MIRA INFORM REPORT
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Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
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Name : |
ENESCO LLC |
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Registered Office : |
225 Windsor Dr, Itasca, IL, 60143-1225 |
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Country : |
United States |
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Date of Incorporation : |
1937 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale distribution of non-durable goods |
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No. of Employees : |
1,182 |
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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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 and address
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Enesco LLC |
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Employees:
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1,182
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Company
Type: |
Private
Subsidiary |
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Corporate
Family: |
17
Companies |
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Ultimate
Parent: |
Tinicum
Enterprises |
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Incorporation
Date: |
1937
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Reporting
Currency: |
US
Dollar |
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Annual
Sales: |
244.4
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Total
Assets: |
NA |
Business Description
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Founded in 1958, Enesco is one
of the leading providers of giftware and home and garden decoration products in
the world. It serves more than 44,000 customers and sells products through a
network of specialty card, gift and direct mail retailers, as well as
boutiques and mass market chains. The company also operates subsidiaries in
the United Kingdom, France, Canada and Hong Kong. Enesco sells its products
under various brands, such as Heartwood Creek, Foundations, Our Name is Mud,
Boyds, Circle of Love, Country Artists, Walt Disney Classics Collection,
Disney Traditions, Disney, Border Fine Arts, Cherished Teddies and Lilliput
Lane. The company provides online shopping options. |
Industry
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Industry |
Miscellaneous
Capital Goods |
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ANZSIC
2006: |
3739
- Other Goods Wholesaling Not Elsewhere Classified |
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NACE
2002: |
5147
- Wholesale of other household goods |
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NAICS
2002: |
42399
- Other Miscellaneous Durable Goods Merchant Wholesalers |
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UK
SIC 2003: |
5147
- Wholesale of other household goods |
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US
SIC 1987: |
5099
- Durable Goods, Not Elsewhere Classified |
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News |
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Profit & Loss Item Exchange Rate: USD 1 = USD 1
Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
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Incorporation Date: |
1937 |
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Company Type: |
Private
Subsidiary |
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Quoted Status: |
Not
Quoted |
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President: |
Basil
Elliot |
Industry Codes
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Business Description
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More Business Descriptions
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Brand/Trade Names
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Financial Data
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Additional Information
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ABI Number: |
007535180 |
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Phone: |
630-875-5300 |
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Fax: |
630-875-5350 |
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URL: |
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ABI©: |
007535180 |
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Annual Sales: |
$244,434,000 (USD) |
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Employees: |
1,182 |
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Facility Size(ft2): |
40,000+ |
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Business Type: |
Private |
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Location Type: |
Headquarter |
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Primary Line of Business: |
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SIC: |
5199-10 |
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NAICS: |
424990 - Other Nondurable
Goods Merchant Whols |
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Secondary Lines of Business: |
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NAICS: |
423990 - All Other Durable
Goods Merchant Whols |
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SICs: |
5099-05 - |
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8742-13 - |
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541613 - Marketing Consulting
Svcs |
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Corporate Structure News: |
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Enesco LLC |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Tinicum Enterprises |
Parent |
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Tinicum Capital Partners, LP |
Subsidiary |
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Subsidiary |
Itasca, IL |
United States |
Miscellaneous Capital Goods |
244.4 |
1,182 |
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Subsidiary |
Itasca, IL |
United States |
Miscellaneous Capital Goods |
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250 |
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Subsidiary |
Mississauga, ON |
Canada |
Retail (Specialty) |
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110 |
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Subsidiary |
Itasca, IL |
United States |
Retail (Specialty) |
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160 |
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Subsidiary |
Edison, NJ |
United States |
Recreational Products |
23.9 |
100 |
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Subsidiary |
Markham, ON |
Canada |
Personal and Household Products |
41.4 |
50 |
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Subsidiary |
Irvine, CA |
United States |
Retail (Specialty) |
3.0 |
25 |
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Affiliates |
Doylestown, PA |
United States |
Miscellaneous Fabricated Products |
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400 |
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Branch |
Winston Salem, NC |
United States |
Engineering Consultants |
50.3 |
243 |
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Marketing
Weekly News: 23 February 2012
[What follows is the full text of the news story.]
Enesco, LLC, the leading global designer, producer and marketer
of branded giftware, home and garden decor, announced that Susan Azar has been
named President of Department 56, a wholly-owned subsidiary of Enesco.
