Fitch Ratings affirms EVNCPC at 'BB', positive outlook

Fitch Ratings - the world's leading credit rating agency has just announced the international credit rating for Central Power Corporation (EVNCPC) at 'BB' - a positive outlook in the assessment period 2020 - 2022.

EVNCPC's SCP (Standalone Credit Profile) independent rating score is "BB - positive", rated at the same level as the parent company of Vietnam Electricity because EVN has a greatly important and influential role to EVNCPC in terms of strategy, production, business, and finance. The SCP rating score reflects the stable operation record of EVNCPC, as a power distribution corporation in the Central-Central Highlands region of Vietnam.

The "BB" rating of Fitch Ratings reflects the positive results of EVNCPC's production and business efficiency improvement in the assessment period 2020 - 2022. This is a period when EVN's member units have faced many difficulties. due to the impact of the COVID-19 epidemic, financial balance challenges when output and revenue decrease while input costs increase.

In that general context, EVNCPC has made efforts to achieve many positive results: Commercial power output in 2021 reached 20,329.12 million kWh, an increase of 6.33% compared to 2020 (19,118.75 million kWh); revenue of VND 38,358.7 billion, up 8.72% over the same period. In 2022, commercial electricity output reached 21,476.2 million kWh, an increase of 5.64% compared to 2021, and revenue reached VND 41,627.3 billion, an increase of 8.52% over the same period.

EVNCPC supplies adequate electricity with increasing reliability

The targets of power supply reliability and power loss reduction are also well performed by EVNCPC. By 2022, the SAIFI index (System Average Interruption Frequency Index), and MAIFI index (Momentary Average Interruption Frequency Index) have decreased to 2.13 and 0.69 times/customers respectively; the SAIDI index (System Average Interruption Duration Index) decreased to 218.4 minutes/customer. Power loss has been reduced to 4%.

In addition, EVNCPC has made great efforts in business and customer service, especially in applying e-invoices and promoting non-cash payment channels.

The financial indicators are evaluated positively, and EVNCPC ensures effective management of capital, profitable production, and business activities.

According to the evaluation criteria, Fitch also recognized EVNCPC with the advantages of a "strong market position" and "diversified partners, low risks" with a stable and diversified customer base.

Achieving the Fitch Ratings credit rating at BB with a positive outlook has an important meaning to EVNCPC, is an independent and objective measure of enterprise "health" and also contributes to strengthening the EVNCPC's reputation with domestic and foreign partners, creating favorable conditions for investment and development, improving the power supply capacity of EVNCPC.


  • 11/04/2023 03:14
  • evn.com.vn
  • 426