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Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ZALE CANADA, INC. |
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Registered Office : |
900-1959 Upper Water Street, Halifax, Nova Scotia B3J 2X2 |
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Country : |
Canada |
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Date of Incorporation : |
15.04.1999 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Retailer of traditional jewelry items |
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No. of Employees : |
1,000+ |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and high 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 merchandise exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its abundant 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 2010-13 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly expanding, because Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada now ranks third in the world in proved oil reserves behind Saudi Arabia and Venezuela.
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Source
: CIA |
Company name: ZALE CANADA, INC.
Address: 1440 Don Mills Road,
North York, Ontario M3B 3M1 - Canada
Reg. address: 900-1959 Upper Water Street, Halifax,
Nova Scotia B3J 2X2 Canada
Telephone: +1
416-391-7739
Fax: +1 416-391-7870
Website: www.zalecorp.com
Corporate ID#: 3265471
State: Nova Scotia
Judicial form: Corporation – Profit
Date incorporated: August 2,
2012
Date founded: April 15, 1999
Stock: -
Value: -
Name of manager: Mark
LIGHT
History:
ZALE CANADA, INC. is issued from the merger of:
- ZALE CANADA DIAMOND SOURCING, INC.
- ZALE CANADA FINCO 1, INC.
- ZALE CANADA FINCO 2, INC.
- ZALE CANADA INC.
Business:
Zale Canada Co. is a retailer of traditional jewelry items and operates
201 stores in 9 provinces.
The Canadian operations consist of 4 brands:
- Peoples Jewellers (146 stores)
- Mappins Jewellers (55 stores)
- Peoples
- Mackenzie’s Jewellers
- Mappins
Zale Canada Co. is based in North York, Canada.
Staff: 1,000+
Operations & branches:
At the headquarters, we
find the corporate office.
The Company maintains 201
stores in Canada.
Shareholders:
ZALE CANADA HOLDING LP
1000-44 Chipman Hill, CP 7289
St John, New Brunswich E2L 4S6
Canada
Which is a wholly
owned subsidiary of:
ZALE CORPORATION
901 West Walnut Hill Lane, Irving, TX 75038
Incorporated in Delaware on
04-26-1991
ID# 2261333
The Company is listed with
the NYSE under symbol ZLC.
Since May 2014, ZALE
CORPORATION is a subsidiary of:
SIGNET JEWELERS LIMITED
Clarendon House, 2 Church Street
Hamilton, HM11 - Bermuda
Management:
Mark LIGHT is the CEO
He has been the CEO of Signet Jewelers Limited since October 31, 2014.
Mr. Light served as the Chief Operating Officer and President of Signet
Jewelers Limited (formerly, Signet Group Plc) since May 29, 2014. Mr. Light
serves as the Chief Executive Officer and President of Sterling Jewelers, Inc.
He served as the Chief Executive Officer of US Division at Signet Jewelers
Limited since January 12, 2006 until May 29, 2014, and served as its President
of U.S. Division since 2002. He served as Chief Operating Officer of U.S. Division
at Signet Jewelers Limited since 2002. Mr. Light joined Signet Jewelers Limited
in 1978. He serves as Vice Chairman at Jewelers of America. He has been an
Independent Director of Regis Corp. since October 2013.
He has been Director of Signet Jewelers Limited since October 31, 2014.
He served as an Executive Director of Signet Jewelers Limited from
January 12, 2006 to October 2008.
George MURRAY is the President.
He has been the Chief Executive Officer of Zale Division and President
of the Zale Division at Signet Jewelers Limited since July 31, 2014.
Mr. Murray served as the Chief Integration Management Officer of Signet
Jewelers Limited from May 29, 2014 to July 31, 2014.
Tom HAUBENSTRICKER is the CFO
Denise SHADDER is Vice President and Treasurer
Laurel KRUEGER is Vice President and Secretary
J. Lynn DENNISON, Michael W. BARNES and Michele SANTANA are Directors.
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.
Sales declared for year
2013 is in the range of CAD 300,000,000=
The business is profitable.
Banks: Royal Bank of Canada
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Haut du formulaire
Trade references:
Date reported: November 2014
High credit: CAD 40,000
Now owing: 0
Past due: 0
Last purchase: October 2014
Line of business: Office supply
Paying status: 5 days terms
Date reported: November 2014
High credit: USD 1,600,000+
Now owing: 0
Past due: 0
Last purchase: October 2014
Line of business: Payroll
Paying status: As agreed
Date reported: November 2014
High credit: CAD 20,000+
Now owing: 0
Past due: 0
Last purchase: October 2014
Line of business: Telecommunications
Paying status: 5 days beyond terms
Domestic credit history:
National Credit Bureaus
gave a correct credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made with an average of 5 days beyond terms.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
09-29-2014.
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.61.87 |
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1 |
Rs.96.83 |
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Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.