MIRA INFORM REPORT

 

 

Report No. :

308744

Report Date :

26.02.2015

 

IDENTIFICATION DETAILS

 

Name :

SPINOS ANDREAS

 

 

Registered Office :

Faidrou,, Postal Code: 19003, PO Box: 4009,, Building name: Mazogere Merenta, Markopoulo,Attica, Attica

 

 

Country :

Greece

 

 

Date of Incorporation :

01.01.2003

 

 

Com. Reg. No.:

64135603000

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Subject is engaged in construction & engineering, landscape architecture services.

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Greece

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 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.

 

Source : CIA

 

Company name and address

 

Registered Name          SPINOS ANDREAS

Trade Name                  SPINOS ANDREAS

Registered Address

 

Faidrou,, Postal Code: 19003, PO Box: 4009,, Building name: Mazogere Merenta, Markopoulo,

Attica,, Attica, Greece

 

Status                          Registered and operational

Legal Type                   Sole Proprietorship

VAT Number                056769819

Registration No            64135603000                 Registration Date                      01/01/2003

Start Date                     01/01/2003                    Years of Operation                   12

CR number                   64135603000

CINFO ID                      23391053

 

 

Corporate Structure

 

 

Directors          Position           ID         Occupation      Age      Appointed        Other dir.

No information available

 

Secretary          Position           ID         Occupation      Age      Appointed        Other dir.

No information available

 

Other    Relations                      Position           ID         Appointed

 

Spinos, Andreas Chief Executive Officer 056769819

 

Shareholders   ID/Reg. No.      Nationality        Shares             %

SPINOS, Andreas                     Unknown           0                      100

 

 

Other Directorship

 

Name               Registration date          Reg. No            Status              Position           Update date

No information available

 

Other Shareholding:

Name               Registration date          Reg. No            Status              Update date

No information available

 

Operation

 

Activity Code Description

4534 Other building installation

 

 

Line of business

 

The subject company is engaged in Construction & engineering, Landscape architecture Services.

 

 

NOTE

 

Please note that the latest financial details were not available at the file of the company at the official companies'

registry house; as the law provides for all companies. No financial details were available from other public sources.

 

 

Additional Information

 

CONCLUSION

 

Subject was established in 2003 having a legal seat at Markopoulo Attica and is engaged in landscaping work contractors.

 

Please note that the subject declined to release any further detailed and latest financial information neither such data was found being officially published.

 

Please note that the information provided in this report was obtained from official and publicly available sources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.04

UK Pound

1

Rs.96.02

Euro

1

Rs.70.42

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ASH

 

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%)

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