Vietnam Electricity Obtains its First Rating Supported by GIF and the WB Energy GP

Vietnam Electricity (EVN) is assigned a Long-Term Foreign Currency Issuer Default Rating of ‘BB’ with a ‘Stable Outlook’ and a senior unsecured rating of ‘BB” which is the same as the sovereign rating. EVN’s sustainable financing strategy is supported by the World Bank and the GIF.

The World Bank’s Energy and Extractives Global Practice supported the credit rating exercise through a combination of financing and advisory support, including by appointing Mizuho Bank to prepare for credit rating readiness and the subsequent rating exercise, an exercise which the Global Infrastructure Facility (GIF) actively managed. After this readiness work concluded in February 2018, EVN appointed Fitch Ratings to conduct the rating exercise.

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