MIRA INFORM REPORT

 

 

Report Date :

29.02.2008

 

 

IDENTIFICATION DETAILS

 

Name :

VALERUS COMPRESSION SERVICES LP

 

 

Registered Office :

919 Milam St Ste 1000 Houston, TX 77002-5386

 

 

Country :

United States

 

 

Date of Incorporation :

06.24.2004

 

 

Com. Reg. No.:

868389773

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesaler and Service of Gas Compressor Parts and Machinery

 

 

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 8 days

 

 

Litigation :

Clear

 

 

 

 

 

 

 

Company Information

 

 

VALERUS COMPRESSION SERVICES LP
919 MILAM ST STE 1000
HOUSTON, TX 77002-5386
(713) 744-6100

Business Identification Number:

868389773

File Established:

01/2003

Date of Incorporation:

06/24/2004

SIC code: 

SERVICES, NEC - 8999

 

Executive Summary

 

 

  Intelliscore for VALERUS COMPRESSION SERVICES LP

 

 

48.71

 

 

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
28% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

BALANCE ON DELINQUENT ACCOUNTS

NUMBER OF DELINQUENT OR DEROGATORY ACCOUNTS

RECENTLY DELINQUENT OR DEROGATORY AVG ACCOUNT BALANCES

NUMBER OF DELINQUENT ACCOUNTS



  Current DBT range compared to all industries*

8 DBT
($6,774,500 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 8 DBT        Same industry: 5 DBT

 

 

 

 

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections:

0

Sum of legal filings:

$0

UCC filings: details (FILED 07/07-01/08)

13

Cautionary UCC filings present?

Yes**



Trade Information

Monthly average DBT:

4

Highest DBT previous 6 months:

8

Highest DBT previous 5 quarters:

14

Total continuous trades:

20

Current continuous trade balance:

$6,774,500

Trade balance of all trades (21):

$6,774,800

Average balance previous 5 quarters:

$4,511,820

Highest credit amount extended: details

$6,446,900

6 month balance range:

$3,251,400 - $6,774,800

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

  7 month DBT trends

 

90+

60

30

 


2

 


7

 


2

 


4

 


4

 


8

 


8

 

0

Aug07

Sep07

Oct07

Nov07

Dec07

Jan08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


4

 


14

 


6

 


4

 


4

 

0

 

4Q06

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

 

Performance Analysis

 

Predicted DBT for 04/23/2008: 8 DBT

Payment Trend Indication:
Show No Identifiable Trend

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

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

 

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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

01/2008

 

NET 30

 

$13,800

$13,800

51%

 

 

2%

47%

COLLECTION

=BLDG MATRL

01/2008

01/2008

VARIED

 

$461,400

$13,200

 

100%

 

 

 

 

=BUS SERVCS

02/2008

 

NET 7

 

$16,300

$16,300

57%

 

43%

 

 

 

-CELLUL/PAG

12/2007

01/2007

NET 30

 

$1,100

$1,100

 

 

 

 

100%

CHARGE OFF

 COMPUTERS

02/2008

04/2007

CREDIT

 

 

$0

 

 

 

 

 

ACCTCLOSED

 ELEC MFG

11/2007

 

VARIED

 

$7,600

$0

 

 

 

 

 

CUST 7 YR

+EQUIPMENT

01/2008

 

NET 30

 

$6,446,900

$6,446,900

66%

27%

5%

1%

1%

 

=FACTOR

02/2008

 

NET 30

 

$19,800

$14,700

49%

30%

21%

 

 

CUST 1 YR

-FACTOR

01/2008*

01/2008

OTHER

 

$300

$300

 

100%

 

 

 

 

 FINCL SVCS

02/2008

01/2008

VARIED

 

$101,700

$0

 

 

 

 

 

 

 INDUS MACH

01/2008

 

NET 30

 

$41,900

$0

 

 

 

 

 

 

+INDUS MACH

01/2008

 

NET 30

 

$56,700

$3,600

 

100%

 

 

 

 

+INDUS MACH

11/2007

 

NET30

 

$364,200

$79,400

2%

92%

6%

 

 

 

+INDUS SUPL

01/2008

01/2008

VARIED

 

$215,800

$172,700

67%

33%

 

 

 

CUST 4 YR

=INDUS SUPL

01/2008

01/2008

NET 30

 

$12,900

$1,600

33%

67%

 

 

 

CUST 2 YR

=MACH DISTR

01/2008

01/2008

1/10N30

 

$24,600

$9,300

26%

74%

 

 

 

CUST 2 YR

 OFFC SUPPL

02/2008

07/2007

CREDIT

 

 

$0

 

 

 

 

 

 

 PACKAGING

01/2008

 

NET 30

 

 

$0

 

 

 

 

 

CUST 3 YR

 PERSNLSVCS

02/2008

05/2007

ROI

 

$8,300

$0

 

 

 

 

 

 

 SAFTY PROD

12/2007

 

NET 30

 

$200

$0

 

 

 

 

 

 

+UTILITY

11/2007

 

VARIED

 

$2,600

$1,900

100%

 

 

 

 

 

 

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

20

 

 

$7,795,800

$6,774,500

65%

28%

5%

1%

1%

DBT: 8

Newly Reported

1

 

 

$300

$300

 

100%

 

 

 

DBT: 15

Trade Lines Totals

21

 

 

