EVNHANOI is rated by Fitch Ratings at BB with a positive outlook

29/09/2022 17:12:00 - views: 83

Hanoi Power Corporation has just been rated by Fitch Ratings (an international credit rating agency) in 2022 at "BB" with a positive outlook, equal to the credit rating of the parent company – Vietnam Electricity (EVN) and the national credit rating of Vietnam.

Illustration photo

During the period from May to September 2022, the international credit rating agency of Fitch Ratings rated the Hanoi Electricity Corporation (EVNHANOI).
 
According to Fitch Ratings, EVNHANOI has a close connection with the parent company EVN. Specifically, EVN has a profound influence on the business plans, profits and finances of EVNHANOI. EVN also approved the construction investment and budget plan of EVNHANOI as well as appointed key leadership positions.
 
Also according to Fitch Ratings, EVNHANOI's credit rating of BB is thanks to the corporation's position in the field of power distribution in Hanoi capital, with a diversified and stable customer network, with more than 57% of customers who are households and the high rate of electricity bill collection.
 
Fitch Ratings' credit rating results are an important foundation for EVNHANOI to step by step fully autonomous in mobilizing capital to finance future projects by optimizing capital structure and diversifying mobilization sources.
 
Thereby, EVNHANOI can expand funding sources by accessing international capital markets; At the same time, it will help EVNHANOI optimize its capital structure to match the nature of its assets, access the global debt capital market to issue long-term bonds, and diversify funding sources.
 
It is reported that when giving ratings, Fitch Ratings relies on the assessment of experts, including independent auditors of financial statements, lawyers on legal and taxation issues. Immediately after the publication of the rating results, Fitch Ratings will monitor and evaluate the results of the business year by year.
 
In 2020, EVNHANOI was also rated BB by Fitch Ratings.
Sounce: EVN

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