MIRA
INFORM REPORT
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Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
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Name : |
METALDYNE BSM, LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17.09.2009 |
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Legal Form : |
LLC |
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Line of Business : |
Supplies and manufacturer of automobile parts, motor parts. |
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No. of Employees : |
172 |
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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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 |
UNITED STATES - ECONOMIC OVERVIEW
The
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Source
: CIA |
Company name
METALDYNE BSM, LLC
Address:
Telephone: +1
260-495-4315
Fax: +1 260-495-1707
Website: www.metaldyne.com
Corporate ID#: 4731793
State:
Judicial form: LLC
Date incorporated: 09-17-2009
Stock Value: A
LLC has no stock
Name of manager: Thomas
A. AMATO
ACTIVITIES
& OPERATIONS
Business:
This is an automobile parts, motor parts and supplies manufacturer.
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
Suppliers include:
SHINWOO CO. LTD.
491-2, MONGNAE-DONG, DANWON-GU, ANSAN
MULTITECH COMPONENTS PVT LTD
B 10-9 P ADITYAPUR INDUSTRIAL AREA
EIN: -
Staff: 172
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, owned.
SHAREHOLDERS & MANAGERS
Shareholders:
Metaldyne LLC
Ph: +1-734-207-6200
Fx: +1-734-207-6500
Metaldyne, LLC designs and supplies metal-formed
components and assemblies. The company offers sintered products, forged
products, drivetrain products, and vibration control systems. It offers its
products for powertrain applications, including engine connecting rods,
transmission valve bodies, forged and finished differential gears and pinions,
differential assemblies, balance shaft modules, crankshaft dampers, and
crankshaft pulleys.
The company, which is headquartered in Plymouth, Michigan and has $1
billion in revenue, is well positioned
to serve its global customers with 4,000
employees at its 25 facilities located in 13 countries throughout
North America, Europe, Latin America,
and Asia.
The Company was purchased by American Securities LLC, on October 2012.
25 facilities
Staff: 4,000
Sales 2013: USD 1 Billion.
Management:
Thomas A. AMATO, CEO
He serves as the Chairman, Chief Executive
Officer and President of Metaldyne, LLC (formerly Metaldyne Company, LLC).
Mr. Amato served as Co-Chief Executive
Officer of Asahi Tec Corp. since January 2008. He served as Chief Executive
Officer of Metaldyne Corp. since January 2008 and also served as its President.
Mr. Amato served as Executive Vice President of Business Development and
Commercial Operations of Metaldyne Corp. He served as Chief Executive Officer of Oldco M Corporation
since January 2008 and also served as its Chairman and President. He served as
Vice President of Corporate Development at Metaldyne Corp. since September
2001, its Executive Vice President of Commercial Group since April 6, 2005, and
its Executive Vice President of Commercial Operations since January 2005, where
he was responsible for business development initiatives, including mergers, acquisitions,
joint ventures, strategic alliances, divestitures and other business
development activities.
Mr. Amato joined Masco Corporation in
May 1994 and being assigned to MascoTech and served as its Manager of Business
Development, was transferred to MascoTech in 1996 and served as its Director of
Corporate Development. He served as Vice President, Corporate Development of
TriMas Corporation, in May 2001, where he was responsible for all of the
merger, acquisition, alliance, divestiture, and joint venture activities.
Mr. Amato served as Chairman of
Metaldyne Corp.
He serves as a Director of Business
Leaders for
He served as a Director of Asahi Tec
Corp. since June 2008.
He served as Director of Metaldyne
Corp. since February 2007.
He served on the board of directors of
NC-M Chassis Systems, LLC, a joint venture between DaimlerChrysler and
Metaldyne, and also served on the board of Innovative Coatings Technologies,
LLC.
Mr. Amato holds a Bachelor of Science
in Chemical Engineering from
As far as we know, he is involved in the parent company and other
corporations of the group.
FINANCIALS
In
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2013 is in the range of USD 28,000,000= verse
USD 25,000,000= in 2013.
The business is said to be
profitable.
Banks: JPMorgan Chase Bank
LEGAL FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
File number: 20120000919878
Date filed: 10-08-2012
Lapse date: 10-08-2017
Secured Party: Ellison Technologies
Haut du formulaire
COMPANY
CREDIT HISTORY
Trade references:
Date reported: August 2014
High credit: USD 25,000
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: USD 250,000+
Now owing: 0
Past due: 0
Last purchase: July 2014
Line of business: Payroll
Paying status: As agreed
Date reported: August 2014
High credit: USD 800
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.
International credit history:
Payments of imports are currently made on terms.
Other comments:
The Company is developing a
strong business.
The bank confirmed an
account on 6 figures low.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
June 3, 2013.
The risk is low.
However, we suggest you a report
on the parent company METALDYNE LLC.
Our opinion:
A business connection may
be conducted.
Standard & Poor’s
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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+'.
On Monday, we
will issue separate releases concerning affected ratings in the funds,
government-related entities, financial institutions, insurance, public finance,
and structured finance sectors.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.02 |
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1 |
Rs.99.99 |
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Euro |
1 |
Rs.78.37 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
PDT |
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.