Economy & Business

S&P Upgrades Mongolia’s Credit Rating

Unread Media

30 Oct 2025 — 1 min read

Image: montsame.mn

Global rating agency S&P has upgraded Mongolia’s sovereign credit rating from “B+, Positive” to “BB-, Stable.” This improvement is expected to lower the country’s international borrowing costs and strengthen investor confidence.

This marks Mongolia’s highest rating in 13 years. Recently, Fitch and Moody’s had also announced upgrades to Mongolia’s credit outlook.

According to S&P, several key factors contributed to the decision:

Since 2022, budget performance has improved significantly, driven by strong mining exports.
Stable economic growth and prudent debt management have reduced the country’s debt-to-GDP ratio.
The fiscal deficit is projected to remain relatively low in the coming years.

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