* RATING BOND: VHM12604
* CREDIT RATING OPINION (first-time): vnAA+
* OUTLOOK: Stable
* DATE OF RATING CERTIFICATION ISSUANCE: May 06, 2026
* BUSINESS LINE: Real Estate Development
* RATING COMMITTEE:
Mr. Nguyen Duc Phu, MSc
Mr. Bui Van Long, MSc
Ms. Bui Thu Huong, MBA, CFA
* ANALYSTS:
Ms. Nguyen Kim Chi, CFA
Mr. Vu Thien Phong, ACCA, CFA
Ms. Tran Thi Minh Thu, BA
* INFORMATION OF INTEREST CONFLICT
– Saigon Ratings’ share ownership in Vinhomes Joint Stock Company: None
– Saigon Ratings’ bond ownership in Vinhomes Joint Stock Company: None
– Saigon Ratings’ other debt instrument ownership in Vinhomes Joint Stock Company: None
– Saigon Ratings employee’s share ownership in Vinhomes Joint Stock Company: 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 (Vinhomes Joint Stock Company).
