Standard Chartered Bank Appointed as Vietnam’s Sovereign Credit Ratings Advisor

Standard Chartered Bank has been appointed the Sovereign Credit Ratings Advisor to the Government of Vietnam, working directly with the Ministry of Finance (MoF). TheMandate Letter was signed by Mr Nguyen Thanh Do - General Director of Debt Management & External Financial Department and Mr Louis Taylor - General Director of Standard Chartered Bank (Vietnam) Ltd; witnessed by Dr. Antony Stokes, the United Kingdom’s Ambassador to Vietnam and Mr Vuong Dinh Hue – Vietnamese Minister of Finance.

 

Vietnam currently maintains credit ratings from Standard & Poor’s (a division of the McGraw-Hill Companies), Moody’s, and Fitch Ratings. Vietnam’s sovereign credit rating is an important indicator for international investors and a tool used to determine the country’s borrowing cost in the international capital markets. Through improved economic management, the Government is seeking to improve its rating to attract greater foreign investment into the country. In addition, Vietnamese corporations and banks are increasingly accessing the international markets to finance their expansion plans. For these borrowers, the sovereign rating is of critical importance as it sets a benchmark for their own ratings, impacting their financing cost in overseas markets. 

 

Standard Chartered Bank was selected by the MoF because of its capabilities in advising on credit ratings, as well as its strategic focus and long-term commitment to Vietnam’s development. The Bank’s significant onshore presence enables it to provide experienced local insights to the rating agencies and to the broader investor community on behalf of the Government of Vietnam.