FiinRatings assigns ‘AAA’ Rating to VEV12601 Bond Issued by Verdant Vietnam Crystal

On 23 June 2026, FiinRatings assigned an initial “AAA” Bond Credit Rating to bond VEV12601 issued by Verdant Vietnam Crystal Company Limited ("Verdant Crystal"). The issuance has a total value of VND 224.6 billion, a nominal interest rate 6.95%/year, a 15-year maturity, and the proceeds are designated for investment in the Company's rooftop solar project portfolio in 2026.

​​​​​​​Bond VEV12601 is rated 'AAA' while Verdant Crystal's Issuer Credit Rating stands at 'BB+' with a 'Stable' Outlook. This outcome is supported by a comprehensive, unconditional, and irrevocable payment guarantee provided by international financial institution GuarantCo, resulting in the bond being assigned a 'AAA' rating. Under the guarantee arrangement, GuarantCo commits to the full and timely payment of principal, interest, and accrued interest if the issuer fails to meet its payment obligations.

The credit rating results at both the issuer and bond levels support the transaction process throughout. First, the issuer rating helps the company and the guarantor determine the issuer’s credit standing when structuring the guarantee. Second, investors can use the bond rating to assess investment risk and pricing.

VEV12601 is one of two transactions issued by subsidiaries within the Verdant Energy group that were assigned ‘AAA’ ratings by FiinRatings and announced on the same day on the basis of GuarantCo’s guarantee. Together with VEB12601 issued by Verdant Vietnam Bravo, this transaction shows that Verdant Energy is proactively leveraging long-term funding in Vietnam’s market to support its business development strategy in the country.

👉 Full rating reports are available at the links below:

• Verdant Crystal Issuer Credit Rating Announcement – HERE
• Bond VEV12601 Credit Rating Announcement – HERE

👉 Explore FiinRatings’ Credit Rating Services: Credit Ratings
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