Vietnam Credit Rating

CREDIT RATINGS • SUMMARY
VIETNAM
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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 - -

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.

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 positive outlook assigned by the rating agency.
Symbol means a negative outlook.
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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

Timetable of Vietnam credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

Not enough data.

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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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