Rating Update
About us
We are extremely proud and honored that Saigon Ratings (SGR), an independent Credit Rating Agency (CRA), has been a pioneer in the financial market and has been licensed by the Ministry of Finance for credit rating activity; and at the same time Saigon Ratings is the first domestic CRA, has performed the function of providing credit rating services in the Vietnamese market.
MISSION
Saigon Ratings is a reliable partner who supports corporations and financial institutions in attracting investment capital. As a trusted partner of investors, we are committed to contributions to the national benefits, society and prosperity of Vietnam.
VISION
Saigon Ratings strives to become a Credit Rating Agency with the leading national brand in Vietnam and the reputable recognition in the Asian financial market.
ORGANIZATIONAL CULTURE
Saigon Ratings creates and promotes an Organizational Culture that attracts talents, creates a humane working environment and continues to learn, create and innovate. The Board of Director’s shares difficulties, challenges and successes with all members of the organization.
OPERATION RELATION AND DEVELOPMENT PHILOSOPHY
- Independence & Objectivity, Integrity, Transparency.
- Uphold Professional Ethical Standards.
- Saigon Ratings places the interests of the social community, customers, investors and the responsibility of developing a strong national economy in the interests of the organization.
Credit Rating Services
CREDIT RATING REPORTS
Saigon Ratings provides independent assessments and forecasts of an issuer’s credit risks or a debt instrument. These evaluations demonstrate the opinion about the ability and readiness of a business entity to meet financial commitments at the maturity date, as well as the credit quality of the individual debt.
ASSESSMENT REPORTS AND ANALYSIS REPORTS
Assessment reports and Analysis reports are point-in-time analyses of the issuer’s strengths and weaknesses, debt obligations, or proposed financial structure. The reports may contain some similar parts or analyze some significant factors typically considered during the Credit Rating Process.
STRATEGIC PARTNERSHIPS
Rating list
TOTAL OF RATINGS: 104
| PUBLICATION DATE | ISSUER | INDUSTRY | RATING OBJECT | RATING STATUS | RATING RESULT | OUTLOOK | DETAILS |
|---|---|---|---|---|---|---|---|
| HDBANK Debt trading And Asset Management JSC | Services | Issuer Rating | In progress of first-time rating | ||||
| Phu Long Real Estates Corporation | Real estate development | Issuer Rating | In progress of first-time rating | ||||
| Sovico Group JSC | Group | Issuer Rating | In progress of first-time rating | ||||
| Sovico Holdings Company | Investment Holding Company | Issuer Rating | In progress of first-time rating | ||||
| 2024-12-21 | Renewable Energy Company Limited | Energy | Issuer Rating | First-time rating | vnBB | Stable | See more |
| 2024-12-13 | I.P.A Investment JSC | Investment Holding Company | Issuer Rating | Surveillance | vnBBB+ | Stable | See more |
| 2024-12-12 | Thuan Duc Joint Stock Company | Container & Packaging | Issuer Rating | Surveillance | vnBBB | Stable | See more |
| 2024-11-28 | Rox Key Holdings JSC | Professional Services | Issuer Rating | First-time rating | vnA- | Stable | See more |
| 2024-11-25 | An Thinh General Commercial Services Limited Liability Company | Real estate development | Issuer Rating | First-time rating | vnBB | Stable | See more |
| 2024-11-25 | Newco Development And Investment JSC | Real estate development | Issuer Rating | First-time rating | vnBB- | Stable | See more |
| 2024-11-12 | Green Saigon Import Export JSC | Real estate development | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2024-11-06 | TCO Real Estate Business And Consultancy JSC | Real estate development | Issuer Rating | First-time rating | vnBB- | Stable | See more |
| 2024-10-23 | Trung Minh New Urban Areas Company Limited | Real estate development | Issuer Rating | Surveillance | vnBB- | Stable | See more |
| 2024-10-23 | Aqua City Hoa Binh Company Limited | Real estate development | Issuer Rating | Surveillance | vnBB- | Stable | See more |
| 2024-10-23 | Vietnam Biofuels Development JSC | Chemicals | Issuer Rating | Surveillance | vnCCC+ | Negative | See more |
