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Report No. : |
321933 |
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Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
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Name : |
MYTH CLOTHING COMPANY, INC. |
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Registered Office : |
525 7th Ave, New York, NY 10018 |
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Country : |
United
States |
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Date of Incorporation : |
08.09.2011 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and wholesaler family clothing |
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No. of Employees : |
4 + part time |
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 – 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 most technologically powerful economy in the
world, with a per capita GDP of $54,800. In 2014, however, US GDP ran second to
China’s, when compared on a Purchasing Power Parity basis; the US lost the top
spot, where it had stood for more than a century. In the US, 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 has been a driving factor in 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. But the globalization of trade, and especially the rise of
low-wage producers, has put additional downward pressure on wages and upward
pressure on the returns to capital. 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.
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Source
: CIA |
MYTH CLOTHING COMPANY, INC.
525 7th Ave, New York, NY 10018 - USA
Telephone: +1
212-575-6700
Fax: +1 212-575-6700
Website: -
Corporate ID#: 4139616
State: New York State
Judicial form: Corporation – Profit
Date incorporated: September
8, 2011
Stock: 200
shares common
Value: No
par value
Name of manager: Arun
KUMAR
History:
Since July 11, 2012, the
Company is also doing business as TRU CLOTHING COMPANY, INC.
Business:
Importer and wholesaler family clothing.
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:
SUZHOU DONGTENG IMPORT & EXPORT CO., LTD
ZHONGYUAN BUSSINESS BLDG NO.19 DONGWU NORTH ROAD WUZHONG DIST SUZHOU
CHINA
F.E.C.GARMENTS COMPANY
NO.96 CHANGJIANG ROAD CENTRAL NEW DEVELOPMENT ZONE CHANGZHOU JIANGSU
CHINA
EIN: -
Staff: 4 + part time
Operations & branches:
At the headquarters, we
find a showroom and office, on lease.
Shareholders:
Arun KUMAR is a major
shareholder.
Management:
Arun KUMAR is the President
and CEO.
As far as we know, he is involved in other corporations, including:
HIGRADE MANUFACTURING COMPANY, LLC
7 Anthony Court
Copiague, NY 11726
Incorporated in New York State on June 4, 2002
ID# 2774505
In United States, privately
held corporations are not required to publish any financials.
On a direct call, nobody
accepted to answer any questions.
We sent a mail and will let
you know if we receive and answer.
However, estimate sales for
year 2014 is in the range of USD 500,000=
Banks: HSBC Bank
…
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
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Trade references:
Date reported: April 2015
High credit: USD 1,000+
Now owing: 0
Past due: 0
Last purchase: March 2015
Line of business Office
supply
Paying status: As agreed
Date reported: April 2015
High credit: USD 8,000+
Now owing: 0
Past due: 0
Last purchase: March 2015
Line of business: Payroll
Paying status: As agreed
Date reported: April 2015
High credit: USD 180
Now owing: 0
Past due: 0
Last purchase: March 2015
Line of business:
Telecommunications
Paying status: On terms
National Credit Bureaus
gave a correct credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on terms.
The Company is using the services of the factor THE CIT GROUP/COMMERCIAL SERVICES, INC.
Payments of imports are currently made on terms.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is low.
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.63.57 |
|
|
1 |
Rs.100.30 |
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Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SHG |
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.