MIRA INFORM REPORT

Report Date :

07.07.2011

IDENTIFICATION DETAILS

Name :	CARGILL INCORPORATED
Registered Office :	Corporation Trust Center 1209 Orange Street, Wilmington, New Castle, DE 19801
Country :	United States
Date of Incorporation :	18.07.1930
Legal Form :	Corporation for Profit
Line of Business :	Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services.

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	USD 2,000,000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
United States	A1	A1

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:	Cargill Cotton
Address in the order:	7101 Goodlett Farms Pkwy Cordova TN 38016
Comments on data supplied:	Dear Client, Your order was on Cargill Cotton. We couldn’t find “Cargill Cotton” incorporated in the Secretary of State of Tennesse, as Cargill Cotton is a non incorporated business unit from Cargill Incorporated. We therefore made the report on Cargill Incorporated.
Legal Name:	CARGILL INCORPORATED
Legal Address	Corporation Trust Center 1209 Orange Street, Wilmington, New Castle, DE 19801 (Registered Agent)
Operative Address	15407 Mcginty Rd, Wayzata, MN 55391, USA
Mailing Address	PO Box 9300, Minneapolis, MN 55440-9300, USA.
Telephone:	+1 (952) 742-7575	ID :	0286124
Fax:	+1 (952) 742-7393	Legal Form:	Corporation for Profit
Email:	cotton_us@cargill.com	Registered in:	Delaware
Website:	www.cargill.com	Date Created:	1865
Manager:	Gregory R. Page, Chairman	Date Incorporated:	July 18, 1930
Staff:	160,000	Stock:	2,400,000,000 shares
		Value:	0.01 USD
Activity:	Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services.

BANKS
Name of the Bank	WELLS FARGO BANK
Name of the Bank	WACHOVIA BANK
Name of the Bank	PARK NATIONAL BANK
Name of the Bank	HIGHLAND COMMUNITY BANK
BUSINESS
HISTORY
	The company was created in 1865 by William W. Cargill. It was formerly known as Cargill Elevator Company and changed its name to Cargill Incorporated in January 1930.
PRINCIPAL ACTIVITY
	Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services.
Products/Services description:
	It provides crop production; agricultural commodity trading; and animal nutrition products and services for aquaculture, beef, dairy, deer and elk, dogs, cats, exotics, gamebirds, horses, pork, poultry, rabbits, sheep, and goats; financial and risk management solutions; and food products, such as acidulants, cocoa and chocolate products, corn sweeteners, dry corn ingredients, flavors and flavor systems, flours, food-grade starches, health promoting ingredients and bioactives, juices, malts, meat and poultry products, oils, fats and shortenings, specialty sweeteners and polyols, salts, and texturants and texturizing systems. The company also offers health and pharmaceuticals ingredients, including excipient solutions, personal care product ingredients, and food ingredients; and industrial products, such as biobased polyols, biofuels, deicing products and surface overlays, fermentation solutions, oils and lubricants, power and gas products, salts, starches and derivatives, steel and ferrous raw materials, and texturizing solutions and rheology modifiers.
Sales are:
	Wholesale
Brands:
	Diamond Crystal (salt) Honeysuckle White (turkey) Sterling Silver (premium meats) Liza (oils and dressings) Truvia (natural sweetener) NatureFresh (oil) Untdelemn Bunica (oil) Empacadora Perry (Meats)
Clients:
	Professionals of the industry. It serves customers in various areas, including agriculture and animal nutrition, food and food ingredients, financial and risk management, and industrial applications.
Operations area:
	National, International
The company imports from Worldwide, depending on the demand
The company export to Worldwide, depending on the demand
Trade References:
	We could not contact any representative of the company that could provide us the names of the suppliers for us to check trade references.
The subject employs 160,000 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at: 15407 Mcginty Rd, Wayzata, MN 55391, USA
Comments on location:
	The company is incorporated in Delaware for tax purposes. However, it is headquartered at Minnesota.
Branches:
	The company has several other locations in the USA.

Shareholders - Manager - Related Companies
Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. It is a family owned business and the major shareholders are the descendants of William Wallace Cargill and son-in-law, John MacMillan.
Management:
	Gregory R. Page, Chairman and Chief Executive Officer David W. MacLennan, Senior Vice President, Chief Financial Officer William A. Buckner, Senior Vice President Paul D. Conway, Senior Vice President Richard D. Frasch, Senior Vice President
Related Companies:
	Cargill has operations in Africa, the Asia Pacific, Europe, Latin America, the Middle East, and North America. The company has 14 locations in Germany. Its headquarters are located at: Cargill Deutschland GmbH Cerestarstraße 2 47809 Krefeld Germany
Financials - COMMERCIAL TRENDS AND FORECAST
As a private company the subject does not publish any financial statements.
We have contacted the Accounts Payable Department, but we were transferred directly into the General Voicemail. We have left a message explaining the reason for our calling, but nobody has called us back yet.
Nevertheless, even though it is a private company, it reports its earnings on a quarterly basis. In fiscal year 2010, the comany reported net earnings of $2.6 billion on sales and other revenues of $107.9 billion:
Currency		DATE
USD		2010
Turnover		107,900,000,000
Net Income		2,600,000,000
The cash flow is		Normal

Currency	DATE
USD	2009
Turnover	116,579,000,000
Net Income	3,334,000,000
Current Assets	36,615,000,000
Fixed Assets	32,353,000,000
Net worth	20,561,000,000
Liabilities	20,808,000,000
The cash flow is	Normal

Currency	DATE
USD	2008
Turnover	120,439,000,000
Net Income	3,951,000,000
Current Assets	40,645,000,000
Fixed Assets	28,360,000,000
Net worth	19,557,000,000
Liabilities	27,528,000,000
The cash flow is	Normal

Legal Fillings

There are several UCC** files listed with the Secretary of State of Delaware and Minnesota.

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 big sized company, with 160,000 employees worlwide and 146 years of experience. It is a well established company with international presence through its many subsidiaries. Even though the company is a private company, it reports its earnings on a quarterly basis. For the full fiscal year, Cargill earned $2.6 billion, a 22 percent decrease from $3.33 billion in the prior year. Full-year revenues were $107.9 billion compared with $116.6 billion a year ago, a 7 percent decrese. Profitability is medium. A credit line may be considered for USD 2,000,000.-

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

APPENDIX
Position
	Accounts Payable
Comments
	We have called the company but we were transferred directly into the General Voicemail of the Accounts Payable. We left a message explaining the reason for our calling, but nobody has called us back yet.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.42
UK Pound	1	Rs.70.95
Euro	1	Rs.63.63

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.