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Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
BDP
INTERNATIONAL, INC. |
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Registered Office : |
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Country : |
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Year of Establishments : |
1966 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
· provider of logistics and transportation solutions globally. Subject offers a range of integrated solutions, including
air, ocean, and ground transportation; export logistics services, including
freight forwarding; import logistics services comprising customs clearance
services; trade, security, and environmental regulatory compliance;
warehousing and distribution; global project logistics; process enhancement;
global logistics modeling and management; lead logistics design and
management; and supply chain optimization consulting. Subject also provides chemicals, healthcare, oil and gas,
life sciences, and retail and consumer goods logistics services. |
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No of Employees : |
3,700 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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6-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Exists |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
United States ECONOMIC OVERVIEW
The
|
Source : CIA |
Company name: BDP INTERNATIONAL, INC.
Address:
Telephone: +1
215-629-8900
Fax: +1 215-629-8940
Website: www.bdpinternational.com
Corporate ID#: 23862
State:
Judicial form: Corporation – Profit
Date incorporated: 05-05-1972
Date founded: 1966
Name of manager: Richard BOLTE Jr.
Business:
BDP International, Inc. provides logistics and transportation solutions
globally.
The company offers a range of integrated solutions, including air,
ocean, and ground transportation; export logistics services, including freight
forwarding; import logistics services comprising customs clearance services;
trade, security, and environmental regulatory compliance; warehousing and
distribution; global project logistics; process enhancement; global logistics
modeling and management; lead logistics design and management; and supply chain
optimization consulting. It also provides chemicals, healthcare, oil and gas,
life sciences, and retail and consumer goods logistics services.
The company was founded in 1966 and is headquartered in
On December 10, 2013, the company merged with ELITE GROUP, INC.
Office of the Foreign Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom
EIN: 23-1878776
Staff: 3,700
Operations & branches:
At the headquarters, we
find the corporate headquarters.
BDP International has a total of 133 owned and joint venture offices,
with an additional 195 offices in our Global Network group. The over 300 offices
give us a presence in nearly 135 countries around the world.
The Company maintains
several branches in the
Ph: +1 281-775-2100
Fx: +1 281-775-2190
Shareholders:
This is a BOLTE family owned and managed
Management:
Richard J. BOLTE, Jr., has been Chief Executive Officer of BDP
International, Inc. since July 2006 and also serves as its Chairman.
Mr. Bolte joined BDP International, holding of Elite Group, Inc. in
1973. During his 25-year career with BDP International, he has held positions
covering a broad range of its operations in global logistics and
transportation. His previous experience at BDP centered on ocean exports and
supply chain management, with particular emphasis on company operations. He
serves as President and Chairman of Sirrum, Inc. Mr. Bolte served as Vice
President for BDP International's Northeast Region before taking the position
of Chief Operating Officer.
Mr. Bolte led the development of a Logistics software application to
work in partnership with customer SAPR/R3TM platforms.
He contributed significantly to BDP's expanded presence in the U.S
marketplace by helping to develop new business opportunities, in addition to
forming BDP's Logistics process analysis and management expertise. During his
first year as president, BDP's dedication to excellence resulted in it being
named a recipient of The President's E-Award for Excellence in Exporting, the
highest
In January, 2000, he established an e-commerce partnership with e- SASA,
a full service, global marketer of surplus capital equipment.
Under Mr. Bolte's leadership, BDP is also forging preferred supplier
relationships with the leading Internet portals serving the Chemical sector.
Mr. Bolte is a Board Member of the National Committee for International
Trade, and Past President of the World Trade Association of Philadelphia.
Mr. Bolte earned a BS Degree from Mount St. Mary's College,
John M. BOLTE is the President and COO.
He has been a member of the BDP International organization for more than
24 years; he joined the family business in 1976. Having reached his current
position through progressive earned advancement, John's practical experience,
working hands-on at every level of it has delivered significant benefits to BDP
customers. He has served in all facets of its Customer Development and
Information Systems programs, and his keen insights in these areas during the
1990's led to the establishment of its expertise in supply chain management and
logistics process improvement services for its customers. Working in close
collaboration with his brother Richard Bolte, BDP's president, John has played
an active role in shaping its strategic path. Leading by example, John is a
zealous believer in the value of customer intimate service; his enthusiasm and
boundless energy with BDP employees and customers alike is well known.
Mr. Bolte's industry affiliations include Council of Logistics
Management, National Committee for International Trade and World Trade
Association of Philadelphia. Mr. Bolte, graduated from Mount St. Mary's College
where he earned his BA degree in Science.
Francis K. BOLTE is Treasurer.
Howard BOLTE is Secretary.
As far as we know, they are involved in several other corporations in
the
In
On a direct call, a
financial assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
Outside sources (bank) gave
estimate sales for year 2013 in the range of
USD 2 billion verse USD 1.9 billion in 2012.
The business is profitable.
Banks: Wells Fargo Bank
Legal filings
& complaints:
State:
Case number: 2:14-cv-04018-TJS
Plaintiff: HARMAN INTERNATIONAL INDUSTRIES,
INC. et al
Defendant: BDP INTERNATIONAL, INC.
TIMOTHY J. SAVAGE, presiding
Date filed: 06/30/2014
Date of last filing: 07/30/2014
State:
Case number: 2:14-cv-01417-CMR
Plaintiff: Thomas O'NEILL
Defendant: BDP INTERNATIONAL, INC.
CYNTHIA M. RUFE, presiding
Date filed: 03/07/2014
Date of last filing: 07/28/2014
Cause: American with disabilities Act of
1990
Secured debts summary (UCC): Numerous
UCC files
Trade references:
Date reported: July 2014
High credit: USD 50,000+
Now owing: 0
Past due: 0
Last purchase: June 2014
Line of business: Office supply
Paying status: 20 days beyond terms
Date reported: July 2014
High credit: USD 5,000,000
Now owing: 0
Past due: 0
Last purchase: June 2014
Line of business: Payroll
Paying status: As agreed
Date reported: July 2014
High credit: USD 15,000
Now owing: 0
Past due: 0
Last purchase: June 2014
Line of business: Telecommunications
Paying status: 10+ days beyond terms
Domestic credit history:
Domestic credit history
appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
|
|
National Credit Bureaus
gave a medium/bad credit rating.
According to our credit analysts, during the last 6 months, domestic payments
were made with an average of 20+ days beyond terms.
Other comments:
The Company maintains its
business.
The bank confirmed late
payments but remains confident.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is medium.
Our opinion:
A business connection may
be conducted but we suggest you to check regularly the way of payments.
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.60.25 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.