{"id":2801,"date":"2022-10-02T09:42:48","date_gmt":"2022-10-02T02:42:48","guid":{"rendered":"https:\/\/saigonratings.com\/?page_id=2801"},"modified":"2026-05-09T16:42:41","modified_gmt":"2026-05-09T09:42:41","slug":"credit-rating-in-vietnam","status":"publish","type":"page","link":"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/","title":{"rendered":"Credit Rating in VietNam &#8211; SaigonRatings"},"content":{"rendered":"\n <div class=\"banner has-hover\" id=\"banner-895379537\">\n <div class=\"banner-inner fill\">\n <div class=\"banner-bg fill\" >\n <div class=\"bg fill bg-fill bg-loaded\"><\/div>\n <div class=\"overlay\"><\/div> \n <\/div>\n\t\t\n <div class=\"banner-layers container\">\n <div class=\"fill banner-link\"><\/div> \n <div id=\"text-box-1866463414\" class=\"text-box banner-layer x50 md-x50 lg-x50 y50 md-y50 lg-y50 res-text\">\n <div class=\"text-box-content text dark\">\n \n <div class=\"text-inner text-center\">\n \n<h1 class=\"uppercase\" style=\"font-size: 40px; text-align: Center;\"><span class=\"ez-toc-section\" id=\"Credit_Rating_in_Vietnam\"><\/span>Credit Rating in Vietnam<span class=\"ez-toc-section-end\"><\/span><\/h1>\n <\/div>\n <\/div>\n \n<style>\n#text-box-1866463414{\n width:100%;\n}\n#text-box-1866463414 .text-box-content{\n font-size:100%;\n}\n<\/style>\n <\/div>\n \n <\/div>\n <\/div>\n\n \n<style>\n#banner-895379537{\n padding-top:50%;\n background-color:rgb(255,255,255);\n}\n#banner-895379537 .bg.bg-loaded{\n background-image:url(https:\/\/saigonratings.com\/wp-content\/uploads\/2026\/05\/Saigon-Rating-Morning-1.png);\n}\n#banner-895379537 .overlay{\n background-color:rgba(0,0,0,0.355);\n}\n#banner-895379537 .bg{\n background-position:0% 85%;\n}\n#banner-895379537 .ux-shape-divider--top svg{\n height:150px;\n --divider-top-width:100%;\n}\n#banner-895379537 .ux-shape-divider--bottom svg{\n height:150px;\n --divider-width:100%;\n}\n@media (min-width:550px){\n #banner-895379537{\n padding-top:300px;\n}\n}\n<\/style>\n <\/div>\n\n\n<div class=\"row about-us\" id=\"row-31064565\">\n\n\t<div id=\"col-279988638\" class=\"col small-12 large-12\" >\n\t\t\t\t<div class=\"col-inner\" >\n\t\t\t\n\t\t\t\n<p>&nbsp;<\/p>\n<section style=\"max-width: 1280px; margin: 0 auto; font-family: Arial, sans-serif; line-height: 1.7; font-size: 17px; padding: 20px;\">\n<p class=\"uppercase\" style=\"font-size: 30px; text-align: center;\" data-start=\"294\" data-end=\"384\"><strong>What is credit rating? Its role and significance.<\/strong><\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 ez-toc-wrap-right ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">M\u1ee5c l\u1ee5c :<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#Credit_Rating_in_Vietnam\" >Credit Rating in Vietnam<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#I_THE_ROLE_AND_SIGNIFICANCE_OF_CREDIT_RATING\" >I. THE ROLE AND SIGNIFICANCE OF CREDIT RATING<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#II_DEFINITION_OF_CREDIT_RATING\" >II. DEFINITION OF CREDIT RATING<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#21_Issuer_rating_corporations_or_financial_institutions\" >2.1. Issuer rating (corporations or financial institutions)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#22_Credit_rating_of_debt_instruments\" >2.2 Credit rating of debt instruments<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#III_TYPES_OF_CREDIT_RATINGS\" >III. TYPES OF CREDIT RATINGS<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#31_Solicited_credit_rating\" >3.1 Solicited credit rating<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#32_Unsolicited_credit_rating\" >3.2 Unsolicited credit rating<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#IV_OUTLOOK\" >IV. OUTLOOK<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#V_CREDIT_WATCH\" >V. CREDIT WATCH<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#VI_CREDIT_UPDATE\" >VI. CREDIT