NEW YORK-- September 21, 2023 -- Moody’s Corporation (NYSE:MCO) today announced the launch of Vietnam Investors Service And Credit Rating Agency Joint Stock Company (VIS Rating), a partnership between Moody’s and leading Vietnamese financial institutions that was initiated by the Vietnam Bond Market Association (VBMA). Vietnam’s Ministry of Finance issued a credit rating agency license to VIS Rating on September 18, 2023.

VIS Rating will provide independent, best-in-class credit rating services to domestic corporate issuers in Vietnam.

“Moody’s recognizes the vital role that the local debt capital market plays in driving Vietnam’s economic growth,” said Michael West, President of Moody’s Investors Service. “As a global leader in credit ratings, research, and risk analysis, our international presence and local experience will position VIS Rating as the rating agency of choice in Vietnam.”

The value of Vietnam’s outstanding corporate bonds stood at around 13% of GDP as of August 2023, pointing to robust growth potential in its debt capital market. As Vietnam’s domestic bond market develops, credit ratings and research will play a meaningful role by helping companies access new capital, formulate funding strategies, signal transparency, and maintain investor confidence during times of market stress.

“VIS Rating broadens Moody’s network of domestic partners in Asia-Pacific and complements our leading cross-border coverage in Vietnam,” said Wendy Cheong, Managing Director and Regional Head of Asia-Pacific, Moody’s Investors Service, and member of the Board of Management, VIS Rating. “We are committed to providing global best practices, technical, and talent support to bolster VIS Rating’s capabilities.”

“We are delighted to have the backing of Moody’s and other local leading financial institutions as founding shareholders,” said Mr. Tran Le Minh, Chief Executive Officer and Managing Director of VIS Rating. “Together, we will build an organization that will be synonymous with trust, credibility, and best-in-class credit ratings and research in Vietnam.”

Moody’s is the largest shareholder in VIS Rating with a 49% holding. Other founding shareholders include ACB Securities Company, Dragon Capital Finance Limited, Nam A Bank Asset Management Company Limited, VNDIRECT Securities Corporation, and VPS Securities Joint Stock Company. VIS Rating operates independently from Moody’s.