Credit rating organizations positive on Vietnam’s prospect
(VOVWORLD) - Foreign media last week reported on prospect for improving Vietnam's national credit ratings. They said improving national credit ratings is not only a matter of enhancing a nation’s reputation, but also diversifying channels for capital access, lowering borrowing interest, and strengthening the country’s external financial position.
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The Star, one of Malaysia’s top newspapers, commented on Vietnam’s strategy to improve national credit ratings as the country sets to raise its credit rating to Baa3 or better by Moody's and BBB or better by the Standard & Poor’s and Fitch by 2030. The paper mentioned key measures to obtain the targets, including to strengthen strong public finance and improve debt and fiscal index.
Vietnam’s current credit rating on S&P and Fitch’s scale stands at BB while the country is rated Ba3 by the Moody’s.
Fitch's credit rating for Vietnam was last reported at BB with positive outlook. It confirmed Vietnam’s positive growth prospect in the middle term despite the COVID-19 pandemic and global impacts from the Ukrainian conflict. It has forecast Vietnam’s economic growth at 6.1% this year and 6.3% next year.
Standard & Poor's credit rating for Vietnam raised from stable to positive, based on improved policy-making and economic developments despite COVID-19.