S&P lifts 5 Peru banks

Standard & Poor's said it raised the short-term ratings on five Peruvian banks to A-2 from A-3.

Those banks include Banco Continental SA, Banco de Credito del Peru, Corporacion Financiera de Desarrollo SA, MiBanco, Banco de La Microempresa SA and Scotiabank Peru SAA.

The ratings on these financial institutions are at the same level as on Peru, S&P said, and the upgrade does not reflect an improvement in the view of these banks' short-term creditworthiness.

All of the other ratings and outlooks on these banks remain unchanged, the agency said.

The upgrades mirror the same rating action the agency took on the short-term foreign-currency rating on Peru, reflecting a change in the criteria on the linkage between the long- and short-term ratings on sovereigns, S&P said.

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