MIRA INFORM REPORT

 

 

Report Date :

03.11.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

PENNEYS LIMITED 

 

 

Registered Office :

47 Mary Street, Dublin 1

 

 

Country :

Ireland

 

 

Date of Incorporation :

11.04.1974

 

 

Com. Reg. No.:

53989

 

 

Legal Form :

Non Limit Entity

 

 

Line of Business :

Department Store

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Ireland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Ireland - ECONOMIC OVERVIEW

 

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis, with GDP falling by over 3% in 2008, nearly 7% in 2009, and less than 1% in 2010. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property and construction markets. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become a key component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the banking sector. In late 2010, the former COWEN Government agreed to a $112 billion loan package from the EU and IMF to help Dublin further increase the capitalization of its banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland achieved moderate growth in 2011 and cut the budget deficit to 10.1% of GDP, although the recovery is expected to slow in 2012 as a result of the euro-zone debt crisis.

 

 

Source : CIA

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Address

47 MARY STREET
DUBLIN 1

Status

NORMAL

Town Code

 

 

 

Registered

11/04/1974

Ceased

 

Business Type

OTHER CORP

Activities

DEPARTMENT STORE

 

Business Owner Links

 

Business Name

Business No

Business Status.

PENNEYS LIMITED

 

 

 

  PRIMARK

53989

NORMAL

 

 

DIRECTORS/MANAGEMENT

 

Na

 

 

NEGATIVE INFORMATION

 

Exact Active CJ's

0

Exact Value of CJ's (€)

€0

Possible Active CJ's

0

Possible Value of CJ's (€)

€0

 

Unregistered

 

Exact CJ details

No Unregistered Exact CJ`s found

Possible CJ deatils

Possible CJ matches show CJs that may be matched to a company based on various criteria such as similar trading names or addresses. This data is provided for your information only as an aid to decision-making and does not affect a company’s rating.

 

No Unregistered Possible CJ`s found

 

Registered

Exact CJ details

No Registered Exact CJ`s found

 

SHARE & SHARE CAPITAL INFORMATION

 

Registered Business Owner

PENNEYS LIMITED

Date Of Birth

 

Address

47 MARY STREET
DUBLIN 1

Ownership Status

PERSON

Owned From

 

Owned To

 

 

 

PAYMENT INFORMATION

 

Na

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Na

 

 

FINANCIAL INFORMATION

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Summary Information

61

 

Rating

61

Limit

€1,000

 

Exact Active CJ's

0

Exact Value of CJ's

€0

 

 

Summary Information

61

 

Rating

61

Change Date

15/10/2009

 

Limit

€1,000

Change Date

15/10/2009

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.66

UK Pound

1

Rs.86.37

Euro

1

Rs.69.24

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.