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Bulletin: Ratings On Two Peruvian Banks Unaffected By Upgrade Of Sovereign Jul 08
Standard & Poors, July 2008
Abstract
BUENOS AIRES (Standard & Poor's) July 14, 2008--Standard & Poor's Ratings Services said today that the upgrade of the Republic of Per- will not have an immediate effect on the counterparty credit ratings on Banco de Cr-dito del Peru (BBB-/Stable/A-3) and Banco Continental S.A. (BBB-/Stable/A-3). We raised the long-term foreign-currency credit rating on the Republic of Per- to 'BBB-' from 'BB+' and the long-term local-currency rating to 'BBB+' from 'BBB-'. The upgrade is due to the significant decline in Peru's fiscal and external vulnerabilities amid high and diversifying sources of growth, low inflation, and strengthening macroeconomic fundamentals (see 'Peru Long-Term Foreign Currency Rating Raised To Investment-Grade 'BBB-', Outlook Stable' published July 14, 2008, on Ratings Direct). The improving fundamentals that...
Companies mentioned in this report are: Banco de Credito del Peru,Banco Continental S.A.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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