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If you want to know more, ASKMORE TM
modeFinance’s credit report.
Almost every day millions of peoplearound the world are wondering the realcreditworthiness of the companies withwhich they are in business. Every daythese questions remain unanswered.modeFinance
TM
now aims to answer thesequestions in a simple, complete andimmediate way.
ASKMORETM
is the modeFinanceTM
product which gives the chance toevaluate the credit risk for every companyfrom all around the world.
ASKMORETM plans 3 types of reports:
s-peek Basic Plus
ASKMORETM
Basic:This report includes modeFinance TM
’ sMORE Credit Ratings and MORE CreditLimit to help you in the decision making.It covers all essential information includingfinancial statements of the last three yearsand descriptive information including tradedescription and sector analysis.This report type is ideally suited fordecisions on transactions with each levelof credit risk.
modeFinanceTM HeadquarterBuilding A - AREA Science ParkPadriciano 99 - 34149 Trieste - ItalyPh.: +39 040 375 5337Fax: +39 040 375 [email protected]
askMORETM is a registered mark of modeFinanceTM
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAAnot
available
non return extremlypathological
pathological highdanger
weak sufficient adequate good very
strongextremely
strong
Company name ORCHARD SUPPLY HARDWARE STORES CORPORATION
Identification number
Country United States of America
ZIP code and city 95119 - SAN JOSE
Address 6450, VIA DEL ORO
+1 408 281 3500
www.osh.com
Legal form
Account Consolidated
Incorporation date 31/03/1989
NACE 2 Sector 4778 - Other retail sale of new goods in specialised stores
Listed
Status Active
MORE Credit limit Not eligible for credit on the base of the available informations
Black records Available on request
02/02/2013 28/01/2012 29/01/2011
Turnover (th e) 499,558 501,959 508,740
Rating C CCC B
Probability of default 62.71% 16.15% 3.25%
Confidence Level 72% 72% 72%
Solvency ratios
Leverage ratio -14.31 5.33 5.43
Financial Leverage -8.54 3.04 3.45
Total asset/Total liabilities 0.93 1.19 1.18
Liquidity ratios
Current Ratio 0.66 1.51 1.70
Quick Ratio 0.09 0.28 0.34
Cash Cycle Ratio 76.00 68.00 66.00
Profitability ratios
Return on investement ROI (%) - - -
Return on equity ROE (%) -386.72 -16.74 8.89
Asset turnover 1.61 1.21 1.05
Gross Profit/Operating revenue 0.31 0.33 0.35
Interest Coverage ratios
EBIT interest coverage ratio - - -
Analysis and trend of financial
strength
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Sector Analysis
Company Healthy Balanced Vulnerable Risky
Solvency ratios
Leverage ratio -14.31 0.59 2.12 5.29 3.48
Financial Leverage -8.54 0.03 0.65 2.75 0.07
Total asset/Total liabilities 0.93 2.69 1.47 1.14 1.00
Liquidity ratios
Current Ratio 0.66 2.44 1.47 1.21 0.97
Quick Ratio 0.09 1.90 1.17 0.83 0.55
Cash Cycle Ratio 76.00 - - - -
Profitability ratios
Return on investement ROI (%) - 10.62 4.94 1.91 -6.09
Return on equity ROE (%) -386.72 10.98 8.61 1.33 -69.04
Asset turnover 1.61 1.88 2.21 1.79 2.27
Gross Profit/Operating revenue 0.31 0.39 0.30 0.26 0.26
Interest Coverage ratios
EBIT interest coverage ratio - 113.30 6.13 0.96 -4.20
Cash Conversion Cycle (days)
Days Sales Of Inventory (DIO) 95 14 16 26 36
Days Sales Outstanding (DSO) 0 30 30 33 17
Days Payable Outstanding (DPO) 27 23 29 34 30
Cash Conversion Cycle (DIO + DSO - DPO) 68 24 23 31 19
Numer of analyzed companies - 452 962 514 83
(Average) Rating C AA BB B CC
The sector has been chosen according to:
international companies in the sector NACE 2 4778 with financial data of year 2013.
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Sector Analysis - Graphs
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Balance Sheet
BALANCE SHEET (th e) 02/02/2013 28/01/2012 29/01/2011
Accounting practice Local GAAP Local GAAP Local GAAP
Exchange rate USD - EUR 0.76 0.76 0.77
Number of months 12 12 12
Total assets 309,634 415,342 485,094
Fixed assets 157,589 268,106 318,845
Intangible fixed assets 22,610 101,776 111,997
Tangible fixed assets 127,941 159,875 202,485
Other fixed assets 7,038 6,455 4,363
Current assets 152,045 147,236 166,248
Stocks 130,253 119,830 132,479
Debtors 0 0 0
Other current assets 21,792 27,406 33,770
Cash & cash equivalent 4,964 6,192 12,015
Shareholders funds -23,264 65,587 75,485
Capital 12,608 12,608 46
Other shareholders funds -35,871 52,980 75,438
Total liabilities 332,897 349,755 409,609
Non current liabilities 103,402 251,975 311,672
Long term debt 35,680 193,156 245,575
Other non-current liabilities 67,721 58,819 66,098
Current liabilities 229,496 97,780 97,937
Loans 163,015 6,284 14,855
Creditors 36,338 43,537 52,193
Other current liabilities 30,142 47,959 30,889
Total shareh. funds & liab. 309,634 415,342 485,094
NET DEBT (th e) 02/02/2013 28/01/2012 29/01/2011
Short term debts 163,015 6,284 14,855
Long term debt 35,680 193,156 245,575
Cash & cash equivalent 4,964 6,192 12,015
Net debt 193,732 193,247 248,414
02/02/2013 28/01/2012 29/01/2011
Working capital - - -
Net Current Assets -77,451 49,456 68,311
02/02/2013 28/01/2012 29/01/2011
Days Sales Of Inventory (DIO) 95 87 95
Days Sales Outstanding (DSO) 0 0 0
Days Payable Outstanding (DPO) 27 32 37
Cash Conversion Cycle (DIO + DSO - DPO) 68 55 58
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Income Statement
INCOME STATEMENT (th e) 02/02/2013 28/01/2012 29/01/2011
Accounting practice Local GAAP Local GAAP Local GAAP
Exchange rate USD - EUR 0.76 0.76 0.77
Number of months 12 12 12
Sales 499,558 501,959 508,740
Revenues growth (%) 0 -1 -
Other revenues +/- variation in inventories and contract in progress + Fixed assets
own construction capitalized0 0 0
Operating revenue / turnover 499,558 501,959 508,740
Total operating costs 594,668 503,413 484,345
Costs growth (%) 18 4 -
Service costs - - -
Material costs - - -
Costs of employees - - -
EBITDA 13,998 23,562 48,664
Depreciation 109,108 25,016 24,269
EBIT -95,110 -1,454 24,395
Financial P/L -18,786 -17,755 -13,392
Financial revenue -18,786 -17,755 -13,392
Financial expenses - - -
Interest paid - - -
P/L before tax -113,896 -19,209 11,003
Extr. and other P/L - - -
Extr. and other revenue - - -
Extr. and other expenses - - -
P/L before tax + Extr. and other P/L - - -
Taxation -23,930 -8,227 4,291
P/L for period -89,966 -10,982 6,712
02/02/2013 28/01/2012 29/01/2011
Costs of Good Sold 342,654 335,184 332,516
Gross Profit 156,904 166,775 176,224
Other Operating Expenses 252,014 168,229 151,829
02/02/2013 28/01/2012 29/01/2011
Cash flow 19,142 14,034 30,981
Added value - - -
02/02/2013 28/01/2012 29/01/2011
Number of employees 5,360 5,329 -
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Evolutions and trends
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Qualitative information
Full overview Not available.
History Not available.
Primary business line Not available.
Secondary business line Not available.
Main activity Not available.
Secondary activity Not available.
Main products and services Not available.
Size estimate Not available.
Strategy, organization and policy Not available.
