FiinGroup – Proudly Advancing Strategic Partnerships with S&P Global Ratings

On February 26th, Prime Minister Pham Minh Chinh met with Ms. Lynn Maxwell, Global Commercial CEO of S&P Global Ratings, to discuss strategies for developing and mobilizing capital for the infrastructure sector, advancing the capital market, and the goal of elevating Vietnam’s sovereign credit rating to Investment Grade BBB‑ (as per S&P and Fitch) by 2030. 

The Prime Minister’s focus on implementing the National Credit Rating Improvement Project until 2030 reaffirms the critical role of credit rating activities in achieving Vietnam’s major objectives for developing the capital market, which in turn supports sustainable economic growth. 

Notably, this meeting took place after S&P Global Ratings recently signed a strategic cooperation agreement to purchase a stake from FiinGroup and become a major shareholder in FiinRatings—our leading credit rating subsidiary. The meeting, attended by Mr. Nguyen Quang Thuan, Chairman of FiinGroup and CEO of FiinRatings, further confirmed FiinGroup’s key role in contributing to national objectives through a strategic partnership with S&P Global Ratings, one of the top three most reputable credit rating agencies in the world. 

In an interview with VTV, Mr. Thuan stated: "The investment by a corporation like S&P Global, with a market capitalization of USD 170 billion on the New York Stock Exchange, in FiinRatings not only demonstrates their confidence in the credit rating industry but also confirms their belief in Vietnam’s economic prospects, especially in the capital market. I hope this will encourage investors in the stock and bond markets to view Vietnam more positively." 

At the "Vietnam Credit Spotlight 2025" conference, co-hosted by S&P Global Ratings and FiinRatings, Ms. Lynn Maxwell also shared that S&P’s origins—sharing many commonalities with FiinGroup—lie in providing transparent information to enable investors to assess the opportunities and risks, as demonstrated by their early work in the U.S. railway infrastructure 150 years ago. With this collaboration, S&P’s global expertise and resources will greatly support Vietnam’s infrastructure development in line with the government’s vision. 

Raising the sovereign credit rating to Investment Grade will significantly enhance the ability to mobilize capital and reduce borrowing costs for both the government and local authorities, as well as lower interest rates on foreign loans for domestic private enterprises. By establishing a strategic partnership with S&P Global Ratings, FiinGroup will continue to strengthen its capabilities as a leading integrated service provider of financial data, business information, industry research, credit rating reports and other data-driven analytics services, supporting the development of Vietnam’s financial sector and capital market.