* CREDIT RATING OPINION (first-time): vnA-
* OUTLOOK: Stable
* DATE OF RATING CERTIFICATION ISSUANCE: November 18, 2025
* BUSINESS LINE: Retail
* RATING COMMITTEE:
Ms. Bui Thu Huong, MBA, CFA
Mr. Nguyen Duc Phu, MSc
Mr. Le Hoang Quan, MBA
* ANALYSTS:
Mr. Le Hoang Quan, MBA
Ms. Nguyen Kim Chi, BA
* INFORMATION OF INTEREST CONFLICT
– Saigon Ratings’ share ownership in Thiso International Commerce and Services Corporation: None
– Saigon Ratings’ bond ownership in Thiso International Commerce and Services Corporation: None
– Saigon Ratings’ other debt instrument ownership in Thiso International Commerce and Services Corporation: None
– Saigon Ratings employee’s share ownership in Thiso International Commerce and Services Corporation: 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 (Thiso International Commerce and Services Corporation).
