The Potential for Foreign Investment in a Domestic Credit Rating Agency in Viet Nam
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This paper evaluates the Viet Nam bond market from a global credit rating agency’s perspective and examines the potential of an international rating agency’s entry to the Vietnamese market through a technical service agreement.
Viet Nam already issues relatively more corporate debt than countries such as Indonesia and the Philippines. The more these bonds are rated—either through changes in the credit culture or regulations—the clearer the case will be for an international rating agency to go beyond a technical agreement and invest equity in a domestic credit rating agency.