S&P REAFFIRMS VIETNAM RATINGS AS GOVERNMENT STABILISES ECONOMY

SINGAPORE - Standard & Poor's has affirmed its 'BB-' long-term and 'B' short-term sovereign credit ratings on Vietnam, with the outlook stable.It has also affirmed its 'BB-' issue rating on Vietnam's senior unsecured bonds and 'axBB+' long-term and 'axB' short-term ASEAN regional scale rating on Vietnam. The transfer and convertibility (T&C) assessment remains 'BB-'. S&P says the ratings reflect Vietnam’s low-income economy, its weak fiscal position, a developing monetary and financial framework, and the possibility that its evolving policy framework could weaken sovereign risk indicators. Vietnam's external indicators, reflecting moderate liquidity and a modest net narrow external debt level, support its sovereign creditworthiness.