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.
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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.
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- Fitch Ratings is an international credit rating agency with office addresses in New York, London and Singapore.
- This is one of the top three global credit rating agencies besides Moody's and Standard & Poor's.
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