Moody's downgrades Mongolia's rating to Caa1; changes outlook to stable
Singapore, November 18, 2016-- Moody's Investors Service has downgraded Mongolia's government long-term issuer and senior unsecured ratings to Caa1 from B3 and the senior unsecured MTN rating to Caa1 from B3 as well as affirming the NP short-term issuer rating. A stable outlook was assigned concluding the review for downgrade opened on 26 August 2016.. Moody's decision to downgrade Mongolia's issuer and bond ratings to Caa1, from B3, is driven by the following factors:.
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