Commenting on Ms. Azar's appointment, Thomas G. Bowles,
Chief Executive Officer of Enesco said, "Sue's breadth of knowledge of the
gift industry, her vast experience both at the retail and supplier level along
with her strong leadership skills have led Department 56 to be the successful
company they are. There is no question that her dedication and determination to
make Department 56 a leader in the industry has led her team to success. I
cannot think of anyone else that is better suited to lead the company forward
in its continuing growth path than Sue. She is an asset to our entire
Company."
Expressing her enthusiasm, Ms. Azar added, "I am very
excited about the team of talented people we have built at Department 56. The
vision, creativeness and artistry we possess together with the ability to
implement those ideas into making high quality gifts and collectibles for our
loyal and valuable customers, make Department 56 one of the finest companies in
our industry. I look forward to the opportunity of continuing to lead
Department 56 into the future."
Ms. Azar, a graduate of the University of Wisconsin with a
Bachelor of Science in Retailing, began her career with Dayton-Hudson-Marshall
Fields, where she held a variety of merchandising roles in the Tabletop and
Gift areas. After approximately 20 years, Ms. Azar joined Lenox Corporation, a
supplier of fine china as Vice President of Sales, which was subsequently
purchased by Department 56. At Department 56, Ms. Azar held leadership roles in
both sales and marketing. When Enesco purchased Department 56 in 2009, Sue's
leadership was instrumental in guiding the Company through the transition and
onto the revitalization of Department 56 as the premier brand and leader in its
space. Prior to being named President of Department 56, Ms. Azar held the
position of General Manager.
Business
Wire: 13 February 2012
[What follows is the full text of the news story.]
ITASCA, Ill.--(BUSINESS WIRE)-- Enesco, LLC, the leading
global designer, producer and marketer of branded giftware, home and garden
d�cor, announced today that Susan Azar has been named President of Department
56, a wholly-owned subsidiary of Enesco.
Commenting on Ms. Azar�s appointment, Thomas G. Bowles,
Chief Executive Officer of Enesco said, �Sue�s breadth of knowledge of the
gift industry, her vast experience both at the retail and supplier level along
with her strong leadership skills have led Department 56 to be the successful
company they are. There is no question that her dedication and determination to
make Department 56 a leader in the industry has led her team to success. I
cannot think of anyone else that is better suited to lead the company forward
in its continuing growth path than Sue. She is an asset to our entire
Company.�
Expressing her enthusiasm, Ms. Azar added, �I am very
excited about the team of talented people we have built at Department 56. The
vision, creativeness and artistry we possess together with the ability to
implement those ideas into making high quality gifts and collectibles for our
loyal and valuable customers, make Department 56 one of the finest companies in
our industry. I look forward to the opportunity of continuing to lead
Department 56 into the future.�
Ms. Azar, a graduate of the University of Wisconsin with a
Bachelor of Science in Retailing, began her career with Dayton-Hudson-Marshall
Fields, where she held a variety of merchandising roles in the Tabletop and
Gift areas. After approximately 20 years, Ms. Azar joined Lenox Corporation, a
supplier of fine china as Vice President of Sales, which was subsequently
purchased by Department 56. At Department 56, Ms. Azar held leadership roles in
both sales and marketing. When Enesco purchased Department 56 in 2009, Sue�s
leadership was instrumental in guiding the Company through the transition and
onto the revitalization of Department 56 as the premier brand and leader in its
space. Prior to being named President of Department 56, Ms. Azar held the
position of General Manager.
About Enesco, LLC
Enesco, LLC is a global leader in the giftware and home and
garden d�cor industries serving more than 30,000 customers worldwide.
Enesco�s products include some of the world�s most recognizable brands in
its trading space including: Department 56 Villages, The Grinch, Peanuts,
Disney, Dr. Seuss, Snowbabies, Possible Dreams, Gund Teddy Bears, Sesame
Street, Boyd�s Bears, Jim Shore�s Disney Traditions and many others. Enesco
distributes its products to a wide variety of specialty card and gift
retailers, home d�cor boutiques, department stores as well as large national
chains and direct mail retailers. For more information, visit www.Enesco.com.
