MIRA
INFORM REPORT
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Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
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Name : |
DEVCOT |
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Registered Office : |
19 Rue Eugene
Jacquet, 59800
Lille |
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Country : |
France |
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Date of Incorporation : |
September 1992 |
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Com. Reg. No.: |
RCS Lille 0 388 892
572 |
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Legal Form : |
Plc with management board |
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Line of Business : |
Trader of raw cotton Wholesale business of other
intermediate products |
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No. of Employees : |
20 to 49 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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France |
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 |
france ECONOMIC OVERVIEW
The French
economy is diversified across all sectors. The government has partially or fully
privatized many large companies, including Air France, France Telecom, Renault,
and Thales. However, the government maintains a strong presence in some
sectors, particularly power, public transport, and defense industries. With at
least 79 million foreign tourists per year, France is the most visited country
in the world and maintains the third largest income in the world from tourism.
France's leaders remain committed to a capitalism in which they maintain social
equity by means of laws, tax policies, and social spending that reduce income
disparity and the impact of free markets on public health and welfare. France's
real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011,
before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to
10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of
2012 in metropolitan France. Lower-than-expected growth and high unemployment
costs have strained France's public finances. The budget deficit rose sharply from
3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP in
2012, while France's public debt rose from 68% of GDP to 89% over the same
period. Under President SARKOZY, Paris implemented some austerity measures to
bring the budget deficit under the 3% euro-zone ceiling by 2013 and to
highlight France's commitment to fiscal discipline at a time of intense
financial market scrutiny of euro-zone debt. Socialist Party candidate Francois
HOLLANDE won the May 2012 presidential election, after advocating pro-growth
economic policies, the separation of banks' traditional deposit taking and
lending activities from more speculative businesses, increasing the top
corporate and personal tax rates, and hiring an additional 60,000 teachers
during his five-year term. The government's attempt to introduce a 75% wealth
tax on income over one million euros for two years was struck down by the
French Constitutional Council in December 2012 because it applied to
individuals rather than households. France ratified the EU fiscal stability
treaty in October 2012 and HOLLANDE's government has maintained France's
commitment to meeting the budget deficit target of 3% of GDP during 2013 even
amid signs that economic growth will be lower than the government's forecast of
0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs
declined during the second half of 2012 to euro-era lows.
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Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
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company summary |
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Company details |
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Activity (APE) |
Wholesale business of other
intermediate products Trader of raw cotton |
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RCS Registration |
RCS Lille 0 388 892 572 |
Share
capital |
3,051,000 Euros |
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Registration Court |
Lille (59) |
Legal
form |
Plc with
management board |
|
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Court Registry Number |
20 0 0B012 |
EUR VAT Number |
FR43388892572 |
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Incorporation Date |
10/1992 |
Formation Date |
09/1992 |
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Deregistration Date |
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Last account Date |
N/A |
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Nationality |
France |
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Establishment
details |
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Activity (APE) |
Commerce
de gros (commerce interentreprises) d'autres produits
intermédiaires (4676Z) |
Business
Pages FT® |
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Postal Address |
DEVCOT
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Trading
Address |
19 RUE
EUGENE JACQUET |
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Telephone |
03 20
15 40 70 |
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Fax |
03 20 06 38 80 |
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Type |
Head office (one site company) |
Status |
Economically active |
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Formation Date |
09/1992 |
Reason for formation |
Formation |
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Closure Date |
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Reason for closure |
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Reactivation Date |
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Production Role |
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Activity Nature |
- |
Activity Location |
Other |
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Location surface |
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Seasonality |
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Department |
Nord (59) |
Region |
Nord-Pas-de-Calais |
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District |
5 |
Area |
92 |
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City |
LILLE |
Size of urban area |
Urban unit with 200 000 to 1 999 999
inhabitants |
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Other
establishments |
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Branches |
1 branch entities in this company |
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Head office |
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Secondary establishments |
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Regionality |
Legal unit with all establishments in same
area |
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Mono-activity status |
Legal unit having all establishments with
the same main activity |
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Workforces |
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Workforce at address |
20 to 49 employees |
Company workforce |
20 to 49 employees |
DIRECTORS/MANAGEMENT
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Current Directors |
2 |
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directors |
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Previous Directors
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NEGATIVE INFORMATION
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judgements |
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Social security, pension funds preferential
rights | Tax office preferential rights Preferential
rights details and history Summary of
preferential rights
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SHARE & SHARE CAPITAL
INFORMATION
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Share
capital |
3,051,000 Euros |
GROUP STRUCTURE & AFFILIATED
COMPANIES
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Linkages |
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ADDITIONAL INFORMATION
No social security and tax office preferential right
to date
Commentary
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The comments are arranged in decreasing
order of importance |
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Financial statements overdue. |
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High risk workforce size |
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The company is 20
years old |
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Industry code with
low risk rating |
event history
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.91 |
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UK Pound |
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
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 |
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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.