, NC 28262-2468
Cook Trading Co
Inc
158 Wynward Ln
Mooresville, NC 28117-7801
Imaging Source LLC
6926 Shannon Willow Rd Ste: 400
Charlotte, NC 28226-1335
Carole Rainwater
Advertising
10023 Buggy Horse Rd
Charlotte, NC 28277-6674
Gulf Export
9231 Sandpiper Dr
Charlotte, NC 28277-5520
* Similar Businesses are
defined as the closest businesses sharing the same six-digit primary SIC code (
5199-99 - Misc Non-Durable Goods NEC (Whls)) regardless of size.
Closest Neighbors
Towneplace Suites
8710 Research Dr
Charlotte, NC 28262-8570
Romano's Macaroni
Grill
8620 Research Dr
Charlotte, NC 28262-8534
Springhill
Suites-Univ Rsrch
8700 Research Dr
Charlotte, NC 28262-8570
Electric Power
Research Institute
1300 W W T Harris Blvd
Charlotte, NC 28262-8550
EPS Settlements
Group
8307 University Exec Park Ste: 292
Charlotte, NC 28262-1326
EPRINDE Center
1300 W W T Harris Blvd
Charlotte, NC 28262-8550
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Corporate
Family |
Corporate
Structure News: |
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Verbatim
Americas LLC |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Mitsubishi Chemical Corp. |
Parent |
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Subsidiary |
Charlotte, NC |
United States |
Business Services |
350.0 |
5 |
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Executive report
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Executives |
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President & Chief Executive Officer |
Chief Executive Officer |
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Vice President-Product Management |
Operations Executive |
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Vice President-Finance & Administration |
Administration Executive |
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Controller |
Controller |
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Director-Human Resources |
Human Resources Executive |
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Vice President-Sales |
Sales Executive |
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Marketing Manager |
Marketing Executive |
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Public Relations Manager |
Public Relations Executive |
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Information Systems |
Information Executive |
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DBA |
Engineering/Technical Executive |
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Vice President-Business Management |
Business Development Executive |
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Director-Purchasing |
Purchasing Executive |
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Business Projects |
Other |
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Standard
& Poor’s
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United
States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks,
Rising Debt Burden; Outlook Negative |
|
Publication
date: 05-Aug-2011 20:13:14 EST |
·
We have lowered our long-term
sovereign credit rating on the United States of America to 'AA+' from 'AAA' and
affirmed the 'A-1+' short-term rating.
·
We have also removed both the short- and long-term ratings
from CreditWatch negative.
·
The downgrade reflects our opinion that the fiscal
consolidation plan that Congress and the Administration recently agreed to
falls short of what, in our view, would be necessary to stabilize the government's
medium-term debt dynamics.
·
More broadly, the downgrade reflects our view that the
effectiveness, stability, and predictability of American policymaking and
political institutions have weakened at a time of ongoing fiscal and economic
challenges to a degree more than we envisioned when we assigned a negative
outlook to the rating on April 18, 2011.
·
Since then, we have changed our view of the difficulties in
bridging the gulf between the political parties over fiscal policy, which makes
us pessimistic about the capacity of Congress and the Administration to be able
to leverage their agreement this week into a broader fiscal consolidation plan
that stabilizes the government's debt dynamics any time soon.
·
The outlook on the long-term rating is negative. We could
lower the long-term rating to 'AA' within the next two years if we see that
less reduction in spending than agreed to, higher interest rates, or new fiscal
pressures during the period result in a higher general government debt
trajectory than we currently assume in our base case.
TORONTO (Standard &
Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it
lowered its long-term sovereign credit rating on the United States of America
to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the
long-term rating is negative. At the same time, Standard & Poor's affirmed
its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's
removed both ratings from CreditWatch, where they were placed on July 14, 2011,
with negative implications.
The transfer and
convertibility (T&C) assessment of the U.S.--our assessment of the
likelihood of official interference in the ability of U.S.-based public- and
private-sector issuers to secure foreign exchange for
debt service--remains
'AAA'.
We lowered our long-term
rating on the U.S. because we believe that the prolonged controversy over
raising the statutory debt ceiling and the related fiscal policy debate
indicate that further near-term progress containing the growth in public
spending, especially on entitlements, or on reaching an agreement on raising
revenues is less likely than we previously assumed and will remain a
contentious and fitful process. We also believe that the fiscal consolidation
plan that Congress and the Administration agreed to this week falls short of
the amount that we believe is necessary to stabilize the general government
debt burden by the middle of the decade.
