Fitch rates Peru bond BB-

Fitch Ratings said it assigned a long-term foreign currency rating of BB- to the Republic of Peru's €650 million 10-year bond issue. The outlook is positive.

Fitch said strong metals pricing and sound global demand is also supporting solid export growth, which is helping to narrow Peru's gross external financing requirement to an estimated 26% of reserves.

Economic growth and fiscal consolidation has proceeded in spite of the challenging political environment, while policy settings remain prudent, according to Fitch.

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