The global rating agency said Tuesday it will no longer provide ranking results for Vingroup. Vingroup representatives confirmed the above information to VnExpress, saying the group had "actively withdrawn" from Fitch’s programme. They did not elaborate. Corporation credit rating is a service provided by esteemed financial organizations such as Fitch, Moody’s, or Standard & Poor’s at the request of businesses. The credit rating results are often an important requirement when businesses want to raise capital in the international market. Together with Standard & Poor's and Moody's, Fitch Ratings is one of the three most prestigious credit rating organizations in the world today. Fitch first assessed Vingroup’s creditworthiness in November 2012, giving it a "B+"Default Rating for both foreign and local-currency debt issuer categories, as well as a "stable" outlook. Vingroup maintained its B+ rating consistently until its latest credit assessment. However, … [Read more...] about Vingroup stops participating in Fitch credit rating program
Dbrs credit rating scale
Standard & Poor’s upgrades BIDV’s credit ratings
A BIDV branch in Hà Nội. BIDV’s long-term issuer credit rating has been improved by one notch to BB- by Standard & Poor’s. — Photo bidv.com.vn HÀ NỘI — Global ratings agency Standard & Poor’s has upgraded the long-term issuer credit rating of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) by one notch from B+ to BB- and kept the outlook “stable”. It said the rating action follows its upgrade of Việt Nam's sovereign credit rating to 'BB/B' from 'BB-/B', reflecting BIDV's high systemic importance to the country’s banking system. BIDV is the largest bank by total assets in Việt Nam with a dominant market share of 14 per cent of loans and 13 per cent of deposits. It enjoys a high degree of customer confidence due to its size, long operating history, and government ownership. Its management has recognised the need for capital conservation … [Read more...] about Standard & Poor’s upgrades BIDV’s credit ratings
S&P raises Vietnam’s credit rating with stable outlook
Tra fish processed for export at Cuu Long An Giang Seafood Import - Export Company in An Giang Province. (Photo: VNA) Hanoi (VNS/VNA) - Standard and Poor’s (S&P) Global Ratings’ recent upgrade of its long-term sovereign credit rating for Vietnam, the first time since 2010, was expected to help the country to attract more foreign investments into the economy and expand exports. Late last week, S&P raised its long-term sovereign credit rating for Vietnam to “BB” from “BB-”. “The stable outlook reflects out expectation that Vietnam’s economy will continue to expand rapidly, exemplifying gradual improvements in its policy-making setting and underpinning credit metrics,” S&P wrote in a press release. This was the first upgrade since December 2010. The upgrade reflected continued improvements in the Government’s institutional settings, which S&P believed were supporting consistently strong economic … [Read more...] about S&P raises Vietnam’s credit rating with stable outlook
S&P raises VN’s credit rating with a stable outlook
Tra fish processed for export at Cửu Long An Giang Seafood Import - Export Company in An Giang Province. S&P gave a stable outlook on Việt Nam, reflecting expectation that the economy would continue to expand rapidly. — VNA/VNS Photo Vũ Sinh HÀ NỘI Standard and Poors (S&P) Global Ratings’ recent upgrade of its long-term sovereign credit rating for Việt Nam, the first time since 2010, was expected to help the country to attract more foreign investments into the economy and expand exports. Late last week, S&P raised its long-term sovereign credit rating for Việt Nam to “BB” from “BB-”. “The stable outlook reflects out expectation that Việt Nam’s economy will continue to expand rapidly, exemplifying gradual improvements in its policy-making setting and underpinning credit metrics,” S&P wrote in a press release. This was the first upgrade … [Read more...] about S&P raises VN’s credit rating with a stable outlook
FE Credit announces result of Moody’s credit rating
FE Credit announces result of Moody's credit rating Moody's has officially announced the corporate credit rating (CFR - Credit rating is based on correlation with members of the same group) of B2 at VPBank Finance Company for FE Credit. This rating level is equivalent to the rating level of several leading domestic and foreign financial institutions in Vietnam. The rating CFR at level B2 for FE Credit showed that Moody's had stated the impact of parent bank on FE Credit, which is wholly-owned by VP Bank. FE Credit has been playing an important role in VP Bank's retail strategy and the financial link between FE Credit and VPBank. In 2017, FE Credit contributed around 50% of VP Bank's net income and continued leading the consumer finance market in Vietnam with a market share of nearly 50%. Beside Moody’s expectation on FE Credit to maintain its stable credit fundamentals over the next 12-18 months, the credit rating agency also evaluated that the profitability is a key strength … [Read more...] about FE Credit announces result of Moody’s credit rating
EVN gains Fitch’s positive credit rating for first time
