Vietnam has three credit rating agencies
Illustrative image (Photo: Internet)

The Hanoi Stock Exchange (HNX) said thanks to credit rating agencies, businesses will publicly disclose information about their financial status and their ability to fulfill debt obligations on time.

Next year, the State Securities Commission (SSC) will continue to direct relevant units to review and fine-tune legal regulations, enhance management and supervision, and strictly deal with any violations to support the sustainable development of the bond market.

The SSC assigned the HNX to continue working with relevant authorities to monitor the reporting obligations and disclosure of information by issuers in the corporate bond market in line with regulations.

The HNX was also tasked with organising and operating the bond market, in line with domestic regulations and international practices, thus improving liquidity and market organisation.

As of the late October, the privately placed corporate bond primary market saw 173 successful issuances with a total value of 184.79 trillion VND (7.69 billion USD), down 43.87% annually.

Breaking down the figure, real estate firms accounted for 41.4% of the market and credit institutions held 45.4%. Among the issued bonds, 46.9% had collateral.

There were 451 corporate bond codes from 114 issuers registering for private placements at HNX.

The registered trading volume was over 648.4 million bonds, equivalent to nearly 336.8 trillion VND. After more than 3 months of operation, the total trading volume of privately placed corporate bonds reached nearly 179.6 million valued at over 49.4 trillion VND. The average liquidity hit 677 billion VND per session.

Of note, the Vietnam Electricity (EVN) and the Bank for Investment and Development of Vietnam (BIDV) successfully issued green corporate bonds in accordance with the International Capital Market Association (ICMA) standards./.