MIRA INFORM REPORT

Report Date :

16.11.2007

IDENTIFICATION DETAILS

Name :	STERLING JEWELERS INC
Registered Office :	375 Ghent Rd, Fairlawn, Oh 44333-4601
Country :	United States
Date of Incorporation :	01/1977
Legal Form :	Institutions
Line of Business :	Jewelry Stores

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 :	Slow by 3 days
Litigation :	Clear

Company Information

STERLING JEWELERS INC
375 GHENT RD
FAIRLAWN, OH 44333-4601
(330) 668-5000

Business Identification Number:

847711029

File Established:

PRIOR TO 01/1977

Date of Incorporation:

10/01/1919

SIC code:

JEWELRY STORES - 5944

Executive Summary

  Intelliscore for STERLING JEWELERS INC

45.07

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
26% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

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

  Current DBT range compared to all industries*

3 DBT
($285,800 Balance)

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 7 DBT

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings: details (FILED 08/02-08/07)

15

Judgment filings:

0

Total collections: details (PLACED 11/02-01/07)

4

Sum of legal filings:

$480,401

UCC filings: details (FILED 12/98-10/07)

133

Cautionary UCC filings present?

Yes**

Trade Information

Monthly average DBT:

20

Highest DBT previous 6 months:

34

Highest DBT previous 5 quarters:

34

Total continuous trades:

45

Current continuous trade balance:

$285,800

Trade balance of all trades (74):

$1,328,100

Average balance previous 5 quarters:

$176,820

Highest credit amount extended: details

$138,500

6 month balance range:

$231,000 - $290,800

* 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

12

22

20

34

29

4

3

0

Apr07

May07

Jun07

Jul07

Aug07

Sep07

Current

  Quarterly DBT trends (previous 5 quarters)

90+

60

30

6

6

9

18

24

0

3Q06

4Q06

1Q07

2Q07

3Q07

Performance Analysis

Predicted DBT for 01/09/2008: 3 DBT

Payment Trend Indication:
Show No Identifiable Trend

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

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

Legal Filings and Collections

Collections
Date Placed	Status	Original Balance	Outstanding Balance	Date Closed	Agency	Agency Phone
01/2007	Open Account	$514	$514		CREDIT MEDIATORS INC.	(610) 352-5151
01/2005	Paid in Full	$78	$0	01/2005	RECEIVABLE MANAGEMENT SERVICES	(000) 000-0000
09/2003	Payment Plan	$15,670	$13,027		CAINE & WEINER CO.	(818) 908-2121
11/2002	Closed, Uncollected	$49	$49	07/2003	ADAMS COOPER & MARKS	(407) 368-9300

Tax Liens
File Date	Filing Type	Status	Amount	Filing Number	Jurisdiction
09/04/2007	State Tax Lien	Released	$5,716	50844667	GREENVILLE COUNTY CI
09/04/2007	State Tax Lien	Released	$4,072	50844668	GREENVILLE COUNTY CI
09/04/2007	State Tax Lien	Released	$1,438	50844670	GREENWOOD COUNTY CIR
09/04/2007	State Tax Lien	Released	$3,054	50844698	SPARTANBURG COUNTY C
09/04/2007	State Tax Lien	Released	$2,445	50844700	SUMTER COUNTY CIRCUI
09/04/2007	State Tax Lien	Released	$1,049	50844701	SUMTER COUNTY CIRCUI
09/04/2007	State Tax Lien	Released	$2,629	50844702	YORK COUNTY CIRCUIT
09/04/2007	State Tax Lien	Released	$533	50844703	YORK COUNTY CIRCUIT
09/05/2007	State Tax Lien	Released	$2,555	50844631	ANDERSON COUNTY CIRC
08/20/2007	State Tax Lien	Filed	$5,716	50844667	GREENVILLE COUNTY CI
08/20/2007	State Tax Lien	Filed	$4,072	50844668	GREENVILLE COUNTY CI
08/20/2007	State Tax Lien	Filed	$1,438	50844670	GREENWOOD COUNTY CIR
08/20/2007	State Tax Lien	Filed	$3,054	50844698	SPARTANBURG COUNTY C
08/20/2007	State Tax Lien	Filed	$2,445	50844700	SUMTER COUNTY CIRCUI
08/20/2007	State Tax Lien	Filed	$1,049	50844701	SUMTER COUNTY CIRCUI
08/20/2007	State Tax Lien	Filed	$2,629	50844702	YORK COUNTY CIRCUIT
08/20/2007	State Tax Lien	Filed	$533	50844703	YORK COUNTY CIRCUIT
08/20/2007	State Tax Lien	Filed	$2,555	50844631	ANDERSON COUNTY CIRC
04/06/2007	State Tax Lien	Released	$5,978	3406308737261001	ANGELINA COUNTY CLER
04/11/2007	State Tax Lien	Released	$5,977	2007014658	LUBBOCK COUNTY CLERK
03/16/2007	State Tax Lien	Filed	$5,978	3406308737261001	ANGELINA COUNTY CLER
11/18/2004	County Tax Lien	Filed	$1,940	20040852884	SAN BERNARDINO COUNT
11/04/2003	State Tax Lien	Filed	$446,090	2003001350962	ORANGE COUNTY RECORD
10/09/2003	State Tax Lien	Released	$14,390	04366077	LAKE COUNTY CIRCUIT
02/25/2003	State Tax Lien	Released	$1,088	04127515	MARION CNTY CIRCUIT/
10/29/2002	State Tax Lien	Filed	$731	04244770	MARION CNTY CIRCUIT/
08/13/2002	State Tax Lien	Filed	$1,088	04127514	MARION CNTY CIRCUIT/
08/21/2002	State Tax Lien	Filed	$1,083	04127515	ST JOSEPH COUNTY CIR