UPDATE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#VII_DISCONTINUE_RATING_AND_WITHDRAW_CREDIT_RATING\" >VII. DISCONTINUE RATING AND WITHDRAW CREDIT RATING<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#CREDIT_RATING_DEFINITIONS_AND_TERMS\" >CREDIT RATING DEFINITIONS AND TERMS<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#SAI_GON_PHAT_THINH_RATINGS_JOINT_STOCK_COMPANY_%E2%80%93_SAIGON_RATINGS\" >SAI GON PHAT THINH RATINGS JOINT STOCK COMPANY \u2013 SAIGON RATINGS<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p data-start=\"81\" data-end=\"240\"><strong data-start=\"81\" data-end=\"134\">What is credit rating? Its role and significance. <\/strong>This is the process of assessing the financial credibility of a company or a debt-issuing organization.<\/p>\n<p data-start=\"242\" data-end=\"399\">A <strong data-start=\"244\" data-end=\"261\">Credit Rating<\/strong> refers to the evaluation of the financial capacity of an organization, business, or even a country to repay its debt obligations on time.<\/p>\n<p data-start=\"401\" data-end=\"482\">The main purpose is to reflect the level of credit risk for lenders or investors.<\/p>\n<p data-start=\"484\" data-end=\"635\">Let\u2019s explore the roles and significance of credit ratings with <strong data-start=\"548\" data-end=\"565\">SaigonRatings<\/strong> \u2014 one of the leading and reputable credit rating agencies in Vietnam.<\/p>\n<figure id=\"attachment_8316\" aria-describedby=\"caption-attachment-8316\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-8316 size-medium\" src=\"https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/SAIGON-RATINGS-800x369.jpg\" alt=\"What is credit rating?\" width=\"800\" height=\"369\" srcset=\"https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/SAIGON-RATINGS-800x369.jpg 800w, https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/SAIGON-RATINGS-768x355.jpg 768w, https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/SAIGON-RATINGS.jpg 1280w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-8316\" class=\"wp-caption-text\"><a href=\"https:\/\/saigonratings.com\/en\/organizational-structure-saigon-ratings\/\">SaigonRatings Staff.<\/a><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"I_THE_ROLE_AND_SIGNIFICANCE_OF_CREDIT_RATING\"><\/span>I. THE ROLE AND SIGNIFICANCE OF CREDIT RATING<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>A credit rating agency (CRA) is one of the intermediaries of the international and national financial markets. CRA<br \/>\nperforms credit ratings of issuers (financial and non-financial) and debt instruments, is an integral part of the<br \/>\nrequirement for synchronous development of debt capital market infrastructure, to overcome information asymmetry<br \/>\nin financial markets; and at the same time provides objective, timely and reliable for investors (institutions and<br \/>\nindividuals) in domestic and international financial markets.<\/li>\n<li>Credit ratings information of issuers and\/or debt instruments is an independent, objective and useful reference<br \/>\nbase to help investors minimize investment risks and is a reference tool for effective asset management.<\/li>\n<li>\u00a0For issuers, Credit rating information will be an important basis for accessing more mobilization channels in the<br \/>\ncapital market, contributing to reducing the cost of financing and raising capital and having more options to balance<br \/>\nand restructure debt instruments to meet business development goals.<\/li>\n<li>Finally, the financial market also benefits from Credit Rating activities as it gradually contributes to the creation of<br \/>\ndiversified investment demand and improves market performance by minimizing information asymmetry.