FiinRatings Monthly Newsletter – May 2023

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

 

Key points from FiinRatings Monthly Newsletter – May 2023:

HIGHLIGHTS

The event "Vietnam Credit Markets: Corporate Bond Default and Possible Spillover Effects" organized at 2:00 PM - 4:00 PM (Vietnam Time), Tuesday 25th April 2023 (language: English only) provided the most up-to-date information and market insights, with independent perspectives from domestic credit rating agency. Revisit our webinar and download our presentation deck HERE.

Foreign investment flows into Vietnam, including direct and indirect investment, have the sight of a slowdown. Recent policy changes are expected to be solutions to many industry bottlenecks and promote the sustainable development of Vietnam’s capital market. In an interview on Vietnam Economic Times on May 11 2023, Mr. Nguyen Quang Thuan, FiinRatings's CEO shared his in-depth insights on how foreign investors evaluate the macro situation, investment environment as well as capital market prospects in Vietnam after joining a meeting with foreign investors in Singapore at the end of April. Details of the interview can be found HERE.

MARKET UPDATES

After the exciting March 2023, the corporate bond market in April only recorded one private placement bond issuance with a value of VND 671 billion of a real estate developer, resulting in the issue size of the month only equivalent to 2.5% over the previous month and 2.25% YoY. The value of early redeemed bonds in April reached nearly VND 11.3 trillion, down 41.61% from the previous month and 10% compared to the same period in 2022. The banking sector is the main contributor to the early redemption activity of the month, accounting for 61% of the total value of redeemed bonds. FiinRatings provided impact assessments on forbearance policies (Circular 02) and guidance allowing credit institutions to repurchase corporate bonds with certain conditions (Circular 03). View more detail HERE.

LATEST RATING ACTIONS

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