On July 29th 2014, the credit rating organization Moody's had a press release about improving Vietnam's credit rate. Specifically, the credit level for Government's bonds was moved up to one level, from B2 up to B1 level and the promising level is rated Stable.
Illustration photo. Source: Internet
Simultaneously, the ceiling credit level for long-term bonds released in Vietnam's foreign currency was moved from B1 up to Ba2 level, the ceiling credit level for long-term foreign currency deposits was moved from B3 up to B2 level.
Moody's gave out reasons to Vietnam's credit rate improvement, including: (1) macroeconomic has been maintaining stable since 2012, especially the price index, economic growth although it was slower than the last two decades, it is still high rated comparing to the countries in the rated group. (2) Diversificating highly valued exporting goods has improved the payment balance and Vietnam's external relations. (3) Activities in bank area are gradually stable, limiting risks for government's budget.
Moody's claimed that Vietnam's macroeconomic will continue to maintain stable and this is a positive factor for bank system restructuring process and national foreign repaying ability.
In national credit rating business, Ministry of Finance is the chair unit cooperating with involved Ministries and Departments during the working process with credit rating organizations. Improving Vietnam's national credit rate is a positive information, building more faith to international investors as well as improving national credit.
KD
Loading...
