Moody's rates Asia Commercial Bank B1

Moody's Investors Service said it assigned ratings to Asia Commercial Bank, including long- and short-term foreign-currency deposit ratings of B1/not-prime, long- and short-term local-currency deposit ratings of Ba1/not-prime, long- and short-term foreign-currency issuer ratings of Ba2/not-prime, long- and short-term local-currency issuer ratings of Ba1/not-prime and a bank financial strength rating of D.

The outlook is stable, except for the foreign-currency deposit rating, which carries a positive outlook.

The ratings reflect the bank's well-established franchise in the prosperous southern economic hub of Ho Chi Minh, Moody's said.

Constraining factors include the bank's rapid credit growth and the volatility inherent in its operating environment, the agency added.

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