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Vietnam 'BB' FC And 'BB+' LC Ratings Affirmed With Negative Outlook Dec 08
Standard & Poors, December 2008
SINGAPORE (Standard & Poor's) Dec. 11, 2008--Standard & Poor's Ratings Services today affirmed its 'BB/B' foreign currency and 'BB+/B' local currency sovereign credit ratings on the Socialist Republic of Vietnam. The outlook is negative. The ratings on Vietnam reflect the country's low-income economy and developing financial system. These weaknesses increase the vulnerability of the economy to severe shocks that could significantly increase the public financial burden. Recent developments highlight the risks associated with this vulnerability in the economy. Hectic investment activity of recent years, fueled in part by strong credit growth, appears to have pushed the economy to the limits. "The banking sector now faces a global economic slowdown with its balance sheet weakened by excessive credit growth," Mr. Tan...
Companies mentioned in this report are: Socialist Republic of Vietnam
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Socialist Republic of Vietnam