Securities Sector - 6M2025 Update
Buoyant Market Sentiment, Stronger Asset Recovery and Capital Raising to Support Sector Growth into 2026
About VIS Rating

About VIS Rating

Vietnam Investors Service And Credit Rating Agency Joint Stock Company (“VIS Rating”) was incorporated on 30 November 2021 by Moody’s Corporation – the world's leading credit rating agency – and leading financial institutions in Vietnam, initiated by the Vietnam Bond Market Association to facilitate the development of the domestic bond market.

We aspire to be the most respected domestic credit rating agency in Vietnam and to be regarded by domestic and global market participants to be "Vietnam’s Credit Rating Agency of Choice".

Our ambition is to be a leading domestic provider of credit ratings and research across multiple industry sectors and issuer groups. Through our ratings and research activity, we aim to provide objective and independent credit opinions and enhance the transparency of information to support the further growth and development of the domestic bond market in Vietnam.

Through our access to Moody’s databases, technical expertise and know-hows, we will strive to introduce global best practices to the domestic market, support the systematic development of efficient and liquid debt capital markets, and enhance market transparency and knowledge of credit risk and risk management in Vietnam.

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Our Services

VIS Rating provides credit ratings for issuers and debt instruments that enhance information transparency and assist issuers and investors to access the corporate bond market in Vietnam.

In addition, we also offer assessment & analysis products which provide our independent and objective opinion on creditworthiness and in-depth analysis of credit quality on corporates in Vietnam to support management decision making on investments and risk management.

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Rating Services

VIS Rating core business provides credit ratings that are publicly available serving the debt capital markets

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Assessment & Analysis Services

VIS Rating provides assessment & analysis services to serve the specific requirement of market participants

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VIS Rating core business provides credit ratings that are publicly available serving the debt capital markets

VIS Rating provides assessment & analysis services to serve the specific requirement of market participants

Research

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Corporate Bond Market Review - October 2025

Real Estate Fuels October Bond Surge, HBC Default Underscores Investor Need to Scrutinize Liquidity Risks
12/11/2025
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Vietnam Enforces Corporate Bond Market Reform, Reinforcing Investor Protection and Transparency to Rebuild Market Confidence

Government inspector conclusion - a continuation of the regulatory tightening already underway since 2023
30/10/2025
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Power Sector - Changes in LNG power development policy

Draft law to raise LNG power offtake guarantees will help unlock new investments - infrastructure bottlenecks threaten PDP8 2030 goals
30/10/2025
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Corporate Bond Market Review - September 2025

Brisk Issuance with Sharper Risk Pricing: A Welcome Development
15/10/2025
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