Moody’s upgrades ratings of eight Vietnamese banks
VGP - Moody's Investors Service, a leading provider of credit ratings, research, and risk analysis, has raised ratings of eight Vietnamese banks.
Accordingly, Moody's has upgraded the long-term local (LC) and foreign currency (FC) deposit and issuer ratings of eight banks by one notch.
These banks are Vietcombank, BIDV, OCB, SeABank, TPBank, Agribank
Meanwhile, the LC and FC Counterparty Risk Ratings and Counterparty Risk Assessment of seven banks were raised by one notch, including BIDV, Agribank, Viet
In 2022, Moody's upgraded Viet Nam's long-term issuer and senior unsecured ratings to Ba2 from Ba3 and changed the outlook to stable from positive, making the nation the only in Asia-Pacific and one of the four countries globally to have ratings upgraded by Moody's.
The upgrade to Ba2 reflects the assessment by Moody's that Viet Nam's economy has growing strengths and greater resilience to external macroeconomic shocks that are indicative of improved policy effectiveness.
Moody's expects the situation would continue as the economy benefits from supply chain reconfiguration, export diversification and continued inbound investment in manufacturing./.
