The Finance Ministry said on September 6 that Moody’s Investors Service has upgraded Vietnam’s long-term issuer and senior unsecured ratings to Ba2 from Ba3 and changed the outlook to stable from positive.

Rated banks in Vietnam posted solid profit growth and asset quality improvements last year, benefitting from the country’s robust macroeconomic environment, the U.S.-based ratings agency Moody’s Investors Service stated in a new report.

Vietnam (Ba3, negative) is one of the most exposed sovereigns to sea level rise, whether measured by the share of the population, land area or economic activity threatened, Moody’s Investors Service said in a report.