|
|
|
MIRA
INFORM REPORT
|
Report No. : |
494995 |
|
Report Date : |
05.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SEA FRESH U.S.A., INC. |
|
|
|
|
Registered Office : |
45 All American Way P.O. Box 398 North Kingstown, RI, 02852 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
09.02.1983 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Subject is wholesale distribution of fresh,
cured, or frozen fish and seafood. |
|
|
|
|
No. of Employees : |
33 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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: |
SEA FRESH U.S.A., INC. |
|
Trade
Names: |
SEA FRESH U.S.A., INC. |
|
ID: |
000009631
|
|
Date Created: |
1983 |
|
Date Incorporated: |
09/02/1983 |
|
Legal Address: |
45 ALL AMERICAN WAY P.O. BOX 398 NORTH KINGSTOWN, RI, 02852, USA |
|
Operative Address: |
45 ALL AMERICAN WAY P.O. BOX 398 NORTH KINGSTOWN, RI, 02852, USA |
|
Telephone: |
(401)-583-0200 |
|
Fax: |
(401)-583-0222 |
|
Legal Form: |
CORPORATION |
|
Email: |
paul@seafreshusa.com |
|
Registered in: |
RHODE ISLAND |
|
Website: |
www.seafreshusa.com |
|
Contact: |
JAMES R FOX - President |
|
Staff: |
33 |
|
Activity: |
NAICS 1: Fish and Seafood Merchant
Wholesalers SIC 1: Fish, Cured |
|
|
|
|
Banks: |
BANK OF AMERICA FLEET NATIONAL BANK |
|
|
|
|
History: |
The company was founded in 1983. |
|
|
|
PRINCIPAL ACTIVITY |
|
|
The company's line of business includes
the wholesale distribution of fresh, cured, or frozen fish and seafood. |
|
|
Products/Services description: |
The company offers Squid, Tuna,
Monkfish, Skate, Whole Fish, Smoked Fish and Fillets. |
|
Brands: |
SEA FRESH |
|
Sales are: |
Wholesale |
|
Clients: |
Retailers |
|
Suppliers: |
Seachamp International Export Yantai Yuyuan Aquatic Product Co., Ltd. Dalian Donglin Food Co Ltd Shantou Hypo Seafood Ltd. Cabomar Congelados, S.A.U. |
|
Operations area: |
National |
|
The company
imports from |
CHINA SPAIN |
|
The company exports to |
No export records found. |
|
The subject employs |
33 employees |
|
Payments: |
Regular |
|
|
|
LOCATION |
|
|
Headquarters : |
45 ALL AMERICAN WAY P.O. BOX 398 NORTH KINGSTOWN, RI, 02852, USA |
|
Comments on Address: |
This business is located at 45 All
American Way, a commercial address in North Kingstown, RI. The industrial property has an estimated
value of $1.39 million USD, which is slightly above average for industrial
properties in the area. When the building was last assessed in 2012, the
assessment value was $1.39 million USD. With 20,684 square feet of space, this
building is one of the largest industrial properties in the 02852 zip code.
The average industrial property in the area has around 2,956 square feet. |
|
Branches: |
Sea Fresh USA Inc: Portland 11 Portland Fish Pier Portland, Maine 04101, USA |
|
Related Companies: |
Handrigan Seafood: Pt. Judith 280 Great Island Rd./ P.O. Box 786 Narragansett, RI, USA 02882 Fox Seafood: Narragansett - Now owned by
John LaFountain P.O. Box 464 Wakefield, RI, USA 02880 24 Walt's Way Narragansett, RI, USA 02882 |
|
|
|
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: The major holder of this company is: JAMES R FOX |
|
Management: |
James R Fox - President Cheryl Anyzeski – Accounting Martin Fox – Website |
|
|
|
FINANCIAL INFORMATION
|
|
|
The company
does not make its financial statements public. The following information has
been provided by private sources: |
|
|
|
|
|
USD 2016 |
|
|
Assets |
3.240.000 |
|
Cash flow |
Normal |
|
|
|
LEGAL FILINGS |
|
|
|
|
|
CASES |
FISHERIES SURVIVAL FUND et al v. JEWELL
et al Plaintiff: FISHERIES SURVIVAL FUND,
