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Moody's rates Mongolia notes B1
Moody's Investors Service said it assigned a definitive B1 rating to the $500 million note due Jan. 5, 2018 and the $1 billion note due Dec. 5, 2022 under the Government of Mongolia's $5 billion global medium-term note program.
The outlook is stable.
Mongolia's B1 government bond rating is consistent with Moody's methodology scores of low economic and institutional strengths, moderate government financial strength and high event risk.
The agency said that Mongolia's rating has been constrained by susceptibility to destabilizing boom-bust cycles stemming from: (a) An undiversified, dual mining/agricultural economy subject to global price volatility and supply shocks; and (b) pro-cyclical, inflationary monetary and fiscal policies.
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