S&P ups Intercorp Peru view to positive

Standard & Poor’s said it revised its outlook on Intercorp Peru Ltd. to positive from stable and affirmed the BB ratings on it.

The rating action follows S&P’s ordinary annual review.

The outlook revision primarily reflects Intercorp’s improved financial risk profile and the consolidation and business prospects of its retail arm, InRetail Peru Corp. (not rated), which in S&P’s opinion, will be the main growth driver for the company in the next few years, based on the recent IPO and the business opportunities in the Peruvian market, the agency said.

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