Fitch affirms Khan Bank, XacBank

Fitch Ratings said it affirmed Mongolia's Khan Bank and XacBank LLC's long-term foreign- and local-currency issuer default ratings at B+ and revised the outlooks to negative from stable.

These actions follow Fitch's revision of the outlook on the Mongolian Sovereign's B+ issuer default rating to negative from stable, Fitch said.

Khan Bank and XacBank's issuer default ratings are capped by the sovereign's ratings, the agency said.

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