Moody's: Peru bond ratings' outlook to positive

Moody's Investors Service said it revised the outlook on Peru's Baa3 foreign- and local-currency government bond ratings to positive from stable.

The outlook change is the result of indications that favorable growth prospects will likely be sustained alongside continued improvement of Peru's fiscal and debt metrics, Moody's said, along with an expectation of policy continuity and improved predictability as a result of receding political risk.

The agency said it also placed a positive outlook on the Baa2 foreign-currency country ceiling and the Baa3 foreign-currency deposit ceiling.

The Peruvian economy has continued to show remarkable and enduring dynamism, Moody's said, and is well positioned to grow at rates above its potential thanks to increasing investment and strong mining prospects.

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