MIRA INFORM REPORT

 

 

Report Date :           

17.11.2012

 

 

 

 

Tel. No.:

+21321328307

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

No trace

 

 

Payment Behaviour :

---

 

 

Litigation :

---

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Algeria

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Algeria - ECONOMIC OVERVIEW

 

Algeria's economy remains dominated by the state, a legacy of the country''s socialist post-independence development model. In recent years the Algerian Government has halted the privatization of state-owned industries and imposed restrictions on imports and foreign involvement in its economy. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter. It ranks 16th in oil reserves. Thanks to strong hydrocarbon revenues, Algeria has a cushion of $173 billion in foreign currency reserves and a large hydrocarbon stabilization fund. In addition, Algeria''s external debt is extremely low at about 2% of GDP. Algeria has struggled to develop industries outside of hydrocarbons in part because of high costs and an inert state bureaucracy. The government''s efforts to diversify the economy by attracting foreign and domestic investment outside the energy sector have done little to reduce high youth unemployment rates or to address housing shortages. A wave of economic protests in February and March 2011 prompted the Algerian Government to offer more than $23 billion in public grants and retroactive salary and benefit increases. Public spending has increased by 27% annually during the past five years. Long-term economic challenges include diversification from hydrocarbons, relaxing state control of the economy, and providing adequate jobs for younger Algerians.

 

Source : CIA

 

 

 

 

 

SUBJECT'S NAME

           

Registered Name:                                    FLORENCE / ANAS MESHALAH

Requested Name:                                    FLORENCE / ANAS MESHALAH.

Other Names:                                          None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:                                   20, Zone d'activite, Lot#29, Zeralda, Algeria

Phone:                                                    213-21328307

 

 

CREDIT OPINION

 

A Search was conducted with the Chamber of commerce, trade Ministry, Physical address which could not assist in tracing the company and also with the Telephone directories, the Telephone number was never answered, in the view that we have exhaustively traced the company with no success. We recommend secured credit only.

 

However should Further Information be available, E.g. telephone, Fax, Email additional Investigations will be conducted

 

Important Note:

Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.