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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
KOSTAVARAS, EVANGELOS & CO. O.E. FETICHE |
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Registered Office : |
14 Olympiados,
Pefka-Retziki, 57010 Asvestochori, |
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Country : |
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Date of Incorporation : |
26.06.2000 |
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Legal Form : |
General partnership |
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Line of Business : |
Wholesaler of nondurable goods |
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No. of Employees : |
01 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Greece |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
greece - ECONOMIC OVERVIEW
Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by nearly 4% per year between 2003 and 2007, due partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. But the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. The economy contracted by 2.3% in 2009, 3.5% in 2010, and 6.0% in 2011. Greece violated the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP from 2001 to 2006, but finally met that criterion in 2007-08, before exceeding it again in 2009, with the deficit reaching 15% of GDP. Austerity measures reduced the deficit to 11% of GDP in 2010 and about 9% in 2011. Eroding public finances, inaccurate and misreported statistics, and consistent underperformance on reforms prompted major credit rating agencies in late 2009 to downgrade Greece's international debt rating, and has led the country into a financial crisis. Under intense pressure from the EU and international market participants, the government adopted a medium-term austerity program that includes cutting government spending, decreasing tax evasion, reworking the health-care and pension systems, and reforming the labor and product markets. Athens, however, faces long-term challenges to push through unpopular reforms in the face of widespread unrest from the country's powerful labor unions and the general public. In April 2010 a leading credit agency assigned Greek debt its lowest possible credit rating; in May 2010, the International Monetary Fund and Eurozone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. In exchange for the largest bailout ever assembled, the government announced combined spending cuts and tax increases totaling $40 billion over three years, on top of the tough austerity measures already taken. Greece, however, struggled to meet 2010 targets set by the EU and the IMF, especially after Eurostat - the EU's statistical office - revised upward Greece's deficit and debt numbers for 2009 and 2010. European leaders and the IMF agreed in October 2011 to provide Athens a second bailout package of $169 billion. The second deal however, calls for Greece's creditors to write down a significant portion of their Greek government bond holdings. In exchange for the second loan Greece has promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, these massive austerity cuts are lengthening Greece's economic recession and depressing tax revenues. Greece's lenders are calling on Athens to step up efforts to increase tax collection, privatize public enterprises, and rein in health spending, and are planning to give Greece more time to shore up its economy and finances. Many investors doubt that Greece can sustain fiscal efforts in the face of a bleak economic outlook, public discontent, and political instability.
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Source : CIA |
Company name: KOSTAVARAS,
EVANGELOS & CO. O.E. 'FETICHE' (Correct)
KOSTAVARAS
EVANGELOS CO O E (Requested)
TRADING STYLE: 'FETICHE'
ADDRESS: 14 OLYMPIADOS, PEFKA-RETZIKI
57010 ASVESTOCHORI
THESSALONIKI
GREECE
TELEPHONE: 30
2310673850
30 2310673053
TELEFAX: 30
2310673871
E-MAIL ADDRESS: fetiche.co@gmail.com
Michail-Angelos Evangelos Kostavaras - administrator
1 employee
Informants report that subject's payments are prompt.
National Bank of Greece S.A., Eptalofos Branch branch., 2 Meg.
Alexandrou, Ampelokipoi 56123, Greece.
Telephone: 30 2310732232
EFG EUROBANK ERGASIAS S.A., Eptalofos Branch branch., 27 Meg.Alexandrou,
Thessaloniki 54641, Greece.
Telephone: 30 2310720128
Sales for the 12 month period ending Dec 31, 2011 were 450,000 EURO.
BACKGROUND
Business started Jun 26, 2000.
LEGAL FORM
General partnership registered on Jun 26, 2000
Tax Registration Number: 099376460
Subject continues the business activities of the sole proprietorship
KOSTAVARAS EVANGELOS, originally founded in 1990.
Aidoni Kostavara holds 40.00% of the voting capital.
Athina Kostavara holds 30.00% of the voting capital.
Michail-Angelos Kostavaras holds 30.00% of the voting capital.
Local Activity Code: 4649
Local Activity Code Type: STAKOD
Equivalent to: NACE 1
Wholesales nondurable goods
Imports and wholesale trade of leather wallets
Exports 5% to Cyprus
Normal exporting terms are open account
Imports 100% from India
Normal importing terms are cash against documents
Subject produces the following brand(s):
FETICHE
No further information available for the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.97 |
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UK Pound |
1 |
Rs.87.50 |
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Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.