Tiếng Việt
Overview
Rating Scale
The rating scale below by FiinRatings represents a forward-looking opinion on the relative credit risk of issuers in Vietnam. We employ below rating scale in assigning ratings for all issuers across industries and sectors that we cover in Vietnam. The rating scale used by FiinRatings is the national scale, therefore, it must not be equated with or represented as a rating on the scale used by any other rating agencies.
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.
Short-term Credit Rating
Opinion of the ability of issuers in Vietnam, relative to other domestic issuers, to repay their debt obligations that have an original maturity not exceeding 13 months.
| Score | Definition and explanation |
|---|---|
| A-1 | An obligor rated 'A-1' has Strong capacity to meet its financial commitments. It is rated in the highest category by FiinRatings. Within this category, certain obligors are designated with a plus sign (+). This indicates that the obligor's capacity to meet its financial commitments is extremely strong. |
| A-2 | An obligor rated 'A-2' has Satisfactory capacity to meet its financial commitments. However, it is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligors in the highest rating category. |
| A-3 | An obligor rated 'A-3' has Adequate capacity to meet its financial obligations. However, adverse economic conditions or changing circumstances are more likely to weaken the obligor's capacity to meet its financial commitments. |
| B | An obligor rated 'B' is regarded as vulnerable and has significant speculative characteristics. The obligor currently has the capacity to meet its financial commitments; however, it faces major ongoing uncertainties that could lead to the obligor's inadequate capacity to meet its financial commitments. |
| C | An obligor rated 'C' is currently vulnerable to nonpayment that would result in an 'SD' or 'D' issuer rating and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments. |
| SD/D | An obligor is rated 'SD' (selective default) or 'D' if FiinRatings considers there to be a default on one or more of its financial obligations, whether long- or short-term, including rated and unrated obligations but excluding hybrid instruments classified as regulatory capital or in nonpayment according to terms. A 'D' rating is assigned when FiinRatings believes that the default will be a general default and that the obligor will fail to pay all or substantially all of its obligations as they come due. An 'SD' rating is assigned when FiinRatings believes that the obligor has selectively defaulted on a specific issue or class of obligations but it will continue to meet its payment obligations on other issues or classes of obligations in a timely manner. A rating on an obligor is lowered to 'D' or 'SD' if it is conducting a distressed debt restructuring. |
Follow Us On Social Media
Connect to update latest news and analysis from FiinRatings
