Credit Rating of Ashid Capital NBFI LLC

MIRA has confirmed Ashid Capital NBFI LLC’s credit rating

MIRA has affirmed Ashid Capital NBFI LLC ratings at ‘BBB+’; the Rating Outlook is Evolving.

• Issuer Rating: BBB+ (Investment Grade)
• Simple I Bond Rating: BBB+ (Investment Grade)
• Simple II Bond Rating: BBB+ (Investment Grade)
• Outlook – Evolving

RATING SENSITIVITIES

Positive factors:

• Expand business operations without compromising asset quality
• Generate financial resources to sustain operations effectively
• Improvement in the borrower scoring model
• Maintenance of adequate liquidity and capital buffers.

Negative factors:

• Inability to deliver business expansion expectations
• Funding challenges leading to liquidity dilution
• Material capital erosion resulting in the depletion of buffers
• Leverage exceeding 3.0x
• Increase in the non-performing loan ratio

The rationale behind the Credit Rating and Outlook is available at Simple rationale EN | Mongolian Investment Rating Agency (mira.mn)

Principle Methodology & Rating Scales: The principal methodology used in these ratings was the NBFI Methodology published on the website. The Rating Scale and Definition is also available at Methodology | Mongolian Investment Rating Agency LLC (mira.mn)