AVERAGE SOLVENCY ASSESSMENT SIGNIFICANTLY WEAKER IN JULY

ZAGREB, Aug 2 (Hina) - Solvency of reviewed Croatian companies in July has been estimated significantly weaker than the month before. A decrease has been registered by 18.8699 points, so the average solvency of all reviewed companies for July amounts to 439.065 points, Zagreb-based company Intercredit, said Monday. The company researches company standings and the payment of company debts in Croatia and abroad. The decrease in solvency, the company reported, gives rise for concern, primarily because marks of less than 440 points have been registered in last month's last two weeks. Not one category received a satisfactory assessment, while companies in joint ownership received the worst estimates, 500.274 points. Numerous companies, Intercredit reports, are complaining about problems with liquidity, saying the main reason for the freezing of their accounts at the Bureau for Payment Transactions was unpaid taxes and pension and social insurance payments. As regards out-of-court payment of debts in July, which is one of Intercredit's main activities, the situation has not changed significantly. It continues to be difficult, both from the aspect of the amount of registered and received debts and the difficult and complicated collection of debts. It has been noted that more and more foreign companies were turning to Intercredit to initiate payment proceedings, even against their own representation offices, despite special agreements and arrangements. (hina) lml