Ulaanbaatar
Moody’s Upgrades Mongolia’s Long-Term Issuer Rating to B1 with Stable Outlook
Economy
Ulaanbaatar, October 20, 2025 /MONTSAME/. Moody’s has upgraded Mongolia’s long-term issuer and senior unsecured ratings to B1 from B2 for 2025, with a stable outlook. This marks the highest credit rating assigned to Mongolia by Moody’s since 2014.
The upgrade is attributed to sustained economic growth, improved debt management, strengthened fiscal discipline, and a more diversified export structure.
Moody’s acknowledged that Mongolia’s economic performance has become less vulnerable to commodity price fluctuations and has continued traction on reforms in governance and institutional effectiveness.
This is the second consecutive year Moody’s has raised Mongolia’s credit rating. The improved rating is expected to increase the value of government bonds, reduce the cost of capital from international markets, enhance investor confidence, and reinforce financial stability. It also creates favorable conditions for commercial banks and private sector companies to benefit from potential rating improvements.
As long-term issuer and senior unsecured ratings directly influence the ability of governments, financial institutions, and businesses to attract foreign investment and reduce borrowing costs, this upgrade is a key indicator of Mongolia’s economic development and long-term growth potential.
