|
Report No. : |
350308 |
|
Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
HANSEN TECHNOLOGIES CORPORATION |
|
|
|
|
Registered Office : |
400 Quadrangle Drive, Ste F,
Bolingbrook, IL 60440 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
11.02.1982 |
|
|
|
|
Legal Form : |
Corporation – Profit |
|
|
|
|
Line of Business : |
Designing and manufacturing components
for large industrial and commercial refrigeration systems. |
|
|
|
|
No. of Employee : |
96 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. US firms are at or near the forefront in technological advances,
especially in computers, pharmaceuticals, and medical, aerospace, and military
equipment; however, their advantage has narrowed since the end of World War II.
Based on a comparison of GDP measured at Purchasing Power Parity conversion
rates, the US economy in 2014, having stood as the largest in the world for
more than a century, slipped into second place behind China, which has more
than tripled the US growth rate for each year of the past four decades.
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.
Long-term
problems for the US 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.
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 such as China, has put additional downward pressure on wages
and upward pressure on the return 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 and oil has a major impact on the
overall health of the economy. 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, the US Congress established a $700 billion
Troubled Asset Relief Program (TARP) in October 2008. 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 2014, the direct costs of the wars totaled more than $1.5
trillion, 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 dropped below 6.5% or inflation rose 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 ended the purchases during the summer of 2014. In
2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by
mid-2015, the lowest rate of joblessness since before the global recession
began; inflation stood at 1.7%, and public debt as a share of GDP continued to
decline, following several years of increase.
|
Source
: CIA |
Company name: HANSEN
TECHNOLOGIES CORPORATION
Address: 400
Quadrangle Drive, Ste F, Bolingbrook, IL 60440 - USA
Telephone: +1
630-325-1565
Fax: +1
630-325-1572
Website: www.hantech.com
Corporate ID#: 52647401
State:
Illinois
Judicial form: Corporation
– Profit
Date incorporated: February 11, 1982
Stock: -
Value: -
Name of manager: Jim
EPHRAIM
Business:
Hansen Technologies specializes in
designing and manufacturing components for large industrial and commercial
refrigeration systems.
It offers a range of industrial quality
gas detection sensors, monitors and alert systems for refrigerants and other
common gases.
Hansen Technologies additionally provides
auto purgers, defrost controllers, level controls, pressure regulators, pumps,
strainers, temperature transducers and gauge, check, pressure relief and
gas-powered valves.
The company offers technical support and
product bulletins.
It also organizes refrigeration product
seminars for refrigeration systems operators, plant and facilities technicians,
refrigeration contractors, consulting professionals and applications engineers.
Hansen Technologies offers online order
placement options, as well as delivery services.
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.
No name of foreign suppliers available.
EIN: 36-3163774
Staff: 96
Operations & branches:
At the headquarters,
we find the corporate office.
The Company maintains
a factory located:
3475 Old Maysville Road
Commerce, GA 30529
The PO Box 945917, Atlanta, GA 30394
does not that business.
Shareholders:
As of September 6, 2000, Hansen
Technologies Corporation operates as a subsidiary of:
Roper Industries, Inc
6901 Professional
Parkway
Lakewood Ranch, FL
34240
(Public Company
listed with the NYSE under symbol ROP)
Management:
Jim EPHRAIM is the CEO.
Holly MARTIN is the CFO
David B. LINER is Secretary
Subsidiaries
And partnership: None
In United States,
privately held corporations are not required to publish any financials.
On a direct call, a financial
assistant controlled the present report.
Sales declared for
year 2014 is in the range of USD 15,000,000=
The business is
profitable.
Banks: Wells Fargo Bank
…
Legal filings & complaints:
As of today date, there is no legal filing
pending with the Courts.