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-8993 aligncenter\" src=\"https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/08\/Creadit-Rating.jpg\" alt=\"Creadit Rating\" width=\"678\" height=\"371\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"II_DEFINITION_OF_CREDIT_RATING\"><\/span>II. DEFINITION OF CREDIT RATING<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Credit Rating is an assessment of the creditworthiness of ability to fully fulfill and on time the debt obligations of the<br \/>\nissuer and\/or Debt Instrument. The credit rating is carried out by world CRA organizations, based on a<br \/>\ncomprehensive assessment analysis and concurently relevant qualitative and quantitative significant risk factors of<br \/>\nthe issuer.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"21_Issuer_rating_corporations_or_financial_institutions\"><\/span>2.1. Issuer rating (corporations or financial institutions)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>The issuer credit rating of Saigon Ratings is an objective assessment of the overall creditworthiness of that issuer.<\/li>\n<li>This assessment focuses on the issuer&#8217;s ability and willingness to meet its financial commitments when payments come<br \/>\ndue. This, however, does not apply to any particular financial obligation, as it does not take into account the nature<br \/>\nand terms of the obligation, nor the recoverability of each obligation in the event of default.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"22_Credit_rating_of_debt_instruments\"><\/span>2.2 Credit rating of debt instruments<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><strong>Saigon Ratings<\/strong>&#8216; debt instrument credit rating, which is an objective assessment of an obligor&#8217;s creditworthiness for a<br \/>\nparticular financial obligation, a particular type of financial obligation, or a particular financial instrument.<br \/>\nOpinion reflects Saigon Ratings &#8216; view of the obligor&#8217;s ability and willingness to meet its financial commitments, when<br \/>\nthey come due. Credit rating of debt instruments, including the integration of assessment of commitment terms,<br \/>\ncollateral and other factors (for example, credit rating of the guarantor or other forms of guarantee) other credit of the<br \/>\nobligation), which can affect the ability to collect the debt in the event of an issuer default.<\/li>\n<li>Credit ratings on debt instruments (including bonds or loans) can be long-term or short-term. Short-term credit ratings<br \/>\nare usually assigned to short-term debt instruments (with maturities equal to or less than 12 months). Short-term debt<br \/>\ninstrument credit ratings are also used to assess the creditworthiness of the obligor, for the exercise of put options<br \/>\nwith maturities of less than one year, of long-term debt instruments.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"III_TYPES_OF_CREDIT_RATINGS\"><\/span>III. TYPES OF CREDIT RATINGS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to the professional practices and standards of the world&#8217;s independent credit rating agencies (Credit Rating<br \/>\nAgency \u2013 CRA), Saigon Ratings applies two types of credit ratings, solicited and non-solicited, to issuers (financial and<br \/>\nnon-financial) in the domestic market.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"31_Solicited_credit_rating\"><\/span>3.1 Solicited credit rating<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>A solicited credit rating means the rating activity performed with rating fees when Saigon Ratings signs a contract of<br \/>\nproviding rating service with the clients. In the process of solicited rating implementation, Saigon Ratings pays special<br \/>\nattention to compliance with the Internal Control system regarding management policies and mechanisms for resolving<br \/>\nconflicts of interest to prevent, detect and promptly handle risks in the credit rating operation process.