www.unuudur.com: The latest news of Mongolia in the World

Moody’s Investors Service has downgraded the foreign currency long-term deposit ratings of seven Mongolian banks to Caa1 from B3, and initiated a review for further downgrade. The seven banks are: Bogd Bank LLC; Capital Bank LLC; Golomt Bank LLC; Khan Bank LLC; State Bank LLC; Trade and Development Bank of Mongolia LLC; and XacBank LLC.

Moody’s Investors Service says that Mongolian Mining Corporation’s (MMC, Ca negative) missed payment on the principal instalment and interest of its bank facilities has no immediate impact on its Ca corporate family and senior unsecured rating.

Moody’s Investors Service says that Mongolia’s (B2 negative) credit profile will come under pressure over the next 12 to 18 months, due to a combination of falling commodity prices and lower growth in China (Aa3 stable).

Moody’s Investors Service says Mongolia’s B2 government bond rating is supported by the country’s strong growth potential, driven in large part by its abundant natural resource wealth. However, slowing growth due to falling commodity prices, coupled with sizeable fiscal deficits and a thin foreign reserve cover have weighed on credit quality.

Moody’s Investors Service says that government support for the Development Bank of Mongolia LLC (DBM) will remain strong despite the expectation that the policy bank’s role in financing certain types of investments will fall.

Moody’s Investors Service has assigned a B2 issuer rating to Development Bank of Mongolia LLC (DBM). Moody’s has also assigned a caa1 baseline credit assessment (BCA) and adjusted BCA to the bank, as well as a B2(cr)/NP(cr) long- and short-term Counterparty Risk Assessment (CR Assessment) to DBM.

Moody’s Investors Service has assigned a (P)B3 foreign currency senior unsecured rating to Trade and Development Bank of Mongolia LLC’s (TDBM) $500million Global Medium Term Notes (GMTN) Program.

Moody’s Investors Service has assigned long- and short-term Counterparty Risk Assessments (CR Assessments) to four Mongolian banks.

Moody’s Investors Service has assigned Golomt Bank LLC a global local currency long-term deposit rating of B2 and a foreign currency long-term deposit rating of B3.

Moody’s Investors Service has assigned a B2 rating to Trade and Development Bank of Mongolia LLC’s (TDBM, B3 foreign currency deposit rating negative/ b3 baseline credit assessment) ‘s proposed senior unsecured notes, which will be drawn from the $500million Global Medium Term Notes (GMTN) Program.

Moody’s Investors Service says the negative outlook on Mongolia’s banking system — unchanged since 2013 — reflects the multiple headwinds that continue to challenge Mongolian banks.

Moody’s Investors Service has downgraded the local currency long-term deposit ratings for Khan Bank LLC, XacBank LLC, and Trade and Development Bank of Mongolia LLC (TDBM) to B2 from B1. At the same time, Moody’s has downgraded the foreign currency long-term senior unsecured debt ratings for TDBM to B3 from B1.

Moody’s Investors Service says that the revision of the relevant documentation to exclude a governmental letter of support has no rating implications for the (P)B1 rating on the Trade and Development Bank of Mongolia LLC’s (TDBM) $1 billion Global Medium Term Notes (GMTN) Program.

Moody’s Investors Service has changed the outlook on Mongolia’s government bond rating to negative from stable. Concurrently, Moody’s has affirmed the government’s issuer and bond B1 ratings,the government’s senior unsecured MTN rating at (P)B1 and the issuer’s short-term Not Prime isuer rating. In a related rating action, Moody’s has changed the outlook on the rating [...]

Moody’s Investors Service says that while Mongolia (B1 stable) is one of the world’s fastest-growing economies with a wealth of natural resources, the country’s loose fiscal and monetary policies and fluctuating investment regime weigh on the quality of its credit.

Singapore, July 22, 2013 — Moody’s Investors Service has today adjusted the local currency (LC) country risk and foreign currency (FC) bond and deposit ceilings for Thailand, Oman, and Mongolia. The sovereign bond ratings are not affected by the changes in the ceilings.

Hong Kong, May 09, 2012 — The following release represents Moody’s Investors Service’s summary credit opinion on Trade and Development Bank of Mongolia LLC and includes certain regulatory disclosures regarding its ratings. This release does not constitute any change in Moody’s ratings or rating rationale for Trade and Development Bank of Mongolia LLC.

Moody’s Investors Service has placed on review for downgrade the ratings of four Mongolian banks.

The following release represents Moody’s Investors Service’s summary credit opinion on Mongolia, Government of and includes certain regulatory disclosures regarding its ratings. This release does not constitute any change in Moody’s ratings or rating rationale for Mongolia, Government of.

Moody’s Investors Service says that the outlook for Mongolia’s B1 local and foreign currency government bond ratings is stable. While the country’s economic outlook is bright over the long term, fiscal prospects are clouded by spending pressures in the near term. “Mongolia’s government bond ratings are premised upon Moody’s Sovereign Bond Methodology scores of low [...]

Moody’s Investors Service report on Mongolia discusses the rationale for maintaining a stable outlook for Mongolia’s B1 foreign currency and local currency bond ratings. Its foreign currency bond ceiling is Ba2. “In its four overall rating methodology factors, Mongolia shows low economic and institutional strengths, moderate government financial strength, and high event risk relative to [...]

Moody’s Investors Service has changed its outlook on Mongolia’s B1 government bond ratings as well as on its Ba2 and B2 foreign currency bond and bank deposit ceilings to stable from negative. “The rating action was supported by the government’s policy tightening which has contributed to a shoring-up of the country’s balance of payments, the [...]