{"id":9883,"date":"2025-09-26T23:04:41","date_gmt":"2025-09-26T16:04:41","guid":{"rendered":"https:\/\/saigonratings.com\/?p=9883"},"modified":"2025-10-10T16:26:39","modified_gmt":"2025-10-10T09:26:39","slug":"rating-result-thu_thua-2025","status":"publish","type":"post","link":"https:\/\/saigonratings.com\/en\/rating-result-thu_thua-2025\/","title":{"rendered":"RATING RESULT OF THU THUA INDUSTRIAL ZONE &#038; URBAN DEVELOPMENT JSC FOR 2025"},"content":{"rendered":"<p>* CREDIT RATING OPINION (first-time): <strong><em>vnBBB<\/em><\/strong><\/p>\n<p>* OUTLOOK: <strong><em>Stable<\/em><\/strong><\/p>\n<p>* DATE OF RATING CERTIFICATION ISSUANCE: <em><strong>September 26, 2025<\/strong><\/em><\/p>\n<p>* BUSINESS LINE: <em><strong>Real Estate Rental<\/strong><\/em><\/p>\n<p>* RATING COMMITTEE:<\/p>\n<p>Mr. Bui Van Long, MSc<\/p>\n<p>Mr. Le Hoang Quan, MBA<\/p>\n<p>Ms. Bui Thu Huong, MBA, CFA<\/p>\n<p>* ANALYSTS:<\/p>\n<p>Mr. Nguyen Duc Phu, MSc<\/p>\n<p>Ms. Diep Ngoc Yen, MSc<\/p>\n<p>* INFORMATION OF INTEREST CONFLICT<\/p>\n<p>\u2013 Saigon Ratings\u2019 share ownership in Thu Thua Industrial Zone and Urban Development JSC: None<\/p>\n<p>\u2013 Saigon Ratings\u2019 bond ownership in Thu Thua Industrial Zone and Urban Development JSC: None<\/p>\n<p>\u2013 Saigon Ratings\u2019 other debt instrument ownership in Thu Thua Industrial Zone and Urban Development JSC: None<\/p>\n<p>\u2013 Saigon Ratings employees\u2019 share ownership in Thu Thua Industrial Zone and Urban Development JSC: None<\/p>\n<p>Saigon Ratings is committed to the independent and objective implementation of credit ratings.<\/p>\n<p>Saigon Ratings issued a credit rating report as reference information; it is not an investment or capital contribution recommendation for debt instruments issued by the rated company (Thu Thua Industrial Zone and Urban Development JSC).<\/p>\n<div class=\"_3d-flip-book fb3d-fullscreen-mode full-size\" data-id=\"9927\" data-mode=\"fullscreen\" data-title=\"false\" data-template=\"short-white-book-view\" data-lightbox=\"dark-shadow\" data-urlparam=\"fb3d-page\" data-page-n=\"0\" data-pdf=\"\" data-tax=\"null\" data-thumbnail=\"\" data-cols=\"3\" data-book-template=\"default\" data-trigger=\"\"><\/div><script type=\"text\/javascript\">window.FB3D_CLIENT_DATA = window.FB3D_CLIENT_DATA || [];FB3D_CLIENT_DATA.push('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');window.FB3D_CLIENT_LOCALE && FB3D_CLIENT_LOCALE.render && FB3D_CLIENT_LOCALE.render();<\/script>\n","protected":false},"excerpt":{"rendered":"<p>* CREDIT RATING OPINION (first-time): vnBBB * OUTLOOK: Stable * DATE OF RATING CERTIFICATION ISSUANCE: September 26, 2025 * BUSINESS LINE: Real Estate Rental * RATING COMMITTEE: Mr. Bui Van Long, MSc Mr. Le Hoang Quan, MBA Ms. Bui Thu Huong, MBA, CFA * ANALYSTS: Mr. Nguyen Duc Phu, MSc Ms. Diep Ngoc Yen, MSc&#8230;<\/p>\n","protected":false},"author":5,"featured_media":2603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[123,122],"tags":[],"class_list":["post-9883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rating-details","category-rating-results"],"acf":[],"yoast_head":"\n<title>RATING RESULT OF THU THUA INDUSTRIAL ZONE &amp; 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