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*			$100	$100	100%					CUST 14 YR
BLDG MATRL	09/2007	06/2007	VARIED	$400	$0						ACCTCLOSED
+BUREAU	09/2007	09/2007	VARIED	$117,200	$45,000	91%	9%				CUST 15 YR
=BUS SERVCS	10/2007		NET 7	$2,000	$900	71%		29%
-CHEMICALS	10/2007		NET 30	$400	$400		42%	47%	11%
-CHEMICALS	10/2007		NET 30	$100	$100		50%	50%
-CHEMICALS	10/2007		NET 30	$400	$400		67%	33%
-CHEMICALS	10/2007		NET 30	$100	$100		50%	50%
+COMMUN SVC	10/2007		NET 30	$2,200	$100	51%	49%				CUST 6 YR
COMMUN SVC	10/2007		NET 21	$800	$0						CUST 5 YR
ELEC EQUIP	10/2007	02/2004	CREDIT	$300	$0						CUST 6 YR
+ELEC EQUIP	09/2007	08/2007	CONTRCT	$1,800	$1,800	100%
+FACTOR	09/2007		VARIED	$18,200	$4,100	96%	4%
FACTOR	10/2007	06/2005	NET 30		$0						CUST 2 YR
FINCL SVCS	10/2007		CONTRCT		$0						CUST 11 YR
+FREIGHT	11/2007	10/2007	VARIED	$72,800	$66,800	79%	19%		2%
FRGHT FWRD	11/2007	05/2007	NET 30	$100	$0						CUST 15 YR
+FURNTR&FIX	10/2007		NET 30	$66,400	$66,400	100%
GENERAL	10/2007		CONTRCT		$0
=GENL MERCH	11/2007	09/2007	CREDIT	$2,000	$700	100%
+INDUS SUPL	10/2007	09/2007	NET 30	$500	$100	100%					CUST 7 YR
+INDUS SUPL	09/2007	02/2001	VARIED	$200	<$100	100%					CUST 9 YR
INDUS SUPL	10/2007	09/2006	NET 30	$200	$0						CUST 3 YR
-INDUS SUPL	09/2007		NET 30	<$100	<$100	29%	29%		42%		CUST 3 YR
INDUS SUPL	10/2007	08/2006	NET 30	$700	$0						CUST 4 YR
=INDUS SUPL	10/2007	09/2007	VARIED	$200	$200	38%	62%				CUST 2 YR
+INDUS SUPL	10/2007	09/2007	VARIED	$800	$800	100%					CUST 25 YR
INDUS SUPL	10/2007		VARIED	$10,700	$0						CUST 1 YR
+INDUS SUPL	10/2007	09/2007	VARIED	$200	$200	100%					CUST 3 YR
+INDUS SUPL	10/2007	08/2007	VARIED	$100	<$100	100%					CUST 3 YR
=MANUFCTRNG	09/2007	08/2007	NET 30	$4,700	$2,500		100%
+MED SUPPLY	10/2007		VARIED	$600	$600	98%				2%
NEWSPAPERS	10/2007	07/2007	NET 30	$3,800	$0
NEWSPAPERS	10/2007		NET 10	$5,000	$0
OFFC SUPPL	10/2007	08/1999	CREDIT	$1,400	$0
PACKAGING	10/2007	10/2006	NET 30	$1,600	$0						CUST 8 YR
+PERSNLSVCS	10/2007	10/2007	ROI	$138,500	$85,400	91%	3%	3%	3%
PRNTG&PUBL	10/2007		VARIED		$0
+RENTALS	09/2007	08/2007	NET 30	$6,400	$400	100%
SAFTY PROD	09/2007		NET 30		$0
+TELECOM	10/2007		NET 30	$2,800	$2,800	45%	55%
+UTILITY	09/2007		NET	$1,700	$100	94%	6%				PAYS-SLOW
+UTILITY	07/2007		NET 15	$5,600	$5,600	100%
WAREHOUSE	10/2007		VARIED	<$100	$0						CUST 3 YR
WELDING	10/2007	08/2000	N10PRXO		$0

