MIRA INFORM REPORT

Report Date :

09.04.2011

IDENTIFICATION DETAILS

Name :	CALCOT, LTD.

Formerly Known As :	California Cotton Cooperative Association.

Registered Office :	P O Box 259, Bakersfield Ca 93302-0259

Country :	United States

Date of Incorporation :	09.03.1927

Legal Form :	Limited Company

Line of Business :	Cotton Supplier

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 100,000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

United States

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	Calcot Co Ltd
Address in the order:	P O Box 259 Bakersfield CA 93302 0259
Comments on data supplied:	Please note that the address provided is that of the legal address of the company. The headquarters` address is listed below.
Legal Name:	CALCOT, LTD.

Legal Address	PO BOX 259, BAKERSFIELD CA 93302-0259, USA (incorporators)
Operative Address	1900 East Brundage Lane, Bakersfield, CA 93307, USA (headquarters)
Telephone:	(661) 327-5961	ID :	C0122802
Fax:	(661) 861-9870	Legal Form:	Limited Company
Email:	mmory@calcot.com	Registered in:	California
Website:	http://www.calcot.com/	Date Created:	1927
Manager:	Jarral T. Neeper, President	Date Incorporated:	March 9th, 1927
Staff:	130	Stock:	NA
		Value:	NA
Activity:	Cotton supplier.

BANKS

Name of the Bank	COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.,
Location	245 PARK AVE NEW YORK NY 10167- 0002

BUSINESS

HISTORY
	The company company was created in 1927. Calcot, Ltd. was formerly known as California Cotton Cooperative Association.
PRINCIPAL ACTIVITY
	Calcot, Ltd. is the cotton marketing cooperative owned by cotton producers in California, Arizona, New Mexico, and Texas.
Products/Services description:
	The company exports and supplies Far Western cotton and raw cotton to the textile mills, and provides marketing services.
Sales are:
	Wholesale
Operations area:
	National
The subject employs 130 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at: 1900 East Brundage Lane, Bakersfield, CA 93307, USA
Branches:
	The company has branches nationwide.

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The company is privately held. It is owned by cotton producers in California, Arizona, New Mexico, and Texas.
Management:
	Jarral T. Neeper, President Roxanne Wang, Manager
Related Companies:
	Subsidiary: Southwestern Irrigated Cotton Growers Association Inc.

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted the company that refused to provide us any financial data without knowing the name of the inquiring party.

Legal Fillings

There are several UCC** files listed with the Secretary of State of California.

There are no legal filings listed with the District Court.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

Rating

Local credit bureau gave a correct credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

Final Opinion

This is a medium sized American company. It employs 130 people and has been in business for 83 years.

Please note that we do not have accurate financials for the company. However, it has current payments experience.

A credit line may be considered for USD 100,000

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Person Interviewed
	Operator
Comments
	The person contacted refused to provide any information on grounds of confidentiality and ended the call before we could ask for her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.04
UK Pound	1	Rs.72.20
Euro	1	Rs.63.40

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	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

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.