Strategic alliances Not available.
Membership of a network Not available.
Main brand names Not available.
Main domestic country Not available.
Main foreign countries or regions Not available.
Main production sites Not available.
Main distribution sites Not available.
Main sales representation sites Not available.
Main customers Not available.
Black records
Available on request.
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Auditor/Advisor/Bank
name type address
DELOITTE & TOUCHE LLP Auditor -
Wells Fargo Bank N.A Transfer Agent -
Board
name date of birth nationality function
Mr. William C. Crowley - - Chairman of the Board
Mr. Mark R Baker - - President, Chief Executive Officer, Director
Mr. Matthew D Cwiertnia - - Independent Director
Mr. Kevin R Czinger - - Independent Director
Mrs. Susan L Healy - - Independent Director
Mrs. Karen M Rose - - Independent Director
Mr. Ravi Y Sarin - - Director
Mr. Bryant W Scott - - Independent Director
Shareholders (the first twenty shareholders ordered by Direct %)
ARES PARTNERS MANAGEMENT COMPANY LLC via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 0.18
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 2
Total % 19.87 Information date 12/2011
Address : Not available
ESL INVESTMENTS, INC. via its funds Rating:
Country ISO code US Operating Revenue (MIL $) -
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 0
Total % 19.69 Information date 12/2012
Address : Not available
FAIRHOLME CAPITAL MANAGEMENT, L.L.C.; FAIRHOLME FUNDS, INC.; BERKO-
WITZ R. BRUCE (COLLECTIVELY FAIRHOLM)Rating:
Country ISO code US Operating Revenue (MIL $) -
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % 11.95 Number of Employees -
Total % - Information date 04/2012
Address : Not available
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
FAIRHOLME CAPITAL MANAGEMENT LLC via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 1.3
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 14
Total % 10.05 Information date 12/2012
Address : Not available
ZIFF BROTHERS INVESTMENTS, L.L.C. via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 13.7
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 80
Total % 4.57 Information date 02/2013
Address : Not available
HORIZON KINETICS LLC via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 6.9
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 70
Total % 2.19 Information date 12/2012
Address : Not available
BLACKROCK, INC. via its funds Rating: BB
Country ISO code US Operating Revenue (MIL $) 9337
NACE Rev. 2, Core code - Total Assets (MIL $) 200451
Direct % - Number of Employees 10500
Total % 1.27 Information date 12/2012
Address : Not available
GUGGENHEIM CAPITAL, LLC via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 24
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 540
Total % 1.22 Information date 12/2012
Address : Not available
DIMENSIONAL FUND ADVISORS LP via its funds Rating: BB
Country ISO code US Operating Revenue (MIL $) 36.72
NACE Rev. 2, Core code - Total Assets (MIL $) 2186.66
Direct % - Number of Employees 260
Total % 0.62 Information date 12/2012
Address : Not available
STATE STREET CORPORATION via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 9681
NACE Rev. 2, Core code - Total Assets (MIL $) 222582
Direct % - Number of Employees 29660
Total % 0.54 Information date 12/2012
Address : Not available
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
NORTHERN TRUST CORPORATION via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 3896.04
NACE Rev. 2, Core code - Total Assets (MIL $) 97463.85
Direct % - Number of Employees 14156
Total % 0.51 Information date 12/2012
Address : Not available
VANGUARD GROUP, INC. THE via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 2017.7
NACE Rev. 2, Core code - Total Assets (MIL $) 1830.07
Direct % - Number of Employees 9500
Total % 0.49 Information date 12/2012
Address : Not available
LOCKHEED MARTIN CORP via its funds Rating: B
Country ISO code US Operating Revenue (MIL $) 47182
NACE Rev. 2, Core code - Total Assets (MIL $) 38657
Direct % - Number of Employees 120000
Total % 0.42 Information date 12/2012
Address : Not available
CHOU ASSOCIATES MANAGEMENT INC via its funds Rating:
Country ISO code CA Operating Revenue (MIL $) -
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 0
Total % 0.36 Information date 12/2012
Address : Not available
STATE OF TEXAS via its funds Rating:
Country ISO code US Operating Revenue (MIL $) -
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees -
