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Report No. : |
327111 |
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Report Date : |
20.06.2015 |
IDENTIFICATION DETAILS
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Name : |
VERISFIELD (U.K.) LTD |
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|
|
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Branch Office : |
8, Vyronos & Gytheiou, 196905, Halandri, 196905, Attiki |
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Country : |
Greece |
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Date of Incorporation : |
21.03.2003 |
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Legal Form : |
Branch of a Foreign Company |
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Line of Business : |
The subject company is operating in:
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No. of Employees : |
75 (2015) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Branch of a Foreign Company |
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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 – 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 |
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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 reduced the deficit to about 4% in 2013, including government debt payments, but the deficit spiked to 12.7% of GDP in 2014. 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, faced 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, and 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 $60 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. Greece's lenders have continually called on Athens to step up efforts to increase tax collection, dismiss public servants, privatize public enterprises, and rein in health spending. Investor confidence, however, began to show signs of strengthening by the end of 2013, and the decline in GDP slowed to 3.9% that year, Greece’s best performance since 2009. Greece subsequently marked three significant milestones in 2014: balancing its 2013 budget—not including debt repayments; re-entering financial markets in April with the first issue of government debt since 2010; and posting its first quarter of positive growth since 2008. Buoyed by Greece’s success, Prime Minister Antonios SAMARAS in October announced plans to exit its bailout program early, provoking a plunge in the Greek stock and debt markets that pushed Greece back to the negotiating table with its creditors and ultimately resulted in an agreement to extend the EU portion of Greece’s bailout through February 2015.
|
Source
: CIA |
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Registered Name |
VERISFIELD (U.K.) LTD |
|
Trade Name |
VERISFIELD (U.K.) LTD |
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Registered Address |
41, Chalton Str, London, -, United Kingdom |
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Telephone |
+30 2107712041, +30 2107781704 |
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Fax |
+30 2107475197 |
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E-mail |
info@verisfield.gr |
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Web Site |
www.verisfield.gr |
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Status |
Registered and operational |
|
Legal Type |
Branch of a Foreign Company |
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VAT Number |
999636520 |
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Registration Date |
21/03/2003 |
|
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Start Date |
21/03/2003 |
Years of Operation |
|
Last return |
16/06/2015 |
|
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CINFO ID |
23399891 |
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Employees |
Jun 2015 |
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Total Number |
75 |
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Assessment: |
Normal Risk |
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Payment habits: |
Unknown |
Please note that no payment information is
available for the subject company. |
No capital information available
|
Directors |
Position |
ID |
Nationality |
|
Kon. Koutsodimos, Christos |
Director |
- |
Greece |
|
Dim. Motsios, George |
Director |
- |
Greece |
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Shareholders |
ID/Reg. No. |
Nationality |
Shares |
% |
|
No information available |
||||
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Activity Code |
Description |
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51.46 |
Wholesale of pharmaceutical goods |
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51.45 |
Wholesale of perfume and cosmetics |
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51.38 |
Wholesale of other food, including fish,
crustaceans and molluscs |
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24.42 |
Manufacture of pharmaceutical preparations |
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Line of business |
|
The subject
company is operating in: |
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Export to |
Payment terms |
Percentage |
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The subject company exports to Cyprus |
||
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Import from |
Payment terms |
Percentage |
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The subject company imports from Cyprus,
Switzerland |
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Banks |
Swift code |
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PIRAEUS BANK S.A. - IRODOTOU, KOLONAKI |
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|
Comment |
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BANK NUMBER: 0172031 |
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NATIONAL BANK OF GREECE S.A. - CHOLARGOS |
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|
Comment |
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BANK NUMBER: 0110099 |
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Premises |
Date Updated |
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Registered Office |
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41, Chalton Str, London, -, United Kingdom |
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Operates as: |
16/06/2015 |
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Office |
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Leased |
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8, Vyronos & Gytheiou, 196905, Halandri, 196905, Attiki |
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BUILDINGS m2: 270 |
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Affiliates and Subsidiaries |
Country |
Relation |
Date Reg. |
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ALFA OMEGA DRUGSTORE S.A. |
Greece |
Customer |
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Agencies and Suppliers |
Country |
Relation |
Date Reg. |
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GENETIC SpA |
Italy |
Supplier |
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||||
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IBSA FARMACEUTICI ITALIA SRL |
Italy |
Supplier |
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No |
Date Registered |
Date Prepared |
Type |
Description |
Amount |
Secondary amount |
Property |
Unit |
Beneficiary |
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No information available |
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Charges History
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No |
Date Registered |
Date Prepared |
Date End |
Type |
Description |
Amount |
Secondary amount |
Property |
Unit |
Beneficiary |
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No information available |
||||||||||
According to our against
the subject no negatives have been registered.
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.
GENERAL COMMENTS
CONCLUSION
G.E.MI.: 124199001001
Subject is a branch of the foreign firm VERISSFIELD (U.K.) LTD. Established in
2003 (Gov.Gaz.No.: 2313/03) as a branch in Greece of the foreign firm
VERISSFIELD (U.K.) LTD, which was established in 2000, in London. On 15/1/2010
(Gov. Gaz. No. 00254/2010) a change of subject`s head office was published. It
is noted that the above report is according to data available in our files.
Contact Information
|
No information
available |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.72.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
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Report Prepared
by : |
VNT |
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 |
-- |
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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.