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Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
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Name : |
GROUIOS, I, & CO E.E |
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Registered Office : |
5 Filippoupolis 65404 Kavala Kavala
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Country : |
Greece |
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Date of Incorporation : |
04.04.2007 |
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Legal Form : |
Ltd partnership |
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Line of Business : |
Subject Provides electric services |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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) |
|
Greece |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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 |
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, 6.9% in 2011, and 6.0% in 2012. 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 about 8% in 2012. Deteriorating public finances,
inaccurate and misreported statistics, and consistent underperformance on
reforms prompted major credit rating agencies to downgrade Greece's
international debt rating in late 2009, 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, overhauling 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 Euro-Zone 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.
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Source
: CIA |
GROUIOS, I, & CO E.E
ADDRESS: 5 FILIPPOUPOLIS
65404
KAVALA
KAVALA
GREECE
TELEPHONE: 30 2510247572
E-MAIL ADDRESS: pakafo@otenet.gr
Business started Apr 4, 2007.
Legal Form: Ltd partnership registered on Apr 4, 2007 for a period ending Dec 31,
9999.
Tax Registration Number: 998479234
Ioannis Konstantinos Grouios
Administrator/Partner
Bank of Piraeus S.A., Kavala Branch, Omonoias
& P. Mela, Kavala 65302, Greece.
Telephone: 30 2510621410
New Proton Bank S.A., Kavala Branch branch,
102 Omonias St., Kavala 65302, Greece.
Telephone: 30 2106970000
Ioannis Grouios holds 99.00% of the voting
capital.
Fotios Karapolidis holds 1.00% of the voting
capital.
Local Activity Code: 3511
Local Activity Code Type: STAKOD
Equivalent to: NACE 1
Provides electric services
Contractors - electrical work
Production of electricity (Photovoltaic Park).
Electric and mechanical installations
The subject does not import.
The subject does not export.
This information is not available.
The below mentioned financial figures are in
Euro
On Sep 20, 2013
Sales for the 07 month period ending Jul 31,
2012 were 2,413,000.
Sales for the 12 month period ending Dec 31,
2011 were 2,413,000.
Sales for the 12 month period ending Dec 31,
2010 were 232,000.
Please note that the subject declined to
release any further detailed and latest financial information neither such data
was found being officially published.
No Press / Media available at present.
Information in this report was obtained from official and publicly
available sources.
No further information concerning the subject company was retrieved.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.66 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
---- |
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.