MIRA INFORM REPORT
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Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
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Name : |
ALENDEL FABRICS LIMITED |
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Registered Office : |
274 Edgeley Blvd., Concord, ON L4K 3Y4 |
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Country : |
Canada |
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Year of Establishment : |
1981 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale Converters, and Distributors of Fine Distinctive Drapery Fabrics |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 110,000 |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Canada |
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 - CANADA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD 100 = CAD 98.62 |
IDENTIFICATION
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Ordered as: |
Alendel Fabrics Limited |
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Address in the order: |
274, Edgeley Blvd Concord Ontarto L4K 3Y4 Ontario |
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Legal Name: |
ALENDEL FABRICS LIMITED |
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Legal Address |
274 Edgeley Blvd., Concord, ON L4K 3Y4 Canada. |
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Telephone: |
905-669-1998 |
ID : |
NA |
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Fax: |
905-669-8828 |
Legal Form: |
Limited Company |
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Email: |
Registered in: |
Canada |
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Website: |
Date Created: |
1981 |
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Manager: |
PETER LOCURTO, PRESIDENT |
Date Incorporated: |
1981 |
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Staff: |
21 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Wholesale Converters, and Distributors of Fine Distinctive Drapery
Fabrics |
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BANKS
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Name of the Bank |
TD Bank |
BUSINESS
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HISTORY |
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The company was founded in 1981. |
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PRINCIPAL ACTIVITY |
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Wholesale distributor and converter of exclusive decorative fabrics
for drapery, upholstery and bedding. |
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Products/Services description: |
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Textiles & Architectural Fabrics |
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Sales are: |
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Wholesale |
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Operations area: |
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National |
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Trade References: |
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Despěte our eforts we were unable to confirm any trade reference for
this copany. |
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The subject employs 21 employee(s) |
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PAYMENTS |
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regular |
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Comments on location: |
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Single location |
Shareholders - Manager - Related Companies
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Shareholders
Parent Company(ies): |
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PETER LOCURO is the main shareholder of this company. |
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Management: |
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President & Board Member
Peter Locurto Vice President & Board Member Mary Anne Locurto |
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 |
7,500,000 |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
7,200,000 |
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Net Income |
280,000 |
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Net worth |
2,000,000 |
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The cash flow is |
normal |
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Legal Fillings |
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The
sources consulted record no detrimental legal or labor court information. |
Rating
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Local credit bureau gave a correct credit
rate. |
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Final Opinion |
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Alendel Fabrics Limited is a small
Canadian company with 21 employees. The company was created in 1981, therefore
it has 30 years of operations. The company is a wholesaler and
manufacturer of Drapery Fabrics. The company’s turnover is good for its
size. We suggest monitoring of payments for the
length of debt to review the company’s evolution. We suggest a credit line of USD 110,000. |
SUMMARY
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
NORMAL |
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APPENDIX
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Comments |
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The lady contacted confirmed the location of the company. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.10 |
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UK Pound |
1 |
Rs.74.64 |
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Euro |
1 |
Rs.64.42 |
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.