Licensed by Securities and Exchange Regulator of Cambodia – SERC

Cambodia's Independent Credit Rating Agency

Transparent, credible, and independent credit ratings that empower investors, issuers, and regulators across Cambodia's capital markets.

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Rated Entities

Years of Experience

Reports Published

95%

Client Retention

What We Do

Our Rating Services

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Issuer Credit Rating

Independent opinion on corporate credit standing.

Assesses a company’s overall creditworthiness and capacity to meet its financial obligations.

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Debt Instruments Rating

For fundraising through the capital market.

Evaluates the credit risk of bonds and debt securities to support transparent capital market fundraising.

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Who We Are

Independent Ratings You Can Trust

Rating Agency of Cambodia (RAC) is the first credit rating agency, providing transparent and credible assessments that strengthen investor confidence and support the development of Cambodia's capital markets.

Expert analyst teams Seasoned professionals across sectors
Published methodologies Transparent, regulator-aligned frameworks

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Rating Scale

Understanding Our Ratings

A clear framework from khAAA (Extremely Strong Capacity) to khD (In Default).

Very Low Risk Low Risk Moderate Risk High Risk Very High Risk

khAAA

Extremely Strong Capacity

khAA

Very Strong Capacity

khA

Strong Capacity

khBBB

Adequate Capacity

khBB

Moderate Capacity

khB

More Vulnerable

khCCC

Depends on Favorable Conditions

khCC

Weak Capacity

khC

Unlikely to Meet Commitments

khD

In Default

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Latest Updates

News & Insights

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June 17, 2025

Press Release

March 13, 2025

Press Release

January 15, 2025

MOU Signing Ceremony between RAC and ITC

New Listings

New Bond Listing

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June 23, 2026

Credit rating report of VR1 Energy Company Limited

May 25, 2026

Credit rating release of Botum Sakor Energy Company Limited

May 18, 2026

Credit monitoring report of CIA First International School – Bond 1 & 2

Request a Rating for Your Organisation

Get in touch with our team to begin the rating process.