20 Dec 2011

S&P Raises Mongolia Outlook to Positive from Stable on Growth

Source: Bloomberg
Standard & Poor’s Ratings Services revised Mongolia’s outlook to positive from stable and affirmed the landlocked nation’s sovereign ratings, citing its growth prospects as more mines begin operations.
Mongolia’s long-term sovereign rating remains BB- and its short-term rating B, S&P said in a statement today. The outlook revision reflects expectations for a “significant” increase in real per capital gross domestic product through at least 2014, with S&P estimating the measure may more than double to $6,560 by 2014 from $2,973 this year, according to the statement.