S&P: Peru view to positive

Standard & Poor's said it revised the outlook on the Republic of Peru's foreign-currency rating to positive from stable, and affirmed its BBB- long-term foreign-currency and BBB+ long-term local-currency sovereign ratings.

The outlook remains stable.

The positive outlook reflects the steady improvement in the country's external indicators and government's

debt ratios, S&P said.

These improvements have been supported by low fiscal deficits and high economic growth with higher levels of investment and economic diversification, S&P said.

The agency said it expects Peru's net general government debt to reach 16% of GDP by the end of the year, the agency said.

Peru's economy is likely to grow at 7.5% in 2010 with little impact on inflation or significant deterioration in the country's external position, S&P said.

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