MIRA INFORM REPORT

 

 

Report Date :           

06.07.2013

 

 

 

 

Tel. No.:

34 60 2597354

 

 

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 – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

spain ECONOMIC OVERVIEW

 

After almost 15 years of above average GDP growth, the Spanish economy began to slow in late 2007 and entered into a recession in the second quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by another 0.3% in 2010; GDP expanded 0.4% in 2011, before contracting 1.4% in 2012. The economy has once again fallen into recession as deleveraging in the private sector, fiscal consolidation, and continued high unemployment weigh on domestic demand and investment, even as exports have shown signs of resiliency. The unemployment rate rose from a low of about 8% in 2007 to 26.0% in 2012. The economic downturn has also hurt Spain's public finances. The government budget deficit peaked at 11.2% of GDP in 2010 and the process to reduce this imbalance has been slow despite the central government's efforts to raise new tax revenue and cut spending. Spain reduced its budget deficit to 9.4% of GDP in 2011, and roughly 7.4% of GDP in 2012, above the 6.3% target negotiated between Spain and the EU. Although Spain's large budget deficit and poor economic growth prospects remain a source of concern for foreign investors, the government's ongoing efforts to cut spending and introduce flexibility into the labor markets are intended to assuage these concerns. The government is also taking steps to shore up the banking system, namely by using up to $130 billion in EU funds to recapitalize struggling banks exposed to the collapsed domestic construction and real estate sectors.

 

Source : CIA

 

 

 

 

given Name

 

HISPANIC PROCUREMENT AGENCY

 

given Address 

 

Paseo de la Castellana 44 28046

 

Telephones:     60 2597354

 

 

Investigation Results

 

Despite the investigations carried out using all the available sources and with the data provided in your request, it has not been possible to locate the subject. We do hereby detail the results of our investigations:

 

Despite several calls made at different days and times at the telephone number provided by you 602597354 it has not been possible to contact the subject company. The complementary data provided to continues with out investigations are the same that we did indicate in previous requests. Besides, an e-mail has been sent to the address that the company mentions on its website www.hprocagcy.com (info@hprocagcy.com) no answer has been received so far. The Hispanic Procurement Agency operates as an autonomous entity owned by the Government of Spain. Jose Abad Camcho is the COE of the subject.

 

Not registered in the Information Service of the Mercantile Register.

 

With the data provided in your request we are finding some difficulties to elaborate the requested report. In case you might have it please do send us the NIF so as to identify the company correctly and check it in the different public and private databases.

 

So as to provide you a much more effective investigation we do recommend you to supply all additional data you may have so as to open new investigation ways and, this way obtain more 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 :

MNL

 

 

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

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