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Vietnam Wins Rating Upgrade From Fitch

  • Rating raised one level to BB, 2nd-highest speculative grade
  • Fitch forecasts GDP growth of 6.7% in 2018, driven by FDI
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Vietnam won a sovereign rating upgrade from Fitch Ratings on rising foreign-exchange reserves and strong economic growth, putting the nation closer to investment grade. Bonds and stocks rose.

The rating on the nation’s long-term, foreign currency-denominated debt was raised one level to BB, with a stable outlook, Fitch said in a statement on Tuesday. The upgrade puts Vietnam at the second-highest speculative grade and on par with Costa Rica.