Our lowering of the
rating was prompted by our view on the rising public debt burden and our
perception of greater policymaking uncertainty, consistent with our criteria
(see "Sovereign Government Rating
Methodology and Assumptions ," June 30, 2011,
especially Paragraphs 36-41). Nevertheless, we view the U.S. federal
government's other economic, external, and monetary credit attributes, which
form the basis for the sovereign rating, as broadly unchanged.
We have taken the ratings
off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment
of 2011 has removed any perceived immediate threat of payment default posed by
delays to raising the government's debt ceiling. In addition, we believe that
the act provides sufficient clarity to allow us to evaluate the likely course
of U.S. fiscal policy for the next few years.
The political
brinksmanship of recent months highlights what we see as America's governance
and policymaking becoming less stable, less effective, and less predictable
than what we previously believed. The statutory debt ceiling and the threat of
default have become political bargaining chips in the debate over fiscal
policy. Despite this year's wide-ranging debate, in our view, the differences
between political parties have proven to be extraordinarily difficult to
bridge, and, as we see it, the resulting agreement fell well short of the
comprehensive fiscal consolidation program that some proponents had envisaged
until quite recently. Republicans and Democrats have only been able to agree to
relatively modest savings on discretionary spending while delegating to the
Select Committee decisions on more comprehensive measures. It appears that for
now, new revenues have dropped down on the menu of policy options. In addition,
the plan envisions only minor policy changes on Medicare and little change in
other entitlements,
the containment of which
we and most other independent observers regard as key to long-term fiscal
sustainability.
Our opinion is that
elected officials remain wary of tackling the structural issues required to
effectively address the rising U.S. public debt burden in a manner consistent
with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating
Methodology and Assumptions," June 30, 2011,
especially Paragraphs 36-41). In our view, the difficulty in framing a
consensus on fiscal policy weakens the government's ability to manage public
finances and diverts attention from the debate over how to achieve more
balanced and dynamic economic growth in an era of fiscal stringency and
private-sector deleveraging (ibid). A new political consensus might (or might
not) emerge after the 2012 elections, but we believe that by then, the
government debt burden will likely be higher, the needed medium-term fiscal
adjustment potentially greater, and the inflection point on the U.S.
population's demographics and other age-related spending drivers closer at hand
(see "Global Aging 2011: In The
U.S., Going Gray Will Likely Cost Even More Green, Now,"
June 21, 2011).
Standard & Poor's
takes no position on the mix of spending and revenue measures that Congress and
the Administration might conclude is appropriate for putting the U.S.'s
finances on a sustainable footing.
The act calls for as much
as $2.4 trillion of reductions in expenditure growth over the 10 years through
2021. These cuts will be implemented in two steps: the $917 billion agreed to
initially, followed by an additional $1.5 trillion that the newly formed
Congressional Joint Select Committee on Deficit Reduction is supposed to
recommend by November 2011. The act contains no measures to raise taxes or
otherwise enhance revenues, though the committee could recommend them.
The act further provides
that if Congress does not enact the committee's recommendations, cuts of $1.2
trillion will be implemented over the same time period. The reductions would
mainly affect outlays for civilian discretionary spending, defense, and
Medicare. We understand that this fall-back mechanism is designed to encourage
Congress to embrace a more balanced mix of expenditure savings, as the committee
might recommend.
We note that in a letter
to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated
total budgetary savings under the act to be at least $2.1 trillion over the
next 10 years relative to its baseline assumptions. In updating our own fiscal
projections, with certain modifications outlined below, we have relied on the
CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to
include the CBO assumptions contained in its Aug. 1 letter to Congress. In
general, the CBO's "Alternate Fiscal Scenario" assumes a continuation
of recent Congressional action overriding existing law.
We view the act's
measures as a step toward fiscal consolidation. However, this is within the
framework of a legislative mechanism that leaves open the details of what is
finally agreed to until the end of 2011, and Congress and the Administration
could modify any agreement in the future. Even assuming that at least $2.1
trillion of the spending reductions the act envisages are implemented, we
maintain our view that the U.S. net general government debt burden (all levels
of government combined, excluding liquid financial assets) will likely continue
to grow. Under our revised base case fiscal scenario--which we consider to be
consistent with a 'AA+' long-term rating and a negative outlook--we now project
that net general government debt would rise from an estimated 74% of GDP by the
end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of
sovereign indebtedness is high in relation to those of peer credits and, as
noted, would continue to rise under the act's revised policy settings.
