Moody's upgrades unsecured ratings of 15 Vietnamese banks
Moody's Investors Service has affirmed the long-term local and foreign currency deposit ratings and senior unsecured ratings of 15 Vietnamese banks at Ba3 positive.
Transactions at a branch of Vietcombank (Photo: VNA)
Hanoi (VNA) - Moody'sInvestors Service has affirmed the long-term local and foreign currency depositratings and senior unsecured ratings of 15 Vietnamese banks at Ba3 positive.
At the same time, Moody's also revised the outlook for the long-term local andforeign currency deposit and issuer ratings of five banks to positivefrom negative, four banks to positive from stable and six banks to stable fromnegative.
The rating actions followed Moody's affirmation of Vietnam's Ba3 issuer ratingand the change in the outlook to positive from negative.
The 15 banks are An Binh Bank, ACB, HDBank, Vietcombank, BIDV, Lien Viet PostBank, MB, OCB, SeABank, TPBank, Agribank, VIB, VietinBank, VPBank andTechcombank.
With the exception of An Binh Bank, the Baseline CreditAssessments (BCAs), adjusted BCAs, Counterparty Risk Assessments (CRA) andcounterparty risk ratings (CRR) assigned to the banks stated above areunaffected by the rating actions.
It downgraded An Binh Bank's BCA and adjusted BCA to B2 from B1, while thelong-term CRA and CRR have been downgraded to B1 and B1 from Ba3 and Ba3,respectively.
Vietnam's sovereign credit strength is a key input in Moody'sassessment of the deposit and issuer ratings of Vietnamese banks, because thecountry's credit strength affects the government's capacity to provide supportto the banks in times of stress.
Assuming all other factors remain constant, Moody's willlikely upgrade the long-term ratings of the nine Vietnamese banks whose ratingsare on a positive outlook if the Vietnamese governmentཧ's rating is upgraded./.
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Transactions at a branch of Vietcombank (Photo: VNA) 
