28.9 C
Ho Chi Minh City
Friday, June 14, 2024

FiinRatings assigns ORS “BBB-” rating

The Saigon Times

Must read

HCMC – Tien Phong Securities Corporation (HOSE: ORS) announced today, October 6, that the Vietnam-based credit rating agency FiinRatings had assigned ORS a “BBB-” rating with a stable outlook.

FiinRatings is an agency licensed by the Ministry of Finance and technically partnering with S&P Global Ratings. It also has the support of the Asian Development Bank.

The “Stable” outlook reflects FiinRatings’ expectation that ORS will continue to benefit from its strategic role in the ecosystem of Tien Phong Commercial Joint Stock Bank and maintain its position in investment banking.

FiinRatings assessed ORS’s ability to raise capital as adequate. This plays a significant role in maintaining the company’s liquidity position.

ORS is among the first securities companies in Vietnam to publicly disclose its credit rating. The move aligns with legal regulations and demonstrates the company’s commitment to transparency.

The credit rating is seen as a stepping stone for ORS’s future business expansion. The company aims to diversify its operations and maximize shareholder profits based on three pillars: investment banking, securities brokerage, and proprietary trading.

The “BBB-” rating reflects the firm’s ability to meet its debt obligations at a “relatively good” level.

ORS inched up 5.12% at the close today to VND17,450 per share, with more than 3.4 million shares changing hands.

With 372 winners and 118 losers, the VN-Index of the Hochiminh Stock Exchange increased 14.65 points, or 1.32%, to settle at 1,128.54 points.

The trading volume increased by over 2% compared to the previous session to more than 609 million shares, while the total value decreased by 1.85% to VND13 trillion. Block deals contributed VND812.4 billion to the overall value, with 35.54 million shares changing hands.

The VN30 basket, which consists of 30 largest-cap stocks, was a significant contributor to the main index’s performance. It saw 26 stocks rising, three remaining stable, and one declining.

Securities stocks stole the limelight today, with VIX, VND and SSI emerging as the top three most actively traded stocks in the market.

SSI closed 4.1% higher at VND32,950 per share and contributed nearly 0.5 point to the VN-Index, with nearly 26.5 million shares changing hands.

VIX and VND shot up to their upper limits to VND15,150 and VND20,900 per share, respectively, with a matching volume of over 37.8 million shares and 34.7 million shares.

Advancers doubled decliners on the Hanoi Stock Exchange. The HNX-Index rose by 2.45 points, or 1.07%, to 230.45 points. The total trading volume was over 71.44 million shares, with a value of more than VND1.3 trillion.

More articles


Please enter your comment!
Please enter your name here

Latest articles