Moody’s upgrades VN’s credit ratings

15:28 | 30/07/2014

VGP – Moody’s Investors Service on July 29 raised senior unsecured and issuer bond ratings of Viet Nam by one notch, to B1 from B2, with a stable outlook.

Illustration photo

The rating firm cited the country’s emerging track record of macroeconomic stability since 2012.

Moody’s also raised the country’s long-term foreign currency bond ceiling to Ba2 from B1, and its long-term foreign currency deposit ceiling to B2 from B3.

The firm also raised Viet Nam’s local currency country risk ceiling to Ba1 from Ba2.

FDI sector and robust export activities contributed to maintaining economic growth. As of July, 2014, the current balance was shifted from deficit to surplus, leading to record foreign reserve at US$35.9 billion.

At the Government’s meeting on July 30, the Ministry of Planning and Investment said the overall socio-economic performance was positive in the first seven months this year./.

By Kim Anh