MIRA INFORM REPORT
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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
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Name : |
S.D.C. DESIGNS, LLC |
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Registered Office : |
529 5th Avenue, 16th floor, New York, NY 10017 |
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Country : |
United States |
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Date of Incorporation : |
29.01.2003 |
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Legal Form : |
LLC |
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Line of Business : |
Subject is engaged in retail diamonds, precious stones,
and related products |
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No. of Employees : |
15 |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
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
Company name and address
S.D.C. DESIGNS, LLC
Address: 529 5th Avenue, 16th floor, New York, NY 10017 - USA
Telephone: +1 212-599-4240
Fax: +1 212-599-4532
Website: -
Corporate ID#: 2862766
State: New York State
Judicial form: LLC
Date incorporated: 01-29-2003
Stock
Value: A LLC has no stock
Name of
manager: Abhay DJAVERI
ACTIVITIES &
OPERATIONS
Business:
Retail diamonds, precious stones, and related products
No name of foreign suppliers available.
EIN: -
Staff: 15 (for the group)
Operations
& branches:
At the
headquarters, we find the corporate office.
SHAREHOLDERS & MANAGERS
Shareholders:
This is a SAVERI family owned and managed company.
Management:
Abhay SAVERI is the President and CEO.
Dinesh SAVERI is a Manager.
As far as we know, they are involved in other corporations, including:
S.D.C. DESIGNS, INC.
529 5th Avenue, 16th floor, New York, NY 10017
Incorporated in New York on 01-14-1994
ID# 1787608
SANGAM DIAMONDS CORP.
576 5th Avenue, New York, NY 10017
Incorporated in New York on 09-16-1971
ID# 314615
FINANCIALS
In United
States, privately held corporations are not required to publish any financials.
On a direct
call, a sales assistant controlled the present report but deferred any
financials.
However, sales
estimate for year 2012 is in the range of USD 2,000,000=
The
business is said to be profitable.
Banks: Wells Fargo Bank
LEGAL FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
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Haut du formulaire
COMPANY CREDIT HISTORY
Trade
references:
Date
reported: August 2013
High
credit: USD 2,000
Now owing: 0
Past due: 0
Last
purchase: July 2013
Line of
business: Office supply
Paying
status: On terms
Date
reported: August 2013
High
credit: USD 25,000+
Now owing: 0
Past due: 0
Last
purchase: July 2013
Line of
business: Payroll
Paying
status: As agreed
Date
reported: August 2013
High
credit: USD 600
Now owing: 0
Past due: 0
Last
purchase: July 2013
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 satisfying credit rating.
International credit history:
Payments of imports are currently made on 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.36 |
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|
1 |
Rs.101.20 |
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Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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.