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Report Date : |
23.09.2014 |
IDENTIFICATION DETAILS
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Name : |
CORNER BROOK PULP AND PAPER LIMITED |
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Formerly Known As : |
INTERNATIONAL PAPER COMPANY OF NEWFOUNDLAND LIMITED |
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Registered Office : |
1 Mill Road |
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Country : |
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Date of Incorporation : |
24.12.1998 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject operates a paper mill and produces paper. |
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No of Employees : |
845 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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.
|
Source
: CIA |
Your order on: CORNER BOOK PULP AND PAPER LTD
The correct name is: CORNER
BROOK PULP AND PAPER LIMITED
CORNER BROOK PULP
AND PAPER LIMITED
Address: 1 Mill Road
Telephone: +1
709-637-3000
Fax: +1 709-637-3132
Website: www.cbppl.com
Corporate ID#: 41087
State: Newfoundland & Labrador
Judicial form: Corporation – Profit
Date incorporated: 12-24-1998
Date founded: 07-29-1927
Stock: -
Value: -
Name of manager: PATRICK
CORRIVEAU
Business:
Corner Brook Pulp And Paper Limited operates a paper mill and produces
paper. Corner Brook Pulp And Paper Limited was formerly known as International
Paper Company of Newfoundland Limited.
The company was founded in 1927 and is based in Corner Brook, Canada.
Corner Brook Pulp And Paper Limited operates as a subsidiary of Kruger,
Inc.
Corner Brook Pulp and Paper manages approximately 1.5 million
hectares
(3.6 million acres) of forest
land on the Island of Newfoundland.
These timber limits span from the Codroy Valley on the southwest corner
of the island, to Cat Arm on the Northern Peninsula, and east to Gander
in central Newfoundland.
Of the 1.5 million hectares of total land area, only 760,000 hectares
are productive forest.
The Company exports worldwide.
Staff: 845
Operations & branches:
At the headquarters, we
find a large factory, warehouse and office, owned.
Shareholders:
KRUGER INC.
3285, chemin Bedford
Montreal, Quebec H3S 1G5
Canada
Management:
The Board of Directors includes:
- David ANGEL
- Daniel ARCHAMBAULT
- George J. BUNZE
- Joseph KRUGER II (President)
- David SPRALEY
Patrick CORRIVEAU is the Manager.
As far as we know, they are involved in other corporations, including
the parent company.
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 230,000,000=
The business is profitable.
Banks: Scotia Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
TRADE REFERENCES:
Date reported: August 2014
High credit: CAD 50,000+
Now owing: 0
Past due: 0
Last purchase: July 2014
Line of business: Office supply
Paying status: On terms
Date reported: August 2014
High credit: CAD 1,100,000
Now owing: 0
Past due: 0
Last purchase: July 2014
Line of business: Payroll
Paying status: As agreed
Date reported: August 2014
High credit: CAD 1,000
Now owing: 0
Past due: 0
Last purchase: July 2014
Line of business: Telecommunications
Paying status: On terms
DOMESTIC CREDIT HISTORY:
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on due date.
INTERNATIONAL
CREDIT HISTORY:
Payments of imports are currently made on terms.
OTHER COMMENTS:
The Company is developing
its business.
The bank confirmed a
regular account.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
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.60.79 |
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|
1 |
Rs.99.30 |
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Euro |
1 |
Rs.78.16 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
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 |
-- |
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.