* CREDIT RATING OPINION (first-time): vnBB
* OUTLOOK: Stable
* DATE OF RATING CERTIFICATION ISSUANCE: August 20, 2025
* BUSINESS LINE: Real estate development
* RATING COMMITTEE:
Mr. Nguyen Duc Phu, MSc
Ms. Bui Thu Huong, MBA, CFA
Mr. Bui Van Long, MSc
* ANALYSTS:
Ms. Diep Ngoc Yen, MSc
Mr. Vu Thien Phong, CFA, ACCA
* INFORMATION OF INTEREST CONFLICT
– Saigon Ratings’ share ownership in Truong Minh Real Estate Investment and Development Company Limited: None
– Saigon Ratings’ bond ownership in Truong Minh Real Estate Investment and Development Company Limited: None
– Saigon Ratings’ other debt instrument ownership in Truong Minh Real Estate Investment and Development Company Limited: None
– Saigon Ratings employee’s share ownership in Truong Minh Real Estate Investment and Development 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 (Truong Minh Real Estate Investment and Development Company Limited).
