Moody's gives B3 to Mongolia notes

Moody's Investors Service said it gave a B3 rating to the government of Mongolia’s planned senior unsecured dollar-denominated notes.

“The ratings mirror Mongolia's issuer rating of B3 with a stable outlook,” Moody’s said in a press release.

The proceeds will be used to fund a tender offer to repurchase a portion of its bonds maturing in 2022 and 2023.

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