FiinRatings Assigns ‘A-’ Credit Rating to Bond KBCL12601 Issued by Kinh Bac City Development Holding Corporation

On 17 August 2026, FiinRatings announced the initial ‘A-’ Bond Credit Rating, with a ‘Stable’ outlook, on bond KBCL12601 issued by Kinh Bac City Development Holding Corporation (“KBC” or the “Company”).

Bond KBCL12601 is not subordinated debt and is secured by assets. In the event that proceeds from the disposal of the Bond’s collateral assets are insufficient to fully settle the obligations relating to the Bond, the remaining unpaid obligations will rank at least pari passu with KBC’s other general unsecured obligations. Accordingly, FiinRatings assigns an ‘A-’ Bond Credit Rating to KBCL12601, equal to KBC’s ‘A-’ Issuer Credit Rating.

The 'Stable' outlook reflects FiinRatings' expectation that KBC will maintain its business performance and continue to benefit from demand for industrial land leasing, while keeping leverage under control during a period of peak investment. Going forward, FiinRatings will continue to monitor the implementation progress of KBC's key projects, developments in its capital structure, and changes in the business environment that could affect FDI inflows.

Notably, KBCL12601 is the first industrial-park bond rated by FiinRatings. The transaction reflects the growing application of credit ratings to specific debt instruments, contributing to greater information transparency and supporting investors in assessing credit risk.

👉 View the full Credit Rating Report for bond KBCL12601 at: THIS LINK

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