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Report No. : |
351668 |
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Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
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Name : |
UTSAV SHOES INC. |
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Registered Office : |
1100 Burloack Drive, Ste 300, Burlington,
Ontario L7L 6B2 |
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Country : |
Canada |
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Date of Incorporation : |
05.06.2014 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject engaged in importer and distributor of shoes and boots,
leather bags and accessories. |
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No. of Employee : |
1 |
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 : |
Small Company |
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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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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, and electric power, and a top source of US uranium imports. 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 early intervention by the Bank of Canada and the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-14 and plans to balance the budget by 2015 despite the recent drop in oil prices. 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 and is the world’s fifth-largest oil producer.
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Source
: CIA |
Company name: UTSAV SHOES INC.
Address: 1100
Burloack Drive, Ste 300, Burlington, Ontario L7L 6B2 –
Canada
Telephone: +1
416-300-5162 (cellular)
Fax: -
Website: www.utsavshoes.com
Corporate ID#: ON-002421623
State: Ontario
Judicial form: Corporation
– Profit
Date incorporated: June 5, 2014
Stock: -
Value: -
Name of manager: Shankar
VASAN
Business:
The Company is importer and distributor of
shoes and boots, leather bags and accessories.
Brands include ANNA, BLEU BONHEUR, BURTON
MENSWEAR, PEDI-CONFORT…
The Company imports from India.
No name of foreign suppliers available.
Staff: 1
Operations &
branches:
At the headquarters,
we find the “Corporate Executive Offices”.
Shareholders:
This is a private
Company.
Management:
Shankar VASAN is the
President and CEO.
He is also in charge
of Sales and Marketing.
As far as we know, he is not involved in
other local corporations.
Subsidiaries
And partnership: None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call,
nobody accepted to answer our questions.
We sent an email but
no answer received.
No financials
available.
Banks: n/a
Legal filings & complaints:
As of today date, there is no legal filing
pending with the Courts.
Secured debts summary: None
Haut du formulaire
Trade references:
Date reported: November 2015
High credit: CAD 28,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Payroll
Paying status: As agreed
Date reported: November 2015
High credit: CAD 120
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Telecommunications
Paying status: On terms
Domestic credit
history:
National Credit
Bureaus gave a satisfying credit risk.
According to our credit analysts, during
the last 6 months, domestic payments were made on due date.
Other comments:
The Company is in
good standing.
This means that all local
and federal taxes were paid on due date.
Our opinion:
Due to the lack of
information, we are unable to estimate a risk and we suggest you to be careful.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.63 |
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|
1 |
Rs.100.65 |
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Euro |
1 |
Rs.72.40 |
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CAD |
1 |
Rs.49.35 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TRU |
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.