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Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
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Name : |
FINTIKAKI FANI - MIRSINI |
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Registered Office : |
105 Har. Trikoupi, 11473 Athens, Attiki |
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Country : |
Greece |
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Date of Incorporation : |
03.04.2008 |
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Legal Form : |
Proprietorship |
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Line of Business : |
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Wholesales footwear ·
Imports and wholesale trade of leather goods and accessories ·
Wholesales nondurable goods |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Greece |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 18% 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 averaged growth of
about 4% per year between 2003 and 2007, 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. By 2013 the economy
had contracted 26%, compared with the pre-crisis level of 2007. Greece met the EU's Growth and Stability Pact budget deficit criterion of
no more than 3% of GDP in 2007-08, but violated it in 2009, with the deficit
reaching 15% of GDP. Austerity measures have reduced the deficit to about 4% in
2013, including government debt payments. 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 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 continue pushing 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, called for holders of
Greek government bonds to write down a significant portion of their holdings.
As Greek banks held a significant portion of sovereign debt, the banking system
was adversely affected by the write down and €41 billion of the second bailout
package was set aside to ensure the banking system was adequately capitalized.
In exchange for the second loan Greece promised to introduce an additional $7.8
billion in austerity measures during 2013-15. However, the massive austerity
cuts have prolonged Greece's economic recession and depressed tax revenues.
Throughout 2013, Greece's lenders called on Athens to step up efforts to
increase tax collection, dismiss public servants, privatize public enterprises,
and rein in health spending. In June 2013 Prime Minister Antonis
SAMARAS's efforts to meet bailout conditions led to
the departure of one party, the Democratic Left, from the governing coalition
when his government made the controversial decision to shut down and
restructure the state-owned television and radio company. Subsequent reluctance
to institute further cuts and delays in meeting public sector reform targets
prompted Greek lenders to withhold bailout fund disbursements until December
2013. However, investor confidence began to show signs of strengthening by the end
of 2013 as leading macroeconomic indicators suggested the economy’s freefall
had been arrested.
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Source
: CIA |
Company : FANI MYRSINI
FINTIKAKI
GivenAddress : 105, Har. Trikoupi Street
114 73 Athens,
Greece
Name FINTIKAKI
FANI - MIRSINI
ADDRESS: 105
HAR. TRIKOUPI
11473 ATHENS
ATTIKI
GREECE
TELEPHONE: 30 2103807351
TELEFAX: 30 2103807351
E-MAIL ADDRESS: mfintikaki@yahoo.gr
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ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS
OTHERWISE STATED |
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STARTED: 2008
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YEAR INC: 2008
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LEGAL FORM:
PROPRIETORSHIP
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EMPLOYS: 0
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SIC: 5199 5139
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ACTIVITY: WHOLESALES
NONDURABLE GOODS |
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Fani - Myrsini Nikolaos Fyntikaki |
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proprietor |
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Alpha Bank A.E., Ippokratous
Branch branch., 86 Ippokratous,
Athens |
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11427, Greece. |
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Telephone: 30 2103639211 |
Informants report that subject’s payment could not be determined.
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BACKGROUND |
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Business started Apr 3, 2008. |
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LEGAL FORM |
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Proprietorship registered on Apr 3, 2008
for a period ending Dec 31, 9999. |
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Tax Registration Number: 062347640 |
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Local Activity Code: 4649 |
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Local Activity Code
Type: STAKOD |
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Equivalent to: NACE 1 |
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Wholesales nondurable goods |
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Wholesales footwear |
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Imports and wholesale trade of leather
goods and accessories , Subject |
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distributes its goods on wholesale |
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Subject does not export. |
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Imports 100% from India |
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Normal importing terms are cash against
documents |
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EMPLOYS: 0 including 0 part-time staff. |
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The number of employees peaks to 0. |
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Operates from owned warehouse, at
heading address. |
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REGISTERED OFFICE: At heading address. |
Please note that no detailed and latest financial information was
released, neither such data was found being officially published.
Subject is a
trading firm engaged in the trade of leather goods and accessories.
Please note the
information provided in this report was obtained from official and publicly
available sources.
Further
information was not available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.26 |
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1 |
Rs.100.71 |
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Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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.