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Credit centre rates 539 listed firms
The Credit Information Centre on Wednesday published its 2010 credit ratings of the nation's listed firms, with 165 of the 539 companies scoring the highest ranking, an increase of 46 per cent over 2009.
The ratings system was developed by the centre and global firm Dun & Bradstreet.
The number of listed firms rated average in terms of creditworthiness increased to 15, which was blamed on the impact of the global debt crisis, said Credit Information Centre Deputy Director Nguyen Huu Duong.
Companies earning the average level in 2009 was only 9, he said.
Listed firms in HCM City posted better creditworthiness than those in Ha Noi, with companies in the rubber and paper industries earning the highest ratings, followed by consumer goods and manufacturing enterprises, Duong added.
Credit Information Centre Director Pham Cong Uan said the ratings would improve market transparency and provide investors with a useful basis for evaluating their investments.
Viet Nam Association of Securities Businesses General Secretary Nguyen Thanh Ky said quality and timely information was decisive to every investment decision in the stock market.
Nicholas Teoh, Vice President of Dun & Bradstreet's Asia Pacific Partnerships, said Dun & Bradstreet would invest US$110-130 million to improve access to this information online over the next three years.
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