S&P Global Ratings strengthens partnership with Vietnam’s FiinRatings with Equity Investment

HANOI, February 25, 2025 – S&P Global Ratings, the world’s leading provider of independent credit ratings, today announced that S&P Global Inc. has agreed to acquire a 43.4% minority shareholding in Vietnam’s leading credit rating, FiinRatings.  

The transaction between FiinGroup (the parent company of FiinRatings) and S&P Global (the parent company of S&P Global Ratings) is subject to Vietnamese government approvals. 

S&P Global’s investment extends a long-standing partnership between the two companies and significantly increases their commitment to strengthening credit-rating standards and efficient and liquid debt capital markets in one of the world’s fastest-growing emerging nations. 

“We are thrilled to deepen our presence in Vietnam through this equity investment in FiinRatings, our trusted partner for years in Vietnam,” said Lynn Maxwell, Global Chief Commercial Officer at S&P Global Ratings. “We look forward to working closer with FiinRatings and leveraging their deep local market insights to better serve our customers and investors in Vietnam and beyond.”  

S&P Global Ratings has been associated with FiinRatings since 2020, with the relationship expanding in June 2022 when FiinRatings became a Technical Collaboration Partner of S&P Global. As collaboration partners, the two companies have organised joint seminars, and S&P Global Ratings has provided FiinRatings analyst training in various areas of CRA operation and analytical process enhancements. Going forward, this collaboration will expand further, with both parties committed to collaboration on knowledge transfer, product development, branding, sales, events, marketing, analytical cooperation, and exchange of best practices. 

Mr. Nguyen Quang Thuan, Chairman and CEO of FiinRatings, said: “We are excited to expand our partnership with S&P Global Ratings. Their extensive global expertise and resources will enhance our ability to meet the evolving needs of enterprises and investors, thereby delivering greater value to Vietnam’s growing capital markets. At the same time, S&P Global Ratings can leverage our deep local insights and understanding of the Vietnamese market.” 

On Feb. 27, 2025, the two companies are jointly hosting an in-person market seminar in Hanoi, focused on Vietnam and canvassing the topic of Growth, Credit, And Capital Markets In A New Era. 

The parties expect the investment transaction to close in the second quarter of 2025. 

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ABOUT S&P GLOBAL RATINGS 

S&P Global Ratings is the world's leading provider of independent credit ratings, crucial for driving growth, ensuring transparency, and helping market participants make informed decisions. We maintain over 1 million credit ratings on governments, corporations, financial sectors, and securities. Our unique blend of broad perspective and local insights allows us to offer an independent view of the market, supporting the development of transparent and liquid debt markets worldwide. S&P Global Ratings is a division of S&P Global (NYSE: SPGI), delivering essential intelligence for informed decision-making. For more information, visit www.spglobal.com/ratings. 

View the full press release from S&P Global about this collaboration: HERE

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About FiinRatings 
FiinRatings, a member of FiinGroup and technical partner of S&P Global Ratings, is a licensed credit rating agency under Vietnam’s Ministry of Finance. Our services include credit ratings, green bond verification, and independent evaluations (Second Party Opinion - SPO), catering to issuers, lenders, and investors across diverse sectors in Vietnam. 

FiinRatings’ SPO services provide independent evaluations of financial instruments, policy frameworks, or transactions aligned with principles set by global institutions like the International Capital Market Association (ICMA) and the Climate Bonds Initiative (CBI). Notably, FiinRatings is the first approved verifier for CBI Climate Bond Standards in Vietnam.