Secured debts summary (UCC):
|
File Number |
Filing Date |
Secured Party |
|
07/31/2014 |
KMBS BUSINESS SOLUTIONS U.S.A., INC |
|
|
02/08/2011 |
WELLS FARGO FINANCIAL LEASING, INC. |
Haut du formulaire
Trade references:
Date reported: October 2015
High credit: USD 6,000
Now owing: 0
Past due: 0
Last purchase: September 2015
Line of business: Office supply
Paying status: 3 days beyond terms
Date reported: October 2015
High credit: USD 120,000
Now owing: 0
Past due: 0
Last purchase: August 2015
Line of business: Payroll
Paying status: As agreed
Date reported: October 2015
High credit: USD 660
Now owing: 0
Past due: 0
Last purchase: September 2015
Line of business: Telecommunications
Paying status: 3 days beyond terms
Domestic credit
history:
Domestic credit
history appears as follow:
|
Monthly
Payment Trends - Recent Activity |
|
National Credit
Bureaus gave a medium credit risk.
According to our credit analysts, during
the last 6 months, domestic payments were made with an average of 5 days beyond
terms.
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.
Last report was filed
on April 9, 2015.
The risk is
medium/low.
Our opinion:
A business connection
may be conducted.
Standard
& Poor’s
|
United
States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks,
Rising Debt Burden; Outlook Negative |
|
Publication
date: 05-Aug-2011 20:13:14 EST |
·
We have also removed both the short- and long-term ratings
from CreditWatch negative.
·
The downgrade reflects our opinion that the fiscal
consolidation plan that Congress and the Administration recently agreed to
falls short of what, in our view, would be necessary to stabilize the
government's medium-term debt dynamics.
·
More broadly, the downgrade reflects our view that the
effectiveness, stability, and predictability of American policymaking and
political institutions have weakened at a time of ongoing fiscal and economic
challenges to a degree more than we envisioned when we assigned a negative
outlook to the rating on April 18, 2011.
·
Since then, we have changed our view of the difficulties in
bridging the gulf between the political parties over fiscal policy, which makes
us pessimistic about the capacity of Congress and the Administration to be able
to leverage their agreement this week into a broader fiscal consolidation plan
that stabilizes the government's debt dynamics any time soon.
·
The outlook on the long-term rating is negative. We could
lower the long-term rating to 'AA' within the next two years if we see that
less reduction in spending than agreed to, higher interest rates, or new fiscal
pressures during the period result in a higher general government debt
trajectory than we currently assume in our base case.
TORONTO (Standard &
Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it
lowered its long-term sovereign credit rating on the United States of America
to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the
long-term rating is negative. At the same time, Standard & Poor's affirmed
its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's
removed both ratings from CreditWatch, where they were placed on July 14, 2011,
with negative implications.
The
transfer and convertibility (T&C) assessment of the U.S.--our assessment of
the likelihood of official interference in the ability of U.S.-based public-
and private-sector issuers to secure foreign exchange for
debt service--remains
'AAA'.
We lowered our long-term
rating on the U.S. because we believe that the prolonged controversy over
raising the statutory debt ceiling and the related fiscal policy debate
indicate that further near-term progress containing the growth in public
spending, especially on entitlements, or on reaching an agreement on raising
revenues is less likely than we previously assumed and will remain a
contentious and fitful process. We also believe that the fiscal consolidation
plan that Congress and the Administration agreed to this week falls short of
the amount that we believe is necessary to stabilize the general government
debt burden by the middle of the decade.
Our lowering of the
rating was prompted by our view on the rising public debt burden and our
perception of greater policymaking uncertainty, consistent with our criteria
(see "Sovereign
Government Rating Methodology and Assumptions ," June 30, 2011,
especially Paragraphs 36-41). Nevertheless, we view the U.S. federal
government's other economic, external, and monetary credit attributes, which
form the basis for the sovereign rating, as broadly unchanged.
We have taken the ratings
off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment
of 2011 has removed any perceived immediate threat of payment default posed by
delays to raising the government's debt ceiling. In addition, we believe that
the act provides sufficient clarity to allow us to evaluate the likely course
of U.S. fiscal policy for the next few years.
