MIRA INFORM REPORT

Report Date :

14.02.2008

IDENTIFICATION DETAILS

Name :	ISP ELASTOMERS

Registered Office :	Po Box 667 , Port Neches, Tx 77651-0667

Country :	United States

Date of Incorporation :	08/2003

Com. Reg. No.:	783953877

Legal Form :	Institutions

Line of Business :	Electrical Apparatus and Equipment

RATING & COMMENTS

MIRA’s Rating :

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 9 days

Litigation :		Clear

	Company Information

ISP ELASTOMERS
PO BOX 667
PORT NECHES, TX 77651-0667
(409) 724-8891

Business Identification Number:

783953877

File Established:

08/2003

SIC code:

ELECTRICAL APPARATUS AND EQUIPMEN - 5063

Matching Name and Address

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

I S P ELASTOMERS
1615 MAIN ST
PORT NECHES, TX 77651-3039

Executive Summary

Intelliscore for ISP ELASTOMERS

32.51

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

100

High risk

Low risk

MEDIUM TO HIGH RISK
20% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF DEROGATORY ACCOUNTS

RECENTLY DELINQUENT OR DEROGATORY AVG ACCOUNT BALANCES

RATIO OF BALANCE ON SLOW PAYING ACCOUNTS TO ALL BALANCES

PRESENCE OF AN INCONSISTENT PAYMENT TREND

Current DBT range compared to all industries*

9 DBT
($33,300 Balance)

0-15

16-50

51+

80%

11%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT Same industry: 5 DBT

Legal Filings and Collections

Bankruptcy filings:

Tax lien filings:

Judgment filings:

Total collections:

Sum of legal filings:

UCC filings: details (FILED 07/03-02/06)

Cautionary UCC filings present?

Yes**

Trade Information

Monthly average DBT:

Highest DBT previous 6 months:

Highest DBT previous 5 quarters:

Total continuous trades:

Current continuous trade balance:

$33,300

Trade balance of all trades (27):

$76,000

Average balance previous 5 quarters:

$39,000

Highest credit amount extended: details

$59,400

6 month balance range:

$5,500 - $46,100

* 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+

Jul07

Aug07

Sep07

Oct07

Nov07

Dec07

Current

Quarterly DBT trends (previous 5 quarters)

