Find solutions to develop credit rating services

Domestic and foreign financial experts provide information related to credit rating activities such as methods, implementation processes, roles and factors affecting corporate credit rating, strength action up investment decisions …

Mr. Nguyen Hoang Duong – Deputy Director of Finance Department of Banks and Financial Institutions (Ministry of Finance) gave opening speech at the conference. Photo Do Doan

April 16 in the city. Ho Chi Minh, the Ministry of Finance cooperates with the Asian Development Bank to hold a Conference on Development of credit rating activities in Vietnam. The event is part of a series of conferences of the Ministry of Finance to disseminate, train and provide information to businesses (DN), investors (investors), and participants in the financial market about rating activities. credibility in Vietnam.

Credit rating plays an important role in the development of the financial market in general and the bond market in particular. Through the determination of the credit rating, investors have more information to evaluate the financial ability, solvency of the creditors, of the financial products rated by credit, as well as the risks involved.

Speaking at the opening of the conference, Mr. Nguyen Hoang Duong – Deputy Director of Finance Department of Banks and Financial Institutions (Ministry of Finance) said, to develop credit rating activities in Vietnam, Ministry of Finance submitted to the Government for promulgation Decree No. 88/2014 / ND-CP on credit rating services, which fully regulates the contents of organization, operation, service provision, and information disclosure of the organization. credit rating organization.

Enterprises discuss with international financial experts about credit rating services. Photo: Do ​​Doan

The Securities Law 2019 and guiding documents have specific provisions on cases where enterprises issue bonds to the public must be rated with credit ratings and implementation roadmap, and at the same time encourage businesses to issue bonds. Private corporate bonds (corporate bonds) use this service to enhance the publicity and transparency of the corporate bond market.

“The Ministry of Finance is also studying to associate the regulations on credit rating results with regulations on classification and investment criteria for some particular financial institutions or using credit rating results. when calculating the indicators of capital safety and assets of organizations in the financial market “- Mr. Nguyen Hoang Duong said.

At the conference, experts from the Australian Securities and Investments Commission, international rating organizations S&P, Moody’s and the credit rating agency Fiin of Vietnam presented about the role of the rating agency. credit rating in the financial market, credit rating methods and processes, factors affecting the credit rating of enterprises, the contents to be noted to improve ratings and the impact of results. credit rating results for decisions of investors.

In general, the contents of the conference are intended to provide full information on the development of credit rating activities in Vietnam and to raise market awareness about this activity.

It is known that, according to Decision No. 570 / QD-TTg dated April 17, 2015 of the Prime Minister approving the Plan for development of credit rating services to 2020 and a vision to 2030, the Ministry of Finance will see review and grant certificates of eligibility for business in credit rating services for up to 5 enterprises.

Up to now, 2 Vietnamese enterprises have been granted business eligibility certificates and are providing credit rating services in the market. The Ministry of Finance has also received a request for attention from a number of reputable international credit rating organizations and will consider and appraise it in accordance with the law./.