Standard&Poor’s upgrades VN’s rating after nine years
VGP – Standard &Poor’s (S&P) Global Ratings has upgraded Viet Nam’s long-term credit rating from its “BB-” to “BB” with stable outlook and the short-term sovereign credit ratings at “B”.
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The upgrade is a reflection of the Vietnamese economy's rapid expansion and improvements in the government's "institutional settings", S&P said.
Accordingly, S&P highly appreciated the direction and administration of the Vietnamese Government. Consistent and strong improvements of the macro economy, along with political stability continue to be a testament to the remarkable institutional reforms.
S&P also believes that these positive results will continue to be improved in the future, positively supporting Viet Nam's national credit profile. The Vietnamese economy is expected to continue its rapid expansion, with improvements in making policies and upgrading ratings.
With many positive judgments, in addition to upgrading long-term national credit for Viet Nam to "BB", S&P will continue to consider raising the national credit rating for Viet Nam in the near future if the solid economic and the institutional environment help improve financial results better than expected.
Earlier, Moody's credit rating for Viet Nam was last set at Ba3 with a stable outlook in August, 2018. Fitch's credit rating for Viet Nam was last reported at BB with a stable outlook, in May, 2018./.
By Kim Loan
