S&P rates Mongolian Mining notes B+

Standard & Poor's said assigned a B+ long-term corporate credit rating to Mongolian Mining Corp. and a B+ rating to the proposed issue of senior notes due 2017.

The outlook is stable.

"The rating on MMC reflects the company's mineral concentration to coking coal, customer concentration risks, and its exposure to an untested and evolving regulatory environment in Mongolia (BB-/positive/B)," S&P credit analyst Xavier Jean said in a statement.

"The company's reduced project development risk, first-quartile cost position, and moderate debt levels partly offset these limitations.

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