MIRA INFORM REPORT

Report No. :	489985
Report Date :	06.02.2018

IDENTIFICATION DETAILS

Name :	ALTER TRADING CORPORATION
Registered Office :	400 E Court Ave, Des Moines, Ia, 50309
Country :	United States
Date of Incorporation :	1898
Legal Form :	Corporation
Line of Business :	· Subject operates as a ferrous and non-ferrous metals processing and recycling company for industrial clients and salvage operations in the United States. · It accepts borings, turnings, punchings, screw stock, stamping, and other scrap from industries in the Midwest; and sources products for consumers in the United States and internationally.
No. of Employees :	2,499

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Exist

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
United States	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

UNITED STATES - ECONOMIC OVERVIEW

The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. 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, businesses 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. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.

The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US 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, 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. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.

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.

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 Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - 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 further reduce them 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 increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.

Source : CIA

STATUTORY INFORMATION
Legal Name:	ALTER TRADING CORPORATION
Trade Names:	ALTER TRADING CORPORATION ALTER METAL RECYCLING MASON CITY IRON & METAL
ID:	107134
Date Created:	1898
Date Incorporated:	2/21/1986
Legal Address:	400 E COURT AVE, DES MOINES, IA, 50309, USA
Operative Address:	700 Office Parkway St. Louis, MO 63141-6884 United States
Telephone:	314-872-2400
Fax:	314-872-2420
Legal Form:	CORPORATION
Email:	info@altertrading.com
Registered in:	IOWA
Website:	www.altertrading.com
Contact:	Mr. Jay Robinovitz - President and Chief Executive Officer
Staff:	2,499
Activity:	NAICS 1: Recyclable Material Merchant Wholesalers SIC 1: Ferrous Metal Scrap And Waste
Banks
BANK OF AMERICA GE GOVERNMENT FINANCE, INC. WELLS FARGO EQUIPMENT FINANCE, INC. CISCO SYSTEMS CAPITAL CORPORATION PEOPLE'S CAPITAL AND LEASING CORP TCF EQUIPMENT FINANCE, INC. TOYOTA MOTOR CREDIT CORPORATION
History
The company was founded in 1898 and is based in St. Louis, Missouri.
Parent Company:	The company operates as a subsidiary of: Goldstein Group, Inc. 2117 State Street Suite 300 Bettendorf, IA 52722-5030 United States
PRINCIPAL ACTIVITY
Alter Trading Corporation operates as a ferrous and non-ferrous metals processing and recycling company for industrial clients and salvage operations in the United States.
Products/Services description:	It accepts borings, turnings, punchings, screw stock, stamping, and other scrap from industries in the Midwest; and sources products for consumers in the United States and internationally.
Brands:	ALTER METAL RECYCLING MASON CITY IRON & METAL
Sales are:	Wholesale
Clients:	Tzyh Shyang Industrial Co., Ltd. Ningbo Hanying Recycling Resources Grand Metal Macao Commercial Offshore Limited Longteng Huaxiang Trading Limited Taizhou Chicho-tiande Metals Co Ao Xiang Trading Co., Ltd Grand Metal Mco Ltd
Suppliers:	Protec Srl Kovohuty Dolny Kubin S.R.O
Operations area:	National and International
The company imports from	ITALY SLOVAKIA
The company exports to	TAIWAN CHINA
The subject employs	2,499 employees
Payments:	Slow but correct
LOCATION
Headquarters :	700 Office Parkway St. Louis, MO 63141-6884 United States
Comments on Address:	-
Branches:	The company has several branches. Some of them are: Alter Trading Corporation (Branch Location) 1962 E Aurora Ave Des Moines, Iowa 50313-3901 United States Alter Trading Corporation (Branch Location) 501 E Stewart St Bloomington, Illinois 61701-6863 United States Alter Trading Corporation (Branch Location) 619 E 6th St Hattiesburg, Mississippi 39401-1808 United States Alter Trading Corporation (Branch Location) 2525 East Paris Ave Se # 100 Grand Rapids, Michigan 49546-2455 United States
Related Companies:	No related companies were found.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	The company does not disclose information on shareholders. The following information has been obtained through private sources. Goldstein Group, Inc. 2117 State Street Suite 300 Bettendorf, IA 52722-5030 United States This information was confirmed by the company.
