The Government has issued a decree on the amendment, supplementation and cancellation of some articles of decrees related to the private placement and trading of privately placed corporate bonds in the domestic market and offering of corporate bonds to the international market.
AM Best, the global credit rating agency specialising in the insurance industry, has upgraded two key ratings of PVI Insurance Corporation (PVI Insurance) thanks to its strong financial position and robust performance.
Faster-than-expected GDP growth, the upgrade of Vietnam’s credit ratings, and big fluctuations in the corporate bond market are among notable events of the Vietnamese economy in 2022.
Deputy Prime Minister Le Minh Khai has approved the sovereign credit rating improvement project by 2030, part of an effort to make Vietnam a developing and upper-middle-income country with modern industry, heightening the country’s international reputation and reducing credit risks.
As Vietnam has become a middle-income country and will gradually depend more on foreign commercial loans, the improvement of the sovereign credit ratings will help the Government, businesses, and financial and credit institutions be more cost-effective when mobilising loans or issuing bonds to international capital markets, according to the Ministry of Finance.
The Ministry of Finance held a working session with credit ratings agency Fitch in late March to present persuasive evidence regarding Vietnam’s economic resilience amid the existing global challenges.
Investors should make careful decisions when purchasing corporate bonds, especially coming with high yield rates, to avoid risks, the Ministry of Finance (MoF) has said.
Credit ratings agency Moody’s Investors Service on August 19 said its stable outlook for Vietnam’s banking system reflects the country’s robust economic performance, which will support asset quality and profitability.
Moody’s Investors Service, one of the world’s leading credit ratings agencies, has upgraded the credit rating outlook of Vietnam International Bank (VIB)’s local currency deposits and issuer ratings to “positive”, from its previous level of "stable".
The banking sector will apply comprehensive monetary policies and banking operations to improve credit access, focusing on enhancing national credit ratings, according to the State Bank of Vietnam.
Credit ratings agency Moody’s has recently ranked the Vietnam Joint Stock Commercial Bank for Industry and Trade the first among nine rated Vietnamese banks in terms of financial strength.
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