3-Year Journey of FiinRatings as a Vietnam Licensed Credit Rating Agency (20/3/2020 – 20/3/2023)
On March 20, 2023, FiinRatings, a member of FiinGroup, commemorates 3-year journey since licensing approval. FiinRatings is the Credit Rating Agency (“CRA”) licensed by the Ministry of Finance in Vietnam under Decree 88/2014/ND-CP dated 26 September 2014 governing Credit Rating Agency services
On March 20, 2023, FiinRatings, a member of FiinGroup, commemorates 3-year journey since licensing approval. FiinRatings is the Credit Rating Agency (“CRA”) licensed by the Ministry of Finance in Vietnam under Decree 88/2014/ND-CP dated 26 September 2014 governing Credit Rating Agency services. Inheriting the analytical capacity and experience over the past 15 years of FiinGroup by accompanying the Vietnamese market, and the technical support from the world's leading credit rating agency - S&P Global Ratings, FiinRatings commits to providing independent, in-depth, and comprehensive assessments which benefit both Issuers and Investors.
In this 3-year journey, with continuous efforts, FiinRatings has gained the initial achievements in developing a rating culture for a sustainable capital market for Vietnam.
1) 18 issuers rated for the first time under the domestic rating scale in a number of sectors including real estate, renewable energy, financial institutions, securities brokerages, etc. with 20+ rating actions released for these issuers including initial ratings, surveillance reports, and credit watch.
2) 40+ Credit Assessment Reports delivered for Investors and Creditors for unrated issuers supporting their decisions in debt instruments in Vietnamese enterprises.
3) 25+ publications issued and 35+ investor communication events giving an unbiased view of Vietnam Capital Markets in various forms including Sector Credit Insights, Quarterly Bond Reports, Monthly Bulletins, and Market Commentaries.
4) Rating outcomes have been applied by a number of financial institutions in their calculation of the Probability of Default (PD) and Loss Given Default (LGD) as part of their risk management practice and interest rate pricing.
5) Expanded human resources from 10 initial staff to 30+ headcount including 3 international experts and 20+ local credit analysts; and established Technical Collaboration Partnership with S&P Global Ratings since May 2021.
FiinRatings would like to send a great attitude to the regulators, partners, issuers, and investors for your continuing support and strong encouragement in our journey. We commit to continuously improving our analytical capability to work with issuers, investors, and stakeholders toward the sustainable development of the Vietnamese capital market.
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