<\/li>\n<li>The solicited rating may be either a public credit rating (disclosure of the rating results) or confidential credit rating (no<br \/>\ndisclosure of the rating results), depending on the requirements of the rated entities or third parties.<br \/>\nIn case the customer requests Saigon Ratings to keep the rating results confidential, the parties can agree on the terms<br \/>\nof confidentiality commitment in the Credit Rating service provision contract.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"32_Unsolicited_credit_rating\"><\/span>3.2 Unsolicited credit rating<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>An unspecified credit rating is a rating activity performed with not rating fees when Saigon Ratings does not sign a<br \/>\ncontract of providing rating service with the clients. In this case, the rating results are kept confidential. Unsolicited<br \/>\ncredit rating is implemented as a part of professional operations of one CRA.<\/li>\n<li>Saigon Ratings only performs the Unsolicited credit rating for specific research subjects, when we believe that there is<br \/>\nsufficient important information to meet the requirements of Saigon Ratings&#8217; Rating methodology.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"IV_OUTLOOK\"><\/span>IV. OUTLOOK<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The rating outlook provides additional information on the rated entity&#8217;s expected rating transition trend in the medium<br \/>\nand long term (Long term Credit rating). The time horizon of Rating Outlook is longer than Credit Watch listings, and<br \/>\nincorporate trends or risks that we believe may occur affecting creditworthiness.<br \/>\nRating outlook is assessed by Saigon Ratings, including 04 levels: Stable, Positive, Negative, Developing.<\/p>\n<p>\u2022 A \u201cStable\u201d outlook indicates that the Rating is likely to remain unchanged.<br \/>\n\u2022 A \u201cPositive\u201d outlook indicates that the Rating could be raised.<br \/>\n\u2022 A \u201cNegative\u201d outlook indicates that the Rating may be downgraded.<br \/>\n\u2022 The \u201cUpdating\u201d outlook indicates that the Rating may be raised or lowered.<\/p>\n<p>When <strong>Saigon Ratings<\/strong> issues a &#8220;Positive&#8221; or &#8220;Negative&#8221; outlook rating, it does not imply that a rating must necessarily<br \/>\nbe upgraded or downgraded in the future.<\/p>\n<p>Saigon Ratings discloses the outlook of the rated entity to be the &#8220;Positive&#8221; or &#8220;Negative&#8221; when an event or trend has<br \/>\nless impact on the ability to change ratings than Credit Watch.<\/p>\n<p>The Outlook is disclosed to be &#8220;Positive&#8221; or &#8220;Negative&#8221; when the occurrence of an event or trend may lead to a change<br \/>\nin rating in the medium term. For example, a company with rapid improvement in income and cash flow may still have<br \/>\na &#8220;Stable&#8221; outlook if Saigon Ratings considers this as an unsustainable trend which will be less likely to upgrade its<br \/>\nrating.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"V_CREDIT_WATCH\"><\/span>V. CREDIT WATCH<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Credit Watch highlights the potential direction of a short-term or long-term rating. The events happening to the rated<br \/>\nentity in Credit Watch list will be the basis to put the rating under special supervision.<br \/>\nUnusual events may arise from the following factors:<br \/>\n\u2022 Factors affecting macroeconomics.<br \/>\n\u2022 Effects of industry fluctuations.<br \/>\n\u2022 Influence from internal business activities.<\/p>\n<p><strong>Saigon Ratings<\/strong> uses Credit Watch when we think it is necessary to monitor the credit rating of that business within<br \/>\n90 days.<br \/>\nRatings will be included in Credit Watch in the following cases<\/p>\n<p>\u2022 <strong>Case 1:<\/strong> When an event that deviates from the expected trend has occurred or is likely to occur and when additional<br \/>\ninformation is needed to draw a conclusion or debt instrument.