3,417.19
B.
Batbayar, director general of the financial and economic policy department of
Mongolia, has said the Government has scaled back its plans for global bond
sales this year, after Europe’s debt crisis drove up borrowing costs. The
Government still plans to raise USD500 million from bonds this year and the
remainder of its USD1.2 billion program according to market conditions.
“The Greek and European countries’ sovereign debt crisis has some impact on
us,” O. Chuluunbat, MP, told the Frontier Securities Mongolia Capital Raising
Conference. “We will have to go for higher rates if we go global.”
Mongolia is rated B1 by Moody’s Investors Service, four levels below investment
grade and on par with Fiji and Papua New Guinea. Standard & Poor’s rates
the nation BB-, the third-highest non-investment ranking.
Batbayar, director general of the financial and economic policy department of
Mongolia, has said the Government has scaled back its plans for global bond
sales this year, after Europe’s debt crisis drove up borrowing costs. The
Government still plans to raise USD500 million from bonds this year and the
remainder of its USD1.2 billion program according to market conditions.
“The Greek and European countries’ sovereign debt crisis has some impact on
us,” O. Chuluunbat, MP, told the Frontier Securities Mongolia Capital Raising
Conference. “We will have to go for higher rates if we go global.”
Mongolia is rated B1 by Moody’s Investors Service, four levels below investment
grade and on par with Fiji and Papua New Guinea. Standard & Poor’s rates
the nation BB-, the third-highest non-investment ranking.
