Vietnam: A credit rating agency shall disclose on its website once every 06 months

According to Article 36 of the Decree No. 88/2014/NĐ-CP of Vietnam’s Government, a credit rating agency shall disclose on its website the following basic information:

- Name of its general director or director;

- Code of conduct prescribed in Article 34 of this Decree;

- Credit rating method prescribed in Article 32 of this Decree;

- Credit rating grade prescribed in Article 33 of this Decree;

- List and capital contribution portions of shareholders or capital-contributing members that hold over 5% of its paid-up charter capital;

- Change in the rate of holding by shareholders or capital-contributing members that hold over 5% of its paid-up charter capital;

- Report on credit rating results prescribed in Article 35 for each credit rating contract.

Concurrently, once every six (6) months, a credit rating agency shall disclose on its website the following basic statistics:

- Credit rating grade of each rated organization since the first credit rating;

- Average percentage of rated organizations honoring their debt obligations in each rating grade.

Before May 1 every year, a credit rating agency shall disclose on its website a list of rated organizations with a credit rating service charge accounting for over 5% of its total turnover from credit rating activities in the fiscal year prior to the time of information disclosure.

Note: Information specified in Clauses 1, 2 and 3 of this Article shall be maintained and archived on the websites of credit rating agencies within five (5) years after it is disclosed.

View more details at the Decree No. 88/2014/NĐ-CP of Vietnam’s Government, effective from November 15, 2014.

Ty Na

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