MIRA INFORM REPORT

Report Date :

13.04.2011

IDENTIFICATION DETAILS

Name :	KOSO AMERICA INC.

Registered Office :	Corporation Trust Center 1209 Orange Street, Wilmington, New Castle DE 19801

Country :	United States

Date of Incorporation :	17.09.1993

Legal Form :	Corporation for Profit

Line of Business :	Control Systems Regulators Manufacturing

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 300,000

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:	Koso America Inc
Address in the order:	4 Manley Street, W Bridgewater MA 02379

Legal Name:	KOSO AMERICA INC.

Legal Address	Corporation Trust Center 1209 Orange Street, Wilmington, New Castle DE 19801, USA (incorporators)
Operative Address	4 Manley St., W. Bridgewater, MA 02379, USA (headquarters)
Telephone:	(508) 584-1199	ID :	2351522
Fax:	(508) 584-2525	Legal Form:	Corporation for Profit
Email:	info@kosoamerica.com	Registered in:	Delaware
Website:	http://www.kosoamerica.com/	Date Created:	1980
Manager:	Kevin Hynes, President	Date Incorporated:	September 17th, 1993
Staff:	80 (estimated)	Stock:	100
		Value:	0.01 USD
Activity:	Control Systems Regulators Manufacturing.

BANKS

Name of the Bank	CITIZENS BANK OF MASSACHUSETTS
Location	28 STATE ST BOSTON MA 02109- 1775

BUSINESS

HISTORY
	The company was created in 1980. It started as the REXA Corporation. In 1993, KOSO America was established when the company was purchased by Nihon Koso.
PRINCIPAL ACTIVITY
	The company is engaged in Control Systems Regulators Manufacturing.
Products/Services description:
	The company is the manufacturer of REXA and KOSO HAMMEL DAHL products, such as pumps, valves, actuators and sensors.
Brands:
	The company manufactures products for the following brands: Rexa Koso Hammel Dahl
Clients:
	The company serves the following industries: Power, pipeline, municipal water and wastewater treatment, chemical processing and industrial gases.
The subject employs 80 (estimated) employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The legal address of the company is that of the registrant officer: Corporation Trust Center 1209 Orange Street, Wilmington, New Castle DE 19801, USA However, it is headquartered at: 4 Manley St., W. Bridgewater, MA 02379, USA
Comments on location:
	The company was incorporated in Delaware due to tax purposes, however, it is headquartered in Massachusetts.

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The company is privately held. The mother company appears to be Nihon KOSO Co.,Ltd. (Japan)
Management:
	Kevin Hynes, President Mary Lynch, Finance Executive Bob Sass, Sales Executive

Financials - COMMERCIAL TRENDS AND FORECAST

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

We have contacted the company and left a voice mal which kept unanswered.

However our financial sources could provide us with the following data.

Those figures are estimates provided by confidential banking and financial institutions working with the company.

Comments on the financial data: The company`s estimated annual revenue is between USD 20 and 50 million.

Legal Fillings

There are 11 UCC** files listed with the Secretary of State of Delaware.

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 about 80 people and has been in business for 30 years.

A credit line may be considered for USD 300,000

SUMMARY

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

APPENDIX

Comments

We called the company several times and were always transferred to a voice mail. We left a message but as of today nobody has returned our calls.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.22
UK Pound	1	Rs.72.26
Euro	1	Rs.63.90

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.