|
Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZISSIMOS
DIMITRIOS |
|
|
|
|
Registered Office : |
10 Legaki, 18233
Agios Ioannis Rentis, Attiki
|
|
|
|
|
Country : |
Greece |
|
|
|
|
Date of Incorporation : |
01.01.1989 |
|
|
|
|
Legal Form : |
Proprietorship
Concern |
|
|
|
|
Line of Business : |
· manufacturer of iron and steel forgings. ·
engaged
in processing and trading of lead metal structures. ·
Engaged as contractors structural steel erection |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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) |
|
Greece |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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 concern. 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.
|
Source
: CIA |
Name ZISSIMOS
DIMITRIOS
ADDRESS: 10 LEGAKI
18233 AGIOS IOANNIS RENTIS
ATTIKI
GREECE
TELEPHONE: 30 2103459270
TELEFAX: 30 2103451607
E-MAIL
ADDRESS: dimzis@otenet.gr
Please note that
due to the lack of official financial information, we feel unable to express a
safe and reliable opinion regarding concern’s financial status and maximum
credit.
|
ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS
OTHERWISE STATED |
|
|
|
|
|
|
|
STARTED: 1989
|
|
|
|
YEAR INC: 1989
|
|
|
|
LEGAL FORM:
PROPRIETORSHIP |
|
|
|
EMPLOYS: 0
|
|
|
|
SIC: 1791 3462
|
|
|
|
ACTIVITY: CONTRACTORS STRUCTURAL STEEL ERECTION |
Dimitrios
Konstantinos Zissimos
Proprietor
National Bank of
Greece S.A., Kaminia Branch branch., Dodekanisou 26 & Ermoupoleos, Piraeus
18547, Greece.
Telephone: 30
2104810054
Subject has
registered secured charges which include the below:
A charge for an
amount of 200,000 Euro was registered on 1, 2000. The charge is secured against
Number of Items: 1.
A charge for an
amount of 180,000 Euro was registered on 1, 2000. The charge is secured against
Number of Items: 1.
Informants report
that subject’s payment could not be determined.
BACKGROUND
Business started
Jan 1, 1989.
Subject moved from
2 P. Origoni, 18541 Piraeus Attiki on Feb 15, 2001.
LEGAL FORM
Proprietorship
registered on Jan 1, 1989 for a period ending Dec 31, 9999.
Tax Registration
Number: 020648366
Local Activity
Code: 2511
Local Activity
Code Type: STAKOD
Equivalent
to: NACE 1
Subject Concern is
involved as manufactures of iron and steel forgings.
It is further
engaged in processing and trade of lead metal structures.
Subject
distributes its goods mainly by wholesale.
Subject does not
export.
Imports from
China, Germany, India
Subject operates
from rented workshop, at heading address.
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 long established mainly manufacturing firm. It is noted that
the above report is according to data available in our files.
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.59.79 |
|
UK Pound |
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.