Moody’s revises Vietnam to positive

Moody's Investors Service said it affirmed the Government of Vietnam's B1 issuer and senior unsecured debt ratings and revised the outlook to positive from stable.

Moody’s said the positive outlook is based on its expectations that:

• Strong foreign direct investment inflows, fostered by ongoing economic reform, will continue to diversify the economy and enhance economic performance compared to rating peers;

• Macroeconomic and external stability will be maintained; and

• In turn, strong growth and a stable macroeconomic environment will help stabilize government debt around current levels.

Concurrently, the agency upgraded Vietnam's local-currency bond and deposit ceilings to Baa3 from Ba1.

The country's foreign-currency bond and deposit ceilings remain at Ba2 and B2, respectively. In addition, the short-term foreign-currency bond and deposit ceilings are unchanged at "Not Prime.''

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