EVNHANOI receives 'Positive' credit rating from Fitch Ratings

September 28, 2023 10:08 PM PV Print article

ANTD.VN - Hanoi Electricity Corporation (EVNHANOI) has just been given a credit rating of "BB/Positive" for 2023 by international credit rating organization Fitch Ratings, equal to the credit rating of parent company EVN and the national rating.

From June to September 2023, international credit rating organization Fitch evaluated EVNHANOI.

According to Fitch Ratings, EVNHANOI is rated BB due to the corporation's position in the electricity distribution sector in the capital Hanoi, with a diverse and stable customer network, with more than 56% of customers being households and a high electricity bill collection rate.

According to Fitch, EVNHANOI is one of five distribution corporations under EVN. Fitch credit rating agency assesses that EVN has a profound impact on EVNHANOI's business, profit and financial plans. EVN also approves EVNHANOI's production, business, financial and construction investment plans as well as appoints key leadership positions.

This is the fourth year EVNHANOI has achieved good results when working with credit rating organization Fitch.

The credit rating results are an important milestone in 2023 for the Corporation. This is a solid foundation for the Corporation to gradually become fully autonomous in mobilizing capital to finance future projects through more diverse sources, including international capital markets and long-term bond issuance.

Fitch Ratings is an international credit rating agency with offices in New York, London, Singapore and is one of the three leading credit rating agencies in the world, along with Moody's and Standard & Poor's. Fitch Ratings rates based on factors such as the type of debt a company holds and its sensitivity to systemic changes in interest rates, the business environment, laws, government support, etc.

Source link: https://www.anninhthudo.vn/evnhanoi-duoc-fitch-ratings-xep-hang-tin-nhiem-tich-cuc-post553120.antd