S&P Global Ratings, the world's leading independent credit rating agency, said it will acquire a 43.4% stake in FiinRatings. The information has been confirmed by FiinRatings.
S&P Global Ratings, the world's leading independent credit rating agency, said it will acquire a 43.4% stake in FiinRatings. The information has been confirmed by FiinRatings.
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S&P Global Ratings said on February 25 that its parent company, S&P Global, has agreed to buy a 43.4% stake in FiinRatings, a credit rating agency under Fiin Group. The deal is pending approval from the Vietnamese government, according to S&P.
S&P Global Ratings is one of the three largest and most prestigious credit rating agencies in the world, while FiinRatings - a member of FiinGroup - is a pioneer and holds the largest market share in the credit rating industry in Vietnam.
S&P Global Ratings has been cooperating with FiinRatings since 2020. The relationship between the two parties was expanded in 2022 when FiinRatings became a Technical Cooperation Partner of S&P Global. S&P Global Ratings has provided training to FiinRatings analysts in many areas of CRA operations and improved analytical processes.
S&P Global's investment will further expand the relationship between the two parties, including knowledge transfer, product development, branding, sales, events, marketing, analytical cooperation and exchange of best practices... This will promote the credit rating market as well as the capital market in Vietnam - one of the fastest growing emerging countries in the world.
“We are delighted to strengthen our presence in Vietnam through this capital investment in FiinRatings, our trusted partner for many years in Vietnam. We look forward to working more closely with FiinRatings, leveraging FiinRatings’ deep understanding of the local market to better serve our clients and investors in Vietnam,” said Lynn Maxwell, Global Head of Commercial at S&P Global Ratings.
Nguyen Quang Thuan, Chairman and CEO of FiinRatings, also expressed his delight at the partnership: “S&P Global Ratings’ extensive global expertise and resources will enhance our ability to meet the ever-changing needs of businesses and investors, thereby bringing greater value to Vietnam’s growing capital market. At the same time, S&P Global Ratings can leverage our deep understanding and knowledge of the Vietnamese market,” said Thuan.
As of January 2025, S&P Global Ratings has provided credit ratings for more than 1 million debt issues with a total debt value of up to 46.3 trillion USD. These ratings play an important role in shaping financial strategies, attracting investment and creating confidence in the market. As one of the three largest credit rating agencies in the world, S&P Global Ratings plays a pivotal role in the international financial system, influencing how governments, businesses and financial institutions access capital and manage risk. This is also the core and oldest area of S&P Global Group, holding a central position in providing credit ratings and setting international financial standards.
According to Mr. Thuan, the decision to cooperate and invest in Fiinratings is a clear demonstration of S&P Global's trust in Vietnam's potential and future development and in Fiinratings' dedication and capacity. Credit rating service business is an infrastructure service for the sustainable and healthy development of the capital market. This is a business based on reputation, independence and especially professional capacity in assessing reputation and debt repayment capacity.
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