S&P upgrades Mongolian banks

S&P said it raised its long-term issuer credit ratings on four financial institutions operating in Mongolia.

Trade and Development Bank of Mongolia LLC, Golomt Bank of Mongolia, Development Bank of Mongolia and Mongolian Mortgage Corp. HFC LLC were upgraded to B from B-.

The upgrades reflect an accelerated economic recovery that should improve Mongolia's overall banking performance, including asset quality metrics, S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.