MIRA INFORM REPORT

Report Date :

13.02.2008

IDENTIFICATION DETAILS

Name :	HUBBARD HALL INC
Registered Office :	563 S Leonard St Waterbury, CT 06708-4316
Country :	United States
Date of Incorporation :	03.12.1971
Com. Reg. No.:	700144776
Legal Form :	Institutions
Line of Business :	Chemical Preparations

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 7 days
Litigation :	Clear

Company Information

HUBBARD HALL INC
563 S LEONARD ST
WATERBURY, CT 06708-4316
(203) 756-5521

Business Identification Number:

700144776

File Established:

PRIOR TO 01/1977

Date of Incorporation:

03/12/1971

SIC code:

CHEMICAL PREPARATIONS, NEC - 2899

Executive Summary

  Intelliscore for HUBBARD HALL INC

54.54

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
33% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

	NUMBER OF CURRENT ACCOUNTS
	NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS
	NUMBER OF TRADES NET 1-30 TERMS
	NUMBER OF TRADES WITH A HIGH BALANCE TO HIGH CREDIT RATIO

  Current DBT range compared to all industries*

7 DBT
($136,300 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 08/02)

1

Sum of legal filings:

$0

UCC filings: details (FILED 08/03-09/06)

2

Cautionary UCC filings present?

Yes**

Trade Information

Monthly average DBT:

4

Highest DBT previous 6 months:

11

Highest DBT previous 5 quarters:

11

Total continuous trades:

17

Current continuous trade balance:

$136,300

Trade balance of all trades (31):

$232,600

Average balance previous 5 quarters:

$110,320

Highest credit amount extended: details

$96,400

6 month balance range:

$86,400 - $136,300

* 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 Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

  7 month DBT trends

90+

60

30

1

5

2

3

6

11

7

0

Jul07

Aug07

Sep07

Oct07

Nov07

Dec07

Current

  Quarterly DBT trends (previous 5 quarters)

90+

60

30

5

6

5

3

6

0

4Q06

1Q07

2Q07

3Q07

4Q07

Performance Analysis

Predicted DBT for 04/09/2008: 7 DBT

Payment Trend Indication:
Payments Are Increasingly Late

Industry payment comparison:
Has paid the same as 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
08/2002	Paid in Full	$0	Undisclosed	10/2002	CITI - SIR SPEEDY COLLECTIONS	(888) 645-7013

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	12/2007	12/2007		$2,300	$2,100	67%	26%			7%	CUST 27 YR
AIR TRANS	01/2008		NET 30		$0						CUST 4 YR
+CHEMICALS	10/2007	09/2007	SPECIAL	$72,300	$49,900	100%
FINCL SVCS	12/2007		NET		$0						CUST 3 YR
=FREIGHT	02/2008	12/2007	VARIED	$500	$500		100%
GENERAL	10/2007		NET 30	$200	$0
INDUS SUPL	01/2008	07/2007	NET 30	$800	$0						CUST 3 YR
MACHINERY	02/2008	03/2007	1/15N30	$100	$0
=MISC MANUF	01/2008		VARIED	$96,400	$80,300	86%	4%			10%
OFFC SUPPL	01/2008	08/2001	CREDIT		$0
OFFC SUPPL	01/2008	02/2007	CREDIT	$1,300	$0						ACCTCLOSED
+PACKAGING	01/2008	12/2007	NET 30	$400	$100	100%					CUST 4 YR
SAFTY PROD	12/2007		NET 30	$1,300	$0						CUST 15 YR
-TELECOM	01/2008		NET 30	$3,400	$3,400	49%	8%	14%	5%	24%	DISPUTE
TRANSPORTN	01/2008	11/2001	VARIED		$0						CUST 16 YR
TRUCK DLR	01/2008		CONTRCT	$300	$0
WAREHOUSE	01/2008	07/2003	VARIED		$0						PROMPT

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	17	$179,300	$136,300	91%	3%			6%	DBT: 7
Newly Reported	0								DBT:
Trade Lines Totals	17	$179,300	$136,300	91%	3%			6%	DBT: 7

