MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
AEO MANAGEMENT CO. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
07.06.2000 |
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Legal Form : |
Corporation - Profit |
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Line of Business : |
Subject is doing business
as a management services for the group AMERICAN EAGLE OUTFITTERS INC. |
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No of Employees : |
20 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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USA |
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 |
USA - 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 was designed to 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%. In
late 2013, the Fed announced that it would begin scaling back long-term bond
purchases to $75 billion per month in January 2014 and reduce them further as
conditions warranted; the Fed, however, would keep short-term rates near zero
so long as unemployment and inflation had not crossed the previously stated
thresholds. 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 |
AEO MANAGEMENT CO.
Headquarters: 150 Thorn Hill Drive,
Warrendale, PA 15086 - USA
Telephone: +1 724-779-5369
Fax: +1 724-779-7835
3240339
Delaware
Corporation – Profit
June 7, 2000
Jay L. SCHOTTENSTEIN
Business:
The Company is doing
business as a management services for the group AMERICAN EAGLE OUTFITTERS 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 United States citizens and
permanent residents are prohibited from doing business.
No name of foreign suppliers available.
20
At the headquarters, we
find the corporate office of the group.
Brand incorporated in
Pennsylvania on January 4, 2002
ID# 3045200
Shareholders:
AMERICAN EAGLE OUTFITTERS, INC.
77 Hot Metal Street
Pittsburgh, PA 15203 - United States
Phone: 412-432-3300
Fax: 724-779-5585
Web Site: http://www.ae.com
American Eagle Outfitters, Inc. operates as an apparel and accessories
retailer in the United States and Canada. The company offers denim wear,
sweaters, graphic t-shirts, fleece, outerwear, and accessories targeting 15 to
25 year old girls and guys under the American Eagle brand name; and clothing
and accessories for kids through online under the 77kids by american eagle
brand name. It also provides a collection of Dormwear, intimates, and personal
care products for girls under the aerie by American Eagle brand name. In
addition, the company sells merchandise through its e-commerce Web sites,
including ae.com, aerie.com, and 77kids.com.
As of March 10, 2010, it operated 939 American Eagle Outfitters stores
and 137 aerie standalone stores. The company was founded in 1972 and is
headquartered in Pittsburgh, Pennsylvania.
American Eagle Outfitters,
Inc. is listed with the NYSE under symbol AEO.
Management:
The President is Jay L.
SCHOTTENSTEIN.
Born in 1952
Jay L. SCHOTTENSTEIN, Executive Chairman of American Eagle Outfitters,
Inc., a retail chain, and SSC since March 1992.
Mr. Schottenstein has served as Chairman of the Board of Directors of
DSW since March 2005.
From March 2005 until April 27, 2009 Mr. Schottenstein also served as
Chief Executive Officer of DSW. Mr. Schottenstein is also a director of
American Eagle Outfitters, Inc. and DSW.
Ms. Mary BOLAND is the CFO of the group.
None
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but declared that all
financials are consolidated into the parent company, which reported the
following:
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Currency in |
As
of: |
Jan 30 |
Jan 29 |
Jan 28 |
Feb 02 |
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TOTAL REVENUES |
2,940.3 |
2,945.3 |
3,120.1 |
3,475.8 |
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NET INCOME |
169.0 |
140.6 |
151.7 |
232.1 |
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Banks: Provident Bank
Legal filings & complaints:
As of today date, there is no legal filing pending with the District
Courts.
Secured debts summary (UCC):
None
Trade references:
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Date reported: |
December 2013 |
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High credit: |
USD 15,000 |
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Now owing: |
0 |
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Past due: |
0 |
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Last purchase: |
November 2013 |
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Line of business: |
Office supply |
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Paying status: |
2 days beyond terms |
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Date reported: |
December 2013 |
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High credit: |
USD 35,000 |
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Now owing: |
0 |
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Past due: |
0 |
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Last purchase: |
November 2013 |
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Line of business: |
Payroll |
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Paying status: |
As agreed |
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Date reported: |
December 2013 |
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High credit: |
USD 600 |
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Now owing: |
0 |
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Past due: |
0 |
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Last purchase: |
November 2013 |
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Line of business: |
Telecommunications |
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Paying status: |
2 days beyond terms |
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 1 to 2 days beyond terms.
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.
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. 62.17 |
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1 |
Rs. 103.38 |
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Euro |
1 |
Rs. 85.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.