Fitch upgrades Peru

Fitch Ratings said it upgraded Peru's foreign-currency issuer default rating to BBB, local-currency issuer default rating to BBB+ from BBB, foreign-currency short-term issuer default rating to F2 from F3 and country ceiling to BBB+ from BBB.

The outlook was revised to stable from positive.

The upgrade reflects the view that reduced uncertainty regarding macroeconomic policy continuity and changes to the fiscal contribution of the mining sector under president Ollanta Humala will continue to support the strength of the sovereign's external and fiscal accounts as well as Peru's robust macroeconomic performance, according to the agency.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.