Hoa Phat ranked as excellent credit rate in 2010

As reported by the Credit Information Center (CIC) under the State Bank, Hoa Phat Group is a stable and effective enterprise, and has strong financial capacity, good growth prospect and low risks. Based on criteria of financial transparency, CIC stated that Hoa Phat has excellent credit ratings in three consecutive fiscal years 2008, 2009 and 2010.  
 
The credit rating results of Top 1000 enterprises in 2010 showed Hoa Phat Group JSC and its member companies such as Hoa Phat refrigeration, Hoa Phat equipment and accessories, Hoa Phat Steel Pipe scored as AA level (excellent), specifically Hoa Phat Furniture JSC graded maximum as AAA (very excellent).

Mr. Nguyen Huu Duong - Deputy Director of CIC, said: "Indicators of HPG short-term solvency are larger than 1, indicating short-term assets to meet liabilities in the year. The debts management of the business is very well, contributing to limiting the status of capital accumulation in the payment process. The debt over total assets reached maximum point in the whole third fiscal years, affirming Hoa Phat structure of capital is very plausible. In addition, the capacity of financial autonomy of the company is high". 

Stability and effective operation of the Hoa Phat also performed from the maximum score of income indicators and ability to use assets and equity sources in creating profit effectively and highly. 

The CIC’s credit ranking in 2010 is to build a bridge between businesses and credit institutions, and acknowledge the contribution of the business community with the country development.

Nghi Trần