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Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
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Name : |
FRANK SOMMER UND RENE GRUBBA |
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Registered Office : |
Türrschmidtstr. 16, D 10317 |
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Country : |
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Date of Incorporation : |
01.08.1991 |
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Legal Form : |
Partnership under the Civil Code |
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Line of Business : |
·
Wholesale of
leather goods, luggage, giftware and
advertising articles ·
Retail sale
of leatheware and baggage |
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No. of Employees : |
2 |
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 : |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
GERMANY - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. By 2014, the federal government wants to balance its budget. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production.
|
Source
: CIA |
FRANK SOMMER UND RENE GRUBBA
Company Status: active
Türrschmidtstr. 16
D 10317 Berlin
Telephone:030/92215990
Telefax: 030/55492356
Homepage:
www.branco-lederwaren.de
E-mail: mail@branco-lederwaren.de
Trade name: Sommer
& Grubba GbR BRANCO
Lederwarengroßhandel Berlin
VAT no.: DE136950570
Tax ID number: 32/537/60148
Business relations are permissible.
LEGAL FORM Partnership
under the Civil Code
Date of foundation: 01.08.1991
Begin of business
activities: 01.08.1991
General partner:
Rene Grubba
Hausburgstr. 12
D 10249 Berlin
born: 17.07.1965
Marital status: unknown
General partner:
Frank Sommer
D 10317 Berlin
born: 03.03.1962
Marital status:
unknown
Sectors
46493
Wholesale of leather goods, luggage, giftware and advertising articles
47722
Retail sale of leatheware and baggage
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Type of ownership: Tenant
Address Türrschmidtstr.
16
D 10317 Berlin
Land register documents were not available.
LANDESBANK BERLIN - BERLINER SPARKASSE, BERLIN
Sort. code: 10050000, Account no.: 1733320225,
BIC: BELADEBEXXX
Financial year: 01.01. - 31.12.
Turnover: 2012 *EUR 265,000.00
2013 *EUR 265,000.00
further business figures:
Equipment: EUR 15,000.00
Ac/ts receivable: *EUR 18,000.00
Liabilities: *EUR 46,000.00
Employees:
2
The business figures marked with an asterisk
are estimates based on average values in the line of business.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.