Thanh Nien Daily, 22 May 2009
Standard & Poor’s affirmed Vietnam’s sovereign ratings, highlighting the country’s economic growth prospects and restructuring efforts, but kept a negative outlook citing the vulnerability of the banking sector.
S&P maintained on Thursday its “BB” foreign-currency rating, or two notches below investment grade. The country’s local currency rating remains one rung above that at “BB-plus.”
“The credit ratings reflect the country’s low-income economy, developing financial system, and evolving policy framework,” Standard & Poor’s credit analyst Kim Eng Tan was quoted as saying in a statement released from Singapore.
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