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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ELEFTHERIOU ELENI-IOANNA |
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Registered Office : |
10 Ioustinianou, 54631 Thessaloniki |
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Country : |
Greece |
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Date of Incorporation : |
15.03.2012 |
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Legal Form : |
Proprietorship Concern |
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Line of Business : |
Wholesales footwear Wholesale trade of shoes, Details regarding subject's clientele are
not available |
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No. of Employees : |
Not available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
New Concern |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Greece |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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.
|
Source : CIA |
ELEFTHERIOU ELENI-IOANNA
ADDRESS: 10 IOUSTINIANOU
54631 THESSALONIKI
THESSALONIKI
GREECE
TELEPHONE: 30 2310231411
TELEFAX: 30 2310552855
Non Retrievable
EMPLOYS: UNKNOWN
Non Retrievable.
Non Retrievable
Non Retrievable
STARTED: 2012
YEAR INC: 2012
LEGAL FORM: PROPRIETORSHIP
SIC: 5139
BACKGROUND
Business started Mar 15, 2012.
LEGAL FORM
Proprietorship registered on Mar 15, 2012 for a period ending Dec 31,
9999.
Tax Registration Number: 036430206
Non Retrievable.
Local Activity Code:
4642
Local Activity Code Type:
STAKOD
Equivalent to: NACE
1
ACTIVITY:
Wholesales footwear
Wholesale trade of shoes, Details regarding subject's clientele are not
available.
Subject does not import.
Subject does not export
Details concerning the principals of the business could not be
ascertained
It is noted that the above report is according to data available in our
files, as all our efforts to contact subject's principals were without any
result.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.