MIRA INFORM REPORT

Report Date :

13.11.2007

IDENTIFICATION DETAILS

Name :	AZ CHEMICALS
Registered Office :	Po Box 550850 Jacksonville, Fl 32255-0850
Country :	United States
Date of Incorporation :	01 / 1977
Com. Reg. No.:	842743750
Line of Business :	Indus & Person SVC Paper

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	26 days beyond terms
Litigation :	Clear

Company Information

AZ CHEMICAL
PO BOX 550850
JACKSONVILLE, FL 32255-0850
(904) 928-8810

Business Identification Number:

842743750

File Established:

PRIOR TO 01/1977

SIC code:

INDUS & PERSON SVC PAPER WHLSNG - 5113

Matching Name and Address

This business is linked to the one displayed above. The report shows the best view of the business.

AZ CHEMICAL CO
4600 TOUCHTON RD E BLDG 100
JACKSONVILLE, FL 32246-8299

Executive Summary

  Intelliscore for AZ CHEMICAL

34.22

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

100

High risk

Low risk

MEDIUM TO HIGH RISK
21% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

	NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS
	NUMBER OF RECENT COLLECTION ACCOUNTS
	NUMBER OF TRADES WITH A HIGH BALANCE TO HIGH CREDIT RATIO
	BALANCES ON DELINQUENT OR DEROGATORY ACCOUNTS

  Current DBT range compared to all industries*

26 DBT
($3,665,200 Balance)

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 3 DBT

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections: details (PLACED 07/06-04/07)

2

Sum of legal filings:

$0

UCC filings: details (FILED 11/03-10/07)

4

Cautionary UCC filings present?

Yes**

Trade Information

Monthly average DBT:

19

Highest DBT previous 6 months:

32

Highest DBT previous 5 quarters:

32

Total continuous trades:

33

Current continuous trade balance:

$3,665,200

Trade balance of all trades (57):

$3,790,200

Average balance previous 5 quarters:

$2,776,640

Highest credit amount extended: details

$4,966,300

6 month balance range:

$1,262,200 - $5,046,000

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivable, Contracts, Hereafter Acquired Inventory, Leases, Notes Receivable or Proceeds.

  7 month DBT trends

90+

60

30

0

11

13

32

32

27

26

0

Apr07

May07

Jun07

Jul07

Aug07

Sep07

Current

  Quarterly DBT trends (previous 5 quarters)

90+

60

30

6

2

2

11

29

0

3Q06

4Q06

1Q07

2Q07

3Q07

Performance Analysis

Predicted DBT for 01/09/2008: 18 DBT

Payment Trend Indication:
Payments Are Increasingly Late

Industry payment comparison:
Has paid slower than 75% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CREDIT, and 0000000

Legal Filings and Collections

Collections
Date Placed	Status	Original Balance	Outstanding Balance	Date Closed	Agency	Agency Phone
04/2007	Open Account	$377	$377		RECEIVABLE MANAGEMENT SERVICES	(000) 000-0000
07/2006	Open Account	$40	$40		RECEIVABLE MANAGEMENT SERVICES	(000) 000-0000