<\/p>\n<p>\u2022 <strong>Case 2<\/strong>: When Saigon Ratings believes there has been a material change in the performance of an issuer or Debt<br \/>\nInstrument, but the magnitude of the effect on the Rating has not been fully reflected and Saigon Ratings believes<br \/>\nthat Rating changes are likely to happen in the short term.<\/p>\n<p>\u2022 <strong>Case 3:<\/strong> Changes in the evaluation criteria have been applied and require a review of all rated businesses in the<br \/>\neconomic sector, and Saigon Ratings believes that such changes have may affect the Credit Rating results.<\/p>\n<p><strong>Typical examples:<\/strong><\/p>\n<p>\u25aa<strong> Case 1:<\/strong> Issuers are usually put under the rating supervision if arising events such as refinancing, or developing<br \/>\nunusual business activities.<br \/>\n\u2022 Such ratings will be completed as soon as Saigon Ratings receives the necessary information and completes the<br \/>\nanalysis. The usual time is within 90 days, unless the review last longer than expected and are pending.<br \/>\n\u2022<strong> Case 2:<\/strong> Business may be placed under supervision if there is a decline in performance, until Saigon Ratings has<br \/>\ncompleted its analysis of the impact on the Rating, and usually within 90 days.<br \/>\n\u2022 <strong>Case 3<\/strong>: A group of transactions or transactions of an issuer may be placed under supervision if affected by changes<br \/>\nin the evaluation criteria.<\/p>\n<p>In cases where the Credit Watch is maintained for more than 90 days or when the event is significant or there is a<br \/>\nchange other than the expected trend, Saigon Ratings will provide temporary updates to assess the actual current<br \/>\nsituation of the business.<\/p>\n<p>In cases where ratings are placed on Credit Watch due to a deterioration in the effectiveness of assets or due to changes<br \/>\nin criteria and evaluation analysis in excess of 90 days, Saigon Ratings will announce the expected time frame for<br \/>\ncompleting the assessment of situation mentioned above.<br \/>\n\u2022 If Credit Watch is positive, the rating may be upgraded.<br \/>\n\u2022 If Credit Watch is negative, the rating may be downgraded.<br \/>\n\u2022 If Credit Watch is developing, the rating may be upgraded, downgraded or maintained.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"VI_CREDIT_UPDATE\"><\/span>VI. CREDIT UPDATE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After the business is monitored or included in Credit Watch, Saigon Ratings will issue a Credit notice Update to issuers<br \/>\nin the following cases<br \/>\n\u2022 Material events occur that affect the issuer&#8217;s current Rating and there is sufficient data to review the current Rating;<br \/>\nor<br \/>\n\u2022 Rated Issuer issues additional debt instruments; or<br \/>\n\u2022 The issuer rated issue additional debt; or<br \/>\n\u2022 The current Issuer Rating is cancelled.<br \/>\nIn the above cases, Saigon Ratings will announce that Credit Update will be &#8220;upgraded&#8221;, &#8220;degraded&#8221;, &#8220;reserved&#8221;, or<br \/>\n&#8220;cancelled&#8221;.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"VII_DISCONTINUE_RATING_AND_WITHDRAW_CREDIT_RATING\"><\/span>VII. DISCONTINUE RATING AND WITHDRAW CREDIT RATING<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If the rated entity fails to provide appropriate, accurate and sufficient information, Saigon Ratings will lack an objective<br \/>\nand reliable information to maintain rating surveilliance, and must discontinue ratings of issuers or issues.<br \/>\nIf the Rated organization does not cooperate effectively in providing the necessary, accurate, timely and complete<br \/>\nupdates, Saigon Ratings will not have a solid and objective database, in order to be able to continue to maintain and<br \/>\nimplement the Rating Monitoring process and operations on an annual basis.