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Report No. : |
322698 |
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Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SPINRITE LP |
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Registered Office : |
320 Livingstone Avenue South, Listowel, Ontario N4W 1P7 |
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Country : |
Canada |
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Date of Incorporation : |
23.12.2003 |
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Legal Form : |
LP |
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Line of Business : |
Manufactures and distributes craft yarn products. |
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No. of Employee : |
375 |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 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. 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.
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Source
: CIA |
SPINRITE LP
Address: 320 Livingstone Avenue
South, Listowel, Ontario N4W 1P7 –
Canada
Telephone: +1
519-291-3780
Fax: +1 519-291-3232
Website: www.sprinriteyearns.com
Corporate ID#: MB-0004845499
State: Manitoba
Judicial form: LP
Date incorporated: 12-23-2003
Stock: -
Value: -
Name of manager:
Business:
Spinrite LP manufactures and distributes craft yarn products.
It was founded in 1952 and is based in Listowel, Canada.
It offers its products under the Bernat, Patons, Lily Sugar n Cream, and
Phentex brand names, to name a few.
The company sells its products through mass merchandisers, craft chain
stores, chain discount stores, independent specialty stores, and specialty
catalogues in the United States and Canada.
No name of foreign suppliers available.
Staff: 375
Operations & branches:
At the headquarters, we
find a factory, warehouse and office.
Shareholders:
SPINRITE INCOME FUND
320 Livingstone Avenue South, Listowel, Ontario N4W 1P7
The ultimate parent company is:
SENTINEL CAPITAL PARTNERS L.P.
Incorporated in Delaware on 12-27-1995
ID# 2556264
Management:
Ryan NEWELL is the President and CFO.
He serves as CFO and Secretary of Spinrite Income Fund.
Mr. Newell has been the CFO of Spinrite GP Inc. of Spinrite Income Fund since
January 2004 and serves as its Secretary. Mr. Newell joined Spinrite in 2002.
From 2000 to 2002, Mr. Newell served as Partner with the accounting firm Ward
& Uptigrove LLP.
From 1996 to 2000 he was an Audit Senior at Ernst & Young LLP.
Mr. Newell received a Bachelor of Business Administration degree from
Wilfrid Laurier University in Waterloo, Ontario and is a Chartered Accountant
Gordon MOFFAT is Vice President of Sales.
As far as we know, they are involved in other corporations, including:
- SPINRITE YARNS &
DYERS LIMITED
- SPINRITE GP INC.
- SPINRITE INC.
...
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
However, sales estimate for
year 2014 is in the range of CAD 50,000,000=
The business is said to be
profitable.
Banks: HSBC Bank
…
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary : None