MIRA INFORM REPORT

Report No. :	350633
Report Date :	27.11.2015

IDENTIFICATION DETAILS

Name :	SHEPHERD LAGADIANOS PARRY IATRIDIS LAW OFFICE

Registered Office :	47-49 Akti Miaouli, Livanos Building, 18536 Attica, Piraeus

Country :	Greece

Date of Incorporation :	02.08.2011

Com. Reg. No.:	998025390

Legal Form :	Civil Professional Organization of Attorneys

Line of Business :	The subject company is involved with legal activities. Note : [We tried to confirm / obtain the detailed activity but the same is not available from any sources]

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Greece

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 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 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. The Greek economy posted an annual economic growth rate of 0.8 percent in 2014, the first year of positive growth since 2008. However, widespread discontent with austerity measures resulted in a victory for the anti-austerity SYRIZA in the January 2015 parliamentary elections. In February, Greece reached a tentative agreement with its creditors that would provide emergency liquidity to Greece in exchange for significant economic reforms. Uncertainty regarding Greece’s future in the Eurozone has dampened investor confidence and lowered growth projections for 2015.

Source : CIA

Basic Information

Registered Name	SHEPHERD LAGADIANOS PARRY IATRIDIS LAW OFFICE
Trade Name	INCE AND CO
Registered Address	47-49 Akti Miaouli, Livanos Building, 18536 Attica, Piraeus, Greece
Telephone	+30 2104292543
Fax	+30 2104293318
E-mail	2156@incelaw.com
Web Site	www.incelaw.com
Status	Registered and operational
Legal Type	Civil Professional Organization of Attorneys

Registration No	998025390	Registration Date	02/08/2011
Start Date	02/08/2011	Years of Operation	4

CR number	998025390


CINFO ID	23411926

Payment

Assessment:

Low Risk

Corporate Structure

Other Relations	Position	ID	Nationality	Appointed

Mr Shepherd, Nick Pet	Administrator	074209989 (Reg. No)	Unknown


Mr Ramantanis - Iatridis, George Nik.	Administrator	032323342 (Reg. No)	Greece

Shareholders	ID/Reg. No.	Nationality	Shares	%

Mr Katsampas, Evangelos-Konst	(Reg. No.)	Greece	0	0


Khan, Jamila	(Reg. No.)	Unknown	0	0


Mr Parry, Robin-LLoyd	062422484 (Reg. No.)	Unknown	0	0


Mr Lagkadianos, Antonios	043942054 (Reg. No.)	Greece	0	0


Mr Shepherd, Nick Pet	074209989 (Reg. No.)	Unknown	0	0


Mr Ramantanis - Iatridis, George Nik.	032323342 (Reg. No.)	Greece	0	0

Operation

Activity Code	Description
74.11	Legal activities

Line of business

The subject company is involved with legal activities.

Negatives

According to our against the subject no negatives have been registered.

Financial information

No financial information available

Additional Information

GENERAL COMMENTS

CONCLUSION

Former Names
ELVEY SHEPHERD LAGADIANOS PARRY IATRIDIS LAW OFFICE (01/01/2015)

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

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.55
UK Pound	1	Rs.100.64
Euro	1	Rs.70.70
Euro	1	Rs.70.74

INFORMATION DETAILS

Analysis Done by :	TRI

Report Prepared by :	TRU

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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