|
Report Date : |
17.08.2013 |
RATING & COMMENTS
|
MIRA’s Rating : |
|
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Ukraine |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ukraine - ECONOMIC OVERVIEW
After Russia, the Ukrainian republic was the most important
economic component of the former Soviet Union, producing about four times the
output of the next-ranking republic. Its fertile black soil generated more than
one-fourth of Soviet agricultural output, and its farms provided substantial
quantities of meat, milk, grain, and vegetables to other republics. Likewise,
its diversified heavy industry supplied the unique equipment (for example,
large diameter pipes) and raw materials to industrial and mining sites
(vertical drilling apparatus) in other regions of the former USSR. Shortly
after independence in August 1991, the Ukrainian Government liberalized most
prices and erected a legal framework for privatization, but widespread
resistance to reform within the government and the legislature soon stalled
reform efforts and led to some backtracking. Output by 1999 had fallen to less
than 40% of the 1991 level. Ukraine's dependence on Russia for energy supplies
and the lack of significant structural reform have made the Ukrainian economy
vulnerable to external shocks. Ukraine depends on imports to meet about
three-fourths of its annual oil and natural gas requirements and 100% of its
nuclear fuel needs. After a two-week dispute that saw gas supplies cutoff to
Europe, Ukraine agreed to 10-year gas supply and transit contracts with Russia
in January 2009 that brought gas prices to "world" levels. The strict
terms of the contracts have further hobbled Ukraine's cash-strapped state gas
company, Naftohaz. Outside institutions - particularly the IMF - have
encouraged Ukraine to quicken the pace and scope of reforms to foster economic
growth. Ukrainian Government officials eliminated most tax and customs
privileges in a March 2005 budget law, bringing more economic activity out of
Ukraine's large shadow economy, but more improvements are needed, including
fighting corruption, developing capital markets, and improving the legislative
framework. Ukraine's economy was buoyant despite political turmoil between the
prime minister and president until mid-2008. Real GDP growth exceeded 7% in
2006-07, fueled by high global prices for steel - Ukraine's top export - and by
strong domestic consumption, spurred by rising pensions and wages. A drop in
steel prices and Ukraine's exposure to the global financial crisis due to
aggressive foreign borrowing lowered growth in 2008. Ukraine reached an
agreement with the IMF for a $16.4 billion Stand-By Arrangement in November
2008 to deal with the economic crisis, but the program quickly stalled due to
the Ukrainian Government's lack of progress in implementing reforms. The
economy contracted nearly 15% in 2009, among the worst economic performances in
the world. In April 2010, Ukraine negotiated a price discount on Russian gas
imports in exchange for extending Russia's lease on its naval base in Crimea.
In August 2010, Ukraine, under the YANUKOVYCH Administration, reached a new
agreement with the IMF for a $15.1 billion Stand-By Agreement. Economic growth
resumed in 2010 and 2011, buoyed by exports. After initial disbursements, the
IMF program stalled in early 2011 due to the Ukrainian Government's lack of
progress in implementing key gas sector reforms, namely gas tariff increases.
Economic growth slowed in the second half of 2012 with Ukraine finishing the
year in technical recession following two consecutive quarters of negative
growth.
|
Source
: CIA |
CRISTAL OIL LIMITED
We have not managed to identify the subject company.
The company matching the given name is not found in the State Register of Ukrainian Companies.
Street address 17 Rishelyevskaya str. is located in Odessa, however index code 95000 is registered in Simferopol.
Generally there are above 10 companies not matching the subject name listed in the State Register by the address 17 Rishelyevskaya str., Odessa.
The subject company is not listed in city on-line services/directories by the given name+address.
The subject company is not listed by the given name/address in internet.
Could you, please, specify which one company is the subject of your interest?
Would you please furnish us with any further details (EDRPOU code /other ID numbers, correct legal name, contact numbers, actual legal address) till 15.09.2013 so that we
can continue our search.
Otherwise we will be forced to close the report.
Please, be advised that new name will be accepted as a new order but not as an additional information.
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 : |
SDA |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.