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Report No. : |
352424 |
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Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ARDEN HOLDINGS INC |
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Registered Office : |
2575 Bd Pitfield, Montreal, Quebec H4S 1T2 |
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Country : |
Canada |
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Date of Incorporation : |
23.03.1995 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is one of Canada’s premier fashion retailers with over 400 stores nationwide. |
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No. of Employee : |
800+ |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – 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: LES
PLACEMENTS ARDEN INC. (in French)
ARDEN
HOLDINGS INC. (in English)
Address: 2575
Bd Pitfield, Montreal, Quebec H4S 1T2 - Canada
Telephone: +1
514-383-4442
Fax: +1
514-382-5754
Website: www.ardene.com
Corporate ID#: 1160584208
State: Ontario
Judicial form: Corporation
– Profit
Date incorporated: February 1, 2002
Date founded: March 23, 1995
Stock: -
Value: -
Name of manager: Mark
DERVISHIAN
History:
Business issued from
the merger of:
LES PLACEMENTS ARDEN INC.
Quebec ID# 1144135788
9109-5901 QUEBEC INC.
Quebec ID# 1160408853
Business:
Ardene is one of Canada’s premier fashion
retailers with over 400 stores nationwide.
From its start as a fashion accessory and jewelry
store, Ardene has grown to become a truly unique one-stop shopping destination!
With a product assortment which includes
shoes, accessories, jewelry, clothing, intimates and beauty products, ARDENE
offers girls the exciting opportunity to dress themselves from head to toe in
one store!
Staff: 800+
Operations &
branches:
At the headquarters,
we find a major store and office.
The Company maintains
over 400 stores in Canada.
Shareholders:
1st shareholder (+50%):
Arden DERVISHIAN
2nd shareholder:
4233964 CANADA INC.
Management:
Aden DERVISHIAN, President and Director.
Mark DERVISHIAN, Director and CEO ‘since
June 11, 2015)
Jerry DERVISHIAN, Treasurer
Dorine DERVISHIAN, Purchasing Manager
Subsidiaries
And partnership:
ARDENE INTERNATIONAL INC.
Federal Corporation
Incorporated on December 6, 2007
ID# 6885730
In Canada, privately
held corporations are not required to publish any financials.
On a direct call, a Secretary
controlled the present report but deferred any financials.
We sent a fax but no
answer received.
However, sales
estimate for year 2014 is in excess of CAD 100,000,000+
The business is
profitable.
Banks: Banque de Montreal
…
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: November 2015
High credit: USD 100,000+
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Office supply
Paying status: On terms
Date reported: November 2015
High credit: USD 1,500,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Payroll
Paying status: As agreed
Date reported: November 2015
High credit: USD 15,000
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.
International credit history:
Payments of imports are currently made on
terms.
Other comments:
The Company maintains
a regular business.
The bank confirmed
The Company is in
good standing.
This means that all
local and federal taxes were paid on due date.
Last report was filed
on 07-23-2015.
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.66.75 |
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1 |
Rs.100.29 |
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Euro |
1 |
Rs.72.89 |
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CAD |
1 |
Rs.49.27 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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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.