| 2024-09-27 | 577 Investment Corporation | Real estate development | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2024-09-27 | Residence Development & Investment JSC | Real estate development | Issuer Rating | First-time rating | vnB | Stable | See more |
| 2024-09-27 | Saigon Home Real Estate Development Company Limited | Real estate development | Issuer Rating | First-time rating | vnB- | Stable | See more |
| 2024-09-23 | Masterise Lumiere Office Building Service JSC | Real estate development | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2024-09-16 | VinFast Trading and Production JSC | Car Production | Issuer Rating | First-time rating | vnBB | Stable | See more |
| 2024-09-12 | Sunshine Sky Villa JSC | Real estate development | Issuer Rating | First-time rating | vnBBB- | Stable | See more |
| 2024-09-10 | GSM Green and Smart Mobility JSC | Transportation | Issuer Rating | First-time rating | vnBB | Stable | See more |
| 2024-09-06 | Phu Hung Phat Company Limited | Real estate development | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2024-08-19 | Logisvalley Bac Ninh Company Limited (FDI) | Real Estate Rental | Issuer Rating | Surveillance | vnBBB- | Stable | See more |
| 2024-08-19 | Logisvalley Vina Company Limited (FDI) | Real Estate Rental | Issuer Rating | Surveillance | vnBB+ | Stable | See more |
| 2024-08-13 | Phu Hung Assurance Joint Stock Company (PAC) | Non-life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2024-08-09 | Allgreen-Vuong Thanh-Trung Duong Company Limited | Real estate development | Issuer Rating | First-time rating | vnBB- | Stable | See more |
| 2024-07-31 | Viet Dragon Securities Corporation (VDS) | Financial Institution | Issuer Rating | Surveillance | vnBBB | Stable | See more |
| 2024-07-31 | Thai Nguyen International Hospital JSC | Healthcare Services | Issuer Rating | Surveillance (expired) | vnA+ | Stable | See more |
| 2024-07-30 | Lac Hong Tourist Trading JSC | Hospitality | Issuer Rating | Surveillance | vnBBB | Stable | See more |
| 2024-07-30 | Hoang Dong Duong Investment Joint Stock Company | Real estate development | Issuer Rating | First-time rating | vnBB | Stable | See more |
| 2024-07-22 | Hai Dang Real Estate Investment & Development Company Limited | Real estate development | Issuer Rating | First-time rating | vnBB+ | Stable | See more |
| 2024-07-18 | Ba Na Service Cable Car JSC (BANACAB) | Entertainment Services | Issuer Rating | Surveillance | vnBBB- | Stable | See more |
| 2024-07-18 | TNPOWER Energy JSC | Energy | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2024-07-16 | Huy Duong Group JSC | Real estate development | Issuer Rating | First-time rating | vnBB- | Stable | See more |
| 2024-07-15 | Thanh Thanh Cong Investment Joint Stock Company (TTCI) | Investment Holding Company | Issuer Rating | Surveillance | vnA+ | Stable | See more |
| 2024-07-12 | BOT Trung Luong - My Thuan JSC | Transportation Infrastructure | Issuer Rating | First-time rating | vnA | Stable | See more |
| 2024-07-09 | Khai Hoan Land Group JSC | Real estate development | Issuer Rating | Surveillance | vnBBB- | Stable | See more |
| 2024-07-08 | Song Phuong Industrial - Real Estate and Construction Company Limited | Real estate development | Issuer Rating | First-time rating | vnBBB- | Stable | See more |
| 2024-07-02 | Ha Noi Highway Construction & Investment JSC | Transportation Infrastructure | Issuer Rating | Surveillance | vnA+ | Stable | See more |
| 2024-07-01 | BOT Ninh Thuan Province Company Limited | Transportation Infrastructure | Issuer Rating | Surveillance | vnA | Stable | See more |
| 2024-07-01 | Ho Chi Minh City Infrastructure Investment JSC (CII) | Technical Infrastructure | Issuer Rating | First-time rating | vnA+ | Stable | See more |
| 2024-06-28 | Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT) | Sugar Industry | Issuer Rating | Surveillance (expired) | vnA+ | Stable | See more |
| 2024-06-26 | Vietjet Aviation Joint Stock Company | Transportation - Airline | Issuer Rating | Surveillance | vnBBB- | Stable | See more |
| 2024-06-18 | TNG Investment and Trading JSC | Garment | Issuer Rating | Surveillance (expired) | vnA | Stable | See more |
