S&P: Peru view up to positive

Standard & Poor's said it revised its outlook on its ratings on the Republic of Peru to positive from stable.

At the same time, S&P said it affirmed its BB long-term foreign currency, BB+ long-term local currency and B short-term sovereign credit ratings on the republic.

The agency also said that it assigned its BB+ local currency rating to the Peruvian Nuevos soles 1.5 billion bonds due in 2017 issued by Peru on July 7 as part of its overall strategy to exchange external debt held with the Paris Club.

S&P said the change reflects growing prospects that the improvement in Peru's economic and fiscal profile in recent years will continue over the medium term, notwithstanding a potential cyclical downturn in commodity prices.

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