|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ABS GLOBAL, INC. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1941 |
|
|
|
|
Legal Form : |
Corporation – Profit |
|
|
|
|
Line of Business : |
Subject provides bovine genetics, reproduction services, technologies,
and udder care products. |
|
|
|
|
No. of Employees : |
215 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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) |
|
|
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
|
Source
: CIA |
Company name: ABS GLOBAL, INC.
Address:
Telephone: +1
608-846-2731
Fax: +1 608-846-6392
Website: www.absglobal.con
Corporate ID#: 3099414
State:
Judicial form: Corporation – Profit
Date incorporated: 09-21-1999
Date founded: 1941
Stock Value: USD
5,400,000=
Name of manager: Ian
BIGGS
Business:
ABS Global, Inc. provides bovine genetics, reproduction services,
technologies, and udder care products.
The company offers Cornerstone Progeny Test, which includes a sampling
program; Genetic Management System, a solution to maximize genetic progress and
simplify sire selection; Reproductive Management System to maximize pregnancy
production by providing heat detection, A.I. breeding, synchronization, and
data management services through professional technicians; and CowSigns, a
software product for dairy producers’ handheld PDA devices to record cow
observations. It also provides beef sires and beef programs, such as feed
efficiency, tenderness evaluation, and Pasture to Plate genetics and services
for beef producers.
The company’s udder care products include germicide that swiftly kills
mastitis causing organisms, and teats.
In addition, it offers breeding tools; progeny testing and process
verification programs for registered breeders and commercial producers; and
liquid nitrogen and nitrogen refrigerator maintenance services.
Further, the company engages in supply of meat and milk. It offers
solutions through representatives, agents, and distributors.
The company was founded in 1941 and is based in DeForest,
Name changed from GENUS, INC. on 11-20-2000.
It has operations in
On September 26, 2013, Afimilk and ABS Global are teaming up to market
the next generation of automatic heat detection solutions, AfiAct II.
The most accurate system of its type, AfiAct II uses long-range radio to
collect behavior data anywhere on the farm - from herds of any size - and
updates results at short intervals. Highly scalable and adaptable, the system
is available as a stand-alone solution, or integrated with Afimilk's farm and
milking parlor management system. AfiAct II is also web-accessible on any type
of device. Already, with the AfiAct heat detection system,
Suppliers include:
Abs
Avenida Seminario 188 Providencia Santiago
EIN: 51-0393574
Staff: 215
Operations & branches:
At the headquarters, we
find a large warehouse and office, owned.
Maintains several branches
in the
Shareholders:
GENUS PLC
Belvedere House, Basing View
The Company is listed with
the London Stock Exchange under symbol GNS.
Genus plc, together with its subsidiaries, is engaged in the application
of quantitative genetics and biotechnology to animal breeding in the dairy,
beef, and pork sectors worldwide.
Management:
Ian BIGGS is the President, Director and CEO
He has been Head of Global Product and Business Strategy of Genus plc
since February 2010.
Mr. Biggs has been President of ABS Global, Inc. since July 2000 and
serves as its Chief Executive Officer. Mr. Biggs served as Chief Operating
Officer of The Americas of Genus plc until February 2010. He has an extensive
background in biotechnology and business development. He served as the Chief
Operating Officer of Bovine Genetics of Genus PLC. Prior to joining Genus in
2000, he served with Roslin Bio Med. Before this, he worked for PIC (now
Sygen), first as Group Finance Director and later as Managing Director of their
European business and subsequently as President of its North American
operations.
Mr. Biggs served as Chief Financial Officer and Business Development
Director at Geron Bio Med, a
Mr. Biggs is a Graduate Chartered Accountant having qualified in 1982
with KPMG.
Jady grad is Vice President.
Previously, Mr. Grad worked at A.I. Industry.
He holds B.S. in Dairy Science from
Richard LECOUTRE is the CFO.
Subsidiaries
And partnership: Several
worldwide
In
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2012 is in the range of USD 20,000,000=
The business is said to be
profitable.
Banks: Wells Fargo Bank
Legal filings
& complaints:
State:
Case number: 13-cv-00716-L
Plaintiff: Rony Ridling
Defendant: ABS Global Inc
Tim Leonard, presiding
Date filed: 07/12/2013
Date of last filing: 10/23/2013
Cause: Contract
Secured
debts summary (UCC):
File number: 090015247017
Date filed: 12-31-2009
Lapse date: 12-31-2014
Secured Party: Donlen Trust
File number: 090003410410
Date filed: 03-16-2009
Lapse date: 03-16-2014
Secured Party: Donlen Trust
Haut du formulaire
Trade references:
Date reported: September 2013
High credit: USD 35,000
Now owing: 0
Past due: 0
Last purchase: August 2013
Line of business: Office supply
Paying status: 3 days beyond terms
Date reported: September 2013
High credit: USD 250,000
Now owing: 0
Past due: 0
Last purchase: August 2013
Line of business: Payroll
Paying status: As agreed
Date reported: September 2013
High credit: USD 1,200
Now owing: 0
Past due: 0
Last purchase: August 2013
Line of business: Telecommunications
Paying status: 2 days beyond terms
Domestic credit history:
Domestic credit history appears
as follow:
Monthly Payment Trends - Recent Activity
|
Date |
Up to 30 DBT |
31-60 DBT |
61-90 DBT |
>90 DBT |
||
|
05/13 |
$28,400 |
99% |
1% |
0% |
0% |
0% |
|
06/13 |
$38,600 |
87% |
12% |
1% |
0% |
0% |
|
07/13 |
$19,800 |
98% |
2% |
0% |
0% |
0% |
|
08/13 |
$36,300 |
76% |
4% |
20% |
0% |
0% |
|
09/13 |
$22,700 |
99% |
1% |
0% |
0% |
0% |
|
10/13 |
$27,000 |
95% |
5% |
0% |
0% |
0% |
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made with an average of 2 days beyond terms.
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.
The risk is low.
Our opinion:
A business connection may
be conducted.
Standard & Poor’s
|
|
|
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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.