Vietnam ratings raised to 'BB/B' on strengthening institutional settings; Outlook stable, says S&P
HANOI - Standard and Poor's has raised its long-term sovereign credit rating on Vietnam to 'BB' from 'BB-', and says the outlook on the long-term rating is stable. S&P has also affirmed its short-term rating on Vietnam at 'B'.
"The stable outlook reflects our expectation that Vietnam's economy will continue to expand rapidly, exemplifying gradual improvements in the policymaking settings in Vietnam and underpinning credit metrics," S&P says.
"Vietnam's consistently strong macro-economic performance and continued political stability are testament to its improved institutional settings.
"We expect strong development outcomes to continue, supporting Vietnam's credit profile.
"These factors are weighed against continued vulnerabilities in Vietnam's fiscal accounts and its financial sector."