FiinRatings Assigns "AA+" Credit Rating to KNCL12601 Bond Issued by KN Cam Ranh Company Limited

On 24 August 2026, FiinRatings assigned an initial "AA+" Bond Credit Rating, with a "Stable" outlook, to bond KNCL12601 issued by KN Cam Ranh Company Limited ("KN Cam Ranh").

KNCL12601 is a resort real estate bond backed by a full payment guarantee from a commercial bank.

Under FiinRatings' credit substitution approach applied to debt instruments with a full payment guarantee, the bond's rating is aligned with the credit profile of the guarantor. Accordingly, FiinRatings rated KNCL12601 at "AA+", equal to the credit rating of Asia Commercial Joint Stock Bank (ACB), which provides a comprehensive, unconditional, and irrevocable payment guarantee for the bond.

This transaction demonstrates the role of credit ratings in clarifying the creditworthiness of debt instruments, providing an additional reference point for investment decisions. Through independent credit ratings, FiinRatings aims to support issuers in enhancing transparency and access to capital markets, while helping investors identify risk and contribute to the sustainable development of Vietnam's capital market.

👉 View the full KNCL12601 Bond Credit Rating Report:HERE
👉Explore FiinRatings' Credit Rating services: https://fiinratings.vn/en/product/credit-ratings.html

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Contact FiinRatings for furtherinformation:

📩 Email: support@fiinratings.vn
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