MIRA INFORM REPORT

Report Date :

04.01.2011

IDENTIFICATION DETAILS

Correct Name :	ECONOMY MUD PRODUCTS COMPANY (DBA ECONOMY POLYMERS & CHEMICALS)

Registered Office :	P o Box 450246 - Houston, TX 77245-0246

Country :	United States

Date of Incorporation :	19.02.1951

Legal Form :	Corporation for Profit

Line of Business :	Chemical Manufacturer

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Unknown

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

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:	Economy Polymers & Chemicals
Address in the order:	P O Box No. 450246, Houston, Texas 77245-0246
Comments on data supplied:	The name provided is that of the trade name of the company.
Legal Name:	Economy Mud Products Company (DBA Economy Polymers & Chemicals)
Trade Name:	Economy Polymers & Chemical
Legal Address	PO BOX 450246 - Houston, TX 77245-0246 - USA

Mailing Address	PO BOX 450246 - Houston, TX 77245-0246 - USA
Telephone:	(713) 723-8416	ID :	0010585000
Fax:	(713) 723-1845	Legal Form:	Corporation for Profit
Email:	economy@economypolymers.com	Registered in:	Texas
Website:	http://www.economypolymers.com/	Date Created:	1951
Manager:	Lawrence E Walton, President	Date Incorporated:	February, 19^th. 1951
Staff:	45	Stock:	NA
		Value:	NA
Activity:	Chemical manufacturer

BANKS

Name of the Bank

STERLING BANK

BUSINESS

HISTORY
	The company was created in 1951
PRINCIPAL ACTIVITY
	Chemicals manufacturers
Products/Services description:
	What they do when manufacturing, is to control the entire process of raw materials and intermediates. They produce natural guar and derivates of guar. They have introduced a number of products in the Personal Care industry and these products are being sold all over the world. They have introduced a product called ECOPOL-RK for hair care. It can be used in hair styling gel
Operations area:
	National, International
The subject employs 45 employee(s)
LOCATION
Headquarters
	The company is headquartered at: P.O. Box 450246, Houston, TX 77245-0246 – USA

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. Mr. LAWRENCE E WALTON is the main shareholder of the company.
Management:
	- Lawrence E Walton, President And Director - Mary K Walton, Secretary - Walter M White, Treasurer - Walter M White, Vice-President

Financials - COMMERCIAL TRENDS AND FORECAST

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

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

We don't have any payments experience. No trade references were provided

Legal Fillings

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

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 small sized American company which employs 45 persons and has 60 years of experience in the market.

We don't have any payment experience for the company requested, nor do we have any financial information.

We suggest working with guarantees.

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public Records	NO
Indebtedness	N.A.	Payments	N.A.
Cash	N.A.

APPENDIX

Position
	Operator of the company
Comments
	We reached the operator of the company, who refused to provide us with any information without knowing the name of the inquiring party on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.67
UK Pound	1	Rs.69.45
Euro	1	Rs.59.37

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
----	NB	New Business	----

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.