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
=AUTO LEASE	01/2008	12/2007	VARIED	$17,100	$1,900	100%					SATSFTRY
-CHEMICALS	12/2006		NET 30	$100	$100		50%	50%
COMPUTERS	05/2005		VARIED		$0						CUST 37 YR
FINCL SVCS	08/2005	08/2005	CONTRCT	$20,100	$0						ACCTCLOSED
-FRGHT FWRD	05/2005		NET 30	$700	<$100					100%
GENERAL	05/2007	04/2007	OTHER	+$200,000	$0						CUST 11 YR
GENERAL	07/2007	06/2007	OTHER	+$200,000	$0						CUST 11 YR
MANUFCTRNG	10/2006		CERTCHK		$0
+MANUFCTRNG	12/2006	11/2006	VARIED	$20,900	$20,900	100%					CUST 5 YR
MISC MANUF	01/2006	11/2005	VARIED	$2,300	$0
+MISC MANUF	08/2006		VARIED	$159,000	$71,200	100%
PACKAGING	01/2006	05/2004	NET 30	$900	$0
-RUBR&PLAST	04/2005	01/2005	VARIED	$10,000	$2,100				59%	41%	CUST 9 YR
TRANSPORTN	07/2006		NET 15		$0						ACCTCLOSED

Monthly Payment Trends

Payment Trends Analysis
CHEMICAL PREPARATIONS, NEC INDUSTRY SIC: 2899

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

7

$136,300

91%

3%

6%

DEC07

89%

3

11

$131,100

62%

29%

2%

6%

1%

NOV07

88%

3

6

$119,300

75%

18%

7%

OCT07

88%

3

3

$109,900

85%

14%

1%

SEP07

88%

3

2

$131,000

87%

13%

AUG07

89%

3

5

$116,700

71%

28%

1%

JUL07

88%

3

1

$107,700

98%

1%

1%

Quarterly Payment Trends

Payment History - Quarterly Averages				Account Status Days Beyond Terms
Quarter	Months	DBT	Balance	Cur	1-30	31-60	61-90	91+
Q4 - 07	OCT-DEC	6	$119,800	74%	21%	3%	2%
Q3 - 07	JUL-SEP	3	$118,200	85%	14%	1%
Q2 - 07	APR-JUN	5	$117,000	84%	13%			3%
Q1 - 07	JAN-MAR	6	$122,800	86%	8%	2%	2%	2%
Q4 - 06	OCT-DEC	5	$73,800	66%	34%

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
JAN - PRESENT	2008
JUL - DEC	2007
JAN - JUN	2007
JUL - DEC	2006		1			1
JAN - JUN	2006
PRIOR TO JAN	2006	1	1
Total		1	2			1

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

  UCC Filings

UCC FILED Date: 09/27/2006

Filing Number: 0002416546

Jurisdiction: SEC OF STATE CONNECT

Secured Party: CELTIC LEASING CORP. CA IRVINE 92614 4 PARK PLAZA, SUITE 300

Collateral: 

UCC AMENDED Date: 12/12/2006

Filing Number: 0002429873

Original Filing Date: 09/27/2006

Original Filing Number: 0002416546

Original Filing State: CT

Jurisdiction: SEC OF STATE CONNECT

Secured Party: CELTIC LEASING CORP. CA IRVINE 92614 4 PARK PLAZA, SUITE 300

Collateral: 

UCC FILED Date: 08/18/2003

Filing Number: 0002220239

Jurisdiction: SEC OF STATE CONNECT

Secured Party: PALM COMMODITIES INTERNATIONAL, INC TN LAVERGNE 37086 1289 B

Collateral: INVENTORY

Commercial Finance Relationships

  Leasing Relationships

Leasing Company: LEASING SERVICES

Address: CEDAR RAPIDS, 52406-0609

Phone: (319) 365-8000

Origination Date: 04/2003

Original Lease Amount: $23,342

Lease Product Type: OFFICE EQUP

Lease Term: 60 Months

Payment Interval: 12/YEAR

Payment Type: FIXED

Current Scheduled Amount Due: $389

Amount of Overdue Payments: $0

Remaining Balance: $1,556

Late Payments: 0

Company Background Information

  Corporate Registration

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF CONNECTICUT

State of Origin: CT

Date of Incorporation: 03/12/1971

Current Status: Active

Business Type: Institutions - Profit

Charter Number: 0022800

Agent: DONALD MCPARTLAND

  Additional Company Background Information

Operating Information

Business Type: Institutions

Primary SIC Code: CHEMICAL PREPARATIONS, NEC - 2899

Secondary SIC Code: CHEMICALS AND ALLIED PRODUCTS, NE - 5169

Additional SIC Code: 2812 - 2843

Number of Employees: 110

Sales: $43,000,000

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