Saigon Ratings provides professional credit rating services and other services for corporations, ensuring compliance with the practices and standards of the international Credit Rating Agency (CRA) and Vietnam regulations.


Saigon Ratings’ credit rating service provides independent assessments and forecasts about the credit risk of an entity in the economic sectors or a debt instrument. These assessments demonstrate the ability and readiness of a business entity to meet financial commitments as well as the credit quality of an individual debt.

Credit Rating are often divided into two basic types: Issuer Credit Rating and Issue Credit Rating.

Saigon Ratings performs Issuer credit rating, including corporate and financial institutions; Issue rating including bond and bank loans.


1. Issuer/Corporate credit rating

Corporate credit rating (issuer) reflects the independent and objective assessment of Saigon Ratings on the overall credit risk of the issuer. Corporate credit rating may be exercised not only for the purpose of issuing debt instruments in the domestic market, but also for other purposes in business operations.

A rated enterprise can choose the rating type of publishing (on the website of Saigon Ratings) or type of confidential rating.


2. Issuer rating for financial institutions

Financial institutions credit rating represents Saigon Ratings’s independent assessment of the overall credit risk of a financial institution, including commercial banks and other financial institutions operating in the market (insurance companies, securities companies, finance companies, investment funds, …). The credit opinion focuses on an ability and readiness to meet its financial commitments. Financial institution credit ratings are performed by analyzing and assessing aspects of macro risks, industry risks, business and financial risks.


3. Issue rating

We perform long-term and short-term issue credit ratings which include loan, bond, and other debt instruments.

Issue credit rating is an assessment of the credibility of the obligor for a particular financial obligation or a financial instrument. An opinion reflects our view of an obligor’s ability and willingness to meet financial commitments. Issue credit rating integrates the assessment of the terms of commitments, collateral and other factors (such as the rating of the guarantor or other forms of credit guarantees of obligations) which may affect debt recovery in case of default.

Short-term issue ratings are typically assigned to short-term debt instruments (equal to or less than 12 months). The short-term issue rating is also used to assess the credibility of the obligor for the exercise of a put option with a term of less than 1 year.


4. Project finance rating

Project finance rating is a type of debt instrument rating. Different debt instruments in the same project may be analyzed and evaluated by Saigon Ratings into different ratings. Project finance ratings are often used to fund projects involving long-term infrastructure and electrical power. Project finance involves increasing debt and equity to finance a project, the resulting cash flow is paid back to the loan sponsors for project implementation. The analysis of Saigon Ratings on project transactions includes construction risk assessment, contract legal risk, operational risk, counterparty risk, and risk of structured financial projections judgment.