Fitch rates Peru bond BBB-

Fitch Ratings said it assigned the Republic of Peru's PEN-denominated 30-year benchmark bond a BBB- rating. The bond will be payable in nuevos soles. The rating is in line with Peru's BBB- long-term local-currency issuer default rating.

The outlook is positive.

"The combination of declining foreign-currency denominated debt and rising international reserves has further reduced the country's vulnerability to external shocks, supporting Peru's creditworthiness," Theresa Paiz Fredel, senior director of Fitch's Latin American ratings team, said in a written statement.

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