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Grupo ACP Inversiones y Desarrollo

  • Published: April 2011
  • Standard & Poors

Abstract
Adequate liquidity position Good market position in the Peruvian microfinance sector through its ownership stake in MiBanco, Banco de La Microempresa S.A. Heavy reliance on MiBanco's dividends for debt repayment Aggressive growth strategy Standard & Poor's Ratings Services' 'BB-' counterparty credit rating on Grupo ACP Inversiones y Desarrollo reflects its heavy reliance on dividends from Peru-based MiBanco, Banco de La Microempresa S.A. (BB+/Stable/B), and the group's aggressive business expansion. However, the rating also reflects Grupo ACP's focus on the microfinance segment, mainly in Peru, amid favorable prospects for the Peruvian banking system. The group's leverage remains adequate for the rating. Grupo ACP's portfolio is heavily weighted toward MiBanco, which accounts for 72% of the group's total cash. MiBanco's relatively good...

Companies mentioned in this report are: Grupo ACP Inversiones y Desarrollo,MiBanco, Banco de La Microempresa S.A.
Action: Review

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Grupo ACP Inversiones y Desarrollo,MiBanco, Banco de La Microempresa S.A.

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