CREDIT RATING RESULT OF THUAN DUC JSC FOR 2023

* CREDIT RATING OPINION (first time): vnBBB

* OUTLOOK: Stable

* DATE OF RATING CERTIFICATION ISSUANCE: November 02, 2023

* BUSINESS LINE: Container & Packaging

* ANALYSTS:

Mr. Nguyen Duc Phu, MSc

Mr. Vo Tan Duc, MSc

Mr. Tran Ngoc Huy, MBA

* RATING COMMITTEE:

Mr. Le Hoang Quan, MBA

Mr. Nguyen Phi Long, ACCA

Mr. Bui Van Long, MSc

* INFORMATION OF INTEREST CONFLICT

– Saigon Ratings’ share ownership in THUAN DUC JSC: None

– Saigon Ratings’ bond ownership in THUAN DUC JSC: None

– Saigon Ratings’ other debt instrument ownership in THUAN DUC JSC: None

– Saigon Ratings employee’s share ownership in THUAN DUC 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 (THUAN DUC JSC).