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Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SPRINGS CANADA, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30.12.1994 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and wholesaler of bed and bath integrated textile
home furnishings worldwide |
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No. of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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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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
|
Source
: CIA |
Company name: SPRINGS CANADA, INC.
Address: 110 Matheson Blvd, Ste 200, Mississauga, Ontario L5R 3T4
Canada
Telephone: +1 905-890-4994
Fax: +1 905-507-5070
Website: www.springs.com
Corporate ID#: ON-0001004509
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 12-30-1994
Stock: -
Value: -
Name of
manager: George B. GAMBRELL
Business:
Springs Canada, Inc. is importer and wholesaler of bed and bath integrated textile home furnishings worldwide. It offers sheets and pillow cases, comforters, duvets, ensembles, soft decorative window fashions, quilts, pillows, mattress pads, blankets, towels, shower curtains, bath rugs, and bath accessories. The company sells its products through retailers.
The company offers products from the Wamsutta, Springmaid, Artex, Santista, Regal and Dundee brands.
The Company imports maintain from Asia.
Staff: 70
Operations & branches:
At the
headquarters, we find a warehouse and office, on lease.
Shareholders:
Springs Global Participações S.A.
Avenue Magalhaes Pinto 4000
Montes Claros, MG 39404-166
Brazil
Springs Global Participações S.A., through its subsidiaries, engages in the manufacture and sale of textile home furnishings primarily in Brazil, the United States, Argentina, and Canada.
The Company is listed in Sao Paulo under symbol SGPS3.
Management:
George B. GAMBRELL is the President, Director and CEO.
(no antecedents available).
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 16,000,000+
(same as
2012)
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: Several
Haut du formulaire
Trade
references:
Date
reported: September 2014
High
credit: CAD 5,000
Now owing: 0
Past due: 0
Last
purchase: September 2014
Line of
business: Office supply
Paying
status: 12 days beyond terms
Date
reported: September 2014
High credit: CAD 100,000+
Now owing: 0
Past due: 0
Last
purchase: September 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: September 2014
High
credit: CAD 800
Now owing: 0
Past due: 0
Last
purchase: September 2014
Line of business: Telecommunications
Paying
status: 15 days beyond terms
Domestic
credit history:
Domestic
credit history appears as follow:
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Monthly
Payment Trends - Recent Activity |
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National
Credit Bureaus gave a medium/bad credit rating.
According to our credit analysts, during the last 6 months, payments were made with an average of 15+ days beyond terms.
International credit history:
Payments of imports are currently made with an average of 5 days beyond terms.
The Company
is improving its payments, but the cash is low, due to high inventories and a
low market.
Other
comments:
The bank
confirmed late payments.
The Company
is in good standing.
This means
that all local and federal taxes were paid on due date.
The risk is
HIGH.
Our
opinion:
We suggest
you to be careful.
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 : |
NIS |
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.