Ratings service downgrades Mongolia’s outlook | Ubpost News: "Standard & Poor’s Ratings Services announced Tuesday that it has revised its rating outlook on Mongolia from “stable” to “negative.” The ratings service company also affirmed the “BB-“ long-term and “B” short-term sovereign credit ratings on Mongolia and affirmed its “BB-“ issue rating on the country’s senior unsecured notes. The “BB” transfer and convertibility (T&C) assessment on Mongolia is unchanged.
“We revised the outlook on Mongolia to negative to reflect our opinion that higher policy risk has increased the chances of a downgrade to more than one-in-three for the country over the next six to 18 months,” said Standard & Poor’s credit analyst Agost Benard. “Mongolia’s fiscal and external profiles could deteriorate materially over the next year or two in the absence of a significant improvement in policymaking regarding government borrowing, public spending, and the business environment.”"
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