S&P lowers Intercorp Peru view to stable

Standard & Poor’s said it affirmed the BB corporate credit rating on Intercorp Peru Ltd., along with the BB rating on its $250 million Rule 144 A/Regulation S senior unsecured notes due 2025 and 301.5 million in Peruvian nuevo sol private placement due 2030.

The outlook also was revised to stable from positive.

The outlook revision reflects the continued negative outlook on Banco Internacional del Peru-Interbank, Intercorp’s largest dividends contributor, S&P said.

The outlook change also considers the performance of InRetail, which still is not contributing to asset quality improvement at Intercorp, the agency said.

The current global- and regional macro-economic slowdown and foreign-exchange volatility also affect the bank’s ratings and outlook, S&P added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.