* CREDIT RATING OPINION (first-time): vnBBB-
* OUTLOOK: Stable
* DATE OF RATING CERTIFICATION ISSUANCE: October 16, 2025
* BUSINESS LINE: Real estate development
* RATING COMMITTEE:
Mr. Bui Van Long, MSc
Mr. Le Hoang Quan, MBA
Ms. Bui Thu Huong, MBA, CFA
* ANALYSTS:
Ms. Nguyen Kim Chi, BA
Ms. Tran Thi Minh Thu, BA
* INFORMATION OF INTEREST CONFLICT
– Saigon Ratings’ share ownership in Vipico MTV Company Limited: None
– Saigon Ratings’ bond ownership in Vipico MTV Company Limited: None
– Saigon Ratings’ other debt instrument ownership in Vipico MTV Company Limited: None
– Saigon Ratings employee’s share ownership in Vipico MTV Company Limited: 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 (Vipico MTV Company Limited).
