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Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
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Name : |
ABALINE PAPER PRODUCTS INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30.11.1980 |
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Com. Reg. No.: |
660605 |
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Legal Form : |
Corporation |
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Line of Business : |
Wholesalers of Service Papers. |
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No. of Employees : |
20 |
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 |
Be |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
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Verified |
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Company Name: |
Abaline Paper Products Inc |
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Address: |
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City: |
Port |
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State/province: |
NJ |
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Zip/postal code: |
07064 |
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Country: |
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Telephone: |
+1 (732) 582-0200 |
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Remarks: |
Trade Name Abaline Supply |
Current Credit Limit: $100,000 USD
Current Credit Observation:
Thers is no
Immediate Risk in doing Business with this company
Analysis
·
Well Established
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Positive Payment Trend
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No Derogatory Items on Record.
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Capital Stock: |
100% by officers |
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Business Structure: |
Corporation |
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Business Started: |
1980 |
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Management Control: |
1980 |
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Whole sales of service papers |
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Date registered: |
Novemeber 30 1980 |
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Legal form: |
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Registration no: |
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Jurisdiction |
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Registry status: |
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20 |
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Name & Title: |
Abraham Jeremias, President |
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Name & Title: |
Chaya jeremias, V President |
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Name & Title:
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Miriam Weisz, Secretary |
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Trade Payment Experience |
Date Reported March 2012 High Credit : 65,000 Now Owing : 30,000 Terms : Net 30 Days Past Due 1-30 days – Zero Past Due 31-60 days – Zero Past Due 61-90 days – Zero Payments Made: As Agreed Date Reported March 2012 High Credit : 10,000 Now Owing : Zero Terms : Net 30 Days Past Due 1-30 days – Zero Past Due 31-60 days – Zero Past Due 61-90 days – Zero Payments Made: As Agreed Date Reported February 2012 High Credit : 90,000 Now Owing : 40,000 Terms : Net 30 Days Past Due 1-30 days – Zero Past Due 31-60 days – Zero Past Due 61-90 days – Zero Payments Made: As Agreed |
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Payment Behaviour: |
Business Demonstrates Positive Payment Trend |
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Payment Behaviour: |
Standard
& Poor’s
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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.
The transfer and convertibility (T&C)
assessment of the
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
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
The political brinksmanship of recent months
highlights what we see as
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
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
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
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
Standard & Poor's transfer T&C assessment of the
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.49 |
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1 |
Rs.84.66 |
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Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
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Report Prepared
by : |
NIT |
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.