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EVN's ratings reflect its Standalone Credit Profile (SCP), which is at the same level as the Vietnam sovereign rating.

Fitch Revises Outlooks on Vietnam's EVN, EVNNPT, PVN to Stable; Affirms 'BB' Ratings
Ảnh: Accord
Fitch Ratings has revised the Outlooks on Vietnam Electricity (EVN), National Power Transmission Corporation (EVNNPT) and Vietnam Oil and Gas Group (PVN) to Stable from Positive. 
The agency has affirmed the three companies' Issuer Default Ratings and senior unsecured ratings at 'BB'. The rating actions follow the revision of the Outlook on Vietnam (BB/Stable) to Stable from Positive on 8 April 2020.
EVN's ratings reflect its Standalone Credit Profile (SCP), which is at the same level as the Vietnam sovereign rating. Under Fitch's Government-Related Entities Rating Criteria, EVN's ratings will be equalised to that of the sovereign in case of any weakening in its SCP given the company's strong linkages with the state.
PVN's ratings are capped by those of the sovereign under Fitch's Government-Related Entities Rating Criteria given the company's strong linkages with the state. PVN's SCP is assessed at 'bb+'.
EVNNPT's ratings are based on the consolidated profile of EVN, which owns 100% of EVNNPT, in line with Fitch's Parent and Subsidiary Rating Linkage criteria. The consolidated rating approach is driven by strong linkages between EVNNPT and its parent. EVNNPT's SCP is assessed at 'bb+'.

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