MIRA
INFORM REPORT
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Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
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Correct Name : |
PENNEYS LIMITED |
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Registered Office : |
47 Mary Street, Dublin 1 |
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Country : |
Ireland |
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Date of Incorporation : |
11.04.1974 |
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Com. Reg. No.: |
53989 |
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Legal Form : |
Non Limit Entity |
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Line of Business : |
Department Store |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
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Address |
47 MARY STREET |
Status |
NORMAL |
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Town Code |
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Registered |
11/04/1974 |
Ceased |
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Business Type |
OTHER CORP |
Activities |
DEPARTMENT STORE |
Business Owner
Links
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Business Name |
Business No |
Business Status. |
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PENNEYS LIMITED |
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PRIMARK |
53989 |
NORMAL |
DIRECTORS/MANAGEMENT
Na
NEGATIVE INFORMATION
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Exact Active CJ's |
0 |
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Exact Value of CJ's (€) |
€0 |
Unregistered
Exact CJ details
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No Unregistered Exact CJ`s found |
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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. |
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No Unregistered Possible CJ`s found |
Registered
Exact CJ details
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No Registered Exact CJ`s found |
SHARE & SHARE CAPITAL
INFORMATION
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Registered Business Owner |
PENNEYS LIMITED |
Date Of Birth |
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Address |
47 MARY STREET |
Ownership Status |
PERSON |
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Owned From |
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Owned To |
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PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Na
FINANCIAL INFORMATION
Na
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Summary
Information
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61 |
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||||
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Rating |
61 |
Limit |
€1,000 |
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Exact Active CJ's |
0 |
Exact Value of CJ's |
€0 |
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Summary
Information
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61 |
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||||
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Rating |
61 |
Change Date |
15/10/2009 |
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Limit |
€1,000 |
Change Date |
15/10/2009 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
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UK Pound |
1 |
Rs.88.76 |
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Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.