MIRA INFORM REPORT

Report No. :	348634
Report Date :	19.11.2015

IDENTIFICATION DETAILS

Name :	AHMED AYAD DRIS

Registered Office :	Avenida Reyes Católicos, 64 - Ceuta – Ceuta

Country :	Spain

Date of Incorporation :	Not Available

Legal Form :	Proprietorship / Self-Employed

Line of Business :	Non-specialized wholesale of food, beverages and tobacco

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Spain

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SPAIN - ECONOMIC OVERVIEW

After experiencing a prolonged recession in the wake of the global financial crisis that began in 2008, in 2014 Spain marked the first full year of positive economic growth in seven years, largely due to increased private consumption. At the onset of the global financial crisis Spain's GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. In 2013 the government successfully shored up struggling banks - exposed to the collapse of Spain's depressed real estate and construction sectors - and in January 2014 completed an EU-funded restructuring and recapitalization program.

Until 2014, credit contraction in the private sector, fiscal austerity, and high unemployment weighed on domestic consumption and investment. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, but labor reforms prompted a modest reduction to 23.7% in 2014. High unemployment strained Spain's public finances, as spending on social benefits increased while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2010, but Spain gradually reduced the deficit to just under 7% of GDP in 2013-14, slightly above the 6.5% target negotiated between Spain and the EU. Public debt has increased substantially – from 60.1% of GDP in 2010 to more than 97% in 2014.

Exports were resilient throughout the economic downturn and helped to bring Spain's current account into surplus in 2013 for the first time since 1986, where it remained in 2014. Rising labor productivity and an internal devaluation resulting from moderating labor costs and lower inflation have helped to improve foreign investor interest in the economy and positive FDI flows have been restored.

The government's efforts to implement labor, pension, health, tax, and education reforms - aimed at supporting investor sentiment - have become overshadowed by political activity in 2015 in anticipation of the national parliamentary elections in November. Spain’s 2015 budget, published in September 2014, rolls back some recently imposed taxes in advance of the elections and leaves untouched the country’s value-added tax (VAT) regime, which continues to generate significantly lower revenue than the EU average. Spain’s borrowing costs are dramatically lower since their peak in mid-2012, and despite the recent uptic in economic activity, inflation has dropped sharply, from 1.5% in 2013 to nearly flat in 2014.

Source : CIA

EXECUTIVE SUMMARY

Name

AHMED AYAD DRIS

NIF / Fiscal code:

45082380B

Legal form:

Proprietorship / Self-employed

Location:

Avenida Reyes Católicos, 64 - Ceuta - Ceuta

Telephone:

956502243

Activity:

NACE:

4639 - Non-specialised wholesale of food, beverages and tobacco

Size:

Small

Import / export:

Import: Yes, Export: No

Legal Claims:

Business trend:

Stable

Prospects:

Business Consolidation

Industry situation:

Maturity

Unit:

Euros

Guarantees:

INVESTIGATION SUMMARY

After all the regular managements in regard of the subject, the owner has refused to provide information. \par We have been able to prove that the business has been running for several years, engaged in the importation and wholesale trade of alimentary products. \par It imports mainly from Turkey and India. \par The registered office and warehouse are located in the address indicated, concretely in the owner’s home address. \par He figures as Vice-president of HAYAD TRADES COMPANY SA in Ceuta, a company that must be inactive as it has no accounts registered since 2000. \par We have tried to contact with several bank entities in the nearby and he does not figures as a client. \par At this point, in light of the circumstances and considering the refusal to provide information, we conclude our managements.

Enquiry Details

NIF / Fiscal code

00000000T

Name

DRIS AHMED AYAD

Address

AV REYES CATOLICOS 64 CEUTA 51002

City

CEUTA

Province

CEUTA

Postcode

00000

Telephone

000000000

IDENTIFICATION

Company name / Name of the subject

AHMED AYAD DRIS

Legal form

Proprietorship / Self-employed

NIF / Fiscal code

45082380B

Name of the maximum responsible

AHMED AYAD DRIS

Position of the maximum responsible

Propietario

Professional address

Avenida Reyes Católicos, 64

City

Ceuta

Province

Ceuta

Postcode

51002

Telephone

956502243

ACTIVITY

NACE

4639

Description of the NACE code

Non-specialised wholesale of food, beverages and tobacco

Business size

Small

Import

Yes

Export

Industry situation

Maturity

Business trend

Stable

Prospects

Business Consolidation

Banks

Despite the investigations carried out, it was not possible to determine the banks with which the subject deals.

FINANCIAL DATA (Estimation) Data in: Euros

ASSETS			LIABILITIES
Tangible fixed assets			Capital
Transport			Long term creditors
Machinery and fittings			Long term debts with Banks
Buildings and constructions			Short term creditors
Intangible fixed assets			Short term debts with credit entities
Stock
Debtors
Cash
TOTAL ASSETS			TOTAL LIABILITIES
WORKING CAPITAL

SALES EVOLUTION
	Financial Year
	Financial Year
	Financial Year

INVESTIGATION SUMMARY

CONSULTED SOURCES

Investigation, Board of Administration (according to registry), Public institution, Chamber of Commerce, Internal/external DB,

INTERVIEWED PERSON

Fuentes Ajenas

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.11
UK Pound	1	Rs.100.51
Euro	1	Rs.70.39

INFORMATION DETAILS

Analysis Done by :	KAS

Report Prepared by :	TPT

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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