MIRA INFORM REPORT

Report Date :

16.03.2011

IDENTIFICATION DETAILS

Name :	SAC INTERNATIONAL STEEL INC (SAC INTERNATIONAL STEEL)
Registered Office :	6130 S. Avalon Blvd. Los Angeles, CA 90003
Country :	United States
Date of Incorporation :	10.04.1998
Legal Form :	Corporation for Profit
Line of Business :	Distributor and exporter of prime, excess, and secondary metal products.

RATING & COMMENTS

MIRA’s Rating :

B

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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
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
Legal Name:	SAC International Steel Inc (SAC International Steel)
Trade Name:	SAC International Steel
Legal Address	6130 S. Avalon Blvd. Los Angeles, CA 90003 USA
Operative Address	6130 S. Avalon Blvd. Los Angeles, CA 90003 USA
Telephone:	+1 (323) 232-2467	ID :	C2084425
Fax:	NA	Legal Form:	Corporation for Profit
Email:	info@sacsteel.com	Registered in:	California
Website:	http://www.sacsteel.com	Date Created:	1995
Manager:	Ali Chohan, President	Date Incorporated:	April 10, 1998
Staff:	75	Stock:	NA
		Value:	NA
Activity:	Distributor and exporter of prime, excess, and secondary metal products.

BANKS
Name of the Bank	US BANK NATIONAL ASSOCIATION
Name of the Bank	BANK OF THE WEST
Name of the Bank	BANK OF AMERICA, N.A.
Name of the Bank	Nara Bank NA
Name of the Bank	Alliance Bank

BUSINESS
HISTORY
	In 1995, the company moved the corporate head offices from Toronto to Los Angeles, California.
PRINCIPAL ACTIVITY
	The company is a global distributor and exporter of prime, excess, and secondary metal products.
Products/Services description:
	Reinforcing Steel Bars Wire Rod Beams Hot Rolled Coils, Strips, Sheets Cold Rolled Coils, Strips, Sheets Iron Ore
Sales are:
	Wholesale
Clients:
	Various industries
Operations area:
	National, International
The company does not import
The company export to worldwide
The subject employs 75 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at 6130 S. Avalon Blvd. Los Angeles, CA 90003, U.S.
Branches:
	The company has several branches throughout the U.S. Chicago Office Hancock Center 875 North Michigan Ave, Suite 3100 Chicago, Il 60611 Sacramento Office 980 Ninth Street 16th Floor, Suite 1600 Sacramento, CA 95814

Shareholders - Manager - Related Companies
Shareholders Parent Company(ies):
	This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.
Management:
	Ali Chohan, President Mahmooda Chohan, Sec Kamal Chohan, Sales Manager Maria Ocana, Execituve

Financials - COMMERCIAL TRENDS AND FORECAST

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

We have contacted the company but refused to provide us any financial data on grounds of confidentiality.

Legal Fillings

There are 17 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 Low credit rate. The company is in Good Standing. This means that all local and federal taxes were paid on due date.
Final Opinion
	This company has been incorporated for business for 12 years; it has a staff of 75 employees which makes it a medium sized company. There were no legal fillings found against the company or its legal representatives. Even though we do have payment experience, no trade references were provided. Therefore, 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
Person Interviewed
	Receptionist
Comments
	We have contacted the receptionist who refused to provide us any financial data on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.27
UK Pound	1	Rs.72.95
Euro	1	Rs.63.08

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.