Fitch hikes Vietnam

Fitch Ratings said it raised Vietnam’s long-term foreign-currency issuer default and senior unsecured ratings to BB+ from BB.

“The upgrade reflects Vietnam's favorable medium-term growth outlook, underpinned by robust foreign direct investment (FDI) inflows, which we expect will continue to drive sustained improvements in its structural credit metrics,” the agency said in a statement.

However, Fitch noted, “Weakness in the property market and slower economic growth have dampened loan demand and contributed to an increase in banks' asset impairment in 9M23. Some highly leveraged firms could face refinancing risks as maturities fall due.”

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.