S&P Global Ratings and Asian Development Bank Launch Capacity Building Project for FiinRatings

[Hanoi, November 4, 2024] FiinRatings is excited to announce the launch of its Capacity Building Project in collaboration with S&P Global Ratings (SPGR). This initiative is a critical component under a technical assistance project of the Asian Development Bank (ADB), TA6734-VIE: Public–Private Partnerships, Private Sector Development, and State-Owned Enterprise Reform, which was approved by the Government of Vietnam on 6 April 2022 and is funded by the Government of Australia.

[Hanoi, November 4, 2024] FiinRatings is excited to announce the launch of its Capacity Building Project in collaboration with S&P Global Ratings (SPGR). This initiative is a critical component under a technical assistance project of the Asian Development Bank (ADB), TA6734-VIE: Public–Private Partnerships, Private Sector Development, and State-Owned Enterprise Reform, which was approved by the Government of Vietnam on 6 April 2022 and is funded by the Government of Australia. 

The program focuses on support for FiinRatings in three key areas: strengthening analytical capabilities in financial institutions ratings; strengthening analytical capabilities in corporate sector ratings; and providing our support on implementing international compliance best practices. As part of this strategic initiative, S&P Global Ratings will deploy specialists to participate in the capacity building project onsite at FiinRatings from 21 October 2024 to 30 April 2025. 

This initiative builds on the existing technical collaboration relationship first established between FiinRatings and S&P Global Ratings in May 2021. Since this time, S&P Global Ratings has provided FiinRatings with technical training for its credit rating business operations. 

Building upon their existing relationship, FiinRatings and S&P Global Ratings first established a technical collaboration partnership since May 2021, during which FiinRatings received technical training for its credit rating business operations.  

“The implementation of the technical assistance program marks a significant milestone in our development. It will not only enhance FiinRatings’ professional expertise and operations capabilities but also position us to better serve the needs of issuers, investors, and other market participants. Through this initiative, we anticipate making a greater impact on the sustainable development of the capital market in general and the Vietnamese bond market in particular.” said Mr. Nguyen Quang Thuan, CEO of FiinRatings. 

“S&P Global Ratings is proud to be collaborating with FiinRatings to promote rigorous, objective, and relevant credit ratings in Vietnam. We are excited about our role in the development of Vietnam’s bond market to support its strong economic growth by sharing robust analytical capabilities to further strengthen the credit rating standards in Vietnam.” said Ritesh Maheshwari, Managing Director and Head of Southeast Asia of S&P Global Ratings. 

“This capacity-building program for FiinRatings is a definitive testament to ADB's unwavering commitment to advancing Viet Nam’s local credit rating market. We are pleased to work with FiinRatings to foster the development of well-functioning and robust capital markets in the country.” said Maria João Pateguana, Unit Head, Private Sector Development, ADB. 

About FiinRatings  

FiinRatings Joint Stock Company, a member of FiinGroup and a technical collaboration partner with S&P Global Ratings, is a licensed credit rating agency in Vietnam. FiinRatings provides credit ratings and related services to issuers, creditors, and investors in the Vietnamese credit market. The company has also established itself as a leader in sustainable finance, offering green bond verification and Second Party Opinion (SPO) assessments, serving clients across various industries. Notably, FiinRatings is the first agency in Vietnam to be approved as a verifier under the Climate Bonds Initiative’s green bond taxonomy. 

About S&P Global Ratings 

S&P Global Ratings, a division of S&P Global Inc. (NYSE: SPGI), is the world's leading provider of independent credit risk research. We have approximately 1.2 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. With nearly 1,400 credit analysts in 26 countries, and more than 150 years' experience of assessing credit risk, we offer a unique combination of global coverage and local insight. Our research and opinions about relative credit risk provide market participants with information that helps to support the growth of transparent, liquid debt markets worldwide. 

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