Moody’s downgrades Development Bank of Mongolia’s rating to Caa1 from B3
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Moody’s downgrades development bank of mongolia’s rating to caa1 from b3; changes outlook to stable
Backed senior unsecured debt and mtn program rating are downgraded to caa1/(p)caa1 from b3/(p)b3
Downgrade of dbm’s rating is driven by its strong linkages with the mongolian government
Expects the government to provide support to development Bank of Mongolia
Downgrade of DBM’s BCA to Ca from Caa1 reflects rising short-term liquidity pressure stemming from $580 million payment due march 2017
Downgrade driven by increased uncertainty over ability to meet its direct and indirect debt service obligations over next 18 months
Downgrade driven by expectation that budget deficit will remain wider for longer, combined with weaker growth outlook in next 2 years, will raise government’s debt burden Source text : bit.ly/2gtJedn
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