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MIRA INFORM REPORT
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Report No. : |
516607 |
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Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
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Name : |
EATON BROTHERS CORP. |
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Registered Office : |
P.O. Box 60, 3530 Lakeview Rd., Hamburg, New York, 14075-0060 |
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Country : |
United States |
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Financials (as on) : |
2016 (Summarized) |
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Date of Incorporation : |
07.02.1934 |
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Legal Form : |
Corporation |
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Line of Business : |
· Subject is a supplier of natural burlap fabrics and garden supplies. · The company offers natural burlap fabrics, Domestic Hardwood Stakes, Tree Care Products, Fall & Winter Protection Products · Jute/Sisal Twine, Fiberglass Trellises and more. |
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No. of Employees : |
9 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 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 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%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
EATON BROTHERS CORP. |
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Trade Name: |
EATON BROTHERS CORP. |
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ID: |
46436 |
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Date Created: |
1934 |
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Date Incorporated: |
FEBRUARY 07, 1934 |
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Legal Address: |
P.O. BOX 60, 3530 LAKEVIEW RD HAMBURG, NEW YORK, 14075-0060, USA |
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Operative Address: |
PO BOX 60 3530 LAKEVIEW RD HAMBURG, NEW YORK, 14075-0060, USA |
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Telephone: |
1-888-322-3530 (716) 649-8250 |
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Fax: |
716-649-9466 |
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Legal Form: |
CORPORATION |
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Email: |
Sales@EatonBrothers.com |
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Registered in: |
NEW YORK |
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Website: |
www.eatonbrothers.com |
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Contact: |
GARY E ALLEN - Chief Executive Officer |
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Staff: |
9 |
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Activity: |
NAICS 1: Lawn and Garden Tractor and Home Lawn and Garden Equipment
Manufacturing NAICS 2: Other Concrete Product Manufacturing SIC 1: Lawn And Garden Tractors And Equipment SIC 2: Tombstones, Precast Terrazzo Or Concrete |
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Banks
BANK OF AMERICA KEYBANK NATIONAL ASSOCIATION JAMESTOWN SAVINGS BANK CHARTER ONE BANK, N.A. |
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History
Eaton Brothers is a third-generation family business founded in 1934. |
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PRINCIPAL
ACTIVITY
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Eaton Brothers Corp is a supplier of natural burlap fabrics and garden
supplies. |
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Products/Services description: |
The company offers natural burlap fabrics, Domestic Hardwood Stakes,
Tree Care Products, Fall & Winter Protection Products Jute/Sisal Twine, Fiberglass Trellises and more. |
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Brands: |
The company does not have any brands of its own. |
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Sales are: |
Retail and Wholesale |
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Clients: |
Garden Industry |
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Suppliers: |
Premchand Jute & Industiries Pvt. Shree Shanti Polysacks Pvt. Churiwal Technopack Private Limited |
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Operations area: |
National |
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The company imports from |
INDIA |
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The subject employs |
9 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
PO BOX 60 3530 LAKEVIEW RD HAMBURG, NEW YORK, 14075-0060, USA |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
No related companies were found. |
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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: |
The company does not disclose information on shareholders. The following
