Moody’s might cut Vietnam

Moody's Investors Service said it placed the Ba3 local and foreign currency issuer and senior unsecured ratings of Vietnam under review for downgrade.

The decision to place the ratings under review for downgrade is driven by institutional deficiencies that have come to light, the agency said.

In particular, Moody's said it has become aware of delayed payments on an obligation by the government.

“While the information available so far points to no or minimal losses for creditors, the coordination gaps within the administration that the delayed payments may reflect, point to creditworthiness that may no longer be consistent with a Ba3 rating,” the agency said in a news release.

© 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.