Way back in the day....I used to work very closely with Micro Focus. If you didn't know Micro Focus develop a COBOL compiler and IDE called NetExpress. Their latest offering includes support for a COBOL compiler than compiles to IL which plugs into Visual Studio 2008 so COBOL developers can write managed code. The latest version of NetExpress is v5.1.
Micro Focus did a case study on the company I worked for at the time here (if you're interested :))