Moody's may cut four Vietnam banks

Moody's Investors Service said it placed the deposit and issuer ratings of four Vietnamese banks on review for possible downgrade.

The banks on downgrade review include:

Asia Commercial Bank's local-currency long-term deposit rating of Ba1, local-currency long-term issuer rating of Ba1 and foreign-currency long-term issuer rating of Ba2;

Bank for Investment and Development's local-currency long-term deposit rating of Ba1, local-currency long-term issuer rating of Ba1 and foreign-currency long-term issuer rating of Ba2;

Techcombank's local-currency long-term deposit rating of Ba1, local-currency long-term issuer rating of Ba1 and foreign-currency long-term issuer rating of Ba2;

Vietnam International Bank's bank financial strength rating of D-, local-currency long-term deposit rating of Ba2, local-currency long-term issuer rating of Ba2 and foreign-currency long-term issuer rating of Ba2.

The deteriorating macroeconomic environment, ongoing global crisis, unemployment levels, property prices and reduced profitability are factors that may translate into a significant deterioration of the bank's capital adequacy and earnings generation throughout 2009, Moody's said.

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