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Research Update: Credit Ratings On Vietnam Affirmed; Negative Outlook Reflects Risk On Financial Stability May 09 Product Image

Research Update: Credit Ratings On Vietnam Affirmed; Negative Outlook Reflects Risk On Financial Stability May 09

  • ID: 1886549
  • May 2009
  • Region: Vietnam
  • Standard & Poors

Abstract
Credit ratings on Vietnam reflect the country's low-income economy, developing financial system, and evolving policy framework. Healthy growth prospects, reinforced by the government's persistent efforts in economic restructuring, and a modest level of external indebtedness partly offset these weaknesses. We affirmed the 'BB/B' foreign currency and 'BB+/B' local currency ratings on Vietnam. The negative outlook on the ratings reflects the risks to financial stability as Vietnam banks face an economic slowdown with weakened balance sheets. On May 21, 2009, Standard & Poor's Ratings Services affirmed its 'BB/B' foreign currency and 'BB+/B' local currency sovereign credit ratings on Vietnam. The outlook on the long-term credit ratings remains negative. The credit ratings on Vietnam reflect the country's low-income economy, developing financial system,...

Companies mentioned in this report are:
- Vietnam (Socialist Republic of)

Action: Affirmed

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