90+

4Q06

1Q07

2Q07

3Q07

4Q07

Performance Analysis

Predicted DBT for 04/09/2008: 11 DBT

Payment Trend Indication:
Payments Are Increasingly Late

Industry payment comparison:
Has paid sooner than 50% of similar firms

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

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

$4,300

$300

100%

CUST 5 YR

AIR TRANS

01/2008

NET 30

CUST 22 YR

BLDG MATRL

12/2007

11/2007

VARIED

$1,700

=CHEMICALS

10/2007

09/2007

SPECIAL

$59,400

$30,500

83%

17%

ELEC EQUIP

01/2008

NET 30

CUST 7 YR

-ELEC MFG

01/2008

VARIED

$28,800

$1,100

100%

CUST 8 YR

-FREIGHT

02/2008

08/2007

VARIED

$500

$100

100%

MACH DISTR

01/2008

08/2007

1/10N30

$500

CUST 6 YR

MANUFCTRNG

12/2007

04/2005

NET 30

CUST 3 YR

POOL EQUIP

12/2007*

CREDIT

SAFTY PROD

12/2007

NET 30

SAFTY PROD

11/2007*

09/2006

NET 30

CUST 1 YR

TRANSPORTN

01/2008

NET 30

$300

PROMPT

-TRUCK DLR

01/2008

CONTRCT

$1,500

$1,300

20%

41%

38%

COLLECTION

UTILITY

10/2007

NET

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

$97,000

$33,300

77%

16%

DBT: 9

Newly Reported

DBT: 0

Trade Lines Totals

$97,000

$33,300

77%

16%

DBT: 9

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

=COMPUTERS

06/2006

05/2006

$3,900

$3,700

100%

+ELEC DISTR

06/2006

NET 30

$36,000

$400

100%

+ELEC EQUIP

05/2006

CONTRCT

$8,900

$7,800

100%

+ELEC SUPLR

04/2005

VARIED

$9,000

38%

62%

=ELEC SUPLR

10/2007

2/10N30

$26,500

$3,300

100%

CUST 4 YR

FACTOR

08/2007

12/2006

NET 30

$20,500

=FREIGHT

06/2005

03/2005

$200

100%

-FRGHT FWRD

02/2007

09/2006

NET 15

$100

100%

SATSFTRY

MISC MANUF

03/2007

02/2007

VARIED

$9,400

PACKAGING

01/2006

08/2004

NET 30

-TELECOM

07/2005

06/2005

NET 30

$700

22%

65%

13%

PAYS-SLOW

=TEMP HELP

01/2007

NET 10

$42,100

$17,500

31%

21%

48%

CUST 3 YR

Monthly Payment Trends

Payment Trends Analysis
ELECTRICAL APPARATUS AND EQUIPMEN INDUSTRY SIC: 5063

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

$33,300

77%

16%

DEC07

85%

$36,000

72%

22%

NOV07

85%

$37,100

72%

23%

OCT07

86%

$42,300

78%

19%

SEP07

84%

$45,200

82%

17%

AUG07

85%

$44,900

82%

18%

JUL07

87%

$46,100

83%

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+

Q4 - 07

OCT-DEC

$36,700

77%

17%

Q3 - 07

JUL-SEP

$45,400

83%

17%

Q2 - 07

APR-JUN

$47,700

99%

Q1 - 07

JAN-MAR

$48,100

99%

Q4 - 06

OCT-DEC

$17,100

100%

Inquiries

Summary of Inquiries

Business
Category

FEB08

JAN08

DEC07

NOV07

OCT07

SEP07

AUG07

JUL07

JUN07

LEASING

Totals

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

JAN - JUN

2006

PRIOR TO JAN

2006

Total

** 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: 02/16/2006

Filing Number: 6057843 5

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: JPMORGAN CHASE BANK, N.A., AS ADMINISTRA TX HOUSTON 77002 11

Collateral: UNDEFINED

UCC FILED Date: 06/27/2005

Filing Number: 0500200008

Jurisdiction: SEC OF STATE TEXAS

Secured Party: CANON FINANCIAL SERVICES, INC. NJ MT. LAUREL 08054 158 GAITH

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 05/26/2005

Filing Number: 5173975 5

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: AIR LIQUIDE INDUSTRIAL US LP TX HOUSTON 77041 12800 WEST LIT

Collateral: UNDEFINED

UCC FILED Date: 04/02/2004

Filing Number: 4093983 7

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: THE CIT GROUP/BUSINESS CREDIT, INC., AS NY NEW YORK 10036 1

Collateral: EQUIP, FURN & FIX, INVENTORY, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 08/25/2003

Filing Number: 3235316 0

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: WELLS FARGO EQUIPMENT FINANCE, INC. MN MINNEAPOLIS 55402 733

Collateral: EQUIP

UCC FILED Date: 07/16/2003

Filing Number: 3181008 7

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: EQUISTAR CHEMICALS, LP TX HOUSTON 77010 1221 MCKINNEY, SUITE

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 07/16/2003

Filing Number: 3181037 6

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: LYONDELL CHEMICAL COMPANY TX HOUSTON 77010 1221 MCKINNEY SUI

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

Commercial Finance Relationships

Leasing Relationships

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 06/2005

Original Lease Amount: $142,440

Lease Product Type: EQUIPMENT

Lease Term: 60 Months

Payment Interval: 12/YEAR

Comment: PAY DLINQUNT

Current Due Date: 02/20/2008

Current Scheduled Amount Due: $2,374

Amount of Overdue Payments: $2,890

Remaining Balance: $71,736

Current Payments: 15

Late Payments: 14

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 08/2006

Original Lease Amount: $2,259

Lease Product Type: EQUIPMENT

Lease Term: 46 Months

Comment: PAY DLINQUNT

Current Due Date: 11/20/2007

Current Scheduled Amount Due: $49

Amount of Overdue Payments: $54

Remaining Balance: $1,625

Late Payments: 12

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 02/2007

Original Lease Amount: $2,034

Lease Product Type: EQUIPMENT

Lease Term: 40 Months

Comment: PAY DLINQUNT

Current Due Date: 11/20/2007

Current Scheduled Amount Due: $50

Amount of Overdue Payments: $55

Remaining Balance: $1,683

Late Payments: 6

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 11/2007

Original Lease Amount: $14,783

Lease Product Type: EQUIPMENT

Lease Term: 62 Months

Payment Interval: 12/YEAR

Current Due Date: 02/20/2008

Current Scheduled Amount Due: $1

Amount of Overdue Payments: $0

Remaining Balance: $14,538

Late Payments: 0

Company Background Information

Corporate Registration

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF TEXAS

State of Origin: TX

Current Status: Active

Business Type: Institutions - Profit

Charter Number: 0800217105

Agent: CORPORATION SERVICE COMPANY DBA CSC - LA

Agent Address: 701 BRAZOS ST STE 1050 AUSTIN, TX

Additional Company Background Information

Operating Information

Business Type: Institutions

Primary SIC Code: ELECTRICAL APPARATUS AND EQUIPMEN - 5063

Secondary SIC Code: PLASTICS MATERIALS & RESINS - 2821

Additional SIC Code: 3069 - 0800

Number of Employees: 749

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

MIRA INFORM REPORT

Company Information

Executive Summary

Trade Payment Information

Trade Payment Totals

Additional Payment Experiences

Monthly Payment Trends

Quarterly Payment Trends

Inquiries

UCC Profile

Commercial Finance Relationships

Company Background Information