| Fitch downgrades Vietnam’s credit rating-continued | |||||
| The rating was downgraded from BB- to B+, which is four steps below investment grade, with a stable outlook. Moody’s Investors Services and Standard & Poor’s have left their ratings unchanged with a negative outlook. “Vietnam’s sovereign creditworthiness has deteriorated on the back of weaker external finances and rising external financing requirements amid an inconsistent macroeconomic policy framework, a highly dollarised economy and a weak banking system,” said Ai Ling Ngiam, director at Fitch’s Asia sovereign team. |
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| Source: FT.com | |||||