Published date: 12/12/2016
During the review visit to Mongolia in November 2016, Standard and Poors stated B- rating with a stable outlook could remain until second half of 2017. The current rating reflects Mongolia's low-income resource-driven economy, emerging policy environment and fiscal performance, high external risk, and limited monetary flexibility. This balances the prospect that large mining projects could quickly provide support to Mongolia's sovereign credit profile during the next 12 months.
Upward pressure could build on the rating if the development of the large scale mines accelerates economic growth and improves fiscal and external performances.
All rating agencies stated that the Mongolian medium to long term outlook is very positive.