S&P Global Ratings and FiinRatings meet leaders of the State Securities Commission of Vietnam
On 27th July 2022, a meeting among the representatives of the State Securities Commission (“SSC”), S&P Global Ratings, and FiinRatings was successfully organized at the headquarter of the State Securities Commission.
On 27th July 2022, a meeting among the representatives of the State Securities Commission (“SSC”), S&P Global Ratings, and FiinRatings was successfully organized at the headquarter of the State Securities Commission. Mr. Pham Hong Son, Vice Chairman presided over the meeting, and participants included:
- State Securities Commission: Mr. Le Cong Dien, Deputy Director of The Public Company Supervision Department; Ms. Pham Thi Thuy Linh, Deputy Director of The Securities Market Development Department; Mr. Nguyen Hoang An, Deputy Director of The International Cooperation Department.
- S&P Global Ratings: Ms. Elena Okorochenko, Managing Director and Head of Asia-Pacific; Mr. Matthew Batrouney, Managing Director - Head of South & Southeast Asia.
- FiinRatings: Mr. Nguyen Quang Thuan, CEO; Mr. Nguyen Huu Hieu, Vice Chairman; Mr. Paul Coughlin, Chairman of the Credit Rating Committee; Ms. Prachi Gupta, Analytical Advisor, Financial Institutions Ratings, FiinRatings.
In this meeting, the parties discussed the topics related to the potential and challenges of Vietnam’s corporate bond market, the development of the domestic credit rating sector as well as proposals for effective cooperation and information exchange, thereby promoting the development of corporate bonds and the domestic credit rating.
Mr. Pham Hong Son, Vice Chairman highly appreciated the Technical Collaboration Partnership between FiinRatings and S&P Global Ratings and emphasized that SSC always supported and encouraged the information sharing and professional support between S&P Global Ratings and the domestic credit rating agency as FiinRatings. He expected that the collaboration would continue to be put into practice and contribute greatly to the general development of the stock market and the corporate bond market.
On behalf of S&P Global Ratings, Ms. Elena Okorochenko expressed her gratitude for the support and encouragement of the Vietnam Government and the State Securities Commission; she also emphasized S&P's commitment to supporting financial market development and cooperation with FiinRatings. Ms. Elena Okorochenko was deeply impressed by the efforts and professional activities of FiinRatings and expected more strategic partnership activities in the time to come.
Mr. Nguyen Quang Thuan, FiinRatings’ CEO also offered thanks for the support from the SSC and formulated several proposals to strengthen the effective cooperation of S&P Global Ratings and FiinRatings, such as developing a manual for bond evaluation and analysis, building a comprehensive portal on Vietnam corporate bonds, and implementing effective training programs for the market to contribute to the sustainable development of Vietnam capital market.
The meeting concluded with various activities and proposals discussed and agreed upon. As a leading credit rating agency in Vietnam, FiinRatings strongly believed that the great efforts in cooperation with international organizations as well as the trust and support from the Ministry of Finance would motivate domestic credit rating agencies like FiinRatings to improve their service quality, thereby contributing to the sustainable development of Vietnam's capital market.
FiinRatings, a brand, and part of FiinGroup, was licensed by the Ministry of Finance to operate as a Credit Rating Agency for Vietnam. The license was awarded on 20th March 2020 to FiinGroup under Decree 88/2014/ND-CP dated 26th September 2014 governing Credit Rating Agency services. In May 2021, FiinRatings entered into an agreement with S&P Global Ratings and Asian Development Bank (ADB) to receive Technical Assistance in various aspects of CRA practice and development.
Prior to expanding in credit rating services, FiinGroup is well known in Vietnam as an independent information provider in the country with financial information terminals, business information portals, and market research to support foreign and local institutional investors and foreign trading partners to Vietnamese enterprises. For more information, visit https://www.fiingroup.vn/FiinRatings
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