World leading credit rating firm Moody’s Investors Service has upheld financial strength at the level of E+ for the Bank for Investment and Development of Vietnam (BIDV) in its 2010 rating report.
BIDV made the announcement on June 8, saying that many of its credit ratings remained unchanged as compared with those last year and reached the country’s ceilings. Its outlook is rated as stable, said the bank.
Accordingly, the rating for BIDV’s domestic and foreign currency deposits is Ba2/B1, while its issuer rating stands at Ba2.
The ratings are considered to be positive as the global economy has yet to fully recover and Vietnamese banks are facing a range of challenges.
2010 marks the fifth year in a row that BIDV has asked Moody’s to conduct credit ratings, reflecting the bank’s commitments to transparency and application of international standards to business operations./.
BIDV made the announcement on June 8, saying that many of its credit ratings remained unchanged as compared with those last year and reached the country’s ceilings. Its outlook is rated as stable, said the bank.
Accordingly, the rating for BIDV’s domestic and foreign currency deposits is Ba2/B1, while its issuer rating stands at Ba2.
The ratings are considered to be positive as the global economy has yet to fully recover and Vietnamese banks are facing a range of challenges.
2010 marks the fifth year in a row that BIDV has asked Moody’s to conduct credit ratings, reflecting the bank’s commitments to transparency and application of international standards to business operations./.