HCMC – The Ministry of Finance has officially licensed Thien Minh Credit Rating JSC to provide credit rating services, making it the fifth company in Vietnam authorized to operate in this sector.
Thien Minh Credit Rating JSC (Thien Minh Rating) is based on the 15th floor of the HAREC Building, 4 Lang Ha, Hanoi.
As of August 2024, four other enterprises had already received certification from the Ministry of Finance, in collaboration with other ministries and sectors.
These include Saigon Phat Thinh Ratings JSC, FiinRatings JSC (formerly FiinGroup JSC), Vietnam Investors Service and Credit Rating Agency JSC, and S&I Ratings JSC, according to the Baochinhphu news site.
Credit rating services assess the debt repayment capacity of issuers or specific financial instruments, including bonds. Such evaluations are critical for organizations planning to issue bonds to raise capital.
These activities enhance market transparency by offering detailed analyses and risk assessments in financial and bond markets.
Alongside independent auditing, credit ratings are vital for ensuring openness and integrity in financial market operations. They contribute to the sustainable development of capital markets and support the efficient allocation of funds within the economy.
Under the 2014 Law on Investment (amended in 2020) and Decree No. 88/2014/ND-CP, enterprises in the credit rating sector must obtain a certificate of eligibility for business operations from the Ministry of Finance.
Additionally, companies are prohibited from using terms such as “credit rating” in their names unless officially registered and licensed to provide these services.
