Ratings On Mongolia Banks Lowered On Rising Economic Risks; Outlook Stable

We believe that Mongolia's economic risk has heightened substantially stemming from the significant slowdown in the country's economic performance and outlook. We have lowered our economic risk score and BICRA on Mongolia to '10' from '9'. We are lowering our long-term issuer credit ratings on DBM, TDB, and Golomt, and affirmed the short-term issuer credit ratings on these banks. The stable outlooks on TDB and Golomt Bank reflect our views that the banks will likely maintain their financial profiles for the coming 12-18 months. The stable outlook on DBM reflects that on Mongolia. HONG KONG (Standard&Poor's) Nov. 3, 2015--Standard&Poor's Ratings Services said today that it had lowered the long-term issuer credit ratings on the three banks

...+ We believe that Mongolia's economic risk has heightened substantially stemming from the significant slowdown in the country's economic performance and outlook. + We have lowered our economic risk score and BICRA on Mongolia to '10' from '9'. + We are lowering our long-term issuer credit ratings on DBM, TDB, and Golomt, and affirmed the short-term issuer credit ratings on these banks. + The stable outlooks on TDB and Golomt Bank reflect our views that the banks will likely maintain their financial profiles for the coming 12-18 months. The stable outlook on DBM reflects that on Mongolia. HONG KONG (Standard & Poor's) Nov. 3, 2015--Standard & Poor's Ratings Services said today that it had lowered the long-term issuer credit ratings on the three banks it rates in Mongolia. The outlook is stable. These banks are Development Bank of Mongolia (DBM), Trade and Development Bank of Mongolia LLC (TDB), and Golomt Bank of Mongolia. We affirmed the short-term issuer credit ratings on these banks and...

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