MIRA
INFORM REPORT
|
Report Date : |
11.05.2013 |
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 : |
Undetermined |
|
|
|
|
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 |
INVESTIGATED
REPORT NOT REGISTERED: NOT OFFICIALLY REGISTERED
Data of your request
Registered Name: INOXCROM
Complete Address: Conde de Salvatierra, 5 O-109 08006
Telephones: 34 93 368 64 43
Investigation
Results
We send you this writing to communicate that according to our investigations the company name of your request is not registered yet in the information Service of the Mercantile Register and, up to the present, there's no public data on its inscription in the register; they have indicated that they are handling it. Nevertheless, we do hereby detail the results of our investigations:
Other
Complementary Information
We have contacted with Mr. Jordi Villanueva in the mobile phone 661590261 he confirms that the name INOXCROM is the commercial brand name that they represent through the new company that they are constituting. The Registered name of the new company is INOXGRUP SCCL, that is on its constitution phase, the nif of this new cooperative is F65821274, the activity to be developed would be the manufacturing and commercialisation of pens and office material. For the moment they do indicate that they do not have a beginning date for the commercial activities. The address provided on its request C/Conde de Salvatierra, 5 in Barcelona as well as the telephone numbers mentioned in your request 933686446 and 661590304 correspond to a market research company that is carrying out a feasibility study for the new cooperative.
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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
UK Pound |
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.11 |
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.