Moody's cuts Vietnam banks to negative

Moody's Investors Service said it revised to negative from positive the outlooks for the B1 foreign-currency deposits of three Vietnamese banks.

Bank for Investment & Development of Vietnam's foreign-currency deposits are rated at the B1 sovereign ceiling due to the bank's state ownership. Its bank financial strength rating is E+.

Asia Commercial Bank's foreign-currency deposit rating is constrained by the B1 sovereign ceiling, as is its bank financial strength rating of D.

Vietnam Technological and Commercial Joint Stock Bank (Techombank)'s foreign-currency deposit rating is constrained by the B1 sovereign ceiling as is its bank financial strength rating of D-, which continues to have a positive outlook..

The move follows the revision of the outlook for the country's B1 foreign-currency deposit ceiling to negative from positive, Moody's said.

© 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.