ULAN BATOR, Oct. 17 (Xinhua) -- Moody's Ratings has upgraded the government of Mongolia's long-term issuer and senior unsecured ratings to B1 from B2 with a stable outlook, the Eagle News TV channel reported on Friday, citing the agency's statement.
The upgrade of Mongolia's ratings to B1 reflects the agency's expectation of more stable economic growth, underpinned by ongoing steps to diversify the commodity mix and improvements in policy effectiveness, particularly related to liability management and other fiscal reforms, Moody's said.
According to the agency, the stable outlook also incorporates the view that external liquidity risks will remain elevated but manageable. "We expect that the government will maintain market access at costs that are not prohibitive, containing liquidity risks to levels consistent with a B1 rating," it said.
In September, Fitch Ratings affirmed Mongolia's long-term foreign-currency issuer default rating at "B+" with a stable outlook.
Fitch has predicted that Mongolia's real GDP growth will pick up to 5.7 percent this year, driven by an agricultural recovery after two harsh winters.
The country's GDP grew 5.6 percent in the first half of 2025, according to the National Statistics Office. ■
