Moody's rates IFH Peru notes Ba3

Moody's Investors Service said it assigned a Ba3 global scale foreign-currency bond rating to IFH Peru Ltd.'s proposed debt issuance of about $100 million 10-year senior notes.

The outlook is stable.

The notes represent the second series of its 8.625% senior notes due 2019 denominated and payable in U.S. dollars.

With this issuance, the total amount of notes outstanding would be $250 million, Moody' said.

The ratings were based on its robust and improving dividend contributions expected for the company under both expected and highly stressed earnings scenarios, the agency said.

It also considers the company's strong franchise value and financial metrics of its main operating subsidiaries, particularly Interbank and Interseguro, Moody's said.

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