Vietnam credit rating: Which 5 businesses are qualified to provide services?

The Ministry of Finance has just announced the list of enterprises granted Certificates of eligibility to provide credit rating services in Vietnam.

First, Saigon Phat Thinh Rating Joint Stock Company (Saigon Ratings), headquartered at 78-80 Le Van Thiem, Phu My Hung Quarter, Tan Phong Ward, District 7, Ho Chi Minh City.

Second, FiinRatings Joint Stock Company (FiinRatings). Head office address: 10th Floor, Peakview Tower Building, 36 Hoang Cau, O Cho Dua Ward, Dong Da District, Hanoi.

Third, Vietnam Investment Credit Rating Joint Stock Company (VIS Rating). Head office address: Room 2709, 27th Floor - West Tower, Lotte Center Hanoi Building, 54 Lieu Giai, Cong Vi Ward, Ba Dinh District, Hanoi.

Fourth, S&I Credit Rating Joint Stock Company (S&I Ratings). Head office address: No. 1C Ngo Quyen, Ly Thai To Ward, Hoan Kiem District, Hanoi.

Fifth, Thien Minh Rating Joint Stock Company. Head office address: 15th floor, HAREC building, 4 Lang Ha, Thanh Cong ward, Ba Dinh district, Hanoi city, Vietnam.

According to the provisions of Decree No. 88/2014/ND-CP, enterprises providing credit rating services must be granted a Certificate of eligibility to conduct credit rating services by the Ministry of Finance. Enterprises that are not registered to conduct credit rating services are not allowed to use the phrase "credit rating" or other phrases with the connotation of "credit rating" in their names.

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Previously, at the workshop “Developing the Vietnamese bond market to 2030”, experts said that in order to develop the corporate bond market, along with perfecting mechanisms and policies related to the control and development of the bond market, credit rating activities play an important role.

Assessing the role of credit rating for the more sustainable development of the corporate bond market, Mr. Nguyen Manh Ha, Deputy Head of the Research and Coordination Department of Supervision Policy, National Financial Supervision Commission, said that credit rating is objective and important information for customers before deciding to invest in corporate bonds.

According to Mr. Ha, for individual investors, credit rating is a common standard, helping them have a basis to compare tools, thereby making decisions on products to invest in. In addition, in the process of monitoring bond products, regularly updated credit rating results are important information for customers to effectively manage risks.

"For issuing enterprises, credit ratings are also important, good results give enterprises more advantages in mobilizing capital at lower costs, opening up many opportunities to attract capital sources at lower costs," - Mr. Ha said.

(According to markettimes)

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