Fitch assigns Mongolia's proposed USD bond a 'B' rating

AKIPRESS.COM - Fitch Ratings said it has assigned Mongolia's (B/Stable) proposed US dollar bonds a 'B' rating. Proceeds from the proposed bonds will be used to refinance bonds maturing in 2021 and 2022 through a cash tender offer.
The rating is in line with Mongolia's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B' with a Stable Outlook.
Fitch affirmed Mongolia's Long-Term Foreign- and Local-Currency IDRs on 28 May 2020.