|
Listed firms earn high credit ratings
About 10.8 per cent of the 471 firms listed on national stock exchanges scored a highest credit rating, following the first-year publication of a report by the Credit Rating of Viet Nam Company.
The credit rating of listed firms is part of the 2010 Viet Nam creditworthiness report, which the company wrote in conjunction with the President's Office and lecturers from the National Economics University and Academy of Finance. The report is expected to be published annually from 2010.
"We based our report on financial data from 2009, in order to provide companies and other interested parties with a reference on corporate performance for investment and other purposes," said Tran Dinh Tuan, a member of the rating board.
Tuan said the formula for the ratings was based on criteria such as total borrowing, working capital, total assets, and post-tax profit.
The ratings showed that 25 HCM City-listed firms rated ‘AAA' [excellent credit performance] while there were 26 in Ha Noi.
A number of 399 companies earned a rating of ‘B' to ‘AA' [good to average credit performance] while 21 earned ‘C' to ‘CCC' [average to poor credit performance], which was considered a positive result given the 2008 economic crisis.
Firms from the industrial services and goods sector scored best with 14 ‘AAA'-rated companies followed by the food and drink sector with seven and the property sector with five.
In August, the State Bank's Credit Information Centre published a 2010 creditworthiness report for listed companies, of which 165 of the 539 achieved the highest ranking. The ratings system was developed by Dun & Bradstreet, a provider of international business credit information and reports.
vietnamnews
|
