S&P elevates Mongolia rating

S&P said it raised its long-term sovereign credit rating on Mongolia to B from B-. The outlook on the long-term rating is stable.

At the same time, the agency affirmed its B short-term credit rating on Mongolia and revised upward the transfer and convertibility (T&C) assessment to B+ from B.

“The stable outlook balances our expectation that Mongolia's strong macroeconomic outlook fuels continued, yet gradual, improvement in its external and debt settings over the next 12 months while the government continues to pursue prudent economic and fiscal policies,” S&P said in a news release.

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