Moody's: Peru strength moderate

In its annual report on Peru, Moody's Investors Service said the country's Baa3 foreign-currency government bond rating incorporates moderate economic strength that reflects the medium size of the economy and its relative dependence on commodity-based activities.

The ratings incorporate high government financial strength reflected in a strong commitment to conservative policies that have led to moderate government deficits and declining debt ratios, Moody's said.

The country enjoys favorable medium-term growth prospects and evidence of increased shock-absorption capacity, the agency said.

The ratings are constrained by a GDP per capita that lags behind the average for Baa-rated countries, the agency said.

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