S&P revises outlook on Mongolia to negative on policy implementation risk

HONG KONG - Standard & Poor's has revised its rating outlook on Mongolia to negative from stable- but affirmed its 'B+' long-term and 'B' short-term sovereign credit ratings and its 'B+' issue rating on the country's senior unsecured notes. The 'BB-' transfer and convertibility (T&C) assessment on Mongolia is unchanged.

S&P says pressure from Mongolia's fiscal and current account deficits is
growing and it is unlikely to subside without swift corrective policies.

“The negative outlook indicates that we could lower our ratings on the Ggovernment this year or early next year if the grand coalition's recent
policy measures do not correct the country's external and fiscal imbalances,” S&P says. www.standardandpoors.com (ATI).