|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SEABLUE |
|
|
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Registered Office : |
8, Rue Des Fabres Marseille, 13001 |
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|
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Country : |
France |
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|
|
|
Financials (as on) : |
31.05.2012 |
|
|
|
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Date of Incorporation : |
15.06.2000 |
|
|
|
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Com. Reg. No.: |
432083558 |
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Legal Form : |
Private Independent |
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|
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Line of Business : |
Subject is engaged in non-specialised wholesale of food,
beverages and tobacco |
|
|
|
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No. of Employees : |
16 |
RATING & COMMENTS
|
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 |
|
|
|
|
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) |
|
France |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 4.8% of GDP in 2012, while France's
public debt rose from 68% of GDP to 90% 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.
|
Source
: CIA |