Seafood industry has been a major export field of Vietnam for many years. However, that the Vietnamese seafood enterprises have used much debt for their business performances becomes a big obstacle for their sustainable development. By exploring the data set from financial statements of the Vietnamese listed seafood enterprises from 2009 to 2013, processed by Probit model, we found the common following characteristics of the listed seafood firms which have higher debt ratios than the average of the sector: (i) a long-lasting period of operation, (ii) high credit ratings, and (iii) risk...