Moody’s rates Vietnam Maritime B3

Moody's Investors Service said it assigned the following ratings to Vietnam Maritime Commercial Joint Stock Bank:

• Local and foreign currency issuer ratings of B3/NP;

• Local and foreign currency deposit ratings of B3/NP; and

• A standalone baseline credit assessment of caa1; and an adjusted BCA of caa1.

The outlook on the issuer and deposit ratings is positive.

The agency also assigned the counterparty risk assessments of B2(cr)/NP(cr) to the bank.

Moody’s said the B3 long-term ratings reflect the bank's baseline credit assessment of caa1 and a one notch uplift due to Moody's expectation of moderate support from the Government of Vietnam (B1 stable), in case of stress.

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