Reuters logo
TEXT-S&P lowers Vinacomin rating to 'B+';outlook stable
November 22, 2012 / 10:37 AM / 5 years ago

TEXT-S&P lowers Vinacomin rating to 'B+';outlook stable

(The following statement was released by the rating agency)

Nov 22 -

Overview

-- Vinacomin’s financial risk profile is weakening due to the company’s large capital spending and the declining profitability of its coal operations.

-- We are lowering our long-term corporate credit rating on the Vietnam-based mining company to ‘B+’ from ‘BB-’ and the stand-alone credit profile to ‘b+’ from ‘bb-'.

-- We are also affirming our ‘axBB’ long-term ASEAN regional scale rating on Vinacomin.

-- The stable outlook reflects our expectation that Vinacomin’s financial risk profile will stabilize at weaker levels over the next two years.

Rating Action

On Nov. 22, 2012, Standard & Poor’s Ratings Services lowered its long-term corporate credit rating on Vietnam-based Vietnam National Coal and Mineral Industries Holding Corp. Ltd. (Vinacomin) to ‘B+’ from ‘BB-'. The outlook is stable. At the same time, we affirmed the ‘axBB’ long-term ASEAN regional scale rating on the company.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below