Vietnam's Credit Conditions - 2025 Outlook
Continued policy support and improving business conditions will drive stable credit conditions in 2025
About VIS Rating

About VIS Rating

Vietnam Investors Service And Credit Rating Agency Joint Stock Company (“VIS Rating”) was incorporated on 30 November 2021 by Moody’s Corporation – the world's leading credit rating agency – and leading financial institutions in Vietnam, initiated by the Vietnam Bond Market Association to facilitate the development of the domestic bond market.

We aspire to be the most respected domestic credit rating agency in Vietnam and to be regarded by domestic and global market participants to be "Vietnam’s Credit Rating Agency of Choice".

Our ambition is to be a leading domestic provider of credit ratings and research across multiple industry sectors and issuer groups. Through our ratings and research activity, we aim to provide objective and independent credit opinions and enhance the transparency of information to support the further growth and development of the domestic bond market in Vietnam.

Through our access to Moody’s databases, technical expertise and know-hows, we will strive to introduce global best practices to the domestic market, support the systematic development of efficient and liquid debt capital markets, and enhance market transparency and knowledge of credit risk and risk management in Vietnam.

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Our Services

VIS Rating provides credit ratings for issuers and debt instruments that enhance information transparency and assist issuers and investors to access the corporate bond market in Vietnam.

In addition, we also offer assessment & analysis products which provide our independent and objective opinion on creditworthiness and in-depth analysis of credit quality on corporates in Vietnam to support management decision making on investments and risk management.

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Rating Services

VIS Rating core business provides credit ratings that are publicly available serving the debt capital markets

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Assessment & Analysis Services

VIS Rating provides assessment & analysis services to serve the specific requirement of market participants

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VIS Rating core business provides credit ratings that are publicly available serving the debt capital markets

VIS Rating provides assessment & analysis services to serve the specific requirement of market participants

Research

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Credit Conditions - 2025 Outlook

Continued policy support and improving business conditions will drive stable credit conditions in 2025
05/02/2025
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Securities Sector - 2025 Outlook

Private-bank affiliated firms will lead the sector profit growth, boosted by stronger investor sentiment and stabilizing asset risk
22/01/2025
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Banking Sector - 2025 Outlook

Robust business conditions will drive stronger asset quality and profits in 2025
22/01/2025
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Residential Property Sector - 2025 Outlook

Outlook improving from stronger housing supply and sales; leverage and refinancing difficulties to ease as cash flows return
20/01/2025
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Corporate Bond Market Review - December 2024

This monthly report summarizes our observations and analysis of the key developments in the corporate bond market over the past month
09/01/2025
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Banking Sector - Credit Insights - January 2025

Most banks will maintain stable asset risk in 2025 after Circular 02 expires
06/01/2025
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