BOROUGH OF BARNEGAT LIGHT, NJ, TOWN DOCK, SEAFREEZE SHORESIDE, SEA FRESH USA,
GARDEN STATE SEAFOOD ASSOCIATION, RHODE ISLAND FISHERMEN'S ALLIANCE,
LONG ISLAND COMMERCIAL FISHING ASSOCIATION, INC., TOWN OF NARRAGANSETT, RHODE
ISLAND, NARRANGANSETT CHAMBER OF COMMERCE, CITY OF NEW BEDFORD, MASSACHUSETTS
and POINT PLEASANT (NJ) DOCK CO-OPERATIVE Defendant: SALLY JEWELL and BUREAU OF
OCEAN ENERGY MANAGEMENT Case Number: 1:2016cv02409 Filed: December 8, 2016 Court: District Of Columbia District
Court Office: Washington, DC Office County: 88888 Presiding Judge: Tanya S. Chutkan Nature of Suit: Other Statutory Actions Cause of Action: 42:4332 Jury Demanded By: None |
|
|
|
|
RENEWAL HISTORY |
Type of Filing Year Filed Filed
Date FilingNum Annual Report 2018 1/31/2018 10:28:00
AM 201857146330 Annual Report 2017 1/17/2017 12:36:00
PM 20173018022 Annual Report 2016 1/7/2016 2:34:00 PM
201690202240 Annual Report 2015 1/29/2015 12:38:00
PM 201554327410 Annual Report 2014 1/15/2014 4:00:00
PM 201433026500 Statement of Change
of Registered/Resident Agent 1/15/2014 11:22:00 AM 201433026690 Annual Report 2013 1/11/2013 4:00:00
PM 201309579640 Annual Report 2012 1/9/2012 4:00:00 PM
201287732530 Annual Report 2011 1/11/2011 4:00:00
PM 201173429870 Annual Report 2010 1/15/2010 4:00:00
PM 201056417790 Annual Report 2009 1/29/2009 4:00:00
PM 200941531740 Annual Report 2008 1/9/2008 4:00:00 PM
200805435380 Annual Report 2007 1/5/2007 |
|
|
|
|
UCC |
UCC Filing Number: 201008286290 Filing Date:1/26/2010 3:33:00 PM Debtor(s): SEA FRESH U.S.A., INC. 45 ALL AMERICAN WAY NORTH KINGSTOWN RI 02852 Secured Parties: BANK OF AMERICA, N.A. 111 WESTMINSTER STREET PROVIDENCE RI 02903 UCC Filing Number: 201414588120 Filing Date:12/12/2014 11:49:00 AM Debtor(s): SEA FRESH U.S.A., INC. 45 ALL AMERICAN WAY NORTH KINGSTOWN RI 02852 Secured Parties: BANK OF AMERICA, N.A. 111 WESTMINSTER STREET PROVIDENCE RI 02903 UCC Filing Number: 631096 Filing Date:12/8/1994 12:00:00 AM Debtor(s): SEA FRESH U.S.A., INC. PORT OF GALILEE NARRAGANSETT RI 02882 Secured Parties:FLEET NATIONAL BANK 111 WESTMINSTER STREET ATTN: LOAN DOCUMENTATION PROVIDENCE RI 02903 UCC Filing Number: 631096 Filing Date:12/8/1994 12:00:00 AM Debtor(s): SEA FRESH U.S.A., INC. PORT OF GALILEE NARRAGANSETT RI 02882 Secured Parties: FLEET NATIONAL BANK 111 WESTMINSTER STREET ATTN: LOAN DOCUMENTATION PROVIDENCE RI 02903 UCC Filing Number: 700082 Filing Date:8/5/1999 12:00:00 AM Debtor(s): SEA FRESH U.S.A., INC. PORT OF GALILEE NARRAGANSETT RI 02882 Secured Parties: FLEET NATIONAL BANK 111 WESTMINSTER STREET ATTN: LOAN DOCUMENTATION PROVIDENCE RI 02903 |
|
|
|
|
OFAC Sanctions List Search |
The company is not listed in the OFAC
list. |
|
|
|
|
|
|
SUMMARY |
|
|
Founded in 1983, Sea Fresh U.S.A., Inc.
is a mid-sized organization in the fish and seafood company’s industry
located in North Kingstown, RI. It has 33 full time employees and
generates an estimated $3.2 million in annual estimated assets. The company operates nationally, mainly
importing from China and Spain. It is ACTIVE in business with no negative
records. |
|
RISK INFORMATION |
|
|
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
Regular |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
|
|
INTERVIEW |
|
|
NAME |
Dale |
|
POSITION |
Sales |
|
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 President. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.23 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50 |
|
US Dollar |
1 |
INR 65.04 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRU |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.