Fitch affirms Peru's ratings

Fitch Ratings said it affirmed Peru's sovereign ratings, including the long-term foreign currency IDR at BBB+, the long-term local currency IDR at A-, the senior unsecured foreign- and local-currency bonds at BBB+ and A-, the short-term foreign and local currency IDRs at F2 and F1, respectively, and the country ceiling at A-.

Fitch said Peru's creditworthiness is underpinned by its track record of macro policy credibility, consistency, and flexibility, which has delivered macroeconomic and financial stability. Strong fiscal and external balance sheets balance the country's high commodity dependence, low government revenue base, financial dollarization and structural constraints in terms of income per capita, social indicators and institutional quality, the agency added.

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