information has been provided by private sources and could not be confirmed: The major holders of this company are: GARY E ALLEN RALPH D ALLEN |
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Management: |
GARY E ALLEN - Chief Executive Officer RALPH D ALLEN – President CHRISTOPHER ALLEN |
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FINANCIAL
INFORMATION
The company does not make its financial
statements public. The following information has been provided by private
sources: |
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USD 2016 |
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Sales |
2.000.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
No records found. |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
No records found. |
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TRADEMARKS |
SCATTER GRASS ARTIFICIAL GRASS FOR DECORATIVE PURPOSES Owned by: EATON BROTHERS CORP. Serial Number: 71665579 VELVETY ARTIFICIAL GRASS MATS FOR DECORATIVE PURPOSES Owned by: EATON BROTHERS CORP. Serial Number: 71665580 TREEKOTE PROTECTIVE SOLUTION FOR USE ON TREES, SHRUBS OR VINES AFTER PRUNING OR
GRAFTING TO COVER WOUNDS THEREON Owned by: EATON BROTHERS CORP. Serial Number: 71695389 LIFETIME Cemetery Vases of a Type Permanently Installed at the Grave Owned by: EATON BROTHERS CORP. Serial Number: 72109857 CASKA ROL Casket Placers Owned by: EATON BROTHERS CORP. Serial Number: 72109858 EATON Cemetary Markers and Signs, Nameplates, Casket Placers, Casket Drapes,
Ground Covers, Casket and Vault Handling Straps,… Owned by: EATON BROTHERS CORP. Serial Number: 72114102 |
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RENEWAL HISTORY |
Filing Date Name Type Entity Name JAN 06, 1939 Actual EATON BROTHERS CORP. FEB 07, 1934 Actual HAMBURG FLORAL MFG. CO., INC. |
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UCC |
Debtor Names: EATON BROTHERS
CORP. 3530 LAKEVIEW ROAD, HAMBURG, NY 14075-0000, USA Secured Party Names: KEYBANK
NATIONAL ASSOCIATION LOAN SERVICES OH-01-51-0544, 4910 TIEDEMAN ROAD, BROOKLYN, OH
44144-0000, USA KEYBANK NATIONAL ASSOCIATION LOAN SERVICES/OH-01-51-0544, 4910 TIEDEMAN ROAD, BROOKLYN, OH
44144-0000, USA KEYBANK NATIONAL ASSOCIATION LOAN SERVICES/OH-01-51-0544, 4910 TIEDEMAN ROAD, BROOKLYN, OH
44144-0000, USA KEYBANK NATIONAL ASSOCIATION LOAN SERVICES, OH-01-51-0544, 4910 TIEDEMAN ROAD, BROOKLYN, OH
44144-0000, USA KEYBANK NATIONAL ASSOCIATION LOAN SERVICES, OH-01-51-0544, 4910 TIEDEMAN ROAD, BROOKLYN, OH
44144-0000, USA File no. File Date Lapse Date Filing Type Pages 234383 11/04/1998 11/04/2003 Financing Statement 216174 11/06/2001 11/04/2003 Assignment 224295 11/16/2001 11/04/2003 Financing Statement Amendment 200307141326204 07/14/2003 11/04/2008 Continuation 200311281910782 11/28/2003 11/04/2008 Termination 200401150052329 01/15/2004 11/04/2008 Termination Debtor Names: EATON BROTHERS
CORP. 3530 LAKEVIEW ROAD, HAMBURG, NY 14075-0000, USA Secured Party Names: JAMESTOWN
SAVINGS BANK 311 EAST FAIRMOUNT AVENUE, LAKEWOOD, NY 14750-2008, USA File no. File Date Lapse Date Filing Type 216177 11/06/2001 11/06/2006 Financing Statement 200311281910756 11/28/2003 11/06/2006 Termination Debtor Names: EATON BROTHERS
CORP. 3530 LAKEVIEW RD., HAMBURG, NY 14075, USA Secured Party Names: CHARTER
ONE BANK, N.A. 1215 SUPERIOR AVENUE, CLEVELAND, OH 44114, USA RBS CITIZENS, N.A. ONE
CITIZENS PLAZA, PROVIDENCE, RI 02903, USA File no. File Date Lapse Date Filing Type 200312081944377 12/08/2003 12/08/2008 Financing Statement 200807035754911 07/03/2008 12/08/2013 Continuation 200807075761370 07/07/2008 12/08/2013 Assignment 201307175770787 07/17/2013 12/08/2018 Continuation |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
Founded in 1934, Eaton Brothers Corp. is a small organization in the
lawn and garden equipment manufacturers industry located in Hamburg, NY. It has 9 full time employees and generates an estimated $2 million in
annual revenue. The company operates nationally, mainly importing from India. It is
ACTIVE in business with no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
Chris |
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POSITION |
Sales |
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COMMENTS |
He confirmed the name of the 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.20 |
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1 |
INR 89.58 |
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Euro |
1 |
INR 78.79 |
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USD |
1 |
INR 67.84 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
NIT |
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
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Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
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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.