The ratings agency Standard & Poor’s (S&P) affirmed its long-term sovereign credit rating for Mongolia at “B-” and its short-term sovereign credit rating of “B” with a stable outlook. 

S&P warned about risks in revenue generation, despite positive performances in economic and budget indicators due to commodity price increases.

As there remains a need to improve institutional governance, S&P has left its credit ratings for Mongolia unchanged. According to S&P, Mongolia’s ratings could rise if the country’s economy performs better than the agency’s projections for the coming year.

However, S&P warned that it would lower its ratings for Mongolia in the case of negative performances in external sectors and if government debt rises. S&P analysts have projected that Mongolia’s GDP will grow by five percent in 2018.

Source: BloombergTv.mn