* 6-MONTH SURVEILLANCE RESULT (First year): vnBB+
* OUTLOOK: Stable
* DATE OF RATING CERTIFICATION ISSUANCE: August 13, 2026
* RATING COMMITTEE:
Mr. Bui Van Long, MSc
Mr. Bui Thu Huong, MBA, CFA
Ms. Do Phuong Lan, MDE
* ANALYSTS:
Ms. Diep Ngoc Yen, MSc
Mr. Nguyen Hoang Chuong, BA
* INFORMATION OF INTEREST CONFLICT
– Saigon Ratings’ share ownership in Minh An Real Estate Investment and Development JSC: None
– Saigon Ratings’ bond ownership in Minh An Real Estate Investment and Development JSC: None
– Saigon Ratings’ other debt instrument ownership in Minh An Real Estate Investment and Development JSC: None
– Saigon Ratings employee’s share ownership in Minh An Real Estate Investment and Development JSC: None
Saigon Ratings is committed to the implementation of credit rating independently and objectively.
Saigon Ratings issued a credit rating report as a reference information; it is not an investment or capital contribution recommendation for debt instruments issued by the rated company (Minh An Real Estate Investment and Development JSC).
