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Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
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Name : |
FIDELITY PAC METALS LTD |
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Registered Office : |
1303 North Service Road East, Unit 1, Oakville, Ontario,
L6H 1A7, Canada. |
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Country : |
Canada |
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Date of Incorporation : |
1991 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and distributor of metal products. |
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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 |
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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Canada |
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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 |
CANADA - ECONOMIC OVERVIEW
As an affluent, high-tech industrial society in the trillion-dollar
class, Canada resembles the US in its market-oriented economic system, pattern
of production, and affluent living standards. Since World War II, the
impressive growth of the manufacturing, mining, and service sectors has
transformed the nation from a largely rural economy into one primarily
industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the
1994 North American Free Trade Agreement (NAFTA) (which includes Mexico)
touched off a dramatic increase in trade and economic integration with the US
its principal trading partner. Canada enjoys a substantial trade surplus with
the US, which absorbs about three-fourths of Canadian exports each year. Canada
is the US's largest foreign supplier of energy, including oil, gas, uranium,
and electric power. Given its great natural resources, highly skilled labor
force, and modern capital plant, Canada enjoyed solid economic growth from 1993
through 2007. Buffeted by the global economiccrisis, the economy dropped into a
sharp recession in the final months of 2008, and Ottawa posted its first fiscal
deficit in 2009 after 12 years of surplus. Canada''s major banks, however,
emerged from the financial crisis of 2008-09 among the strongest in the world,
owing to the financial sector''s tradition of conservative lending practices
and strong capitalization. Canada achieved marginal growth in 2010 and 2011 and
plans to balance the budget by 2015. In addition, the country''s petroleum
sector is rapidly becoming an even larger economic driver with Alberta''s oil
sands significantly boosting Canada''s proven oil reserves, ranking the country
third in the world behind Saudi Arabia and Venezuela.
Source
: CIA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: 100.00 CAD =
100.938 USD |
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Ordered as: |
Fidelity Pac Metals Ltd |
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Address in the order: |
1303 North Service Rd East Uhit 1 Oakville ON L6H 1A7 |
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Legal Name: |
FIDELITY PAC METALS LTD |
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Legal Address |
1303 North Service Road East, Unit 1, Oakville, Ontario,
L6H 1A7, Canada. |
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Operative Address |
1303 North Service Road East, Unit 1, Oakville, Ontario,
L6H 1A7, Canada. |
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Telephone: |
(905) 842-1700 |
Registration Number : |
N.A. |
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Fax: |
(905) 842-5802 |
Legal Form: |
Limited Company |
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Email: |
jennifer@fidelitystainless.com |
Registered in: |
Canada |
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Website: |
http://www.fidelitystainless.com |
Date Created: |
1991 |
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Manager: |
Tom Pope, President |
Date Incorporated: |
N.A. |
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Staff: |
20 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Importer and distributor of metal products. |
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Name of the Bank |
CIBC Bank |
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BUSINESS
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HISTORY |
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The company was established in 1991. The company was
previously named "Fidelity Stainless Ltd". The company merged with
its subsidiary "PAC PVF Trade Inc" during 2011. Then, the company
changed its name to "Fidelity PAC Metals Ltd) |
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PRINCIPAL ACTIVITY |
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The company engages as an importer and distibutor of metal
products. |
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Products/Services description: |
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The company offers: stainless steel long products,
stainless steel tube and aluminum extrusions, PVF products, including welded
and seamless pipe & tube, fittings, valves, and more. |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals in the metal handling industry. |
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Suppliers: |
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*Shinsei (Jiangyan) Steel Flanges Co., Ltd. (China) *Gloria Material Technology Corp. (Taiwan) *Parekh Bright Bars Pvt., Ltd (India) |
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Operations area: |
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International |
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The company imports from Worldwide, depending on the
demand |
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The company exports to the USA, sporadically. |
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The subject employs 20 employee(s) |
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PAYMENTS |
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made on a 60 days basis - monitored over the last 12
months |
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LOCATION |
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Headquarters |
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The company is headquartered at: 1303 North Service Road
East, Unit 1, Oakville, Ontario, L6H 1A7, Canada. |
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Surface area: |
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70,000 sq ft |
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Comments on location: |
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Office and warehouse space. |
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Branches: |
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The company does not operate any branches. |
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The company is privately held. Tom Pope (President) and
Mike Pope (V.P. of Operations) and investment company Covington Capital
purchased Fidelity, from Fidelity's Founder, in May 2007. |
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Management: |
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Tom Pope, President. email: tom@fidelitystainless.com Mike Pope, Vice President. email: mike@fidelitystainless.com |
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Related Companies: |
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*PAC PVF Trade Inc (merged subsidiary) |
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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. According to our financial sources, the company's annual
revenue is in a range between CAD $5 million to CAD $10 million. |
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Comments on the financial data: The
figures were not disclosed by the company. They were conciliated with our
private sources and from a particular analysis of the company´s structure. |
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Legal Filings |
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The sources consulted record no detrimental legal or labor
court information. |
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Local credit bureau gave a CORRECT credit rate. The company is in Good Standing. This means that all local
and federal taxes were paid on due date. |
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Final Opinion |
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The subject is a small sized Canadian distribution company
which has been operating for over 20 years. The company is active and operational. Its business structure is established. It operates a
70,000 sq. ft. warehouse facility in Ontario, Canada, and employs 20 people. The company is directly managed by its shareholders and is
a family operated business. The financial information indicates that it has a good
performance in the industry. |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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Person Interviewed |
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Ms. Jennifer |
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Position |
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Accounting Representative. |
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Comments |
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The contacted person verified all the information in the
report. However, she refused to provide financial data without knowing the
name of the inquiring party. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.89 |
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1 |
Rs.88.62 |
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Euro |
1 |
Rs.70.02 |
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 |
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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 |
-- |
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.