CIC Announces Credit Ratings on Vietnam's Listed Firms

Credit Information Center, or CIC, under the State Bank of Vietnam, has announced credit ratings on listed companies on Vietnam’s stock market.

 

This is the first time the listed firms have been given credit ratings.

 

Dao Quang Thong, deputy detector of CIC, said since Vietnam’s stock market came into operation in July 2000, information about listed companies have been announced publicly.

 

However, there is still not a common standard to analyzing them.

 

“Therefore, credit rating is necessary,” he said. It will provide transparent information about financials and other activities of listed companies, in order to help investors, securities companies, investment funds, and other organizations to know heath of companies before making investment decisions.

 

CII covers all companies listed in Ho Chi Minh City and Hanoi stock exchanges, he said.

 

CIC has earlier made credit ratings on more than 19,000 businesses with analyzing and rating methods recognized by international institutions such as World Bank, ADB and IMF. (VnEconomy)