Trade Payment Information

Trade Payment Experiences (Trade Lines With an (*) after date are newly reported)						Account Status Days Beyond Terms
Business Category	Date Reported	Last Sale	Payment Terms	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
ADVERTISNG	10/2007		NET 30		$0						CUST 4 YR
+AIR TRANS	09/2007			$5,600	$4,800	100%					CUST 26 YR
=BLDG MATRL	09/2007	09/2007	VARIED	$26,200	$22,000	44%	56%
BLDG MATRL	09/2007*	10/2003	NET10TH		$0
+BUS SERVCS	10/2007		VARIED	$2,600	$2,600	100%
+CHEMICALS	10/2007	09/2007	VARIED	$75,500	$49,500	98%		2%
COMMUN SVC	09/2007		NET 20	$200	$0						CUST 8 YR
+COMMUN SVC	09/2007		NET 30	$100	$100		100%				CUST 12 YR
+ELEC DISTR	09/2007*			$22,200	$22,200	100%					PROMPT
=ELEC EQUIP	10/2007		VARIED	$1,300	<$100		100%				CUST 36 YR
+ELEC EQUIP	09/2007	09/2007	CONTRCT	$27,100	$1,400	100%
+ELEC MFG	10/2007		VARIED	$21,600	$13,500	100%					CUST 7 YR
+ELEC SUPLR	11/2007		N10PRXO	$28,700	$11,300	99%	1%
ELEC SUPLR	09/2007*				$0
FACTOR	08/2007		NET 30		$0						CUST 7 YR
FRGHT FWRD	11/2007	03/2006	NET 30		$0
INDUS MACH	10/2007		NET 30		$0
-INDUS SUPL	10/2007	09/2007	VARIED	$3,800	$700	40%	21%	39%			CUST 16 YR
-INDUS SUPL	10/2007	10/2007	VARIED	$10,600	$100		4%	4%	92%		CUST 22 YR
-INDUS SUPL	10/2007	02/2007	VARIED	$600	$300	46%	24%	1%	29%		CUST 5 YR
-LUMBR&WOOD	09/2007	09/2007	VARIED	$4,966,300	$3,553,700	63%	4%	14%	1%	18%	CUST 22 YR
MACH DISTR	09/2007		VARIED	$3,300	$0
MACH DISTR	10/2007	10/2007	1/10N30	$700	$0						CUST 6 YR
MANUFCTRNG	09/2007	07/2007	NET 30	$1,600	$0						CUST 1 YR
-OFFC SUPPL	10/2007	09/2004	NET 30	$100	$100					100%	CUST 6 YR
PACKAGING	10/2007		NET 30	$700	$0						CUST 13 YR
PLUMBING	09/2007	06/2003	NET 30		$0
+SAFTY PROD	09/2007		NET 30	$600	$600	100%					CUST 6 YR
SAFTY PROD	07/2007	12/2002	NET 30		$0						CUST 8 YR
TELECOM	10/2007	07/2006	NET EOM	$100	$0						WRITE-OFF
TRANSPORTN	09/2007	04/1999	VARIED		$0						CUST 8 YR
+TRANSPORTN	09/2007	07/2007	NET 30	$7,500	$1,600	59%	35%	3%	3%		PAYS-SLOW
-TRNS EQUIP	10/2007		VARIED	$2,600	$2,600			100%
TRUCK DLR	10/2007		CONTRCT	$3,200	$0
WAREHOUSE	11/2007	11/1999	VARIED		$0						PROMPT
+WAREHOUSE	09/2007	09/2007	VARIED	$1,900	$200	100%					CUST 10 YR

Trade Payment Totals

Trade Payment Experiences				Account Status Days Beyond Terms
Type	Lines Reported	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
Continuously Reported	33	$5,192,500	$3,665,200	64%	4%	14%	1%	17%	DBT: 26
Newly Reported	3	$22,200	$22,200	100%					DBT: 0
Trade Lines Totals	36	$5,214,700	$3,687,400	64%	4%	14%	1%	17%	DBT: 26

Additional Payment Experiences

Trade Payment Experiences (Trade Lines With an (*) after date are newly reported)						Account Status Days Beyond Terms
Business Category	Date Reported	Last Sale	Payment Terms	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
AIR TRANS	11/2006		NET 30	<$100	$0						CUST 6 YR
BUS SERVCS	06/2006	05/2006	NET 30		$0
COMPUTERS	05/2005		CREDIT		$0						CUST 37 YR
DISTRIBUTR	06/2006		NET30		$0
ELEC DISTR	06/2005		SPECIAL		$0
-ELEC DISTR	06/2006		NET 30	$100	$100					100%
ELEC SUPLR	04/2005		VARIED		$0
-ELEC SUPLR	06/2007		NET30	$7,500	$100				100%
+FREIGHT	06/2007		VARIED	$32,000	$11,700	22%	77%	1%
-FRGHT FWRD	05/2007	03/2007	VARIED	$17,300	$200			100%
GROCERY	01/2005		DISCNT		$0						SATSFTRY
INDUS MACH	07/2006		NET	$40,500	$0
LUMBR&WOOD	02/2005	02/2004	NET 10	<$100	$0
-MANUFCTRNG	02/2007	12/2006	VARIED	$125,800	$70,000		41%	59%			CUST 6 YR
OFFC SUPPL	04/2006	11/1997	CREDIT		$0						ACCTCLOSED
TELECOM	06/2005		NET 30		$0
TELECOM	08/2006		NET 30	<$100	$0						CUST 11 YR
-TEMP HELP	10/2006		NET 10	$1,400	$200					100%	CUST 7 YR
-TRANSPORTN	11/2004		VARIED	$20,500	$20,500			5%	12%	83%
TRANSPORTN	08/2005		NET 15		$0						ACCTCLOSED
WAREHOUSE	02/2007	08/1998	VARIED		$0						PROMPT