$7,796,100

$6,774,800

65%

28%

5%

1%

1%

DBT: 8

 

Monthly Payment Trends

 

 

Payment Trends Analysis
SERVICES, NEC INDUSTRY SIC: 8999

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

8

$6,774,500

 

65%

28%

5%

1%

1%

JAN08

88%

5

8

$6,770,500

 

65%

28%

5%

1%

1%

DEC07

87%

5

4

$5,204,900

 

73%

26%

1%

 

 

NOV07

87%

5

4

$5,161,600

 

74%

25%

1%

 

 

OCT07

88%

5

2

$3,251,400

 

85%

15%

 

 

 

SEP07

87%

5

7

$5,905,700

 

52%

48%

 

 

 

AUG07

89%

4

2

$5,997,000

 

86%

14%

 

 

 

 

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

4

$4,528,400

 

76%

23%

1%

 

 

Q3 - 07

JUL-SEP

4

$5,210,200

 

72%

28%

 

 

 

Q2 - 07

APR-JUN

6

$3,946,300

 

72%

26%

 

1%

1%

Q1 - 07

JAN-MAR

14

$3,357,000

 

54%

35%

4%

3%

4%

Q4 - 06

OCT-DEC

4

$5,517,200

 

74%

26%

 

 

 

Inquiries

 

 

  Summary of Inquiries

Business
Category

FEB08

JAN08

DEC07

NOV07

OCT07

SEP07

AUG07

JUL07

JUN07

FUEL DISTR

 

 

 

 

 

1

 

 

 

HOTEL

 

 

 

1

 

 

 

 

 

TOOL & DIE

 

 

 

 

 

 

 

 

1

Totals

 

 

 

1

 

1

 

 

1

 

UCC Profile

 

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

A full UCC detail report is available the same business day by entering UCC-868389773-C032848527
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

JAN - PRESENT

 

2008

 

3

 

 

2

JUL - DEC

 

2007

2

10

 

 

1

JAN - JUN

 

2007

 

 

 

 

 

JUL - DEC

 

2006

 

 

 

 

 

JAN - JUN

 

2006

 

 

 

 

 

PRIOR TO JAN

 

2006

 

 

 

 

 

Total

 

2

13

 

 

3

 

** 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.

 

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  UCC Filings

 

UCC FILED Date: 01/22/2008

Filing Number: 0800024658

Jurisdiction: SEC OF STATE TEXAS

Secured Party: REGIONS BANK TX HOUSTON 77056 5005 WOODWAY STE 110

Collateral:  


UCC FILED Date: 01/22/2008

Filing Number: 0800024659

Jurisdiction: SEC OF STATE TEXAS

Secured Party: REGIONS BANK TX HOUSTON 77056 5005 WOODWAY STE 110

Collateral:  


UCC FILED Date: 01/09/2008

Filing Number: 0800011043

Jurisdiction: SEC OF STATE TEXAS

Secured Party: SILVER POINT FINANCE, LLC, AS FIRST LIEN CT GREENWICH 06830

Collateral:  


UCC FILED Date: 11/26/2007

Filing Number: 0700398737

Jurisdiction: SEC OF STATE TEXAS

Secured Party: REGIONS EQUIPMENT FINANCE CORPORATION AL BIRMINGHAM 35203 19

Collateral:  


UCC FILED Date: 10/12/2007

Filing Number: 0700350664

Jurisdiction: SEC OF STATE TEXAS

Secured Party: SILVER POINT FINANCE, LLC, AS FIRST LIEN CT GREENWICH 06830

Collateral:  


UCC FILED Date: 10/12/2007

Filing Number: 0700350665

Jurisdiction: SEC OF STATE TEXAS

Secured Party: SILVER POINT FINANCE, LLC, AS FIRST LIEN CT GREENWICH 06830

Collateral:  


UCC FILED Date: 10/12/2007

Filing Number: 0700350666

Jurisdiction: SEC OF STATE TEXAS

Secured Party: SILVER POINT FINANCE, LLC, AS SECOND LIE CT GREENWICH 06830

Collateral:  


UCC FILED Date: 10/12/2007

Filing Number: 0700350667

Jurisdiction: SEC OF STATE TEXAS

Secured Party: SILVER POINT FINANCE, LLC, AS SECOND LIE CT GREENWICH 06830

Collateral:  


UCC FILED Date: 10/12/2007

Filing Number: 0700351582

Jurisdiction: SEC OF STATE TEXAS

Secured Party: REGIONS EQUIPMENT FINANCE CORPORATION AL BIRMINGHAM 35203 41

Collateral:  


UCC AMENDED Date: 01/02/2008

Filing Number: 0800001106

Original Filing Date: 10/12/2007

Original Filing Number: 0700350664

Original Filing State: TX

Jurisdiction: SEC OF STATE TEXAS

Secured Party: SILVER POINT FINANCE, LLC, AS FIRST LIEN CT GREENWICH 06830

Collateral:  

 

Company Background Information

 

 

  Additional Company Background Information

 

Key Personnel

Principal(s): 

CHET ERWIN, OWNER

 

C ERWIN, CHIEF EXEC

 

JAROD HAZLETT


Operating Information

Business Type: Institutions


Primary SIC Code: SERVICES, NEC - 8999

Secondary SIC Code: REPAIR SERVICES, NEC - 7699

Additional SIC Code: 5331 - 5084

 

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