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Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
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Name : |
AZELIS ESPANA SA |
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Registered Office : |
Pl. De La Pau, S/N Wtc Almeda Park. Cornella De Llobregat, 08940 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
A61744033 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Wholesale trade in chemicals for the pharmaceutical,
veterinary, cosmetic, food and fine chemical industries |
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No. of Employees : |
77 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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 – 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 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |