[Hanoi, 26 July 2022] - FiinRatings has announced it has entered a Technical Collaboration Partnership (“Partnership”) with S&P Global Ratings, the world's leading credit rating agency. The two parties officially signed a Cooperation Agreement at FiinGroup’s Head Office in Hanoi.
The Partnership includes the support and technology transfer of analytical expertise, and commercial and compliance operations from S&P Global Ratings to FiinRatings. Specifically, S&P Global Ratings will implement phase 2 of the technical assistance project not only to assist in the credit rating processes of financial institutions and non-financial industries in Vietnam but also in the commercial and compliance aspects toward international standards and practices.
“S&P has entered into a technical training agreement with FiinRatings since 2021 and we have rated 9 bond issuers in Vietnam. Through professional cooperation and technology transfer from the world's leading credit ratings agency, FiinRatings will continue to refine our expertise, enhance our capacity to meet the increasing credit rating demand in Vietnam, and better support the sustainable and healthy development of Vietnam’s capital market, specifically the corporate bond market," said Mr. Nguyen Quang Thuan, CEO of FiinRatings.
“We are excited to expand our relationship with FiinRatings. Through this agreement with FiinGroup, we look forward to further strengthening credit rating standards in Vietnam, while also deepening our commitment to capital markets in one of the world’s fastest-growing regions,” said Matthew Batrouney, Head of S&P Global Ratings for South & Southeast Asia.
FiinRatings, a brand, and part of FiinGroup, was licensed by the Ministry of Finance to operate as a Credit Rating Agency for Vietnam. The license was awarded on 20 March 2020 to FiinGroup under Decree 88/2014/ND-CP dated 26 September 2014 governing Credit Rating Agency services. In May 2021, FiinRatings entered into an agreement with S&P Global Ratings and Asian Development Bank (ADB) to receive Technical Assistance in various aspects of CRA practice and development.
Prior to expanding in credit rating services, FiinGroup is well known in Vietnam as an independent information provider in the country with financial information terminals, business information portals, and market research to support foreign and local institutional investors and foreign trading partners to Vietnamese enterprises. For more information, visit https://www.fiingroup.vn/FiinRatings
About S&P Global Ratings
S&P Global Ratings is the world's leading provider of independent credit ratings. Its ratings are essential to driving growth, providing transparency, and helping educate market participants so they can make decisions with confidence. S&P Global Ratings has more than 1 million credit ratings outstanding on government, corporate, financial sector, and structured finance entities and securities. It offers an independent view of the market built on a unique combination of broad perspective and local insight. S&P Global Ratings provides its opinions and research about relative credit risk; market participants gain independent information to help support the growth of transparent, liquid debt markets worldwide.
S&P Global Ratings is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/ratings.