The French authorities submit that the financial projections for # to # give an average capital/debt ratio of # % with capital to reach EUR # million in
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Indeed, with regard to the approach adopted by the French authorities, namely, an approach based on the capital/debt ratio, the Commission believes that
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Indeed, with regard to the approach adopted by the French authorities, namely, an approach based on the capital/debt ratio, the Commission believes that:
First of all, they confirm that a 0,79 capital/debt ratio is quite typical for the balance sheets of most shipping companies, except in special situations.
This last method consists of calculating the financing requirement on the basis of the average capital/debt ratio recorded in 2000 for five European shipping companies.
The Commission points out that by adding or removing certain companies from the panel chosen by the French authorities, the average capital/debt ratio may vary significantly.
The Commission points out that by adding or removing certain companies from the panel chosen by the French authorities, the average capital/debt ratio may vary significantly
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(213) First of all, they confirm that a 0,79 capital/debt ratio is quite typical for the balance sheets of most shipping companies, except in special situations.
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(128) This last method consists of calculating the financing requirement on the basis of the average capital/debt ratio recorded in 2000 for five European shipping companies.
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The French authorities submit that the financial projections for 2002 to 2007 give an average capital/debt ratio of 77 % with capital to reach EUR 169 million in 2007.
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The Commission wishes to point out that by adding or removing certain companies from the panel chosen by the French authorities, the average capital/debt ratio may vary significantly.
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The French authorities submit that the financial projections for 2002 to 2007 give an average capital/debt ratio of 77 %, with capital to reach EUR 169 million in 2007.
Corsica Ferries considers the 79 % capital/debt ratio adopted by the French authorities(54) as exaggerated in relation to the ratios which it recorded itself on a panel of 10 shipping companies.
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Corsica Ferries considers the 79 % capital/debt ratio adopted by the French authorities ( 54 ) as exaggerated in relation to the ratios which it recorded itself on a panel of 10 shipping companies.
the French authorities have not shown that the # % capital/debt ratio emerging from that panel of companies is properly taken into account for the period #-# in the financial model included in the restructuring plan
With regard to determining the amount of aid, the French authorities confirm that an own capital/debt ratio of 0,79 is quite typical for the balance sheets of most shipping companies, except in special situations.
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In respect of the determination of the amount of the aid, the French authorities confirm that a #,# capital/debt ratio is quite typical for the balance sheets of most shipping companies, except in special situations
The method chosen by the French authorities to determine the amount of the recapitalisation involves calculating the need for financing on the basis of the average capital/debt ratio of # European shipping companies recorded in
Se aplicará a partir del # de septiembre deoj4 oj4
In their letter of 3 July 2002, the French authorities added two new firms to the panel of shipping companies, as a result of which the average capital/debt ratio was 83 % instead of 79 %.