Total % 0.31 Information date 12/2012
Address : Not available
INVESCO LTD. via its funds Rating: BB
Country ISO code BM Operating Revenue (MIL $) 4122.7
NACE Rev. 2, Core code - Total Assets (MIL $) 19347
Direct % - Number of Employees 0
Total % 0.30 Information date 12/2012
Address : Not available
RENAISSANCE TECHNOLOGIES HOLDINGS CORP. via its funds Rating:
Country ISO code US Operating Revenue (MIL $) -
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 0
Total % 0.29 Information date 12/2012
Address : Not available
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
CHARLES SCHWAB CORPORATION via its funds Rating:
Country ISO code US Operating Revenue (MIL $) 4931
NACE Rev. 2, Core code - Total Assets (MIL $) 133637
Direct % - Number of Employees 13800
Total % 0.28 Information date 12/2012
Address : Not available
STATE OF CALIFORNIA via its funds Rating:
Country ISO code US Operating Revenue (MIL $) -
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees -
Total % 0.28 Information date 12/2012
Address : Not available
MORGAN STANLEY SMITH BARNEY HOLDINGS LLC via its funds Rating:
Country ISO code US Operating Revenue (MIL $) -
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % - Number of Employees 0
Total % 0.26 Information date 12/2012
Address : Not available
Subsidiaries (the first twenty subsidiaries ordered by Direct %)
ORCHARD SUPPLY HARDWARE LLC Rating:
Country ISO code US Operating Revenue (MIL $) 683.1
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % MO Number of Employees 5329
Total % - Information date 02/2013
OSH PROPERTIES LLC Rating:
Country ISO code US Operating Revenue (MIL $) -
NACE Rev. 2, Core code - Total Assets (MIL $) -
Direct % MO Number of Employees -
Total % - Information date 02/2013
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
ASKMORE rating guide
General vision A credit rating is an opinion of the general creditworthiness of an obligor (issuer rating), or the creditworthiness of
an obligor in respect of a specific debt security, or other financial obligation (issue rating), based on relevant risk
factors.
The Multi Objective Rating Evaluation (MORE) model is essentially used to assess the level of distress of industrial
companies by using data included in financial statements.
The basic idea of the model is to analyze a set of financial and economic ratios in a predictive corporate bankruptcy
model with the purpose of creating a fundamental credit rating model for each industrial sector. Results of the
model are obtained by applying newly developed numerical methodologies, drawing together financial theory,
data mining and engineering design methodologies. The heart of MORE is a multi dimensional and multi objective
algorithm that produces a classification of each company, by taking into account any attributes (such as sector and
country) characterizing a firm.
The model gives the opportunity to assign a rating to a company even without considering a complete data analysis
and allows to process quality information. It induces a better understanding of a company’s strength and weakness
thanks to sophisticated data mining tools and taking into account the analyst knowledge.
The MORE rating vision is to look at the fundamental economics of the company. The main idea is to evaluate the
rating observing every aspect of the economical and financial behavior of the company: better is the equilibrium
between the different aspects, better will be the final rating.
This is done studying, evaluating and aggregating the most important sections of the financial and economic
behavior of a company such as: profitability, liquidity, solvency, interest coverage and efficiency.
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Rating scale
Rating class Rating macro class Assessment
AAA
Healthy
The company’s capacity to meet its financial commitments is extremely strong.
AA The company has very strong creditworthiness.
A The company has a high solvency.
BBB
Balanced
Capital structure and economic equilibrium are considered adequate.
BB The companyï¿ 12
s performances are adequate considering the sector and the country in which it is operating.
B
Vulnerable
The company presents vulnerable signals with regards to its fundamentals.
CCCThe company has a dangerous disequilibrium on the capital structure and on its economic and financial
fundamentals.
CC
Risky
The company shows signals of high vulnerability.
C The company shows considerable pathological situations.
D The company has not any longer the capacity to meet its financial commitments.
