MIRA
INFORM REPORT
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Name :
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FURNISHING DISTRIBUTORS LIMITED
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Formerly Known as:
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BOYLE INTERIOR MARKETING LIMITED
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Registered Office :
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1 Whitethorn Brae Dromara
Dromore BT25 2DH
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Country :
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Ireland
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Financials (as on) :
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31.12.2012
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Date of Incorporation :
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28.10.1991
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Com. Reg. No.:
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NI026035
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Legal Form :
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Private limited with Share Capital
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Line of Business :
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·
Retail Sale
of Carpets, Rugs, Wall and Floor Coverings in Specialised Stores
·
Wholesale distribution textiles.
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No. of Employees :
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Not Available
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RATING
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STATUS
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PROPOSED CREDIT LINE
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11-25
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Ca
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Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity
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Limited with
full security
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Status :
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Moderate
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Payment Behaviour :
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Slow
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Litigation :
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Clear
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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, 31st, 2013
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Country Name
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Previous Rating
(31.12.2012)
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Current Rating
(31.03.2013)
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Ireland
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B1
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B1
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Risk Category
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ECGC Classification
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Insignificant
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A1
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Low
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A2
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Moderate
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B1
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High
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B2
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Very High
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C1
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Restricted
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C2
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Off-credit
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D
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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 former 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 new KENNY
government has intensified austerity measures to try to meet the deficit
targets under Ireland's
EU-IMF program. Ireland
achieved moderate growth of 1.4% in 2011 and cut the budget deficit to 9.1% of
GDP. Although the recove