Economic integration implies the need for transparency in economic relations. Therefore, the use of credit sco...
Economic integration implies the need for transparency in economic relations. Therefore, the use of credit scoring tools for companies and also for countries has become popular.
There are 3 leading credit rating agencies in the world: Standard & Poors, Moody's and Fitch Ratings. In Vietnam, there are 2 credit rating agencies authorized to operate: Saigon Ratings and FiinRatings.
It is essential to determine an independent credit rating by a third party in order to provide reliable information and risk assessments to shareholders, partners, customers and investors. As a result, in recent years, the TTC and its member companies have been actively assessing the credit of their own businesses, in order to increase transparency and objectivity in terms of quality and operational efficiency.
AgriS and "vnA+" rating, "Stable" outlook
On June 12, 2023, Saigon Ratings announced the credit rating results of Thanh Thanh Cong Investment Joint Stock Company (TTCI) with a rating of "vnA+", outlook "Stable". This unit assesses that TTCI implements prudent financial policies and strictly controls the debt ratios of member companies.
TTCI's debt, interest repayment, cash surplus, access to loans and refinancing are maintained at a good level.
On July 20, 2023, TTC AgriS continues to raise an additional $100 million from the Taiwanese group of 9 financial institutions, in which First Commercial Bank (FCB) – Taiwan's 3rd largest bank acts as the lead bank.
TTC AgriS' "stable" outlook demonstrates its ability to maintain high revenue and EBITDA growth over the next 3 years. Profit margins are stable and tend to increase due to the growth of by-products after the road and next to the road. TTC AgriS' leverage, interest solvency (ICR) and ability to repay (DSCR) indices are improved and TTC AgriS' access to loans is improved and refinancing with domestic and foreign banks is maintained at a good level.
TTCIZ: "vnA" rating, "stable" outlook
On May 26, 2023, the Thanh Thanh Cong Industrial Park Joint Stock Company (TTCIZ) is classified at the "vnA" level, "stable" outlook.
From an analytical point of view, the "vnA" level, the "Stable" outlook is a positive rating from TTCIZ, and could reach a higher level if the financial market continues to be favorable.
GEC: "A-" rating, "stable" outlook
Gia Lai Electric Joint Stock Company (GEC; HOSE: GEG), the nuclear unit of TTC Energy, has started to move towards a green finance strategy over the past 2 years.
On July 31, 2023, FiinRatings – Vietnam's most prestigious credit rating agency currently technically backed by S&P Global Ratings and the Asian Development Bank (ADB) conducted the first long-term credit rating for GEC.
As a result, GEC received an "A-" rating with a "stable" investment grade outlook. GEC is the only company to have achieved the highest score in the list of non-financial (Non-FI) companies in Vietnam assessed by FiinRatings.
GEC's ratings reflect FiinRatings' assessment of good business performance and medium financial risk.
In particular, GEC's business capability is rated at a good level compared to companies operating in the renewable energy segment.
The "stable" credit rating outlook reflects FiinRatings' assessment of its ability to maintain operational efficiency as well as a significant addition to revenue when new projects come online amid stable growth in electricity demand in Vietnam.
Objective, thorough and comprehensive assessments from reputable organizations are one of the conditions for helping GEC to mobilize green capital from international organizations at attractive costs
With efforts to increase transparency and compliance, increase market capitalization, the TTC Group is constantly improving its governance-control-administration activities to get closer to international standards.
Earlier, on July 10, 2023, TTC and PwC signed a contract and launched a consultation project applying International Financial Reporting Standards (IFRS).
The application of IFRS is seen as an important strategic work of the TTC in enhancing and enhancing professionalism in all aspects of business operations, particularly in today's globalized environment
The highly reliable rating results obtained by independent valuators partly reflect the good financial health and reputation of the units in the Group's ecosystem. This helps TTC make informed strategic decisions and present a transparent picture to shareholders, partners, customers, and investors.
Recently, TTC celebrated the 44th anniversary of the group's founding (28.7.1979 - 28.7.2023), marking the journey of more than 4 decades of activity. It is an opportunity to look back on past achievements and conquer the future, resolutely on the path "For the community, local development".
Via Bao Dan Viet