Moody’s upgrades Vietnam’s ratings to Ba3 and changes outlook to stable
Moody’s Investors Service (“Moody’s”) has today upgraded the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive. The upgrade to Ba3 is underpinned by strong growth potential, supported by increasingly efficient use of labor and capital in the economy. A long average maturity of government debt and a diminishing reliance on foreign-currency debt point to a stable and gradually moderating government debt burden, particularly if strong growth is sustained over time. The structure of Vietnam’s government debt also limits susceptibility to financial shocks. The upgrade also reflects improvements in the health of the banking sector that Moody’s expects to be maintained, albeit from relatively weak levels. The stable outlook reflects balanced risks at the Ba3 rating level While downside risks may arise from persisting weaknesses in the banking system or if the ongoing trade dispute between the US...
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