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.

Rating Services


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 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.



Rating list

Thanh Thanh Cong Tourist JSCIn progress of first-time ratingHospitality---
Vietnam Biofuels Development JSCFirst-time ratingChemicalsVnCCC+NegativeApril 17, 2024See more
Green Mui Ne Company LimitedContract liquidated and terminated the first-time ratingHospitality---
Aqua City Hoa Binh Company LimitedFirst-time ratingReal estate developerVnBB-StableApril 12, 2024See more
Trung Minh New Urban Areas Company LimitedFirst-time ratingReal estate developerVnBB-StableApril 12, 2024See more
Lac Hong Tourist Trading JSCFirst-time ratingHospitalityvnBBBStableJanuary 23, 2024See more
Logisvalley Vina Company Limited (FDI)First-time ratingReal Estate RentalvnBB+StableFebruary 23, 2024See more
Logisvalley Bac Ninh Company Limited (FDI)First-time ratingReal Estate RentalvnBBB-StableFebruary 23, 2024See more
Ba Na Service Cable Car JSC (BANACAB)First-time ratingLeisurevnBBB-StableDecember 30, 2023See more
Ha Noi Highway Construction & Investment JSCFirst-time ratingTransportation InfrastructurevnA+StableDecember 25, 2023See more
BOT Ninh Thuan Province Company LimitedFirst-time ratingTransportation InfrastructurevnAStableDecember 25, 2023See more
Viet Dragon Securities Corporation (VDS)First-time ratingFinancial InstitutionvnBBBStableDecember 31, 2023See more
Tan Thanh Trading Tourism CorporationFirst-time ratingReal estate developervnBBB+StableNovember 15, 2023See more
Thai Nguyen International Hospital JSCFirst-time ratingHealthcare ServicesvnA+StableDecember 12, 2023See more
Thuan Duc Joint Stock CompanyFirst-time ratingContainer & PackagingvnBBBStableNovember 02, 2023See more
TNG Investment and Trading JSCFirst-time ratingGarmentvnAStableOctober 31, 2023See more
Khai Hoan Land Group JSCFirst-time ratingReal estate developervnBBB-StableDecember 15, 2023See more
Indochine Import Export Investment Industrial Joint Stock CompanyFirst-time ratingRenewable EnergyvnB-NegativeJune 28, 2023See more
Thanh Thanh Cong Investment Joint Stock Company (TTCI)SurveillanceInvestment Holding CompanyvnA+StableJanuary 12, 2024See more
Phu Hung Life Insurance Joint Stock Company (PHU HUNG LIFE)SurveillanceLife InsuranceConfidential-June 08, 2023See more
Thanh Thanh Cong Industrial zone Joint Stock Company (TTC IZ)SurveillanceReal Estate LeasingvnAStableDecember 21, 2023See more
VIETJET Aviation Joint Stock CompanySurveillanceTransportation - AirlinevnBBB-StableNovember 17, 2023See more
AMERICAN Property JSCExpiredReal estate developer---
VIET HAN Trading – Advertising – Construction – Real Estate JSCExpiredReal estate developer----
TNL Property leasing & Investment JSCExpiredProperty leasing----
TNR Holdings Vietnam Real Estate Investment Development JSCSurveillanceReal estate developerConfidential-January 12, 2023See more
Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT)SurveillanceSugar IndustryvnA+StableSeptember 15, 2023See more
TNH Hotels & Resorts Management & Investment JSCSurveillanceHospitalityConfidential-January 09, 2024See more
TNPOWER Energy JSCSurveillanceEnergyConfidential-November 16, 2022See more
Sao Vang Tay Do Construction CorporationSurveillanceReal estate developervnBBBStableJuly 10, 2023See more
Phu Hung Assurance Joint Stock Company (PAC)SurveillanceNon-life InsuranceConfidential-October 02, 2023See more
AAC CompanyExpiredReal estate developer---See more
HANO-VID CompanyExpiredReal estate developer---See more
Kirby South East Asia Co., Ltd.ExpiredBuilding materials---See more
Free Land Joint Stock CompanyExpiredReal estate developer---See more
Ngoc Thien Global CorporationIn progress of first-time ratingMetal production----
THANH VINH Realty Investment & Development JSCIn progress of first-time rating
(Surveillance for 2023, 2024, 2025)
Real estate developer----

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