<br \/>\n<strong>Discontinue rating<\/strong><\/p>\n<p>Credit rating may not be updated continuously in the following cases:<\/p>\n<p>\u2022 The enterprise has paid off the financial obligations arising from the debt;<br \/>\n\u2022 Most of liabilities of the issuer are transferred to another party;<br \/>\n\u2022 The debt obligation terminates in accordance with the terms agreed upon by the related parties; and<br \/>\n\u2022 Other reasons.<\/p>\n<p><strong>Withdraw rating<\/strong><\/p>\n<p><strong>Saigon Ratings<\/strong> may unilaterally withdrraw the announced rating of corporates\/ issuers\/ issues in the following cases.<br \/>\n\u2022 At the request of the rated entity;<br \/>\n\u2022 The deadline for supervision and update of ratings is overdue;<br \/>\n\u2022 The rated entities do not provide sufficient information and do not cooperate with Saigon Ratings in rating<br \/>\nsurveillance;<br \/>\n\u2022 The enterprise does not fullfill the obligation of rating service fees payments according to the agreed contract.<br \/>\n\u2022 The surveillance of rating is not necessary, for example, the business is going bankrupt.<br \/>\nThe rating withdrawal will be reviewed and determined by Saigon Ratings Committee and can be performed at any time<br \/>\nwhen any of the above cases arise.<\/p>\n<div class=\"container section-title-container\" ><h3 class=\"section-title section-title-bold\"><span class=\"ez-toc-section\" id=\"CREDIT_RATING_DEFINITIONS_AND_TERMS\"><\/span><b><\/b><span class=\"section-title-main\" style=\"color:rgb(127, 127, 127);\">CREDIT RATING DEFINITIONS AND TERMS<\/span><b><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3><\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<div class=\"row\" id=\"row-531868333\">\n\n\t<div id=\"col-1407776602\" class=\"col small-12 large-12\" >\n\t\t\t\t<div class=\"col-inner text-center\" >\n\t\t\t\n\t\t\t\n\t<div id=\"text-116836561\" class=\"text hidden\">\n\t\t\n<a href=\"https:\/\/saigonratings.com\/wp-content\/uploads\/2022\/10\/LAMINATE-KINGDOM-TREND-COLLECTION.pdf\" class=\"pdfemb-viewer\" style=\"width:1000px;height:1000px;\" data-width=\"1000\" data-height=\"1000\" data-toolbar=\"top\" data-toolbar-fixed=\"on\">LAMINATE-KINGDOM-TREND-COLLECTION<\/a>\n\t\t\n<style>\n#text-116836561{\n 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&& FB3D_CLIENT_LOCALE.render && FB3D_CLIENT_LOCALE.render();<\/script>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<section style=\"max-width: 1280px; margin: 0 auto; font-family: Arial, sans-serif; line-height: 1.7; font-size: 17px; padding: 20px;\"><strong data-start=\"86\" data-end=\"180\">Thank you for following our article on \u201c<a href=\"https:\/\/saigonratings.com\/en\/credit-ratings-in-vietnam\/\">What is Credit Rating? Its Role and Significance.<\/a>\u201d<\/strong><br data-start=\"180\" data-end=\"183\" \/>If your business is seeking a credit rating to enhance financial transparency and attract investment, please contact us at <strong data-start=\"306\" data-end=\"331\"><a class=\"\" href=\"http:\/\/www.saigonratings.com\" target=\"_new\" rel=\"noopener\" data-start=\"308\" data-end=\"329\">www.saigonratings.com<\/a><\/strong> for detailed consultation.