Trade and Development Bank JSC's Proposed Senior Unsecured Notes Assigned 'B+' Rating

HONG KONG (S&P Global Ratings) June 30, 2026--S&P Global Ratings today assigned its 'B+' long-term foreign currency issue rating to Trade and Development Bank JSC's (TDB) proposed U.S. dollar-denominated senior unsecured notes. The rating is subject to our review of the final issuance documentation. We equalize the issue rating on the proposed notes with the long-term issuer credit rating on TDB (B+/Positive/B) because the notes will constitute unsecured and unsubordinated obligations of the bank. They will rank equally with all its other unsecured and unsubordinated obligations. TDB intends to use the net proceeds to fund ordinary business operations such as lending. The bank is Mongolia's third-largest bank in loans and second-largest in deposits as of end-2025. Criteria Financial Institutions

...June 30, 2026 HONG KONG (S&P Global Ratings) June 30, 2026--S&P Global Ratings today assigned its 'B+' long-term foreign currency issue rating to Trade and Development Bank JSC's (TDB) proposed U.S. dollar-denominated senior unsecured notes. The rating is subject to our review of the final issuance documentation. We equalize the issue rating on the proposed notes with the long-term issuer credit rating on TDB (B+/Positive/B) because the notes will constitute unsecured and unsubordinated obligations of the bank. They will rank equally with all its other unsecured and unsubordinated obligations. TDB intends to use the net proceeds to fund ordinary business operations such as lending. The bank is Mongolia's third-largest bank in loans and second-largest in deposits as of end-2025....

Ratings Action