Finance ministry announces five credit rating enterprises

Credit rating services analyse, assess and rate the ability to perform debt obligations of enterprises and organisations. — Photo vneconomy.vn

The five are the Sài Gòn Phát Thịnh Ratings Joint Stock Company, the FiinRatings Joint Stock Company (formerly FiinGroup Joint Stock Company), Việt Nam Investors Service and Credit Rating Agency Joint Stock Company, the S&I Ratings Joint Stock Company and the Thiên Minh Credit Rating Joint Stock Company.

These are the businesses that qualified for providing credit rating services, as promulgated in the Government’s Decree 88, issued on September 26, 2014.

The Thiên Minh Credit Rating Joint Stock Company is a new enterprise added to the list since August.

According to Decree 88, credit rating services are provided by credit rating companies to analyse, assess and rate the ability to fully and timely perform debt obligations of enterprises and organisations, or the ability of a debt issuer to fully and timely perform its debt obligations for the debt instrument at the time of rating.

Credit rating service providers must be certified by the Ministry of Finance as eligible to operate in this field. Enterprises that do not register for credit rating services are not allowed to use the term 'credit rating' or any other related terms with similar meanings in their names.