December 7, 2016 / 4:56 PM / 8 months ago

BRIEF-Moody's says sharp deterioration in fiscal, external positions underpin Mongolia's Caa1 rating

Dec 7 (Reuters) - Moody's:

* Moody's says sharp deterioration in fiscal and external position underpin Mongolia's Caa1 rating, despite strong medium-term growth potential

* Banks' credit profiles are under pressure,expect continued deterioration in asset quality,liquidity,capitalization in next few months

* Expects real GDP growth to average zero this year, before picking up modestly to 1.0% in 2017 and 3.5% in 2018

* Success in securing bilateral, multilateral support would stabilize government's liquidity & economy's external positions for a period

* Expect very large fiscal deficits to remain in 2017 and 2018 Source text for Eikon:

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