Good market position in Mongolia's banking industry Adequate funding and liquidity profiles Concentration risk to the real estate, construction and mining sectors High portion of foreign-currency lending The stable outlook on Trade and Development Bank of Mongolia LLC (TDB) reflects our stable economic and industry risk trend for Mongolia's banking system. In addition, we believe the bank will maintain its overall credit profile over the next 12-24 months, sustain its strong market position in Mongolia, and keep credit costs under tight control. We could upgrade TDB if the bank improves and sustains its capitalization with a risk-adjusted capital (RAC) ratio above 3% in the coming two years, or if the bank significantly improves and maintains its asset quality measures and
