Vietnam’s outlook was stable as according to global ratings firm Standard & Poor (S&P), which has retained its BB- long term and B short term sovereign credit ratings on the country.
S&P also confirmed a BB-rating on Vietnam’s senior unsecured bonds and a BB+ long term and a B short term ASEAN regional scale rating on the country whilst maintaining a BB- rating on the transfer convertibility assessment.
According to S&P, the ratings on Vietnam reflect its low-income economy, its weak fiscal position, a developing monetary and financial framework and the possibility that its evolving polity framework could weaken sovereign risk indicators.
It said the country is supported by a moderate and improving external position, with sovereign external borrowing remaining modest and at a low cost and long maturity.
They projected that the country’s gross external debt will remain below 50 percent of the gross domestic products (GDP) during the next three years.-VNA
S&P also confirmed a BB-rating on Vietnam’s senior unsecured bonds and a BB+ long term and a B short term ASEAN regional scale rating on the country whilst maintaining a BB- rating on the transfer convertibility assessment.
According to S&P, the ratings on Vietnam reflect its low-income economy, its weak fiscal position, a developing monetary and financial framework and the possibility that its evolving polity framework could weaken sovereign risk indicators.
It said the country is supported by a moderate and improving external position, with sovereign external borrowing remaining modest and at a low cost and long maturity.
They projected that the country’s gross external debt will remain below 50 percent of the gross domestic products (GDP) during the next three years.-VNA
