Fitch rates Peru bond BBB-

Fitch Ratings said it assigned the Republic of Peru's $1 billion global bond issuance maturing on March 30, 2019 a BBB- rating.

The rating is in line with Peru's long-term foreign-currency issuer default rating of BBB-, which has a stable outlook.

Proceeds are expected to be used to pre-finance part of the 2010 financial requirements.

Peru's solid macroeconomic fundamentals have increased the economy's capacity to withstand a commodity price collapse, a recession in the world's advanced economies, as well as a reversal of capital and financial flows, the agency said.

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