S&P affirms Vietnam

Standard & Poor's said it affirmed its BB- long-term and B short-term sovereign credit ratings on the Socialist Republic of Vietnam.

The outlook is stable.

The agency also affirmed the issue ratings on Vietnam's debt and its axBB+ long-term and axB short-term Asean regional scale ratings. The transfer and convertibility assessment remains BB-.

S&P said the ratings reflect the country's low-income economy, underdeveloped monetary framework and capital markets and the risks posed by a still-evolving policy and institutional setting. These constraints are balanced against Vietnam's strengthening external profile, with its rising foreign exchange reserves and modest net narrow external debt.

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