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MIRA
INFORM REPORT
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Report No. : |
491429 |
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Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
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Name : |
GP HARMON RECYCLING LLC |
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Registered Office : |
289 S Culver St,
Gwinnett, Lawrenceville, GA, 30046-4805 |
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Country : |
United Sates |
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Date of Incorporation : |
1970 |
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Legal Form : |
Domestic Limited Liability Company |
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Line of Business : |
Subject has been at
the forefront of the recycling industry, significantly reducing the amount of
materials sent to landfills so they can become new products that people use
every day. |
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No. of Employees : |
185 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
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Country Name |
Previous
Rating (30.06.2017) |
Current
Rating (30.09.2017) |
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United Sates |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED SATES - 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 has 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%.
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Source
: CIA |
STATUTORY INFORMATION |
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Legal Name: |
GP HARMON RECYCLING LLC |
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Trade Name: |
GP Harmon |
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ID: |
0690520 |
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Date Created: |
1970 |
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Date Incorporated: |
10/20/2006 |
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Legal Address: |
289 S Culver St,
Gwinnett, Lawrenceville, GA, 30046-4805 USA |
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Operative Address: |
2 Jericho Plz Ste 200 Jericho, NY, 11753 1681 United States |
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Telephone: |
(516) 997-3400 (516) 286-9505 |
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Fax: |
(516) 822-2702 |
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Legal Form: |
Domestic Limited Liability Company |
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Email: |
kaitrin.christ@gapac.com (Kait Christ, Trader) |
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Registered in: |
GEORGIA |
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Website: |
www.gpharmon.com |
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Contact: |
Norman Harvey, CEO |
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Staff: |
185 |
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Activity: |
Scrap and waste
materials |
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Banks: |
The company does not make its banking
data public |
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History: |
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The company was founded in 1970 |
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Key Developments: |
1970 Harmon established
as a strong regional fiber trading company specializing in selling kraft
grades to container board and gypsum mills 1980 Fort Howard Paper
Company purchases Harmon Harmon begins
procuring wastepaper for 100 percent recycled mills Established and
maintained brokerage business 1997 Fort Howard merges
with James River to form Fort James Corp. 2000 Brokerage business
continues to grow Assumes
responsibility for Fort James wastepaper mills Harmon
International is formed Trading business in
the U.K. and parts of Europe is developed Georgia-Pacific
acquires Fort James 2001 Harmon integrates
three Georgia-Pacific businesses: Wastepaper
purchasing for Georgia-Pacific’s container board mills Marketing of
recyclable materials from 51 box plants Consolidation of
Harmon and Georgia-Pacific recycling operations 2002 Harmon forms
relationship in Mexico to begin fiber trading in Latin America 2003 Harmon assumes
responsibility for purchasing recovered fiber for Georgia-Pacific plants in
France and the Netherlands 2004 Harmon forms WATER
LILY® joint marketing relationship with PACCESS in China 2005 Harmon launches
innovative, environmentally-centered pilot program to generate recovered
fiber from nonconventional resources GP Harmon Recycling
LLC was formerly known as Harmon Associates Corp. and changed its name to GP
Harmon Recycling LLC in August 2009. |
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PRINCIPAL ACTIVITY |
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Gp Harmon Recycling
Llc is a mid-sized organization in the scrap and waste material companies
industry located in Jericho, NY. |
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Products/Services description: |
For more than 40
years, GP Harmon has been at the forefront of the recycling industry,
significantly reducing the amount of materials sent to landfills so they can
become new products that people use every day. Products GP Harmon is a
