Research Update: Corporacion Financiera de Desarrollo S.A. Rated 'BBB-/A-3'; Outlook Stable Feb 10

Standard & Poors, February 2010

Abstract
Development bank COFIDE is a government-related entity with an important role in developing Peru's infrastructure. We are assigning a 'BBB-/A-3' counterparty credit rating to COFIDE with a stable outlook. We expect the bank to maintain healthy asset-quality indicators and strong capitalization during the next two to three years. On Feb. 5, 2010, Standard & Poor's Ratings Services assigned its 'BBB-/A-3' counterparty credit rating to Corporacion Financiera de Desarrollo S.A. (COFIDE). The outlook is stable. Our rating on COFIDE reflects its strong capitalization, sound asset-quality indicators, good access to funding, and the bank's role as an important public policy instrument of the Peruvian government. We consider COFIDE a government-related entity, with an important role supplying resources for infrastructure projects across Peru...

Companies mentioned in this report are: Corporacion Financiera de Desarrollo S.A.,Peru (Republic of)
Action: New Rating
Action: Outlook: Stable

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Corporacion Financiera de Desarrollo S.A.,Peru (Republic of)

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