Management:	Mr. Jay Robinovitz - President and Chief Executive Officer Mr. Robert S. Goldstein – Executive Chairman Mr. Michael Goldstein – Corporate Vice President of Operations Mr. Timothy C. Oliver - Chief Financial Officer and Senior Vice President Mr. Robert G. Ellis - Senior Vice President and General Counsel Ms. Robin Cai - Head of Shanghai Office
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	920.000.000
Cash flow	Normal
LEGAL FILINGS
PATENTS	No records found.
GOVERNMENT CONTRACTS	No records found.
CASES	Huerta v. Alter Trading Corporation Plaintiff: Gerardo Huerta Defendant: Alter Trading Corporation Case Number: 2:2015cv01463 Filed: December 8, 2015 Court: Wisconsin Eastern District Court Office: Milwaukee Office County: Milwaukee Presiding Judge: Rudolph T Randa Nature of Suit: Fair Labor Standards Act Cause of Action: 29:201 Jury Demanded By: Plaintiff Rech v. Alter Trading Corporation Plaintiff: Gerri M. Rech Defendant: Alter Trading Corporation Case Number: 0:2017cv02117 Filed: June 19, 2017 Court: Minnesota District Court Office: DMN Office County: Ramsey Presiding Judge: Richard H. Kyle Referring Judge: Katherine M. Menendez Nature of Suit: Employment Cause of Action: 42:2000 Jury Demanded By: Both Alter Trading Corporation v. Brion Plaintiff: Alter Trading Corporation Defendant: Derrick Brion Case Number: 4:2016cv01397 Filed: August 30, 2016 Court: Missouri Eastern District Court Office: St. Louis Office County: St. Louis - County Presiding Judge: Ronnie L. White Nature of Suit: Other Contract Cause of Action: 28:1332 Jury Demanded By: None
TRADEMARKS	ALTER TRADING CORPORATION SCRAP DEALERSHIP SERVICES Owned by: ALTER TRADING CORPORATION Serial Number: 73719355 ALTER METAL RECYCLING Brokerage of scrap metal Owned by: ALTER TRADING CORPORATION Serial Number: 77220382 A Brokerage of scrap metal Owned by: ALTER TRADING CORPORATION Serial Number: 77220369 WRENCH-N-GO RETAIL STORE AND COMPUTERIZED ON-LINE RETAIL STORE SERVICES FEATURING USED AUTOMOTIVE PARTS Owned by: ALTER TRADING CORPORATION Serial Number: 78220211
RENEWAL HISTORY	A14107134 1 3/31/2014 3/31/2014 BIENNIAL REPORT A16107134 1 3/28/2016 3/28/2016 BIENNIAL REPORT
UCC	Type B/P Name Address 1 Address 2 City ST Debtor B ALTER TRADING CORPORATION 689 CRAIG ROAD ST. LOUIS MO 63141 Secured B GE GOVERNMENT FINANCE, INC. 8400 NORMANDALE LAKE BOULEVARD, SUITE 470 MINNEAPOLIS MN 55437 Secured B GE GOVERNMENT FINANCE, INC. PO BOX 35713 BILLINGS MT 59107-5713 Assignee B WELLS FARGO EQUIPMENT FINANCE, INC. PO BOX 35713 BILLINGS MT 59107-5713 Type B/P Name Address 1 Address 2 City ST Debtor B ALTER TRADING CORPORATION 689 CRAIG ROAD ST. LOUIS MO 63141 Secured B CISCO SYSTEMS CAPITAL CORPORATION 170 W. TASMAN DRIVE MS SJ13-3 SAN JOSE CA 95134 Type B/P Name Address 1 Address 2 City ST Debtor B ALTER TRADING CORPORATION 700 OFFICE PARKWAY ST. LOUIS MO 63141 Secured B PEOPLE'S CAPITAL AND LEASING CORP 255 BANK STREET WATERBURY CT 06702 Type B/P Name Address 1 Address 2 City ST Debtor B ALTER TRADING CORPORATION 700 OFFICE PARKWAY ST LOUIS MO 63141 Secured B TCF EQUIPMENT FINANCE, INC. 11100 WAYZATA BLVD. STE 801 MINNETONKA MN 55305 Type B/P Name Address 1 Address 2 City ST Debtor B ALTER TRADING CORPORATION 626 SCHMIDT ROAD DAVENPORT IA 52802 Secured B TOYOTA MOTOR CREDIT CORPORATION P. O. BOX 3457 TORRANCE CA 90510-3457
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
Founded in 2006, Alter Trading Corporation is a large-sized organization in the scrap and waste material company’s industry located in Saint Louis, MO. It has 2,499 full time employees and generates an estimated $920 million in annual revenue. The company operates nationally and internationally, mainly importing from Italy and Slovakia. It is ACTIVE in business with medium credit risk.
RISK INFORMATION
DEBTS	Medium
PAYMENTS	Slow but correct
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Alison
POSITION	Export Manager
COMMENTS	She confirmed the name of the parent company, the address of the headquarters and location, the date of creation of the company, the number of employees and the name of the Chief Executive Officer.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.03
UK Pound	1	INR 90.40
Euro	1	INR 79.73
USD	1	INR 64.22

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	SYL

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.