Hanoi, August 18, 2025 – FiinRatings officially announces the suspension of its credit rating activities for Apax English Joint Stock Company (“Apax”), effective from May 31, 2022. The suspension results from the mutual agreement of both parties pursuant to the early termination provisions of Credit Rating Agreement No. 02/2021/FiinRatings.

The disclosure of the termination of the credit rating agreement is carried out in accordance with Articles 5, 27, 36, and 47 of Decree No. 88/2014/ND-CP on credit rating services. Accordingly, in cases where a credit rating agreement is terminated by mutual consent before the rating agency completes the issuance of a credit rating report, the credit rating agency shall discontinue the provision of credit rating services, shall not be obliged to deliver the credit rating report, and shall publish a disclosure regarding such termination.

In practice, the parties had entered into Credit Rating Agreement No. 02/2021/FiinRatings on February 8, 2021, and part of the work under this Agreement had been performed. However, as mutually agreed, the Agreement was terminated prior to its expiration, under which FiinRatings ceased providing credit rating services and did not deliver any credit rating report to Apax, in accordance with Apax’s request and the contractual provisions.

Therefore, FiinRatings hereby notifies that Credit Rating Agreement No. 02/2021/FiinRatings between FiinRatings and Apax has been terminated and confirms that no credit rating report has been issued for Apax under this terminated agreement.