Vietnam Dollar Bonds Rally After Moody’s Boosts Sovereign Rating
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Vietnam’s dollar bonds jumped the most in more than a month after Moody’s Investors Service upgraded the country’s sovereign ratings for the first time since 2005, citing a stronger economy.
The government’s issuer and senior unsecured bond ranking was raised one level to B1, the fourth-highest junk grade, with a stable outlook, Moody’s said in a statement today. The long-term foreign-currency bond ceiling was lifted two levels to Ba2 from B1 and the long-term deposit ceiling to B2 from B3.