FiinRatings Assigns Initial “AA-” Rating with a “Stable” Outlook to TCBS.

FiinRatings, a strategic partner of S&P Global Ratings, is honored to announce the first long-term issuer credit rating for Techcom Securities JSC (“TCBS” or “the Company”) at “AA-” with a “Stable” outlook on June 4th, 2025.

FiinRatings, a strategic partner of S&P Global Ratings, is honored to announce the first long-term issuer credit rating for Techcom Securities JSC (“TCBS” or “the Company”) at “AA-” with a “Stable” outlook on June 4, 2025.  

This credit rating result reflects FiinRatings’ assessment of the macroeconomic context, the outlook for the capital market, and the securities sector in general. It also considers TCBS’s business position, capital structure and leverage, profitability, and liquidity—among other factors—using FiinRatings’ standard credit rating methodology and criteria. 

Previously, FiinRatings had issued initial credit ratings for six securities companies, making TCBS the seventh. Currently, besides TCBS, FiinRatings is maintaining and updating credit ratings for Tien Phong Securities Corporation (TPS), Petrovietnam Securities Incorporated (PSI), and VPS Securities JSC (VPS). Additionally, since November 2023, we have conducted and now maintain surveillance for TCBS’s parent bank, Technological and Commercial Joint Stock Bank (Techcombank). While doing the assessment, the relationship between TCBS and Techcombank was also partly factored into the credit rating result. 

Securities companies are actively raising capital to meet the development and growth demand of the industry. According to FiinGroup, in the first five months of the year, the primary market saw securities companies issue a total of VND 6,800 trillion. 

For a detailed read of FiinRatings' Credit Rating Announcement on TCBS, click HERE. 

Disclaimer: Credit-related and other analyses, including ratings, and statements in the Content are statements of opinion as of the date they are expressed and not statements of fact. FiinRatings’ opinions, analyses, and rating acknowledgment decisions are not recommendations to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security. 

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