Vietnam has first credit rating company

Monday, Jul 31, 2017 15:42

Standard & Poor’s headquarters in the financial district of New York. The new Sài Gòn Phát Thịnh Joint Stock Company in Viet Nam is now qualified to perform credit rating tasks normally done by S&P. – Photo finanzalive.com

The Sai Gon Phat Thinh Joint Stock Company has been licensed by the Ministry of Finance to provide credit rating services, the first of its kind in Viet Nam.

Credit rating is common in many countries around the world, aiming to supply transparent information for investors and businesspeople.

It is meant to support the stock and bond markets, improve transparency, promote capital mobilisation via the stock market and protect investors’ rights.

Vietnamese enterprises usually have their credit rated by global credit rating agencies such as Standard & Poor’s and Moody’s Investors Service. – VNS

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