January 30th, 2017. Moody’s Investors Service (www.moodys.com) has upgraded Xacbank’s issuer rating to B3 from Caa1 with a stable outlook. The assignment upgrade has made XacBank one of Mongolia’s top-rated banks.
Moody’s Investor Service has highlighted in the report that XacBank's B3 issuer rating is in line with the Bank's B3 Baseline Credit Assessment. The rating upgrade is amongst others a reflection of improvement of the bank's asset quality and recent upgrade in the Government of Mongolia's rating to B3 (outlook: stable) from Caa1 on 18 January 2018.
Fitch Ratings Agency revised the outlook on XacBank’s Long-Term Issuer Default Rating (IDR) to Positive from Stable in November 2017 as well.
The Bank’s Baseline Credit Assessment rating upgrade reflects investors’ expectations and will help the bank attract long-term and stable funding from diverse international sources. In particular, this will strengthen the Bank's credit risk as well as its lending to small- and medium-sized enterprises.
January 30th, 2017. Moody’s Investors Service (www.moodys.com) has upgraded Xacbank’s issuer rating to B3 from Caa1 with a stable outlook. The assignment upgrade has made XacBank one of Mongolia’s top-rated banks.
Moody’s Investor Service has highlighted in the report that XacBank's B3 issuer rating is in line with the Bank's B3 Baseline Credit Assessment. The rating upgrade is amongst others a reflection of improvement of the bank's asset quality and recent upgrade in the Government of Mongolia's rating to B3 (outlook: stable) from Caa1 on 18 January 2018.
Fitch Ratings Agency revised the outlook on XacBank’s Long-Term Issuer Default Rating (IDR) to Positive from Stable in November 2017 as well.
The Bank’s Baseline Credit Assessment rating upgrade reflects investors’ expectations and will help the bank attract long-term and stable funding from diverse international sources. In particular, this will strengthen the Bank's credit risk as well as its lending to small- and medium-sized enterprises.