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S&P cuts rating on Mongolia to 'B' from 'B plus'
November 3, 2015 / 10:38 AM / 2 years ago

S&P cuts rating on Mongolia to 'B' from 'B plus'

Nov 3 (Reuters) - Standard and Poor’s cut its rating on Mongolia by a notch to ‘B’ from ‘B plus’, citing weak fiscal and external performance.

"Lower economic growth will increase Mongolia's vulnerabilities arising from its high twin deficits," the rating agency said on Tuesday. (bit.ly/1l5MfP6)

S&P, however, raised its outlook on the country to ‘stable’ from ‘negative’, saying it balances the country’s low-income resource-driven economy with the prospect of large mining projects reversing sovereign credit profile in a year. (Reporting by Rishika Sadam in Bengaluru)

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