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Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TARGET CANADA CO. |
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Registered Office : |
1959 Upper Water Street, Ste 900, Halifax, Nova Scotia B3J 2X2 |
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Country : |
Canada |
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Date of Incorporation : |
06.12.2010 |
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Legal Form : |
N.S. Unlimited Liability |
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Line of Business : |
Subject offers household essentials, including pharmacy, beauty, personal
care, baby care, cleaning, and paper products; hardlines comprising music,
movies, books, computer software, sporting goods, and toys, as well as
electronics that comprise video game hardware and software; apparel and
accessories consisting of apparel for women, men, boys, girls, toddlers,
infants, and newborns; and intimate apparel, jewelry, accessories, and shoes.
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No. of Employees : |
5,000+ |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
TARGET CANADA CO.
Headquarters: 5570 Explorer Drive, Mississauga,
Ontario L4W 0C4 – Canada
Reg. office: 1959 Upper Water Street, Ste 900
Halifax, Nova Scotia B3J 2X2 - Canada
Telephone: +1
905-614-0350
Fax: +1 905-238-5843
Website: www.target.ca
Corporate ID#: 3250374
State: Nova Scotia
Judicial form: N.S. Unlimited Liability
Date incorporated: December
6, 2010
Stock: -
Value: -
Name of manager: Anthony S. FISHER
History:
On January 20, 2012, Zellers Inc., Hudson’s Bay Company, Target
Corporation, and Target Canada Co. entered in an agreement for the transfer of
several Zellers stores to Target Canada.
Business:
The company offers household essentials, including pharmacy, beauty,
personal care, baby care, cleaning, and paper products; hardlines comprising music,
movies, books, computer software, sporting goods, and toys, as well as
electronics that comprise video game hardware and software; apparel and
accessories consisting of apparel for women, men, boys, girls, toddlers,
infants, and newborns; and intimate apparel, jewelry, accessories, and shoes.
It also provides food and pet supplies, including dry grocery, dairy,
frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet
supplies; and home furnishings and décor, such as furniture, lighting,
kitchenware, small appliances, home décor, bed and bath, home improvement, and
automotive products, as well as seasonal merchandise, which include patio
furniture and holiday décor.
The company sells its merchandise products under private-label and
exclusive licensed brands. In addition, it provides in-store amenities.
Staff: 5,000+
Operations & branches:
At above address, we find a
large building, on 180,000 sq. feet, owned.
The Company maintains 3 distribution centers and 124 stores in Canada
and is continuing its opening of new stores.
Shareholders:
Target Corp.
1000 Nicollet Mall
Minneapolis, MN 55403
United States
Ph: +1 612-304-6073
Fx: +1 612-761-5555
(NYSE = TGT)
Management:
Anthony S. FISHER,
President and CEO
Bryan J. BERG, Sr. Vice
President, stores
Marty WEINTRAUB, Vice
President, Operations
Subsidiaries
And partnership: None
In Canada, privately held
corporations are not required to publish any financials.
As far as we know, all financials
are consolidated with the parent company, which reported sales for fiscal year
ending February 1, 2014 up to
USD 75,596 million and a
net profit of 1,971 million.
On a private report, it is said that initial sales and operating results
in Canada have not met initial expectations.
Banks: Royal Bank of Canada
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, payments of
imports are currently made on terms.
The Company is developing a
strong business.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
12-17-2013.
The risk is low.
Our opinion:
A business connection may
be conducted.
However, we suggest you a
report on the parent company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.73 |
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1 |
Rs.100.82 |
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Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NNA |
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.