Moody's lifts Peru bonds

Moody's Investors Service said it upgraded the government of Peru's foreign- and local-currency long-term bond ratings to Baa2 from Baa3. The outlook remains positive.

The upgrade reflects Peru's reduced susceptibility to political event risk, continuing robust economic growth and sound fiscal performance, sustained improvement of government debt metrics and lower exposure to foreign currency denominated debt.

While Peru's new president, Ollanta Humala, has sought to increase the government's focus on social inclusion, he has demonstrated his commitment in the year since he took office to maintaining prudent fiscal and macroeconomic policies and to supporting the continued development of the mining industry, the agency said.

© 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.