MIRA
INFORM REPORT
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Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
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Name : |
KURZ TRANSFER PRODUCTS, LP |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1892 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Engages in the production and supply of hot and cold stamping foils.
Its foils are used in various products, including packaging, greeting cards |
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No. of Employees : |
180 |
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 Limited |
USD 500,000= |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
United States - ECONOMIC OVERVIEW
The
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Source
: CIA |
Company name
KURZ TRANSFER PRODUCTS, LP
Address:
Telephone: +1
704-927-37000
Fax: +1
704-927-3701
Website: www.kurzusa.com
Corporate ID#: 0732993
State:
Judicial form: Limited
Partnership
Date incorporated: February 1, 2005
Date founded: 1892
Stock Value: A LP has no stock
Name of manager: Drew BARINGER
ACTIVITIES
& OPERATIONS
Business:
Kurz Transfer Products L.P. engages in the
production and supply of hot and cold stamping foils. Its foils are used in
various products, including packaging, greeting cards, electronic devices,
household appliances, cosmetics, textiles, furniture, automotive parts, and
security documents.
The company also offers stamping tools and
machines. Its products are used in graphics industry, cold foils, government ID
documents, plastic decoration, cosmetics, thermal transfer ribbons, coding
foils, brand protection, card and ticket technology, mobile phones, automotive,
wood, stamping machines, hot stamping tools, and specialty products
applications.
The company sells its products through
distributors in the
Kurz Transfer Products L.P. was founded in
1892 and is based in
The group has production facilities in
Europe, the
Suppliers include:
PT. ADI JAYA
KP. CADAS RT.005, RW 002, TANGERANG BANTEN
SENCO (EUROPE) GMBH
Wilhelm-klepsch-strasse 2, 5721 Piesendorf
EIN: 23-2677477
Staff: 180
Operations & branches:
At the headquarters, we find a factory, warehouse and office, owned.
The Company maintains sales branches located:
4939
SHAREHOLDERS & MANAGERS
Shareholders:
KURZ CHARLOTTE INC.
Incorporated in
ID# 2286621
Holding Company
Which is a wholly owned subsidiary of:
LEONHARD KURZ Stiftung & Co. KG
Schwabacher Straße 482
90763 Fuerth -
Ph: +49 911 7141 0
Fx: +49 911 7141 357
Management:
Drew BARINGER is the COO
Graduate from the
Thomas HERTLEIN is the CFO.
As far as we know, they are involved in the
parent Company.
Subsidiaries
And partnership: None
FINANCIALS
In
On a direct call, a financial assistant controlled the present report.
Outside sources (bank) gave estimate sales for year 2011 in the range of
USD 28,000,000=
The business is profitable.
Banks: Bank of
...
LEGAL FILINGS
Legal filings & complaints:
As of today date, there is no legal filing
pending with the Courts.
Secured debts summary (UCC):
File number: 20060080112A
Date filed: 08-16-2006
Lapse date: 08-16-2016
Secured Party: NMHG Financial Services, Inc.
File number: 20070051991F
Date filed: 05-25-2007
Lapse date: 05-27-2017
Secured Party: NMHG Financial Services, Inc.
File number: 20070071117H
Date filed: 07-25-2007
Lapse date: 07-25-2017
Secured Party: NMHG Financial Services, Inc.
File number: 20070076218E
Date filed: 08-08-2007
Lapse date: 08-08-2017
Secured Party: NMHG Financial Services, Inc.
Haut du formulaire
COMPANY
CREDIT HISTORY
Trade references:
Date reported: October 2012
High credit: USD 15,000
Now owing: 0
Past due: 0
Last purchase: September 2012
Line of business: Office
supply
Paying status: On terms
Date reported: October 2012
High credit: USD 250,000+
Now owing: 0
Past due: 0
Last purchase: September 2012
Line of business: Payroll
Paying status: As agreed
Date reported: October 2012
High credit: USD 1,000
Now owing: 0
Past due: 0
Last purchase: September 2012
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history appears as follow:
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Monthly
Payment Trends - Recent Activity |
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National Credit Bureaus gave a correct credit rating.
According to our credit analysts, during the
last 6 months, 93% of trade experience indicates a regular payment.
International
credit history:
Payments of imports are currently made with
an average of 2 days beyond terms.
Other comments:
The Company maintains a regular business.
The bank confirmed a correct credit history.
The Company is in good standing.
This means that all local and federal taxes were paid on due date.
Last report was filed on January 5, 2012.
The risk is low.
Our opinion:
A business connection may be conducted.
Credit requested: Maximum
Credit limit: USD 500,000=
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
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
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
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
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+'.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.34 |
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|
1 |
Rs.88.29 |
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Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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.