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Fundamental Credit Rating Ratios
Analysis area Ratio Assessment
Solvency ratios
Leverage ratioThis measures the level of total liabilities of the company in comparison
with equity.
Assets to debtThis indicates company’s solvency. The company shows a level of deficit
when the value of this ratio is under one unit.
Financial ratios Fixed Assets coverage ratioThis is calculated only for holdings. It measures the capital structure i.e.
whether a company covers the fixed assets with long term capital.
Liquidity ratios
Current ratioThis measures whether a company has sufficient short-term assets to cover
its short-term liabilities.
Quick ratioThis compares current liabilities only to those assets that can be readily
turned into cash.
Profitability and economic ratios
Return on Investement(ROI)This measures the profitability of company investments without regard to
the way the investment is financed.
Return on Equity(ROE) This measures the profitability of the equity.
Asset turnover
This indicates the investments turnover with regards to sales. The level
assumed from the ratio depends on the sector in which the company
operates.
Profit margin This indicates the profitability of sales.
Interest coverage ratio Interest Paid coverage
This indicate the ability of the company to cover interest expenses through
the economic margins (Gross profit and EBIT) and through the cash flow
from operating activities.
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
MORE Credit Limit, Probability of default and Confidence Level
MORE Credit Limit MORE Credit limit is the estimation of the amount of maximum credit that is possible to assign on a commercial
relationship with the analyzed company with an outlook of one year.
modeFinance used the following values associated with the company analyzed while computing the credit limit:
• Size;
• Years in Business;
• Average number of suppliers;
• Liquidity of the company and the comparison with its sector;
• The funds dedicated to be paid to suppliers;
• The likelihood that a company may pay its debts in the next 12 months (MORE Ratings).
The credit limit in this report is merely a suggested value of commercial credit limit calculated on the basis of annual
public data. This value should be reviewed by paying attention to the Confidence Level value and by using other
information such as other business information, news... etc; and private information such as the relationship with
client, history of payments, guarantees and the knowledge of the sector.
Probability of default e Confidence
Level
In addition to the MORE Rating, modeFinance also estimates the probability of default and provides a level of
confidence. The probability of default is the degree of certainty (in quantitative terms) that the company will go
into default.
As the probability of default is strongly affected by the economic climate that the company is operating in,
companies in the same MORE class will not necessarily have the same probability of default.
The MORE model can produce a MORE rating even if there is missing data by using an associated confidence level:
Confidence =
∑Available Information∑
Total Information
The level of confidence does not indicate financial confidence in the company. It is a reflection of the variations in
availability of financial data across Europe due to filing regulations and suggests the degree of financial detail the
MORE rating is able to take into account for each company.
For companies with fully populated records a confidence level of 100% would be applied: companies where no
financial data is provided, 0%. This puts the MORE rating in a context for the user and aids interpretation.
ORCHARD SUPPLY HARDWARESTORES CORPORATIONMonday, 17 June 2013
MORE Credit Rating
key
D C CC CCC B BB BBB A AA AAA
modeFinance TM srlVAT number [email protected]
Area Science Park,Padriciano 99. 34149 Trieste, ItalyTel. +39 040 3755337Fax +39 040 3756741
Notes and disclaimer
NOTES modeFinance has based the present analysis on the company available financial statements, coming from one or
more of the following sources: local providers, Commercial Register (Companies House), websites, modeFinance’s
database etc.
DISCLAIMER All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of
the publisher modeFinance. The facts of this report are believed to be correct at the time of publication but cannot
be guaranteed. Please note that the findings, conclusions and recommendations that modeFinance delivers will
be based on information gathered in good faith from both primary and secondary sources, whose accuracy we
are not always in a position to guarantee. As such modeFinance can accept no liability whatever for actions taken
based on any information that may subsequently prove to be incorrect.
Contacts
Company modeFinance
Products MORE rating
Where AREA Science Park
34149 Trieste, via Padriciano 99 - ITALY
Info [email protected]
web www.modefinance.com
Phone +39 040 3755337