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	45	$471,100	$285,800	89%	9%	1%	1%		DBT: 3
Newly Reported	1	$100	$100	100%					DBT: 0
Trade Lines Totals	46	$471,200	$285,900	89%	9%	1%	1%		DBT: 3

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	$726,100	$521,700	96%	1%	2%	1%		CUST 23 YR
CELLUL/PAG	12/2004	11/2004	NET 30		$0						CUST 12 YR
CERAMICS	06/2006		NET 30		$0						CUST 1 YR
-CHEMICALS	03/2005		NET 30	<$100	<$100					100%
CHEMICALS	02/2006		NET 30	$200	$0
-CHEMICALS	03/2006		NET 30	$100	<$100		100%
COMMUN SVC	01/2005		NET 20		$0
+COMMUNICTN	02/2007	02/2007	NET 20	$500	$300	100%					CUST 17 YR
COMPUTERS	05/2005		CREDIT		$0						CUST 37 YR
COMPUTERS	03/2005	12/2004		$600	$0
=FACTOR	05/2005	05/2005	VARIED	$1,059,200	$422,800	71%	20%	9%
FACTOR	07/2006		NET 30		$0
+FOOD DISTR	07/2006	06/2006	NET 45	$5,200	$800	100%
+FOOD DISTR	03/2007	03/2007	NET 21	$69,100	$69,100	100%					CUST 17 YR
FREIGHT	06/2007		VARIED		$0
GIFTWARE	03/2007	04/2005	NET 30		$0						CUST 20 YR
=GIFTWARE	06/2005	04/2005	NET 30	$500	<$100		100%				CUST 1 YR
-HEATNG&A/C	02/2007		NET 30	$7,800	$7,800				100%
HOUSEWARES	04/2006	06/2005	VARIED	$9,400	$0
MISC MANUF	04/2007	03/2007	VARIED	$21,000	$0
NEWSPAPERS	10/2006		NET 30	$8,800	$0
-NEWSPAPERS	02/2006		NET 30	$10,500	$10,500				80%	20%
-OFFC SUPPL	04/2007	02/2007	NET	$42,200	$7,900			100%			HLDG-ORD
+TELECOM	05/2007	05/2007	NET 30	$2,800	<$100	100%					EXLENT ACC
=TELECOM	04/2006		NET 30	$800	<$100	6%	87%	7%			DISPUTE
-TEMP HELP	01/2007		NET 10	$4,400	$800					100%	CUST 7 YR
TEXTILES	02/2007	02/2006	COD		$0						CUST 1 YR
TRUCK DLR	06/2006		CONTRCT	$6,500	$0

Monthly Payment Trends

Payment Trends Analysis
JEWELRY STORES INDUSTRY SIC: 5944

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

3

$285,800

89%

9%

1%

1%

SEP07

82%

7

4

$234,500

75%

23%

2%

AUG07

82%

7

29

$290,800

62%

8%

12%

18%

JUL07

84%

6

34

$264,500

47%

20%

13%

20%

JUN07

85%

6

20

$260,100

43%

25%

26%

6%

MAY07

85%

5

22

$277,900

40%

26%

25%

9%

APR07

85%

5

12

$240,900

49%

38%

13%

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	24	$260,800	60%	16%	1%	9%	14%
Q2 - 07	APR-JUN	18	$258,700	44%	29%	22%	5%
Q1 - 07	JAN-MAR	9	$166,200	59%	35%	4%		2%
Q4 - 06	OCT-DEC	6	$132,400	69%	28%	2%	1%
Q3 - 06	JUL-SEP	6	$66,000	62%	37%	1%

