Thursday, May 30,2024 - 23:17 GMT+7  Việt Nam EngLish 

Fitch Ratings first international credit rating with GAS at “BB” 

 Saturday, March 18,2023

AsemconnectVietnam - Vietnam Gas Corporation - JSC (PV GAS, stock code GAS - HOSE) has just announced that Fitch Ratings - one of the top three credit rating agencies in the world has announced the international credit rating for the first time at “BB” level.

When giving the evaluation results, the rating organization Fitch Ratings gave an overview of PV GAS's development prospects for each production and business activity; the influence of the legal environment and stakeholders such as regulatory agencies, parent companies, important partners, etc.
GAS affirmed that the initial rating of "BB" with a positive outlook is a great advantage of PV GAS, creating trust for partners/banks, thereby supporting the Corporation's development process, especially the strategy of expanding operations to international markets.
The "BB" rating with a Positive outlook will also help PV GAS improve its ability to raise capital in the international market, diversify sources of capital mobilization for investment projects.
As for the Stand-alone Credit Profile, PV GAS is being rated at a higher level of “bb+”. PV GAS is evaluated as the only midstream gas distributor by pipeline, one of the first units eligible to trade in imported liquefied natural gas (LNG) and also a supplier. largest liquefied petroleum gas (LPG) – accounting for nearly 70% market share.
The corporation is also considered to be in a favorable position to benefit from the parent company's upstream expansion plan, which is the Vietnam Oil and Gas Group (PVN) to increase gas output.
PV GAS added that the rating work has been prepared and implemented by the Corporation for more than a year with the coordination from the consulting team of Mizuho Bank Ltd, Singapore Branch.
N.Nga
Source: VITIC/Tinnhanhchungkhoan

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