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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
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Name : |
PARAGON INDUSTRIES, INC. |
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Registered Office : |
4285 N. Golden State Blvd, Fresno, CA 93722 |
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Country : |
United States |
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Year of Incorporation : |
1948 |
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Legal Form : |
Corporation
– Profit |
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Line of Business : |
Importer and distributor of ceramic tiles, natural stones and setting materials. |
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No. of Employees : |
300 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the largest and most technologically powerful
economy in the world, with a per capita GDP of $49,800. In this market-oriented
economy, private individuals and business firms make most of the decisions, and
the federal and state governments buy needed goods and services predominantly
in the private marketplace. US business firms enjoy greater flexibility than
their counterparts in Western Europe and Japan in decisions to expand capital
plant, to lay off surplus workers, and to develop new products. At the same
time, they face higher barriers to enter their rivals' home markets than
foreign firms face entering US markets. US firms are at or near the forefront
in technological advances, especially in computers and in medical, aerospace,
and military equipment; their advantage has narrowed since the end of World War
II. The onrush of technology largely explains the gradual development of a
"two-tier labor market" in which those at the bottom lack the
education and the professional/technical skills of those at the top and, more
and more, fail to get comparable pay raises, health insurance coverage, and
other benefits. Since 1975, practically all the gains in household income have
gone to the top 20% of households. Since 1996, dividends and capital gains have
grown faster than wages or any other category of after-tax income. Imported oil
accounts for nearly 55% of US consumption. Crude oil prices doubled between
2001 and 2006, the year home prices peaked; higher gasoline prices ate into
consumers' budgets and many individuals fell behind in their mortgage payments.
Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures
more than doubled in the same period. Besides dampening the housing market,
soaring oil prices caused a drop in the value of the dollar and a deterioration
in the US merchandise trade deficit, which peaked at $840 billion in 2008. The
sub-prime mortgage crisis, falling home prices, investment bank failures, tight
credit, and the global economic downturn pushed the United States into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, in October 2008 the US Congress established a $700
billion Troubled Asset Relief Program (TARP). The government used some of these
funds to purchase equity in US banks and industrial corporations, much of which
had been returned to the government by early 2011. In January 2009 the US
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012 the federal government reduced the growth of spending
and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required
major shifts in national resources from civilian to military purposes and
contributed to the growth of the budget deficit and public debt. Through 2011,
the direct costs of the wars totaled nearly $900 billion, according to US
government figures. US revenues from taxes and other sources are lower, as a
percentage of GDP, than those of most other countries. In March 2010, President
OBAMA signed into law the Patient Protection and Affordable Care Act, a health
insurance reform that will extend coverage to an additional 32 million American
citizens by 2016, through private health insurance for the general population
and Medicaid for the impoverished. Total spending on health care - public plus
private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the
president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act,
a law designed to promote financial stability by protecting consumers from
financial abuses, ending taxpayer bailouts of financial firms, dealing with
troubled banks that are "too big to fail," and improving
accountability and transparency in the financial system - in particular, by
requiring certain financial derivatives to be traded in markets that are
subject to government regulation and oversight. In December 2012, the Federal
Reserve Board announced plans to purchase $85 billion per month of mortgage-backed
and Treasury securities in an effort to hold down long-term interest rates, and
to keep short term rates near zero until unemployment drops to 6.5% from the
December rate of 7.8%, or until inflation rises above 2.5%. Long-term problems
include stagnation of wages for lower-income families, inadequate investment in
deteriorating infrastructure, rapidly rising medical and pension costs of an
aging population, energy shortages, and sizable current account and budget
deficits - including significant budget shortages for state governments.
Source
: CIA
BEDROSIANS TILE & STONE
This is a business name used by:
Company name: PARAGON INDUSTRIES, INC.
Address: 4285 N. Golden State Blvd, Fresno,
CA 93722 - USA
Telephone: +1
559-275-5000
Fax: +1 559-275-1753
Website: www.bedrosianstile.com
Corporate ID#: C0722371
State: California
Judicial form: Corporation – Profit
Date incorporated: 09-18-1974
Date founded: 1948
Stock: -
Value: -
Name of manager: Larry
E. BEBROSIAN
Business:
The Company is using the following fictitious name:
- BEDROSIANS
Incorporated in California on July
10, 2008 under ID# 20086161599
- ALYSEDWARDS TILE & STONE
Incorporated on January 28,
2010, under ID# 20106219019
Founded in 1948, the Company is an importer and distributor of ceramic
tiles, natural stones and setting materials.
It has operations 31 locations throughout California, Arizona, Colorado,
Nevada, Washington, Florida and Utah.
The company offers a variety of natural stone tiles, including marble,
slate, granite, limestone and quartzite. Bedrosians Tile & Marble also
provides a range of setting materials that includes cement and lime, organic
mastic, thin set and glass block mortars, epoxy and grouts.
In addition, it offers cement- and gypsum-based baker boards.
The company also has an online segment that provides information regarding
the maintenance of tiles and natural stones.
Bedrosians Tile & Marble offers products from various manufacturers,
such as American Marazzi, Cerdomus Ceramics, Glaze 'N Seal, Laticrete and NAC
Products.
EIN: 94-8860633
Staff: 300
Operations & branches:
At above address, we find main showroom, warehouse and office, on
65,000 sq. feet, owned.
The Company operates 31 locations throughout California, Arizona,
Colorado, Nevada, Washington, Florida and Utah.
Shareholders:
This is a family owned and managed company.
Management:
Larry E. BEDROSIAN is the President & CEO.
Born in 1952.
Gary BEDROSIAN is Vice President
Born in 1950
Janice BEDROSIAN is Secretary and CFO.
Born in 1954
Linda BEDROSIAN is Treasurer.
Born in 1955
Subsidiaries &
Partnership: None
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
Outside sources (bank) gave
estimate sales for year 2012 in the range of
USD 70,000,000=
The business is profitable.
Banks: Bank of America
Wells Fargo Bank
Legal filings & complaints:
As of today date, there is no legal filing pending with the District
Courts.
Secured debts summary (UCC):
Numerous files listed in California
Trade references:
Date reported: March 2013
High credit: USD 50,000
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Office supply
Paying status: On terms
Date reported: March 2013
High credit: USD 600,000+
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Payroll
Paying status: As agreed
Date reported: March 2013
High credit: USD 8,000
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
National Credit Bureaus
gave a satisfying credit rating.
International credit history:
Payments of imports are currently made on beyond terms.
Other comments:
The Company maintains its
business.
The bank confirmed a
regular account.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
<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.