Standard & Poor's Global Ratings has released its ninth stablecoin stability assessment report, focusing on the stability of Mountain Protocol's stablecoin, USDM. The assessment evaluated the stablecoin's ability to maintain its peg, with USDM receiving a rating of 3, which is considered "adequate". Standard & Poor's Global Ratings evaluates many aspects of stablecoins, including credit risk, market risk, custody risk, reserve funds, robustness of the liquidation mechanism, and available excess collateral. Other factors such as governance, regulatory framework, and third-party dependencies are also considered. The company then scores these standards, with 1 representing "very strong" and 5 representing "weak". Previous stablecoins assessed include USDC at 2 (strong), Tether at 4 (restricted), and DAI at 4 (restricted).