S&P might lower Intercorp

S&P said it placed its BBB- long- term corporate credit and issue-level ratings on Intercorp Peru Ltd. on CreditWatch with negative implications.

The agency said the CreditWatch listing follows a similar action on InRetail Consumer because it is the largest operating subsidiary within Intercorp's retail investments, which account for about 26% of Intercorp's total portfolio value.

As a result, a potential weakness in the creditworthiness of the investee company would undermine the asset credit quality of Intercorp, S&P said.

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