* CREDIT RATING OPINION (first-time): vnBBB-
* OUTLOOK: Stable
* DATE OF RATING CERTIFICATION ISSUANCE: July 28, 2026
* BUSINESS LINE:Real Estate Development
* RATING COMMITTEE:
Mr. Le Hoang Quan, MBA
Ms. Do Phuong Lan, MDE
Ms. Bui Thu Huong, MBA, CFA
* ANALYSTS:
Ms. Vo Ngoc Lan Anh, MBA
Ms. Nguyen Thi Thu Hoai, MSc
* INFORMATION OF INTEREST CONFLICT
– Saigon Ratings’ share ownership in Thanh Quang Development & Trading Investment Limited Liability Limited: None
– Saigon Ratings’ bond ownership in Thanh Quang Development & Trading Investment Limited Liability Limited: None
– Saigon Ratings’ other debt instrument ownership in Thanh Quang Development & Trading Investment Limited Liability Limited: None
– Saigon Ratings employee’s share ownership in Thanh Quang Development & Trading Investment Limited Liability 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 (Thanh Quang Development & Trading Investment Limited Liability Limited).
