Pages

Wednesday, November 6, 2013

[BREAKING: Moody's withdraws ratings of Golomt Bank due to "lack of sufficient information"]

Please click Display Images or Download Pictures to properly view this newswire

BREAKING NEWS: Wednesday, November 6, 2013

Follow the news on Facebook, Twitter and view archive here

 

Moody's withdraws the ratings of Golomt Bank

Hong Kong, November 05, 2013 -- Moody's Investors Service has withdrawn the ratings of Golomt Bank because it believes it currently does not have sufficient or otherwise adequate information to support the maintenance of the rating.

RATINGS RATIONALE

Moody's has withdrawn the rating because it believes it has insufficient or otherwise inadequate information to support the maintenance of the rating. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

The ratings withdrawn are

      E+ standalone bank financial strength rating (equivalent to a b1 baseline credit assessment, BCA);

      B1 issuer rating;

      B1 local currency long-term deposit rating;

      B2 foreign currency long-term deposit rating

Domiciled in Ulaanbaatar, Golomt Bank reported total unaudited IFRS assets of MNT2.5 trillion (USD1.8 billion) as of 31 December 2012. The bank is 84.6% owned by Bodi International LLC (unrated) --- the immediate holding company of the Bodi Group in Mongolia -- 10.1% by Swiss MO Investment AG (unrated), and 5.0% by Trafigura Beheer B.V. (unrated).

Link to release

 

---

Munkhdul Badral Bontoi

Founder & CEO

Email: mogi@covermongolia.mn

Mobile: +976 9999 6779

Skype: mogibb

P Please consider the environment before printing this e-mail.

 

 

No comments:

Post a Comment