July 9, 2020 / 8:26 AM / a month ago

BRIEF-S&P Says Mongolia's 'B' Ratings Affirmed, Outlook Stable

July 9 (Reuters) - S&P Global Ratings:

* S&P SAYS MONGOLIA ‘B’ RATINGS AFFIRMED, OUTLOOK STABLE

* S&P SAYS MONGOLIA’S COMMODITY-ORIENTED ECONOMY IS EXPERIENCING A CONSIDERABLE SLOWDOWN DUE TO THE COVID-19 PANDEMIC

* S&P - MONGOLIA’S STABLE OUTLOOK REFLECTS EXPECTATION THAT ECONOMIC SHOCK FROM COVID-19 WILL BE TEMPORARY, GROWTH WILL REBOUND OVER NEXT 12 MTHS

* S&P SAYS IT EXPECTS MONGOLIA’S GROWTH TO REBOUND STRONGLY OVER THE COMING YEARS, ALONGSIDE CHINA’S ECONOMIC RECOVERY.

* S&P - RATINGS ON MONGOLIA REFLECT COUNTRY'S MODEST PER CAPITA INCOME LEVEL, EVOLVING INSTITUTIONAL SETTINGS, AND ELEVATED EXTERNAL IMBALANCES Source text: bit.ly/2W1KPdp

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