May 17, 2022

FiinRatings officially announced the successful application for ADB’s rating subsidy program and now able to offer up to US$20,000 fee reduction for first-time issuer ratings upon rating results announced to the public.

This rating subsidy scheme is implemented under an agreement between FiinGroup JSC and Asian Development Bank (“ADB”) under the KSTA 6734-VIE: Public–Private Partnerships, Private Sector Development, and State-Owned Enterprise Reform which has been approved by the Government of Vietnam with funding from Government of Australia’s Department of Foreign Affairs and Trade.

Details of the scheme are as follows:

• Eligible issuers: any issuers who entered into rating agreement with FiinRatings for first-time issuer ratings.
• Terms and conditions: (i) the rating results must be announced to the public by FiinRatings; (ii) must complete the rating with FiinRatings before the ratee issues a rating via another domestic CRA, (iii) must complete the rating before funding under the subsidy program is exhausted.
• Financial support scheme: The scheme aims to facilitate a minimum of 25 issuers to be rated and will cover up to US$20,000 of an issuer’s first-time initial ratings in form of rating fee reduction or refund by FiinRatings. After the 10th rating, ADB will review the initiative’s progress and intends to reduce the rate to $15,000 for the 11th through 20th ratings with further revisions possible for any final ratings.
• Applicable period: from 20 May 2022 to 31 December 2022.

Contact us for further information:

Ms. Ba Thu Hue, Senior Client Advisor

Email: hue.ba@fiingroup.vn

Tel: +84 24 3562 6962