Export Financial Services, Inc.

A Tradition of Responding to the Needs of our Clients

Medium-term Credit Standards

Ratio Requirements

For Transactions over $1 Million:

Positive operating profit and net income in each of last 2 fiscal years
Positive cash from operations in last fiscal year
EBITDA/debt service (including Exim debt if more than 25% of total debt) is at least 1.5 for last fiscal year
Total liabilities (excluding Exim debt) do not exceed 1.75 times tangible net worth at end of last fiscal year
Exim exposure does not exceed 40% of tangible net worth at end of last fiscal year
Interim statements disclose no material adverse change in financial condition