Fitch affirms Vietnam Electricity Northern Power Corporation at 'BB', outlook positive
Credit ratings agency Fitch Ratings has affirmed Vietnam Electricity Northern Power Corporation's (EVNNPC) long-term foreign-currency issuer default rating at 'BB' with a positive outlook.
Hanoi (VNA) - Credit ratings agency FitchRatings has affirmed Vietnam Electricity Northern Power Corporation's (EVNNPC) long-termforeign-currency issuer default rating at 'BB' with a positive outlook.
The rating reflects EVNNPC's 'bb' Standalone CreditProfile (SCP), which is assessed at the same level as that on the parent,Vietnam Electricity (EVN, BB/Positive), especially in the context of both EVNand EVNNPC facing a host of difficulties and challenges in balancing theirfinance last year.
According to the agency, EVNNPC's credit profilebenefits from its stable and diversified customer base with its top-20customers accounting for around 9% of total revenue.
“We expect Vietnam's strong growth prospect tocontinue to drive power demand and revenue growth for EVNNPC,” it said.
As one of the five distribution companies under theEVN group, EVNNPC manages power operation and business in the 27 northern citiesand provinces.
In 2020, the corporation was assigned a Long-TermForeign-Currency Issuer Default Rating (IDR) of ‘BB’ with a Stable Outlook byFitch Ratings./.
Credit ratings agency Fitch Ratings has assigned the PetroVietnam Power Corporation (PV Power) a Long-Term Foreign-Currency Issuer Default Rating (IDR) of “BB” with a positive outlook for the second consecutive year.
Fitch Ratings has rated Petrovietnam Gas Joint Stock Corporation (PV GAS) as a Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'BB' with a positive outlook.
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Illustrative image (Source: tapchitaichinh.vn) 