Illustrative photo (Source: VNA) Hanoi (VNA) – Fitch Ratings (Fitch) gave the Electricity of Vietnam (EVN) a Long-Term Foreign-Currency Issuer Default Rating (IDR) of “BB” with a stable outlook. EVN is the first government-linked non-financial corporate rated by Fitch in Vietnam. The rating aligns with Vietnam’s sovereign rating. The Group is now one step closer to issuing bonds and strengthening its financing capacity, following the Fitch’s rating. According to EVN Vice President Dinh Quang Tri, the positive rating enables EVN to issue international bonds, diversify financing sources and reassure domestic and foreign institutional investors. “This positive rating enables EVN to issue international bonds, diversify our financing sources, and reassure domestic and foreign institutional investors. We are now on a stronger footing to deliver more reliable electricity to Vietnam,” said Dinh Quang Tri, Vice President of EVN. He noted … [Read more...] about EVN gains Fitch’s positive credit rating for first time
Home Credit gets Moody’s B3 credit rating
Moody’s Investors Service has assigned a B3, or stable, credit rating to Home Credit Vietnam Finance Company Limited, making it the first consumer finance company in Vietnam to get the rating, matching that of some banks despite its high-risk business model. Home Credit has received a B3 credit rating from Moody’s, the first consumer credit company in Vietnam to achieve it - Photo: VNA According to Moody’s, a further upward rating is possible if the company improves its funding and liquidity while maintaining stable asset quality and capital. The rating reflects Moody's expectation that Home Credit Vietnam will maintain stable credit fundamentals over the next 12-18 months. Home Credit also got a B3 rating for its credit profile, reflecting its exposure to the high credit risk inherent in Vietnam's rapidly growing unsecured consumer finance market. Moreover, its funding and liquidity are vulnerable to disruptions in case of market and/or credit shocks. But … [Read more...] about Home Credit gets Moody’s B3 credit rating
Home Credit gets B3 credit rating from Moody’s, matches banks
Home Credit has received a B3 credit rating from Moody’s, the first consumer credit company in Việt Nam to achieve it. — VNS Photo Moody’s Investors Service has assigned a B3, or stable, credit rating to Home Credit Vietnam Finance Company Limited. It is the first consumer finance company in Viet Nam to get the rating, matching that of some banks despite its high-risk business model. According to Moody’s, a further upward rating is possible if the company improves its funding and liquidity while maintaining stable asset quality and capital. The rating reflects Moody's expectation that Home Credit Vietnam will maintain stable credit fundamentals over the next 12-18 months. Home Credit also got a B3 rating for its credit profile, reflecting its exposure to the high credit risk inherent in Việt Nam's rapidly growing unsecured consumer finance market. Moreover, its funding and liquidity are vulnerable to disruptions in case of market and/or credit … [Read more...] about Home Credit gets B3 credit rating from Moody’s, matches banks
Moody elevates Indonesia credit rating
A view of Jakarta's skyline. (Photo: AFP/BAY ISMOYO) Hanoi (VNA) - Moody’s Investors Service upgraded its credit rating for Indonesia on April 13, praising the country’s central bank and government policies for boosting confidence in the largest economy of Southeast Asia. Indonesia's efforts in keeping budget deficit and inflation under control led to Moody's boosting its rating to Baa2 from Baa3 with a stable outlook. A better credit rating tends to lower a country's borrowing costs and can make it more attractive to investors. In December last year, Fitch Ratings increased Indonesia's sovereign rating, with Standard & Poor's previously raising Indonesia's credit rating from junk status to investment grade. Indonesia’s economy grew by 5.1 percent in 2017, up from the 2016’s figure of 5 percent, still well below President Joko Widodo's target of 7 percent.-VNA … [Read more...] about Moody elevates Indonesia credit rating
Moody’s upgrades VPBank’s credit rating for second year
Global credit rating firm Moody’s Investors Services has upgraded Vietnam Prosperity Bank (VPBank)’s baseline credit assessment from B3 to B2, and its counterparty risk assessment from B2 to B1. In addition, Moody’s kept VPBank’s rating on long-term foreign-currency deposit unchanged at B2, while raising its outlook from ‘stable’ to ‘positive’. This was the second consecutive year Moody’s has assigned a positive assessment for VPBank’s ratings. The baseline credit assessment reflects the bank’s sound credit profile, as well as its probability of a bank’s standalone failure, absent external support. This rating is based upon macroeconomic, financial and asset quality factors. The counterparty risk assessment evaluates the risk of a partner engaging with that bank. The Moody’s upgrade took into consideration VPBank’s significant improvement in financial strength, operating efficiency, profitability, as … [Read more...] about Moody’s upgrades VPBank’s credit rating for second year