TDBM's Proposed MTN Drawdown Assigned 'B' Rating

HONG KONG (S&P Global Ratings) May 7, 2019--S&P Global Ratings today assigned a 'B' long-term issue rating to a proposed issue of U.S. dollar-denominated senior unsecured notes under the Trade and Development Bank of Mongolia LLC's (TDBM; B/Stable/B) US$1 billion medium-term note (MTN) program, which has increased to US$1 billion from the previous US$500 million. The rating on the notes is subject to our review of the final issuance documentation. The notes will be direct, general, unconditional, unsubordinated, and unsecured obligations of TDBM. They will at all times rank equally and without any preference among themselves. The bank intends to use the proceeds to refinance its existing debt and for general corporate purposes. Criteria Financial Institutions General: Risk-Adjusted

...May 6, 2019 HONG KONG (S&P Global Ratings) May 7, 2019--S&P Global Ratings today assigned a 'B' long-term issue rating to a proposed issue of U.S. dollar-denominated senior unsecured notes under the Trade and Development Bank of Mongolia LLC's (TDBM; B/Stable/B) US$1 billion medium-term note (MTN) program, which has increased to US$1 billion from the previous US$500 million. The rating on the notes is subject to our review of the final issuance documentation. The notes will be direct, general, unconditional, unsubordinated, and unsecured obligations of TDBM. They will at all times rank equally and without any preference among themselves. The bank intends to use the proceeds to refinance its existing debt and for general corporate purposes....

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