This reinitiated stable outlook concludes Moody’s review for downgrade initiated on April 7, 2020 which also took in the assessment of two other finance companies, namely Home Credit Vietnam Finance (HCV) and SHB Finance and two banks – VP Bank (the parent company of FE Credit) and SHB. Moody’s rational for keeping the stable outlook for FE Credit includes the agency’s expectation that FE Credit will remain able to mitigate the solvency and liquidity risks caused by the coronavirus thanks to three factors. Moody’s concluded that the FE Credit’s funding and liquidity positions were stable during the review period supported by ample international and domestic liquidity. First is the early reopening of the Vietnamese economy due to the successful control of the outbreak. Second is the stabilising financing conditions supported by ample liquidity following supportive domestic and global measures and third is the company’s ability to manage credit and liquidity risks amid disruptions from the coronavirus outbreak. Moody’s concluded that FE Credit’s funding and liquidity positions were stable during the review period, supported by ample international and domestic liquidity. This helped the company to roll over their existing funding and access new funding. The credit rating service also noted that the company… Read full this story
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