About Department 56
Department 56 is a wholly owned subsidiary of Enesco, LLC
specializing in collectibles, giftware and holiday home d�cor. The company is
based in Eden Prairie, Minnesota. Department 56 products can be found in more
than 4,000 retail outlets including gift, specialty, floral, toy, book and
department stores. For more information, visit www.Department56.com.
Enesco, LLC
Doris Bernar, (630) 875-5524
dbernar@enesco.com
LexisNexis:
13 February 2012
[What follows is the full text of the news story.]
Itasca, IL - An executive change event has been reported at
Enesco, LLC of Itasca, IL. Susan Azar, Gen Mgr-Department 56 has been named
Pres-Department 56.
POLLAY
Post-Standard (Syracuse, NY): 20 November 2011
[What follows is the full text of the news story.]
Kathy (Littlefield) Pollay
November 16, 2011
Kathy Littlefield Pollay, 65, retired in 2008 from Enesco as
a sales consultant. Celebration of her life will be in the spring.
Contributions: Kathy Pollay Alumni Ambassador Program Endowment, SUNY
Cobleskill Alumni Association, 211 Knapp Hall Cobleskill, NY 12043.
About GUND�:
GUND, a division of Enesco, LLC, is known worldwide for its
top quality, soft and huggable plush designs and gift products. Award-winning
GUND products appeal to all ages, from infants up, and are perfect for both
play and collecting. The 113-year old company is based in Edison, New Jersey,
and distributes throughout the United States and Canada as well as in Europe,
Japan, Australia and South America. GUND products may be found in gift,
specialty, toy, book, museum and department stores and many other retail
outlets. To find your nearest retailer, visit www.gund.com.
About Enesco, LLC:
Enesco, LLC, is a global leader in the giftware and home and
garden d�cor industries. Serving more than 44,000 customers worldwide, Enesco
distributes products to a wide variety of specialty card and gift retailers,
home d�cor boutiques, mass-market chains and direct mail retailers. With
subsidiaries in the United Kingdom, France, Canada and Hong Kong, Enesco serves
markets operating in Europe, the Americas, Australia and Asia. The company�s
product lines include some of the world�s most recognized brands including
Heartwood Creek� by Jim Shore, Foundations�, Our Name is Mud�, Gund�,
Boyds�, Department 56� Villages, Country Artists�, Walt Disney Classics
Collection�, Disney Traditions�, Border Fine Arts�, Cherished Teddies�,
The Trail of Painted Ponies�, and Lilliput Lane, among others. Further
information is available on the company�s Web site at www.enesco.com.
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Enesco Promotes Susan Azar to
President of Department 56 |
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Professional
Services Close-Up |
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[What follows is the full text of the article.] Enesco, a designer, producer and marketer of branded
giftware, home and garden decor, announced that Susan Azar has been named
President of Department 56, a wholly-owned subsidiary of Enesco. Commenting on Azar's appointment, Thomas G. Bowles, Chief
Executive Officer of Enesco said, "Sue's breadth of knowledge of the
gift industry, her vast experience both at the retail and supplier level
along with her strong leadership skills have led Department 56 to be the
successful company they are. There is no question that her dedication and
determination to make Department 56 a leader in the industry has led her team
to success. I cannot think of anyone else that is better suited to lead the
company forward in its continuing growth path than Sue. She is an asset to
our entire Company." Azar added, "I am very excited about the team of
talented people we have built at Department 56. The vision, creativeness and
artistry we possess together with the ability to implement those ideas into
making high quality gifts and collectibles for our loyal and valuable
customers, make Department 56 one of the finest companies in our industry. I
look forward to the opportunity of continuing to lead Department 56 into the
future." In a release, the Company said that Azar began her career
with Dayton-Hudson-Marshall Fields, where she held a variety of merchandising
roles in the Tabletop and Gift areas. After approximately 20 years, Azar
joined Lenox Corp., a supplier of fine china as Vice President of Sales,
which was subsequently purchased by Department 56. At Department 56, Azar
held leadership roles in both sales and marketing. When Enesco purchased
Department 56 in 2009, Sue's leadership was instrumental in guiding the
Company through the transition and onto the revitalization of Department 56
as the premier brand and leader in its space. Prior to being named President
of Department 56, Azar held the position of General Manager. ((Comments on this story may be sent to
health@closeupmedia.com)) |
Standard & Poor’s
|
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.55.38 |
|
|
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.69.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.