Credit Rating Results

Publication Date	Issuing Organization	Industry	Status Rating	Opinion Type	Rating	Outlook	Bond Code	Rating Report

Long-term Credit Rating

Opinion on the relative level of creditworthiness of an issuer or a debt instrument with an original tenor of one year or above in Vietnam.

Group	Score	Definition and explanation
Investment grade	AAA	Group 1: Extremely strong capacity to meet financial obligation.
	AA+	Group 2: Very strong capacity to meet financial obligation.
	AA
	AA-
	A+	Group 3: Strong capacity to meet financial obligation, but somewhat susceptible to adverse economic conditions and changes in circumstances.
	A
	A-
	BBB+	Group 4: Adequate capacity but more vulnerable to adverse developments and economic conditions.
	BBB
	BBB-
Speculative grade	BB+	Group 5: Moderate capacity to meet financial obligations.
	BB
	BB-
	B+	Group 6: Weak capacity. High risk.
	B
	B-
	CCC+	Group 7: Very weak capability. Substantial risk.
	CCC
	CCC-
	CC
	C
Default
	SD/D	Group 8: Default. Payments on an obligation are not made on the date due or the issuer becomes insolvent. The 'D' rating also will be used upon the filing of a bankruptcy petition or the taking of similar action.