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Report No. : |
311651 |
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Report Date : |
18.03.2015 |
IDENTIFICATION DETAILS
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Correct Name : |
ANGELIDIS G &
CO EE |
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Formerly Known As : |
MILESTONE GROUP G. ANGELIDIS & CO O.E. |
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Registered Office : |
P O Box: 64200, Chryssoupoli |
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Country : |
Greece |
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Date of Incorporation : |
06.09.2011 |
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Com. Reg. No.: |
116256930000 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
· Subject is involved in Quarrying, Working and Trade of Marble. · Engaged in Trading Marble Cutting and Working Machinery Subject product ranges includes: · Marble · Marble slabs & tiles · Marble processing machinery · Slabs & tiles |
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No of Employees : |
04 (March 2015) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
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 |
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 |
Correct Registered Name ANGELIDIS
G & CO EE
Trade Name MILESTONE
GROUP
Registered Address PO
Box: 64200, Chryssoupoli, Greece
Telephone +30
2510834707, +30 2591041660
Fax +30
2510834707
E-mail c.angelidis@milestonegroup.gr
Web Site www.milestonegroup.gr
Status Registered
and operational
Legal Type Limited
Partnership (EE)
VAT Number 800325773
Registration No 116256930000
Registration Date 06/09/2011
Start Date 06/09/2011
Years of Operation 4
CINFO ID 23392006
Employees Mar
2015
Total Number 4
No capital information available
Other Relations Position
ID
Pol. Angelidis, George Administrator 030491380
Shareholders ID/Reg.
No. Nationality
Pol. Angelidis, George 030491380 Greece
99, Egnatias
Activity Code
Description
14110105 MARBLE,
DIMENSION-QUARRYING
50320402 MARBLE
BUILDING STONE
14.11 Quarrying
of ornamental and building stone
51.82 Wholesale
of mining, construction and civil engineering machinery
26.70 Cutting,
shaping and finishing of ornamental and building stone
[51.53] Wholesale
of wood, construction materials and sanitary equipment
The company is involved in quarrying, working and trade of marble.
Engaged in Trading marble cutting and working machinery
Sector: Quarries
& mines
PRODUCTS:
Marble
Marble slabs & tiles
Marble processing machinery
Slabs & tiles
Export to
China, Jordan, Malaysia, Libya
The company does not import.
Banks Swift
code
NATIONAL BANK OF GREECE S.A.
Greece 0110215
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.
CONCLUSION
Former Name: MILESTONE GROUP G. ANGELIDIS & CO O.E.
Company was established in 2011 having a legal seat at
Cryssoupoli Kavala and is mainly engaged in quarrying, working and trade of
marble. In 2014 subject`s legal name and form was changed from MILESTONE
GROUP G. AGGELIDIS & CO OE to the present one.
No further information is available regarding the shareholder`s and their equity.
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, publicly available sources and confirmed by the person interviewed.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.69 |
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UK Pound |
1 |
Rs.92.99 |
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Euro |
1 |
Rs.66.37 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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.