formidable ally in the recycled fiber market, trading in a full array of
recycled fiber materials. We offer a variety of recycled fiber products
ranging from newsprint to specialty papers. -Corrugated: GP Harmon handles a wide range of
corrugated grades for containers and packaging. -Newsprint: GP Harmon handles a high volume of
groundwood grades of fibers generated by pre- and post-consumer sources. -Office Paper: GP Harmon handles office waste paper fibers
that are recycled back into printing and writing paper. -Printing
Paper: GP Harmon handles a large
volume of coated and uncoated printing and writing grades and types of papers
from U.S. and foreign mills. -Plastic/Metal: With mill customers worldwide, GP Harmon is
an ideal trading partner for a range of recyclable grades. -Specialty: GP Harmon offers an extensive bleach board
trading matrix and warehouse program. |
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Brands: |
GP Harmon |
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Sales are: |
Wholesale |
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Clients: |
Papelera Nacional SaPanasa Ecuador Harmon International Europe BV Netherlands Papeles Y Converciones De MexicoSa De Cv Mexico ABSORMEX CMPC TISSUE, S.A. DE C.V. Mexico Kimberly Clark De MexicoSa De Cv Mexico CelltradePvtltd. India Kimberly Clark PeruSrl Peru Three M PaperMfgcopvtltd. India |
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Suppliers: |
Pulp And Fibers Sa
De Cv Mexico |
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Operations area: |
National and International |
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The company imports from |
Mexico |
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The company exports to |
Worldwide |
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The subject employs |
185 employees |
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Payments: |
Slow |
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LOCATION |
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Headquarters: |
2 Jericho PlzSte 200 Jericho, NY, 11753 1681 United States |
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Comments: |
NA |
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Branches: |
The company has
many branches in the USA: In New York, Delaware, Pennsylvania, Maine, New
Hampshire, Vermont, Maryland, Texas, Connecticut, Georgia, Maryland, Alabama,
North Carolina, Virginia, etc. |
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Related Companies: |
The company has locations in Canada,
Latin America, Asia, Europe, and the Middle East. Harmon International Europe BV Netherlands The Highlands Group, Inc USA |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a private company. It is a
subsidiary of Georgia-Pacific Llc 133 Peachtree St Ne # 4810 Atlanta, GA USA Global Headquarters: Koch Industries,
Inc. 4111 E 37th St N Wichita, KS USA |
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Management: |
Norman Harvey, CEO Vince Bonfanti, Vice President Joyce Harvey, Vice President and
Treasurer Mark Forman, Chief Operating Officer Eric Schnell, Partner Paulette Grant, Export Operations
Manager Ernst A. Haverli, Executive Vice
President Bill Parker, Manager Kait Christ, Trader Victoria, Operator |
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FINANCIAL INFORMATION |
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The company does not make its financial statements
public. The following information has been provided by private sources: |
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USD2015 |
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Revenue |
183,653,000 |
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Cash flow |
Normal |
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LEGAL FILINGS |
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RENEWAL HISTORY |
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TRADEMARKS |
GP HARMON RECYCLING - Trademark Details Status: 700 - Registered Serial Number85500950 Registration Number4190097 Word MarkGP HARMON RECYCLING Status700 - Registered Status Date2012-08-14 Filing Date2011-12-21 Registration Number4190097 Registration Date2012-08-14 Mark Drawing3000 - Illustration: Drawing
or design which also includes word(s)/ letter(s)/number(s) Typeset Design Searches050101, 260127, 260521,
261713 - Evergreens and other trees or bushes of triangular or conical shape.
Circles containing irregular exterior lining or elements not amounting to a
decorative border. Triangles that are completely or partially shaded. Letters
or words underlined and/or overlined by one or more strokes or lines. Published for Opposition Date2012-05-29 Attorney NameChristine M. Cason Law Office Assigned Location CodeL20 Employee NameSUAREZ, MARIA VICTORIA SERVICE INNOVATION EXPERTISE - Trademark
Details Status: 700 - Registered Serial Number87057945 Registration Number5132423 Word MarkSERVICE INNOVATION EXPERTISE Status700 - Registered Status Date2017-01-31 Filing Date2016-06-02 Registration Number5132423 Registration Date2017-01-31 Mark Drawing3000 - Illustration: Drawing
or design which also includes word(s)/ letter(s)/number(s) Typeset Design Searches260103, 260109, 260117,
260121, 260126, 261709 - Incomplete circles (more than semi-circles).