| 2024-06-17 | Thanh Thanh Cong Industrial zone Joint Stock Company (TTC IZ) | Real Estate Rental | Issuer Rating | Surveillance | vnA | Stable | See more |
| 2024-06-17 | Tan Thanh Tourism Trading Joint Stock Company | Real estate development | Issuer Rating | Surveillance (Expired) | vnBBB+ | Stable | See more |
| 2024-06-06 | Thuan Duc Joint Stock Company | Container & Packaging | Issuer Rating | Surveillance | vnBBB | Stable | See more |
| 2024-06-05 | Phu Hung Life Insurance Joint Stock Company (PHU HUNG LIFE) | Life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2024-05-31 | I.P.A Investment JSC | Investment Holding Company | Issuer Rating | First-time rating | vnBBB+ | Stable | See more |
| 2024-05-30 | Thanh Thanh Cong Tourist JSC | Hospitality | Issuer Rating | First-time rating | vnBBB+ | Stable | See more |
| 2024-04-17 | Vietnam Biofuels Development JSC | Chemicals | Issuer Rating | First-time rating | vnCCC+ | Negative | See more |
| 2024-04-12 | Aqua City Hoa Binh Company Limited | Real estate development | Issuer Rating | First-time rating | vnBB- | Stable | See more |
| 2024-04-12 | Trung Minh New Urban Areas Company Limited | Real estate development | Issuer Rating | First-time rating | vnBB- | Stable | See more |
| 2024-02-23 | Logisvalley Bac Ninh Company Limited (FDI) | Real Estate Rental | Issuer Rating | First-time rating | vnBBB- | Stable | See more |
| 2024-02-23 | Logisvalley Vina Company Limited (FDI) | Real Estate Rental | Issuer Rating | First-time rating | vnBB+ | Stable | See more |
| 2024-01-23 | Lac Hong Tourist Trading JSC | Hospitality | Issuer Rating | First-time rating | vnBBB | Stable | See more |
| 2024-01-12 | Thanh Thanh Cong Investment Joint Stock Company (TTCI) | Investment Holding Company | Issuer Rating | Surveillance | vnA+ | Stable | See more |
| 2024-01-09 | TNH Hotels & Resorts Management & Investment JSC | Hospitality | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2023-12-31 | Viet Dragon Securities Corporation (VDS) | Financial Institution | Issuer Rating | First-time rating | vnBBB | Stable | See more |
| 2023-12-30 | Ba Na Service Cable Car JSC (BANACAB) | Leisure | Issuer Rating | First-time rating | vnBBB- | Stable | See more |
| 2023-12-25 | BOT Ninh Thuan Province Company Limited | Transportation Infrastructure | Issuer Rating | First-time rating | vnA | Stable | See more |
| 2023-12-25 | Ha Noi Highway Construction & Investment JSC | Transportation Infrastructure | Issuer Rating | First-time rating | vnA+ | Stable | See more |
| 2023-12-21 | Thanh Thanh Cong Industrial zone Joint Stock Company (TTC IZ) | Real Estate Rental | Issuer Rating | Surveillance | vnA | Stable | See more |
| 2023-12-15 | Khai Hoan Land Group JSC | Real estate development | Issuer Rating | First-time rating | vnBBB- | Stable | See more |
| 2023-12-12 | Thai Nguyen International Hospital JSC | Healthcare Services | Issuer Rating | First-time rating (expired) | vnA+ | Stable | See more |
| 2023-11-17 | VIETJET Aviation Joint Stock Company | Transportation - Airline | Issuer Rating | Surveillance | vnBBB- | Stable | See more |
| 2023-11-15 | Tan Thanh Tourism Trading Joint Stock Company | Real estate development | Issuer Rating | First-time rating (Expired) | vnBBB+ | Stable | See more |
| 2023-11-02 | Thuan Duc Joint Stock Company | Container & Packaging | Issuer Rating | First-time rating | vnBBB | Stable | See more |
| 2023-10-31 | TNG Investment and Trading JSC | Garment | Issuer Rating | First-time rating (expired) | vnA | Stable | See more |
| 2023-10-02 | Phu Hung Assurance Joint Stock Company (PAC) | Non-life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2023-09-15 | Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT) | Sugar Industry | Issuer Rating | Surveillance (expired) | vnA+ | Stable | See more |
| 2023-07-10 | Sao Vang Tay Do Construction Corporation | Real estate development | Issuer Rating | Surveillance (expired) | vnBBB | Stable | See more |
| 2023-06-28 | Indochine Import Export Investment Industrial Joint Stock Company | Renewable Energy | Issuer Rating | First-time rating | vnB- | Negative | See more |
