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Report Date : |
12.09.2013 |
IDENTIFICATION DETAILS
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Name : |
DONNA GORMAN INC |
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Registered Office : |
125 Main St. New Canaan 06840 |
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Country : |
United States |
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Date of Incorporation : |
13.08.1992 |
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Com. Reg. No.: |
0276415 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
The subject imports and distributes apparel, bags and other related
accessories. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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.
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Source
: CIA |
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IDENTIFICATION |
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Ordered as: |
SEE DESIGN |
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Address in the order: |
1115 WEED STREET NEW CANAAN CT 06840 USA |
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Comments on data supplied: |
Please note that the name provided in the order is an assumed name
which belongs to DONNA GORMAN INC. That is why we proceed on making the
report under that information. |
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Legal Name: |
DONNA GORMAN INC |
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Trade Name: |
SEE DESIGN |
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Legal Address |
125 MAIN ST. |
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Postal Town |
NEW CANAAN |
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Post Code |
06840 |
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Primary Geographic Area |
CONNECTICUT |
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Country |
US |
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Operative Address |
1115 Weed Street New Canaan, CT 06840 USA. |
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Telephone: |
+1 (203) 972-3685 |
Registration Number : |
0276415 |
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Fax: |
N.A. |
Legal Form: |
Corporation for Profit |
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Email: |
beth4seedesign@gmail.com |
Registered in: |
US |
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Website: |
www.seedesignshop.com / www.donnagormandesign.com |
Date Created: |
N.A. |
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Manager: |
Donna Gorman, President |
Date Incorporated: |
August 13th, 1992 |
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Staff: |
N.A. |
Stock: |
1 000 |
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Value: |
No par value |
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Activity: |
Distribution of apparel and other accessories. |
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Management: |
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Donna Gorman, President |
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Legal Fillings |
There are no UCC** files listed with the Secretary of State of
Connecticut.
There are no legal filings listed with the District Court.
THE COMPANY IS NOT LISTED ON THE OFAC LIST.*
For information:
* The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
** The Uniform Commercial Code (UCC) is one of a number of uniform acts
that have been promulgated in conjunction with efforts to harmonize the law of
sales and other commercial transactions in all 50 states within the United
States of America.
The UCC deals primarily with transactions involving personal property
(movable property), not real property (immovable property).
It allows a creditor to notify other creditors about a debtor’s assets
used as collateral for a secured transaction by filing a public notice
(financing statement) with a particular filing office.
The Uniform Commercial Code Bureau files and maintains on financial
obligations (including IRS liens) incurred by individuals (in business as a
sole proprietor), business entities and corporations.
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Public |
NO |
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Shareholders |
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Shareholders Parent Company(ies): |
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This is a privately held business. Ms. Donna Gorman would be the
company’s main shareholder. However, we were unable to confirm this information by the time we
called. |
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Payments |
REGULAR |
N/a
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Financials - COMMERCIAL TRENDS AND FORECAST |
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As a private company the subject does not publish any financial
statements. |
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We have contacted Donna Gorman, President who refused to provide us
any financial data on grounds of confidentiality. |
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Comments on the financial data: As of today there was no recent
financial information provided or released to our sources. |
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FINANCIAL SUMMARY |
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Profitability |
N.A. |
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Indebtedness |
CONTROLLED |
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Cash |
NORMAL |
N/a
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GEOPOLITICS - UNITED STATES |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
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Name of the Bank |
Bank Of America |
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Comments |
This information has not been confirmed by the company. |
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This company was incorporated for business in the year 1992. The structure is registered and operating in the state of Connecticut. |
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PRINCIPAL
ACTIVITY |
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The subject imports and distributes apparel, bags and other related accessories. |
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Products/Services description: |
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Its range of products includes: Tunics Caftans Sarongs Dresses Scarves Shawls Bags Among others. |
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Sales are: |
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Wholesale |
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Clients: |
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Retailers, distributors and other professionals of the industry
depending on the demand, among them: Target Crate& Barrel Marimekko |
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Operations area: |
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National, Local |
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The company imports from Worldwide |
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The company does not export |
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Trade References: |
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The person contacted refused to provide the names of their suppliers
on grounds of confidentiality. |
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The subject employs N.A. employee(s) |
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Comments on staff: |
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The staff number was not provided or released to our sources. |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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1115 Weed Street New Canaan, CT 06840 USA. |
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Branches: |
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No additional locations were found for the company requested. This information was not confirmed with the staff. |
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Rating |
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Local credit bureau gave a medium 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 |
DONNA GORMAN INC also known as SEE DESIGN would be a small sized
business single located in Connecticut.
The subject has over 21 years of experience since its incorporation and
it is also doing business as SEE DESIGN.
There is no detrimental information filed against the company or its
officers within the district court.
As mentioned on the content of this report, the lack of cooperation by
the time we called and the lack of information found on the business did not let
us determine the company’s size, its earnings and much other information for us
to fulfill this report.
At this point, considering the information analyzed.
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Person Interviewed |
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Donna Gorman |
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Position |
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President |
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Comments |
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The person contacted confirmed the company’s legal name. However she
was unwilling to cooperate with the interview per security purposes. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.90 |
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1 |
Rs.100.47 |
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Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.