Moody’s: Eight Vietnamese banks to positive

Moody's Investors Service said it affirmed the long-term and short-term deposit and, where applicable, issuer and senior debt ratings of eight banks in Vietnam (B1 positive).

At the same time, the agency revised the outlooks for the local currency deposit and local and foreign currency issuer ratings of these institutions to positive from stable.

The affected banks are: (a) JSC Bank for Foreign Trade of Vietnam; (b) Vietnam JSC Bank for Industry and Trade; (c) JSC Bank for Investment and Development of Vietnam; (d) An Binh Commercial Joint Stock Bank; (e) Asia Commercial Bank; (f) Military Commercial Joint Stock Bank; (g) Vietnam International Bank; and (h) Vietnam Technological and Commercial Joint Stock Bank.

The actions follow Moody's April 28 affirmation of Vietnam's B1 sovereign rating, and change in the outlook for the sovereign's rating to positive from stable on 28 April 2017.

The baseline credit assessments (BCAs), adjusted BCAs and counterparty risk assessments assigned to the eight banks stated above are unaffected by the actions.

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