Current Vietnam credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive Vietnam ability to honor its financial commitments.
The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of Vietnam, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
The table below shows the current Vietnam credit ratings, according to the main rating agencies.
| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | BB+ | - | 27 May 2022 | rating upgrade |
| Moody's Investors Service | Ba2 | - | 6 Sep 2022 | rating upgrade |
| Fitch Ratings | BB+ | - | 8 Dec 2023 | rating upgrade |
| DBRS | - | - |
Vietnam: Long-term Rating Scales Comparison
Vietnam long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with Vietnam sovereign debt. These scales help investors understand the likelihood that Vietnam will meet its financial obligations.
Symbol means a negative outlook.
| Grade | Description | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|---|
|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
| High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
|
AA
|
Aa2
|
AA
|
AA
|
||
|
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
| Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
|
A
|
A2
|
A
|
A
|
||
|
A-
|
A3
|
A-
|
A(low)
|
||
| Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
|
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
|
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
|
BB
|
Ba2
|
BB
|
BB
|
||
|
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
| Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
|
B
|
B2
|
B
|
B
|
||
|
B-
|
B3
|
B-
|
B(low)
|
||
| Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
|
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
| Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
|
C
|
C
|
C
|
C
|
||
| In Default |
RD
|
/
|
RD
|
RD
|
|
|
SD
|
/
|
SD
|
SD
|
||
|
D•NR
|
D•NR
|
D•NR
|
D•NR
|
||
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Vietnam Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 8 Dec 2023 | BB+ | |||
| 6 Sep 2022 | Ba2 | |||
| 27 May 2022 | BB+ | |||
| 24 May 2021 | BB | |||
| 1 Apr 2021 | BB | |||
| 19 Mar 2021 | Ba3 | |||
| 8 Apr 2020 | BB | |||
| 18 Dec 2019 | Ba3 | |||
| 9 May 2019 | BB | |||
| 5 Apr 2019 | BB | |||
| 10 Aug 2018 | Ba3 | |||
| 15 May 2018 | BB | |||
| 18 May 2017 | BB- | |||
| 28 Apr 2017 | B1 | |||
| 3 Nov 2014 | BB- | |||
| 29 Jul 2014 | B1 | |||
| 23 Jan 2014 | B+ | |||
| 28 Sep 2012 | B2 | |||
| 6 Jun 2012 | BB- | |||
| 19 Aug 2011 | BB- | |||
| 23 Dec 2010 | BB | |||
| 15 Dec 2010 | B1 | |||
| 28 Jul 2010 | B+ | |||
| 11 Mar 2010 | BB- | |||
| 29 Jun 2009 | BB- | |||
| 4 Jun 2008 | Ba3 | |||
| 29 May 2008 | BB- | |||
| 15 Mar 2007 | Ba3 | |||
| 7 Jul 2005 | Ba3 | |||
| 6 Nov 2003 | BB- | |||
| 11 May 2003 | B1 | |||
| 11 Jun 2002 | BB- | |||
| 9 Jul 1998 | B1 | |||
| 17 Apr 1997 | Ba3 |
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