RELEASED DATE 30 Jul 2014
On July 29th, 2014, following the upgrade of the Government of Vietnam and sovereign ceiling, BIDV is one out of two banks to have its long-term deposit and issuer ratings upgraded by one notch by Moody’s. Other ratings are affirmed.
Moody’s recognizes Vietnam’s emerging track record of macroeconomic stability, its strengthened balance of payments and the external payments position, and the easing of contingent risks from the banking sector. As a result, Vietnam Government expresses stronger capacity to provide extraordinary support to BIDV – a systemically important bank in Vietnam.
BIDV’s ratings details as follows:
Category Moody's Rating
LT Bank Deposits – Local currency B1
LT Bank Deposits – Foreign currency B2
LT Local/Foreign currency Issuer Rating B1
Bank Financial Strength E
Baseline Credit Assessment caa1
Adjusted Baseline Credit Assessment caa1
Gene Fang/Singapore (852) 3758 1350
Stephen Long/Hong Kong (852) 3758 1350
For further information, please access Moody’s Investor Service Ltd. website at http://www.moodys.com