THE GOVERNMENT
 
No. 88/2014/ND-CP
 
 
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
Hanoi, September 26, 2014
 
DECREE
On credit rating services
 
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the November 29, 2005 Enterprise Law;
Pursuant to the July 12, 2006 Securities Law and the November 14, 2010 Law Amending and Supplementing a Number of Articles of the Securities Law;
At the proposal of the Minister of Finance,
The Government promulgates the Decree on credit rating services.
 
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
1. This Decree provides credit rating services; and prescribes conditions on operation of credit rating agencies established and operating in Vietnam.
2. This Decree does not regulate the following activities:
a/ Sovereign credit rating;
b/ Rating of credit institutions by the State Bank of Vietnam;
c/ Credit rating by the Credit Information Center of the State Bank of Vietnam;
d/ Internal credit rating of credit institutions and foreign bank branches.
Article 2. Subjects of application
1. Credit rating agencies that are granted business eligibility certificates under this Decree.
2. Enterprises and organizations to be rated.
3. Organizations and individuals involved in credit rating activities.
Article 3. Credit rating services
1. Credit rating of enterprises and organizations;
2. Credit rating of debt instruments.
Article 4. Interpretation of terms
In this Decree, the terms below are construed as follows:
1. “Report on credit rating result” means a report announcing the result of credit rating of a rated organization.
2. “Credit rating grades” means symbols denoting evaluated grades of the ability of rated organizations to honor their debt obligations.
3. “Debt instruments” means financial products which establish debt obligations, including bonds, bank loans and other financial products giving rise to debt obligations.
4. “Analyst” means a person who collects information, analyzes, assesses and rates the ability of a rated organization to honor its debt obligation.
 

 

[1] Công Báo Nos 931-932 (10/10/2014)