[Hanoi, 16 August] FiinRatings would like to announce that it has assigned its BB long-term Issuer Credit Rating to Bamboo Capital Joint Stock Company (“BCG”) with the outlook: Positive.
The positive outlook on BCG reflects the potential growth prospect of an emerging developer in energy and property segments in the medium and long term. The outlook also highlights FiinRatings’ expectation that the Company’s financial flexibility will be improved since renewable energy projects and properties development started delivering cash flow. Nevertheless, the Rating outcome has also incorporated the worsening economic conditions and potential regulatory changes which BCG could face in its major business segments in the next 12-18 months as a result of the pandemic.
This rating is the first Issuer Credit Rating (ICR) for BCG. An ICR reflects our view of the credit rating of an issuer and is not specific to any debt instrument that it may issue. The rating scale used by FiinRatings is the national scale; therefore, it must not be equated with or represented as a rating on the scale used by any other rating agency. It should be highlighted that the ratings follow our well-built methodologies that apply specifically to Vietnam financial market and business conditions, thus not equivalent to the international scales. Our rating methodology and criteria have been established with considerable support from global experts, approved by the Ministry of Finance, and published on the FiinRatings website.
Details of the rating announcement are HERE
Since being officially licensed on March 20th, 2020, FiinRatings continuously improves its expertise and credit rating methodologies with Technical Assistance from S&P Global and Asian Development Bank. FiinRatings is a division of FiinGroup Joint Stock Company specializing in credit rating services. FiinRatings keeps certain activities of its business units separate from each other to preserve the independence and objectivity of their respective activities. We believe that the rating results will gradually support each market participant in obtaining standardized information and contribute to the transparency and development of the capital market in Vietnam.
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