Compared with previous
projections, our revised base case scenario now assumes that the 2001 and 2003
tax cuts, due to expire by the end of 2012, remain in place. We have changed
our assumption on this because the majority of Republicans in Congress continue
to resist any measure that would raise revenues, a position we believe Congress
reinforced by passing the act. Key macroeconomic assumptions in the base case
scenario include trend real GDP growth of 3% and consumer price inflation near
2% annually over the decade.
Our revised upside
scenario--which, other things being equal, we view as consistent with the
outlook on the 'AA+' long-term rating being revised to stable--retains these
same macroeconomic assumptions. In addition, it incorporates $950 billion of
new revenues on the assumption that the 2001 and 2003 tax cuts for high earners
lapse from 2013 onwards, as the Administration is advocating. In this scenario,
we project that the net general government debt would rise from an estimated
74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
Our revised downside
scenario--which, other things being equal, we view as being consistent with a
possible further downgrade to a 'AA' long-term rating--features less-favorable
macroeconomic assumptions, as outlined below and also assumes that the second
round of spending cuts (at least $1.2 trillion) that the act calls for does not
occur. This scenario also assumes somewhat higher nominal interest rates for
U.S. Treasuries. We still believe that the role of the U.S. dollar as the key
reserve currency confers a government funding advantage, one that could change
only slowly over time, and that Fed policy might lean toward continued loose
monetary policy at a time of fiscal tightening. Nonetheless, it is possible
that interest rates could rise if investors re-price relative risks. As a
result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in
10-year bond yields relative to the base and upside cases from 2013 onwards. In
this scenario, we project the net public debt burden would rise from 74% of GDP
in 2011 to 90% in 2015 and to 101% by 2021.
Our revised scenarios
also take into account the significant negative revisions to historical GDP
data that the Bureau of Economic Analysis announced on July 29. From our
perspective, the effect of these revisions underscores two related points when
evaluating the likely debt trajectory of the U.S. government. First, the
revisions show that the recent recession was deeper than previously assumed, so
the GDP this year is lower than previously thought in both nominal and real
terms. Consequently, the debt burden is slightly higher. Second, the revised
data highlight the sub-par path of the current economic recovery when compared
with rebounds following previous post-war recessions. We believe the sluggish
pace of the current economic recovery could be consistent with the experiences
of countries that have had financial crises in which the slow process of debt
deleveraging in the private sector leads to a persistent drag on demand. As a
result, our downside case scenario assumes relatively modest real trend GDP
growth of 2.5% and inflation of near 1.5% annually going forward.
When comparing the U.S.
to sovereigns with 'AAA' long-term ratings that we view as relevant
peers--Canada, France, Germany, and the U.K.--we also observe, based on our
base case scenarios for each, that the trajectory of the U.S.'s net public debt
is diverging from the others. Including the U.S., we estimate that these five
sovereigns will have net general government debt to GDP ratios this year
ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%.
By 2015, we project that their net public debt to GDP ratios will range between
30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at
79%. However, in contrast with the U.S., we project that the net public debt
burdens of these other sovereigns will begin to decline, either before or by
2015.
Standard & Poor's
transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment
reflects our view of the likelihood of the sovereign restricting other public
and private issuers' access to foreign exchange needed to meet debt service.
Although in our view the credit standing of the U.S. government has
deteriorated modestly, we see little indication that official interference of
this kind is entering onto the policy agenda of either Congress or the
Administration. Consequently, we continue to view this risk as being highly
remote.
The outlook on the
long-term rating is negative. As our downside alternate fiscal scenario
illustrates, a higher public debt trajectory than we currently assume could
lead us to lower the long-term rating again. On the other hand, as our upside
scenario highlights, if the recommendations of the Congressional Joint Select
Committee on Deficit Reduction--independently or coupled with other
initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high
earners--lead to fiscal consolidation measures beyond the minimum mandated, and
we believe they are likely to slow the deterioration of the government's debt
dynamics, the long-term rating could stabilize at 'AA+'.
On Monday, we will
issue separate releases concerning affected ratings in the funds,
government-related entities, financial institutions, insurance, public finance,
and structured finance sectors.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.10 |
|
UK Pound |
1 |
Rs.81.30 |
|
Euro |
1 |
Rs.70.07 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.