Moody’s changes outlook on nine Mongolian banks to negative

Moody’s Investors Service said it changed the outlook to negative from stable and affirmed all ratings and assessments of the nine banks it rates in Mongolia.

The rating action follows the outlook change to negative from stable on the Mongolian government’s B3 issuer rating on Friday, the agency said.

The nine affected banks are Bogd Bank LLC, Capitron Bank LLC, Development Bank of Mongolia LLC, Golomt Bank LLC, Khan Bank LLC, State Bank LLC, Trade and Development Bank of Mongolia LLC, Transport and Development Bank LLC and XacBank LLC.

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