FiinRatings Monthly Newsletter – March 2023

FiinRatings would like to send you the FiinRatings Monthly Newsletter – March 2023, with the most noteworthy updates on credit rating scale, in-depth analysis reports, and independent commentaries from our experts

 

Key points from FiinRatings Monthly Newsletter – March 2023:

HIGHLIGHTS

On February 23, 2023, FiinRatings and the Global Green Growth Institute (GGGI) made an official announcement regarding their Partnership Agreement, aimed at promoting green bonds and sustainable finance in Vietnam. This agreement strengthens the relationship and commitment between the two organizations and marks a significant milestone in the development of the green bonds and credits market. Moreover, it will contribute to the sustainable growth of Vietnam's economy and the achievement of the country's national development objectives. For more information about this Partnership Agreement, please click on the following link HERE.

On March 7, 2023, Mr. Nguyen Quang Thuan, the Chairman of FiinGroup and CEO of FiinRatings, delivered a speech to attendees from international organizations, financial institutions, and Vietnamese enterprises at the Executive Dialogue Event, which was organized by Private Infrastructure Development Group (“PIDG”) and Guarantco. You can access speaking slides by FiinGroup’s representative HERE.

MARKET UPDATES

In February, the corporate bond market saw three successful issuances worth a total of 2,000 billion VND. This included one private placement from Son Kim Land Corporation, which raised 500 billion VND with a nominal interest rate of 13.5% per annum for a two-year term, as well as two public offerings from Massan Group worth 1,500 billion VND with a fixed interest rate of 9.5% for the first two periods.

While the private issuance value in February decreased by about 17.4% compared to the previous month, the total issuance value showed a significant increase. FiinRatings anticipates that this positive trend may continue in the future, particularly after the issuance of Decree No. 08/2023/ND-CP by the government.

Refer to our FULL report HERE.

LATEST RATING ACTIONS

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