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Vietnam Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Ba2 Positive | BB+ Stable | BB+ Stable | NR — | NR — |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| May 04, 2026 | Moody's | Ba2 | Stable | Ba2 | Positive | |
| Dec 08, 2023 | Fitch | BB | Positive | BB+ | Stable | |
| Sep 06, 2022 | Moody's | Ba3 | Positive | Ba2 | Stable | |
| May 26, 2022 | S&P | BB | Positive | BB+ | Stable | |
| May 21, 2021 | S&P | BB | Stable | BB | Positive | |
| Apr 01, 2021 | Fitch | BB | Stable | BB | Positive | |
| Mar 18, 2021 | Moody's | Ba3 | Negative | Ba3 | Positive | |
| Apr 08, 2020 | Fitch | BB | Positive | BB | Stable | |
| Dec 18, 2019 | Moody's | Ba3 | Under Review | Ba3 | Negative | |
| Oct 09, 2019 | Moody's | Ba3 | Stable | Ba3 | Under Review | |
| May 09, 2019 | Fitch | BB | Stable | BB | Positive | |
| Apr 05, 2019 | S&P | BB- | Stable | BB | Stable | |
| Aug 10, 2018 | Moody's | B1 | Positive | Ba3 | Stable | |
| May 15, 2018 | Fitch | BB- | Positive | BB | Stable | |
| May 18, 2017 | Fitch | BB- | Stable | BB- | Positive | |
| Apr 28, 2017 | Moody's | B1 | Stable | B1 | Positive | |
| Nov 03, 2014 | Fitch | B+ | Positive | BB- | Stable | |
| Jul 29, 2014 | Moody's | B2 | Stable | B1 | Stable | |
| Jan 23, 2014 | Fitch | B+ | Stable | B+ | Positive | |
| Sep 28, 2012 | Moody's | B1 | Negative | B2 | Stable |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CC | CC |
C | CC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Vietnam’s current credit rating?
Vietnam’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Vietnam’s credit risk.
Has Vietnam’s credit rating changed recently?
This page lists the latest rating and outlook actions for Vietnam, showing when each agency last reviewed or changed its assessment.
Why does Vietnam’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Vietnam's bond yields, currency, and equity flows as investors reassess risk.
How does Vietnam’s rating compare to other countries?
You can explore how Vietnam ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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