| 2023-06-12 | Thanh Thanh Cong Investment Joint Stock Company (TTCI) | Investment Holding Company | Issuer Rating | First-time rating | vnA+ | Stable | See more |
| 2023-06-08 | Phu Hung Life Insurance Joint Stock Company (PHU HUNG LIFE) | Life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2023-05-26 | Thanh Thanh Cong Industrial zone Joint Stock Company (TTC IZ) | Real Estate Rental | Issuer Rating | First-time rating | vnA | Stable | See more |
| 2023-03-27 | VIETJET Aviation Joint Stock Company | Transportation - Airline | Issuer Rating | First-time rating | vnBB+ | Stable | See more |
| 2023-03-14 | TNL Property leasing & Investment JSC | Property leasing | Issuer Rating | Surveillance (Expired) | Confidential | Confidential | See more |
| 2023-03-14 | Viet Han Trading – Advertising – Construction – Real Estate JSC | Real estate development | Issuer Rating | Surveillance (Expired) | Confidential | Confidential | See more |
| 2023-03-14 | American Property JSC | Real estate development | Issuer Rating | Surveillance (Expired) | Confidential | Confidential | See more |
| 2023-01-12 | TNR Holdings Vietnam Real Estate Investment Development JSC | Real estate development | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2022-12-30 | Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT) | Sugar Industry | Issuer Rating | First-time rating (expired) | vnA+ | Stable | See more |
| 2022-12-13 | TNH Hotels & Resorts Management & Investment JSC | Hospitality | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2022-11-16 | TNPOWER Energy JSC | Energy | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2022-10-05 | Sao Vang Tay Do Construction Corporation | Real estate development | Issuer Rating | First-time rating (expired) | vnBBB | Stable | See more |
| 2022-09-13 | Phu Hung Assurance Joint Stock Company (PAC) | Bảo hiểm phi nhân thọ | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2022-09-06 | HANO-VID Real Estate JSC | Real estate development | Issuer Rating | First-time rating (Expired) | Confidential | Confidential | See more |
| 2022-09-06 | AAC Viet Nam JSC | Real estate development | Issuer Rating | First-time rating (Expired) | Confidential | Confidential | See more |
| 2022-09-06 | TNH Hotels & Resorts Management & Investment JSC | Hospitality | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2022-06-07 | Phu Hung Life Insurance Joint Stock Company (PHU HUNG LIFE) | Life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2022-05-10 | Kirby South East Asia Co., Ltd. | Building materials | Issuer Rating | First-time rating (expired) | vnA- | Stable | See more |
| 2021-07-27 | Phu Hung Assurance Joint Stock Company (PAC) | Non-life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2021-06-08 | Phu Hung Life Insurance Joint Stock Company (PHU HUNG LIFE) | Life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2020-10-14 | Phu Hung Assurance Joint Stock Company (PAC) | Non-life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2020-06-03 | Phu Hung Life Insurance Joint Stock Company (PHU HUNG LIFE) | Life Insurance | Issuer Rating | Surveillance | Confidential | Confidential | See more |
| 2019-11-28 | Phu Hung Assurance Joint Stock Company (PAC) | Non-life Insurance | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2019-09-12 | Free Land Joint Stock Company | Real estate development | Issuer Rating | First-time rating (Expired) | A | Stable | See more |
| 2019-06-26 | Phu Hung Life Insurance Joint Stock Company (PHU HUNG LIFE) | Life Insurance | Issuer Rating | First-time rating | Confidential | Confidential | See more |
| 2019-03-20 | Kirby South East Asia Co., Ltd. | Building materials | Issuer Rating | First-time rating (Expired) | A | Stable | See more |
| Green Mui Ne Company Limited | Hospitality | Issuer Rating | Contract liquidated and terminated the first-time rating | ||||
| Ngoc Thien Global Corporation | Metal production | Issuer Rating | Temporarily suspend the first time rating | ||||
| Apec Joint Stock Company | Technical Infrastructure | Issuer Rating | Temporarily suspend the first time rating | ||||
| THANH VINH Realty Investment & Development JSC | Real estate development | Issuer Rating | Temporarily suspend the first time rating |