Monthly Payment Trends

Payment Trends Analysis
INDUS & PERSON SVC PAPER WHLSNG INDUSTRY SIC: 5113

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

26

$3,665,200

64%

4%

14%

1%

17%

SEP07

86%

3

27

$3,611,000

62%

5%

14%

1%

18%

AUG07

84%

4

32

$3,668,500

42%

24%

24%

10%

JUL07

83%

4

32

$3,637,400

42%

24%

24%

10%

JUN07

82%

4

13

$5,046,000

65%

8%

27%

MAY07

85%

3

11

$2,734,400

28%

72%

APR07

83%

4

0

$1,262,200

98%

2%

Quarterly Payment Trends

Payment History - Quarterly Averages				Account Status Days Beyond Terms
Quarter	Months	DBT	Balance	Cur	1-30	31-60	61-90	91+
Q3 - 07	JUL-SEP	29	$3,635,200	50%	17%	5%	16%	12%
Q2 - 07	APR-JUN	11	$3,001,800	59%	26%	15%
Q1 - 07	JAN-MAR	2	$2,193,000	88%	12%
Q4 - 06	OCT-DEC	2	$2,995,200	96%		4%
Q3 - 06	JUL-SEP	6	$2,058,000	87%	2%	10%	1%

Inquiries

Summary of Inquiries
Business Category	NOV07	OCT07	SEP07	AUG07	JUL07	JUN07	MAY07	APR07	MAR07
BANK					2
Totals					2

UCC Profile

The UCC Filings are summarized and listed below.

UCC Summary		Filings
Date Range	Year	Cautionary UCCs^**	Total Filed	Released/ Term'd	Cont	Amended/ Assigned
JUL - PRESENT	2007		1
JAN - JUN	2007	1	1
JUL - DEC	2006
JAN - JUN	2006
JUL - DEC	2005
PRIOR TO JUL	2005		2
Total		1	4

** Cautionary UCC Filings include one or more of the following collateral:
Accounts, Accounts Receivable, Contracts, Hereafter Acquired Inventory, Leases, Notes Receivable or Proceeds.

 UCC Filings

UCC FILED Date: 10/08/2007

Filing Number: 200706722092

Jurisdiction: SEC OF STATE FLORIDA

Secured Party: DILLON SUPPLY COMPANY NC RALEIGH 27610 440 CIVIL BLVD.

Collateral: 

UCC FILED Date: 02/28/2007

Filing Number: 2007 0752237

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: GOLDMAN SACHS CREDIT PARTNERS L.P., AS C NJ JERSEY CITY 0730

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 02/01/2005

Filing Number: 5035478 8

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: AIR LIQUIDE INDUSTRIAL U S LP TX HOUSTON 77041 12800 WEST LI

Collateral: EQUIP

UCC FILED Date: 11/25/2003

Filing Number: 3310803 5

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: WELDWOOD FINANCE LIMITED CHRIST CHURCH WORTHING COR

Collateral: UNDEFINED

Commercial Finance Relationships

  Leasing Relationships

Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 12/2005

Original Lease Amount: $4,914

Lease Product Type: OFFICE EQUP

Lease Term: 39 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $126

Amount of Overdue Payments: $0

Remaining Balance: $3,780

Late Payments: 0

Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 12/2005

Original Lease Amount: $1,638

Lease Product Type: OFFICE EQUP

Lease Term: 39 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $42

Amount of Overdue Payments: $0

Remaining Balance: $1,260

Late Payments: 0

Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 12/2005

Original Lease Amount: $4,914

Lease Product Type: OFFICE EQUP

Lease Term: 39 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $126

Amount of Overdue Payments: $0

Remaining Balance: $2,142

Late Payments: 0

Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 12/2005

Original Lease Amount: $1,638

Lease Product Type: OFFICE EQUP

Lease Term: 39 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $42

Amount of Overdue Payments: $0

Remaining Balance: $714

Late Payments: 0

Company Background Information

  Additional Company Background Information

Primary SIC Code: INDUS & PERSON SVC PAPER WHLSNG - 5113

Secondary SIC Code: PAPER MILLS - 2621

Additional SIC Code: 2819 - 2861

Number of Employees: 150

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions