Moody's Ignites Vietnam's Financial Scene With Pioneering VIS Credit Rating Venture

Moody's Corporation (NYSE: MCO) unveiled the Vietnam Investors Service And Credit Rating Agency Joint Stock Company, or the VIS Rating.

The development has been done in partnership with Vietnamese financial institutions that were initiated by the Vietnam Bond Market Association (VBMA).

Vietnam's Ministry of Finance issued a credit rating agency license to VIS Rating on September 18, 2023. 

VIS Rating will provide credit rating services to domestic corporate issuers in Vietnam. 

The value of Vietnam's outstanding corporate bonds stood at around 13% of GDP as of August 2023, pointing to robust growth potential in its debt capital market. 

As Vietnam's domestic bond market develops, credit ratings and research will play a meaningful role.

"Moody's recognizes the vital role that the local debt capital market plays in driving Vietnam's economic growth," said Michael West, President of Moody's Investors Service. 

"As a global leader in credit ratings, research, and risk analysis, our international presence and local experience will position VIS Rating as the rating agency of choice in Vietnam."

Price Action: MCO shares closed lower by 0.79% to $340.69 on Tuesday.