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Moody's upgrades Vietnam's ratings

by VTV413 August 2018 Last updated at 07:08 AM

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Moody's upgrades Vietnam's ratings
VTV.vn - In a statement released by Moody's Investors Service on August 10, the agency has upgraded the rating of the Vietnamese Government to Ba3 from B1 and has changed its outlook from positive to stable.

The upgrade to Ba3 is underpinned by strong growth potential, supported by the increasingly efficient use of labor and capital in the economy, according to Moody's.

The agency explained that a long average maturity of government debt and a diminishing reliance on foreign-currency debt pointed to a stable and gradually moderating government debt burden, particularly when strong growth has been sustained over time.

The upgrade also reflects improvements in the banking sector's health, which Moody's expects to be maintained.