MIRA INFORM REPORT

Report Date :

09.10.2007

IDENTIFICATION DETAILS

Name :	SIEMENS WATER TECHNOLOGIES

Registered Office :	4669 SHEPHERD TRL, ROCKFORD, IL 61103-1294 11765 Main St, Roscoe, IL 61073-9567

Country :	United States

Date of Incorporation :	07/2006

Legal Form :	Private Company

Line of Business :	Service Industry Machinery

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow by 17 days

Litigation :	Clear

Company Information

SIEMENS WATER TECHNOLOGIES
4669 SHEPHERD TRL
ROCKFORD, IL 61103-1294
(815) 877-3041

Business Identification Number:

762981020

File Established:

07/2006

SIC code:

SERVICE INDUSTRY MACHINERY, NEC - 3589

Matching Name and Address

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

SIEMENS WATER TECHNOLOGIES
11765 MAIN ST
ROSCOE, IL 61073-9567

Executive Summary

Intelliscore for SIEMENS WATER TECHNOLOGIES

29.66

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

100

High risk

Low risk

HIGH RISK
17% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS

BALANCE ON DELINQUENT ACCOUNTS

PRESENCE OF AN INCONSISTENT PAYMENT TREND

LENGTH OF CREDIT HISTORY

Current DBT range compared to all industries*

17 DBT
($101,300 Balance)

0-15

16-50

51+

80%

11%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT Same industry: 13 DBT

Legal Filings and Collections

Bankruptcy filings:

Tax lien filings:

Judgment filings:

Total collections:

Sum of legal filings:

UCC filings:

Cautionary UCC filings present?

Trade Information

Monthly average DBT:

Highest DBT previous 6 months:

Highest DBT previous 5 quarters:

Total continuous trades:

Current continuous trade balance:

$101,300

Trade balance of all trades (8):

$102,300

Average balance previous 5 quarters:

$54,080

Highest credit amount extended: details

$919,600

6 month balance range:

$46,100 - $114,700

* 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.

7 month DBT trends

90+

Mar07

Apr07

May07

Jun07

Jul07

Aug07

Current

Quarterly DBT trends (previous 5 quarters)

90+

3Q06

4Q06

1Q07

2Q07

3Q07

Performance Analysis

Predicted DBT for 12/05/2007: 22 DBT

Payment Trend Indication:
Are Improving Toward Term Requirements

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

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

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

+AIR TRANS

08/2007

$9,400

$2,100

72%

28%

CUST 5 YR

-FREIGHT

06/2007

VARIED

$919,600

$59,300

13%

56%

28%

PACKAGING

09/2007

NET 30

CUST 2 YR

+PLUMBING

08/2007

NET 10

$4,200

$200

100%

+SAFTY PROD

09/2007

NET 30

$1,000

$800

100%

+TRUCK DLR

09/2007

CONTRCT

$38,900

68%

29%

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

$973,100

$101,300

35%

45%

17%

DBT: 17

Newly Reported

DBT:

Trade Lines Totals

$973,100

$101,300

35%

45%

17%

DBT: 17

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

-ELEC MFG

09/2006

NET 30

$14,000

$900

100%

+FRGHT FWRD

05/2007

VARIED

$100

100%

Monthly Payment Trends

Payment Trends Analysis
SERVICE INDUSTRY MACHINERY, NEC INDUSTRY SIC: 3589

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

$101,300

35%

45%

17%

AUG07

73%

$83,100

35%

42%

21%

JUL07

82%

$80,500

34%

43%

21%

JUN07

82%

$84,100

34%

44%

20%

MAY07

82%

$82,700

27%

49%

17%

APR07

80%

$114,700

33%

17%

43%

MAR07

84%

$46,100

71%

17%

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

$88,300

36%

43%

19%

Q2 - 07

APR-JUN

$93,800

32%

16%

21%

23%

Q1 - 07

JAN-MAR

$39,000

74%

13%

Q4 - 06

OCT-DEC

$31,700

87%

Q3 - 06

JUL-SEP

$17,600

84%

14%

Inquiries

Summary of Inquiries

Business
Category

OCT07

SEP07

AUG07

JUL07

JUN07

MAY07

APR07

MAR07

FEB07

MOTR TRANS

Totals

Company Background Information

Additional Company Background Information

Key Personnel

Principal(s):	FRANK NOCIFORA, GENERAL MA
	ROGER RADKE
	KEVIN HOLLISTER, SENIOR VIC

Primary SIC Code: SERVICE INDUSTRY MACHINERY, NEC - 3589

Number of Employees: 60

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