The
political brinksmanship of recent months highlights what we see as America's
governance and policymaking becoming less stable, less effective, and less
predictable than what we previously believed. The statutory debt ceiling and
the threat of default have become political bargaining chips in the debate over
fiscal policy. Despite this year's wide-ranging debate, in our view, the
differences between political parties have proven to be extraordinarily difficult
to bridge, and, as we see it, the resulting agreement fell well short of the
comprehensive fiscal consolidation program that some proponents had envisaged
until quite recently. Republicans and Democrats have only been able to agree to
relatively modest savings on discretionary spending while delegating to the
Select Committee decisions on more comprehensive measures. It appears that for
now, new revenues have dropped down on the menu of policy options. In addition,
the plan envisions only minor policy changes on Medicare and little change in
other entitlements,
the containment of which
we and most other independent observers regard as key to long-term fiscal
sustainability.
Our opinion is that
elected officials remain wary of tackling the structural issues required to
effectively address the rising U.S. public debt burden in a manner consistent
with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign
Government Rating Methodology and Assumptions," June 30, 2011,
especially Paragraphs 36-41). In our view, the difficulty in framing a
consensus on fiscal policy weakens the government's ability to manage public
finances and diverts attention from the debate over how to achieve more
balanced and dynamic economic growth in an era of fiscal stringency and
private-sector deleveraging (ibid). A new political consensus might (or might
not) emerge after the 2012 elections, but we believe that by then, the government
debt burden will likely be higher, the needed medium-term fiscal adjustment
potentially greater, and the inflection point on the U.S. population's
demographics and other age-related spending drivers closer at hand (see "Global
Aging 2011: In The U.S., Going Gray Will Likely Cost Even More Green, Now,"
June 21, 2011).
Standard & Poor's
takes no position on the mix of spending and revenue measures that Congress and
the Administration might conclude is appropriate for putting the U.S.'s
finances on a sustainable footing.
The act calls for as much
as $2.4 trillion of reductions in expenditure growth over the 10 years through 2021.
These cuts will be implemented in two steps: the $917 billion agreed to
initially, followed by an additional $1.5 trillion that the newly formed
Congressional Joint Select Committee on Deficit Reduction is supposed to
recommend by November 2011. The act contains no measures to raise taxes or
otherwise enhance revenues, though the committee could recommend them.
The act further provides
that if Congress does not enact the committee's recommendations, cuts of $1.2
trillion will be implemented over the same time period. The reductions would
mainly affect outlays for civilian discretionary spending, defense, and
Medicare. We understand that this fall-back mechanism is designed to encourage
Congress to embrace a more balanced mix of expenditure savings, as the
committee might recommend.
We note that in a letter
to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated
total budgetary savings under the act to be at least $2.1 trillion over the
next 10 years relative to its baseline assumptions. In updating our own fiscal
projections, with certain modifications outlined below, we have relied on the
CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to
include the CBO assumptions contained in its Aug. 1 letter to Congress. In general,
the CBO's "Alternate Fiscal Scenario" assumes a continuation of
recent Congressional action overriding existing law.
We view the act's
measures as a step toward fiscal consolidation. However, this is within the
framework of a legislative mechanism that leaves open the details of what is
finally agreed to until the end of 2011, and Congress and the Administration
could modify any agreement in the future. Even assuming that at least $2.1
trillion of the spending reductions the act envisages are implemented, we
maintain our view that the U.S. net general government debt burden (all levels
of government combined, excluding liquid financial assets) will likely continue
to grow. Under our revised base case fiscal scenario--which we consider to be
consistent with a 'AA+' long-term rating and a negative outlook--we now project
that net general government debt would rise from an estimated 74% of GDP by the
end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of
sovereign indebtedness is high in relation to those of peer credits and, as
noted, would continue to rise under the act's revised policy settings.