<\/p>\n<figure id=\"attachment_8299\" aria-describedby=\"caption-attachment-8299\" style=\"width: 350px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-8299\" src=\"https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/sgr1-350x400.jpg\" alt=\"CREDIT RATING\" width=\"350\" height=\"400\" srcset=\"https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/sgr1-350x400.jpg 350w, https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/sgr1.jpg 453w\" sizes=\"auto, (max-width: 350px) 100vw, 350px\" \/><figcaption id=\"caption-attachment-8299\" class=\"wp-caption-text\"><a href=\"https:\/\/saigonratings.com\/en\/\">Saigonratings<\/a><\/figcaption><\/figure>\n<h2 id=\"ember35\" class=\"ember-view org-top-card-summary__title punjPpsdqoPsmHQibNXmdAxUKMhEDMdUIGvI full-width \" title=\"SAI GON PHAT THINH RATINGS JOINT STOCK COMPANY - SAIGON RATINGS\"><span class=\"ez-toc-section\" id=\"SAI_GON_PHAT_THINH_RATINGS_JOINT_STOCK_COMPANY_%E2%80%93_SAIGON_RATINGS\"><\/span>SAI GON PHAT THINH RATINGS JOINT STOCK COMPANY \u2013 SAIGON RATINGS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span class=\"na-icon\"><strong>\u00a0Phone :<\/strong>\u00a0+<a href=\"tel:84 028 39 770 709\">84 (028) 39 770 709 \u2013 +84 (024) 6661 8899\u00a0<\/a><\/span>\u00a0<i class=\"fa-solid fa-headset\"><\/i><span class=\"na-icon\">\u00a0+84 (919) 714 928 .<\/span><\/p>\n<p><i class=\"fa-regular fa-envelope-open\"><\/i><span class=\"na-icon\"><strong>\u00a0Email :<\/strong>\u00a0info@saigonratings.com<\/span><\/p>\n<div class=\"contact-none\"><i class=\"fa-solid fa-location-dot\"><\/i><strong>\u00a0Add :<\/strong><a href=\"https:\/\/goo.gl\/maps\/vic6eakqtnyjEujj9\"><span class=\"nam-icon\">\u00a0Phat Thinh Building, 78-80 L\u00ea V\u0103n Thi\u00eam, Ph\u01b0\u1eddng T\u00e2n H\u01b0ng, Th\u00e0nh ph\u1ed1 H\u1ed3 Ch\u00ed Minh.\u00a0<\/span><\/a><\/div>\n<div class=\"contact-none\"><i class=\"fa-solid fa-location-dot\"><\/i><a href=\"https:\/\/goo.gl\/maps\/qBVEZBcjbJD9cNTT9\"><span class=\"nam-icon\"><strong>\u00a0Add :<\/strong>\u00a0T\u1ea7ng 16, ROX Tower, 54A Nguy\u1ec5n Ch\u00ed Thanh, Ph\u01b0\u1eddng L\u00e1ng, TP. H\u00e0 N\u1ed9i.<\/span><\/a><\/div>\n<\/section>\n<\/section>\n<\/p>","protected":false},"excerpt":{"rendered":"<p>Thank you for following our article on \u201cWhat is Credit Rating? Its Role and Significance.\u201dIf your business is seeking a credit rating to enhance financial transparency and attract investment, please contact us at www.saigonratings.com for detailed consultation. SAI GON PHAT THINH RATINGS JOINT STOCK COMPANY \u2013 SAIGON RATINGS \u00a0Phone :\u00a0+84 (028) 39 770 709 \u2013&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-transparent-header.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2801","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\n<title>Credit Rating in VietNam - SaigonRatings<\/title>\n<meta name=\"description\" content=\"What is credit rating? Its role and significance. This is the process of assessing the financial credibility of a company or a debt-issuing organization. The main purpose is to reflect the level of credit risk for lenders or investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Rating in VietNam - SaigonRatings\" \/>\n<meta property=\"og:description\" content=\"What is credit rating? Its role and significance. This is the process of assessing the financial credibility of a company or a debt-issuing organization. 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The main purpose is to reflect the level of credit risk for lenders or investors.","og_url":"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/","og_site_name":"Saigon Ratings","article_modified_time":"2026-05-09T09:42:41+00:00","og_image":[{"width":1280,"height":591,"url":"https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/SAIGON-RATINGS.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/","url":"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/","name":"Credit Rating in VietNam - SaigonRatings","isPartOf":{"@id":"https:\/\/saigonratings.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#primaryimage"},"image":{"@id":"https:\/\/saigonratings.com\/en\/credit-rating-in-vietnam\/#primaryimage"},"thumbnailUrl":"https:\/\/saigonratings.com\/wp-content\/uploads\/2025\/07\/SAIGON-RATINGS-800x369.jpg","datePublished":"2022-10-02T02:42:48+00:00","dateModified":"2026-05-09T09:42:41+00:00","description":"What is credit rating? 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