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Moody’s rates Orient Commercial B2
Moody's Investors Service said it assigned the following ratings and assessments to Vietnam-based Orient Commercial Joint Stock Bank (OCB): (a) Long-term local and foreign currency deposit and issuer ratings of B2 with a stable outlook; (b) short-term local and foreign currency deposit and issuer ratings of Not Prime; (c) baseline credit assessment (BCA) and adjusted BCA of b3; and (d) counterparty risk assessments of B2(cr)/NP(cr).
The outlook is stable.
Moody’s said the B2 long-term ratings reflect the bank’s b3 baseline credit assessment and a one-notch uplift based on the agency’s expectation of a moderate probability of support from the Government of Vietnam (B1 stable).
The b3 baseline credit assessment reflects Orient Commercial’s modest solvency and funding metrics. The baseline credit assessment also takes in account Moody's expectation that the bank's asset quality and capital profile will weaken over time, because of its aggressive loan growth strategy, the agency explained.
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