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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ALENDEL FABRICS LIMITED |
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Registered Office : |
274 Edgeley Blvd, Concord, Ontario L4K 3Y4 |
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Country : |
Canada |
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Date of Incorporation : |
21.10.1981 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Importer and wholesaler of decorative fabrics, linings and designer
drapery hardware. |
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No. of Employees : |
10 |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Canada |
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 |
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 economic crisis, 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 2010-12
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
Company name: ALENDEL FABRICS LIMITED
Address: 274 Edgeley Blvd, Concord, Ontario
L4K 3Y4 - Canada
Telephone: +1
905-669-1998
Fax: +1 905-669-8828
Website: www.alendel.com
Corporate ID#: 1225201
State: Federal
Judicial form: Federal Corporation – Profit
A
Federal Corporation is allowed to do business in all the Country.
Date incorporated: 10-21-1981
Stock: -
Value: -
Name of manager: Pietro
LOCURTO
Business:
The Company is importer and wholesaler of decorative fabrics, linings
and designer drapery hardware.
Imports mainly from India and China.
Staff: 10
Operations & branches:
At the headquarters, we
find the corporate office and showroom.
Shareholders:
This is a family owned and
managed company.
Management:
Pietro LOCURTO is the President, Director and CEO
Maria LOCURTO is Director.
As far as we know, they are not involved in other local corporations.
Subsidiaries and
partnership:
None
In Canada, 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.
We sent a fax but no answer
received.
However, sales estimate for
fiscal year ending October 2012 is in the range of CAD 5,000,000=
The business is profitable.
Banks: Scotia Bank
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Top of Form
Trade references:
Date reported: March 2013
High credit: CAD 2,000
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: CAD 15,000+
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Payroll
Paying status: As agreed
Date reported: March 2013
High credit: CAD 600
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 terms.
Other comments:
The Company maintains a
regular business.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
08-13-2012.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
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|
1 |
Rs.70.50 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
|
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.