Business

Fitch rates EVNNPT 'BB' for first time

Fitch Ratings has assigned Vietnam’s National Power Transmission Corporation (EVNNPT) a long-term foreign-currency issuer default rating (IDR) of 'BB' with a stable outlook for the first time.
Fitch rates EVNNPT 'BB' for first time ảnh 1Fitch Ratings has assigned Vietnam’s National Power Transmission Corporation (EVNNPT) a long-term foreign-currency issuer default rating (IDR) of 'BB'. (Photo: EVN)

Hanoi (VNA) - Fitch Ratings has assigned Vietnam’s National Power TransmissionCorporation (EVNNPT) a long-term foreign-currency issuer default rating (IDR)of 'BB' with a stable outlook for the first time.

The agency has also assigned EVNNPT a senior unsecured rating of 'BB'.

EVNNPT's ratings are based on the consolidated profile of Vietnam Electricity(EVN, BB/Stable, standalone credit profile: BB), which owns 100 percent ofEVNNPT, in line with Fitch's parent and subsidiary rating linkage criteria. Theconsolidated rating approach is driven by strong linkages between EVNNPT andits parent company.

Fitch assesses EVNNPT's standalone credit profile at 'BB ', stronger than EVN'sIDR. EVNNPT's standalone credit profile is supported by its monopoly of Vietnam'selectricity transmission sector, pooled counterparty risk and strong receivableposition. The company relies on multiple counterparties, which are the fivedistribution companies under EVN, and enjoys strong receivables. - VNA
VNA
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