Compared with previous
projections, our revised base case scenario now assumes that the 2001 and 2003
tax cuts, due to expire by the end of 2012, remain in place. We have changed
our assumption on this because the majority of Republicans in Congress continue
to resist any measure that would raise revenues, a position we believe Congress
reinforced by passing the act. Key macroeconomic assumptions in the base case
scenario include trend real GDP growth of 3% and consumer price inflation near
2% annually over the decade.
Our revised upside
scenario--which, other things being equal, we view as consistent with the
outlook on the 'AA+' long-term rating being revised to stable--retains these
same macroeconomic assumptions. In addition, it incorporates $950 billion of
new revenues on the assumption that the 2001 and 2003 tax cuts for high earners
lapse from 2013 onwards, as the Administration is advocating. In this scenario,
we project that the net general government debt would rise from an estimated
74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
Our revised downside
scenario--which, other things being equal, we view as being consistent with a
possible further downgrade to a 'AA' long-term rating--features less-favorable
macroeconomic assumptions, as outlined below and also assumes that the second
round of spending cuts (at least $1.2 trillion) that the act calls for does not
occur. This scenario also assumes somewhat higher nominal interest rates for
U.S. Treasuries. We still believe that the role of the U.S. dollar as the key
reserve currency confers a government funding advantage, one that could change
only slowly over time, and that Fed policy might lean toward continued loose
monetary policy at a time of fiscal tightening. Nonetheless, it is possible
that interest rates could rise if investors re-price relative risks. As a
result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in
10-year bond yields relative to the base and upside cases from 2013 onwards. In
this scenario, we project the net public debt burden would rise from 74% of GDP
in 2011 to 90% in 2015 and to 101% by 2021.
Our revised scenarios
also take into account the significant negative revisions to historical GDP
data that the Bureau of Economic Analysis announced on July 29. From our
perspective, the effect of these revisions underscores two related points when
evaluating the likely debt trajectory of the U.S. government. First, the
revisions show that the recent recession was deeper than previously assumed, so
the GDP this year is lower than previously thought in both nominal and real
terms. Consequently, the debt burden is slightly higher. Second, the revised
data highlight the sub-par path of the current economic recovery when compared
with rebounds following previous post-war recessions. We believe the sluggish
pace of the current economic recovery could be consistent with the experiences
of countries that have had financial crises in which the slow process of debt
deleveraging in the private sector leads to a persistent drag on demand. As a
result, our downside case scenario assumes relatively modest real trend GDP
growth of 2.5% and inflation of near 1.5% annually going forward.
When comparing the U.S.
to sovereigns with 'AAA' long-term ratings that we view as relevant
peers--Canada, France, Germany, and the U.K.--we also observe, based on our
base case scenarios for each, that the trajectory of the U.S.'s net public debt
is diverging from the others. Including the U.S., we estimate that these five
sovereigns will have net general government debt to GDP ratios this year
ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%.
By 2015, we project that their net public debt to GDP ratios will range between
30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at
79%. However, in contrast with the U.S., we project that the net public debt
burdens of these other sovereigns will begin to decline, either before or by
2015.
Standard & Poor's
transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment
reflects our view of the likelihood of the sovereign restricting other public and
private issuers' access to foreign exchange needed to meet debt service.
Although in our view the credit standing of the U.S. government has
deteriorated modestly, we see little indication that official interference of
this kind is entering onto the policy agenda of either Congress or the
Administration. Consequently, we continue to view this risk as being highly
remote.
The outlook on the
long-term rating is negative. As our downside alternate fiscal scenario
illustrates, a higher public debt trajectory than we currently assume could
lead us to lower the long-term rating again. On the other hand, as our upside
scenario highlights, if the recommendations of the Congressional Joint Select
Committee on Deficit Reduction--independently or coupled with other
initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high
earners--lead to fiscal consolidation measures beyond the minimum mandated, and
we believe they are likely to slow the deterioration of the government's debt
dynamics, the long-term rating could stabilize at 'AA+'.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.