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Report No. : |
317981 |
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Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BRAVO FABRICS INTERNATIONAL, LLC |
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Registered Office : |
15 E. 26th Street, 2nd floor, New York, NY 10010 |
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Country : |
United States |
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Date of Incorporation : |
14.05.2003 |
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Legal Form : |
LLC |
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Line of Business : |
Subject is importer and supplier of fabrics to the home furnishing and hospitality trades. |
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No. of Employees : |
10 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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United States |
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 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 (Fed) 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 below 6.5% or 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.
|
Source
: CIA |
Company name: BRAVO FABRICS INTERNATIONAL, LLC
Address: 15 E. 26th Street, 2nd floor, New York, NY 10010 - USA
Telephone: +1 212-532-8670
Fax: +1 212-213-0518
Website: http://www.swavellehospitality.com
Corporate ID#: 2906070
State: New York State
Judicial form: LLC
Date incorporated: 05-14-2003
Stock
value: A LLC has no stock
Name of
manager: Jeffrey THOMASES
Business:
Bravo is importer and supplier of fabrics to the home furnishing and hospitality trades.
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.
Suppliers include:
WINDECO LTD.
RM 701, Daeseung Bldg., 1318, Seocho-Dong, Seocho-Gu, Seoul, Korea
SILKTEX LIMITED
White House, no.23-29, St.Marks Road, Bangalore, 560001 India
SATIN TEXTILES CO.,LTD.
77/102,25th floor, Sinnsathorn Tower Klongsarn, Bangkok 10600 Thailand
EIN: -
Staff: 10
Operations
& branches:
At the headquarters, we find a warehouse and office, on 29,000 sq. feet,
leased by the parent company.
Shareholders:
SWAVELLE/MILL CREEK FABRICS, INC.
15 E. 26th Street, 2nd floor, New York, NY 10010
Incorporated
in New York State on 06-24-1982
ID# 778325
Management:
Jeffrey THOMASES is the President, Director and CEO
David THOMASES is Director
Eric ZISSMAN is Controller
As far as we know, they are involved in other corporations, including:
SWAVELLE/MILL CREEK FABRICS, INC.
15 E. 26th Street, 2nd floor, New York, NY 10010
Incorporated
in New York State on 06-24-1982
ID# 778325
ASSOCIATED TEXTILE CONVERTERS, INC.
15 E. 26th Street, 2nd floor, New York, NY 10010
Incorporated
in New York State on 03-25-2004
ID# 3031778
TEXTILE
FABRIC ASSOCIATES, LLC
15 E. 26th Street, 2nd floor, New York, NY 10010
Incorporated
in New York State on 07-11-2003
ID# 2929674
In United
States, privately held corporations are not required to publish any financials.
On a direct
call, a sales assistant controlled the present report but deferred any
financials.
We sent a
fax but no answer received.
Outside
sources (bank) gave estimate sales for year 2014 in the range of
USD
1,700,000=
The
business is profitable.
Banks: Citibank
Branch Banking &
Trust
Legal filings & complaints:
As of today, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
|
1. |
Debtor Names: |
BRAVO FABRICS
INTERNATIONAL, LLC |
15 EAST 26TH
STREET, NEW YORK, NY 10010, USA |
|
Secured Party Names: |
BRANCH BANKING AND
TRUST COMPANY |
317 W. HIGH
STREET, 11TH FLOOR, HIGH POINT, NC 27260, USA |
|
|
File no. |
File Date |
Lapse Date |
Filing Type |
||
|
200908135739041 |
08/13/2009 |
08/13/2014 |
Financing Statement |
||
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201406115613290 |
06/11/2014 |
08/13/2019 |
Continuation |
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2. |
Debtor Names: |
BRAVO FABRICS
INTERNATIONAL LLC |
15 E. 26TH STREET,
NEW YORK, NY 10010, USA |
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Secured Party
Names: |
ROSENTHAL &
ROSENTHAL, INC. |
1370 BROADWAY, NEW
YORK, NY 10018, USA |
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|
File no. |
File Date |
Lapse Date |
Filing Type |
||
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200911206046209 |
11/20/2009 |
11/20/2014 |
Financing Statement |
||
|
201406025575427 |
06/02/2014 |
11/20/2019 |
Continuation |
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3. |
Debtor Names: |
BRAVO FABRICS INTERNATIONAL,
LLC |
15 EAST 26TH
STREET, NEW YORK, NY 10010, USA |
|
Secured Party
Names: |
BRANCH BANKING AND
TRUST COMPANY |
317 W. HIGH AVE.,
11TH FL. MARKET SQUARE TOWER, HIGH POINT, NC 27260, USA |
|
|
File no. |
File Date |
Lapse Date |
Filing Type |
||
|
201309180531530 |
09/18/2013 |
09/18/2018 |
Financing Statement |
Trade references:
Date
reported: March 2015
High
credit: USD 3,000
Now owing: 0
Past due: 0
Last
purchase: February 2015
Line of business: Office supply
Paying
status: On terms
Date
reported: March 2015
High
credit: USD 10,000+
Now owing: 0
Past due: 0
Last
purchase: February 2015
Line of
business: Payroll
Paying
status: As agreed
Date
reported: March 2015
High
credit: USD 300
Now owing: 0
Past due: 0
Last
purchase: February 2015
Line of
business: Telecommunications
Paying
status: On terms
Domestic credit history:
Domestic
credit history appears as follow:
|
Monthly
Payment Trends - Recent Activity |
||||||
|
Date |
Up to 30 DBT |
31-60 DBT |
61-90 DBT |
>90 DBT |
||
|
10/14 |
$3,900 |
95% |
5% |
0% |
0% |
0% |
|
11/14 |
$3,900 |
95% |
5% |
0% |
0% |
0% |
|
12/14 |
$3,800 |
96% |
4% |
0% |
0% |
0% |
|
01/15 |
$3,900 |
97% |
3% |
0% |
0% |
0% |
|
02/15 |
$3,800 |
96% |
4% |
0% |
0% |
0% |
|
03/15 |
$3,800 |
96% |
4% |
0% |
0% |
0% |
National
Credit Bureaus gave a correct credit rating.
Domestic payments are currently made on terms.
International
credit history:
Payments of imports are currently made on due date.
Other comments:
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.
Our opinion:
A business
connection may be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
|
|
1 |
Rs.93.85 |
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Euro |
1 |
Rs.67.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
VNT |
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.