Geometric figures, objects, humans, plants or animals forming or bordering
the perimeter of a circle. Two concentric circles. Circles that are totally
or partially shaded. Spirals, coils and swirls. Curved line(s), band(s) or
bar(s). Published for Opposition Date2016-11-15 Attorney NameChristine M. Cason Law Office Assigned Location CodeM20 Employee NameDEBUS, MERIDITH E. O - Trademark Details Status: 800 - Registered And Renewed Serial Number78592097 Registration Number3068081 Word MarkO Status800 - Registered And Renewed Status Date2016-04-15 Filing Date2005-03-22 Registration Number3068081 Registration Date2006-03-14 Mark Drawing3000 - Illustration: Drawing
or design which also includes word(s)/ letter(s)/number(s) Typeset Design Searches260103, 260109, 261709 -
Incomplete circles (more than semi-circles). Geometric figures, objects,
humans, plants or animals forming or bordering the perimeter of a circle. Curved
line(s), band(s) or bar(s). Published for Opposition Date2005-12-20 Attorney NameChristine M. Cason Law Office Assigned Location CodeL40 Employee NamePIGNATELLO, ELIZABETH NOTHING CAN BE BETTER THAN EVERYTHING -
Trademark Details Status: 605 - Abandoned - After
Publication Serial Number85186367 Word MarkNOTHING CAN BE BETTER THAN
EVERYTHING Status605 - Abandoned - After
Publication Status Date2013-02-20 Filing Date2010-11-29 Mark Drawing4000 - Standard character
mark Typeset Published for Opposition Date2011-04-26 Law Office Assigned Location CodeL50 Employee NameYONTEF, DAVID ERIC NOTHING IS UNDERRATED - Trademark
Details Status: 605 - Abandoned - After
Publication Serial Number85242247 Word MarkNOTHING IS UNDERRATED Status605 - Abandoned - After Publication Status Date2013-02-20 Filing Date2011-02-15 Mark Drawing4000 - Standard character
mark Typeset Published for Opposition Date2011-06-21 Law Office Assigned Location CodeM70 Employee NameBENMAMAN, ALICE MEDINA |
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UCC |
No records found. |
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LEGAL CASES |
Jul 26, 2016 Rosado v. GP Harmon
Recycling Plant Operation, LLC, et al. Jin Rui Group Inc v. GP Harmon Recycling
LLC et al. Filed: July 15, 2011 as 2: 2011cv05862. Counter Defendant: Jin Rui
Group Inc. Plaintiff: Jin Rui Group Inc. GP Harmon Recycling, LLC v. Heuchling et
al. Filed: August 27, 2009 as 2: 2009cv03732. Plaintiff: GP Harmon Recycling,
LLC. Defendant: Raymond Heuchlinget al. |
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OFAC Sanctions List Search |
The company is not listed in the OFAC
list. |
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SUMMARY |
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Founded in 2000, Gp Harmon Recycling Llc
is a mid-sized organization in the scrap and waste material companies
industry located in Jericho, NY. It has 185 full time employees and
generates estimated $183.653 USD million in annual revenue. It mainly imports from Mexico and
exports worldwide, operating within national and international companies. It is a subsidiary of Georgia-Pacific
Llc (133 Peachtree St Ne # 4810 Atlanta, GA, USA.) Global Headquarters: Koch Industries,
Inc. (4111 E 37th St N, Wichita, KS, USA.) This is an ACTIVE company incorporated
in GEORGIA in 2006. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Slow |
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CASH FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
Victoria |
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POSITION |
Operator |
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COMMENTS |
She confirmed legal
name, trade name, address and website. She refused to
provide further information about the company. She tried to transfer the call
to somebody in charge but that person was in a meeting outside the city. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.16 |
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|
1 |
INR 89.19 |
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Euro |
1 |
INR 78.75 |
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USD |
1 |
INR 64.40 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRI |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.