MIRA INFORM REPORT

 

           

Report Date :

16.05.2008

 

IDENTIFICATION DETAILS

 

Name :

BALUCO S.A.

 

 

Registered Office :

182 Androutsou & Bouboulinas 18535, Piraeus, Attiki

 

 

Country :

Greece

 

 

Date of Incorporation :

11.10.2001                                            

 

 

Legal Form :

Foreign Company

 

 

Line of Business :

Trade of Lubricants and Fuel for Ships

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Foreign Registered Company

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

name & address

 

BALUCO S.A.

182 Androutsou & Bouboulinas

18535, Piraeus, Attiki

Tel.: 210 4190562

Fax: 210 4190566

U.R.L.: www.baluco.com

E-mail: balucosa@otenet.gr

 

Sector                                      : Foreign Companies (Law 89/67)

Year Established                      : 2001

Staff of employees                    : The number of staff employed is not available

 

 
 
 FINANCIAL STATUS      : -                                               
 PAYMENT RECORD      : Prompt                                          
 TREND                           : Not defined
 
 
GOV. GAZETTE No: -                                                             
TAX REGISTR. No: 999859333
 
 
LEGAL FORM:                      Foreign Company Repres. Office (Law 89/67)                                                                         
DATE ESTABLISHED:          11/10/2001                                             
HEAD OFFICE:                     Panama
 
 
                                                                               

HISTORY                                                                      

 
Subject is a foreign company established in Panama, in 2000, opened offices in Greece in 2001, under the provisions of Law  0089/1967 (ammended by Law 0378/68). Said Law entitles foreign                 
companies of any type or form, legally operating in the country  of their registration, to establish a branch office or agency in  Greece provided these companies are exclusively engaged in                commercial business whose object lies outside Greece. In addition  the law offers certain exemptions and privileges. On 31.7.2005 subject moved its offices from 170 Ypsilantou Str., Piraeus, to   the above mentioned address.
 
 

ACTIVITY                                                                     

 
Trade of lubricants and fuel for ships
 
PREMISES (as declared ):                                                       
OFFICES: 182 Androutsou & Bouboulinas, 185-35 Piraeus, Attiki,                
rented, covered area 170 m2.                                                   
HEAD OFFICE: Panama.
 
 

STAFF                                                                      

 
The number of staff employed is not available.

 

BOARD OF DIRECTORS                                                           

 
Subject's legal representative in Greece (as declard) is Mrs                  
Angeliki Armata.

 

FINANCIAL DATA                                                              

 
Given its legal form subject is not legally obliged to publish  its accounts. Furthermore, financial details were not stated.

 

 

BUSINESS TRANSACTION INDEX                                                     

 
Subject                                                                       
                                                                               
                         2008      2007      2006      2005      2004                       
            ----      ----      ----      ----      ----                       
 Group 1: 5*(5.00)  5*(5.00)  5*(5.00)  5*(5.00)  5*(5.00)                     
 Group 2: 5*(5.00)  5*(5.00)  5*(5.00)  5*(5.00)  5*(5.00)                     
 Group 3: 5*(5.00)  5*(5.00)  5*(5.00)  5*(5.00)  5*(5.00)                     
 Total  : 5*(5.00)  5*(5.00)  5*(5.00)  5*(5.00)  5*(5.00)                     
                                                                               
Final Result: 5Stars (5.00)                                                   
                                                                               
Index: 5*, 4*, 3*, 2*, 1*, NA (Not applicable)
 
 

BANKS                                                                   

 
Marfin Egnatia Bank S.A.                                                      
  Piraeus Branch (tel.:21-04529770)                                           
EFG EUROBANK ERGASIAS S.A.                                                    
  Naftiliako (Akti Miaouli) Branch (tel.:21-04587787)                         
Bank of Piraeus S.A.                                                          
  Papastratos Branch (tel.:210-4101980)                                       
Probank S.A.                                                                  
  Piraeus Branch (tel.:210-4101920)

Updated report will be sent to you in few days later.

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. 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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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