S&P: Golomt stable

Standard & Poor's said it revised the outlook on its long-term issuer credit rating on Golomt Bank of Mongolia to stable from positive.

At the same time, the agency said it affirmed the B+ long-term and B short-term issuer credit ratings on the bank.

The agency revised the outlook after similarly revising the outlook on the sovereign credit rating on Mongolia on Oct. 29.

S&P said the outlook revision reflects its view that there is a diminishing likelihood that the creditworthiness of Golomt Bank could benefit from extraordinary support from the Mongolian government over the next 12 months.

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