Fitch assigns BBB to Fondo Mivivienda

Fitch Ratings said it assigned BBB ratings to Fondo Mivivienda SA (FMV) and its senior unsecured notes. The outlook is negative.

FMV’s local- and foreign-currency ratings are equalized with that of Peru. “The ratings reflect Fitch's assessment of the Peruvian government's high propensity and ability to provide timely support to FMV, if needed. Fitch's view of support reflects FMV playing a key policy role in implementing economic development policies related with the housing shortage, although there is no explicit guarantee. The agency also considers FMV fully owned by the state and has many operational and financial synergies with the public administration,” the agency said in a press release.

The outlook reflects the negative outlook on Peru, Fitch said.

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