Inquiries

Summary of Inquiries
Business Category	NOV07	OCT07	SEP07	AUG07	JUL07	JUN07	MAY07	APR07	MAR07
ADVERTISNG	1
Totals	1

UCC Profile

The number of UCC Filings is summarized with the 10 most recent listed below.

A full UCC detail report is available within 72 hours by entering UCC-847711029-C032268273 into the Business ID Number field on the BizApps order page.

UCC Summary		Filings
Date Range	Year	Cautionary UCCs^**	Total Filed	Released/ Term'd	Cont	Amended/ Assigned
JUL - PRESENT	2007		3	1		2
JAN - JUN	2007	1	7		1	3
JUL - DEC	2006	4	9		2	2
JAN - JUN	2006	2	8		1
JUL - DEC	2005	5	19		1	3
PRIOR TO JUL	2005	23	87		2	6
Total		35	133	1	7	16

** 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: 10/12/2007

Filing Number: OH00120184952

Jurisdiction: SEC OF STATE OHIO

Secured Party: SEEMA GEMS INC. NY NEW YORK 10036 580 FIFTH AVENUE

Collateral: 

UCC FILED Date: 10/09/2007

Filing Number: OH00120018799

Jurisdiction: SEC OF STATE OHIO

Secured Party: SEEMA GEMS INC. NY NEW YORK 10036 580 FIFTH AVENUE

Collateral: 

UCC FILED Date: 08/10/2007

Filing Number: OH00118164340

Jurisdiction: SEC OF STATE OHIO

Secured Party: NORTH AMERICAN COMMUNICATIONS RESOURCE, MN EAGAN 55121 3344

Collateral: 

UCC FILED Date: 05/21/2007

Filing Number: OH00115385143

Jurisdiction: SEC OF STATE OHIO

Secured Party: ROSY BLUE TRADING INC. NY NEW YORK 10017 529 FIFTH AVENUE

Collateral: 

UCC FILED Date: 04/26/2007

Filing Number: OH00114481439

Jurisdiction: SEC OF STATE OHIO

Secured Party: NORTH AMERICAN COMMUNICATIONS RESOURCE, MN EAGAN 55121 3344

Collateral: 

UCC FILED Date: 04/02/2007

Filing Number: OH00113502464

Jurisdiction: SEC OF STATE OHIO

Secured Party: KRISTALL, INC. CA LOS ANGELES 611 WEST 6TH STREET SUIT

Collateral: 

UCC FILED Date: 03/30/2007

Filing Number: 2007 1201358

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: KRISTALL CLASSICS, INC. CA LOS ANGELES 611 WEST 6TH ST

Collateral: EQUIP, INVENTORY, UNDEFINED

UCC FILED Date: 03/20/2007

Filing Number: 2007 1045409

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: NORTH AMERICAN COMMUNICATIONS RESOURCE, MN EAGAN 55121 3344

Collateral: EQUIP

UCC FILED Date: 03/13/2007

Filing Number: OH00112790664

Jurisdiction: SEC OF STATE OHIO

Secured Party: COLORON JEWELRY CA LOS ANGELES 90026 1641 ALLESANDRO ST

Collateral: 

UCC FILED Date: 01/18/2007

Filing Number: OH00111110380

Jurisdiction: SEC OF STATE OHIO

Secured Party: PORTFOLIO RECOVERY ASSOCIATES VA NORFOLK 23502 120 CORPORATE

Collateral: 

Company Background Information

  Corporate Registration

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF TENNESSEE

State of Origin: TN

Date of Incorporation: 10/01/1919

Current Status: Active

Business Type: Institutions - Profit

Charter Number: 0038909

Agent: C T CORPORATION SYSTEM

Agent Address: 800 S GAY ST KNOXVILLE, TN

  Additional Company Background Information

Operating Information

Business Type: Institutions

Primary SIC Code: JEWELRY STORES - 5944

Number of Employees: 14,167

Sales: $2,287,050,000

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