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Moody's maintains Peru's credit rating despite adverse factors

Moody’s

00:00 | Lima, Nov. 7.

Peru's credit rating (A3 investment grade) remains unchanged despite difficulties the Andean country faced in 2017, Moody's Sovereign Risk Group Vice President Jaime Reusche highlighted.

"The fact of maintaining the [A3] rating, despite everything that has happened, is important," he expressed.

According to Reusche, said adverse factors include fiscal space reduction, private investment decline, as well as Coastal El Niño phenomenon and corruption scandals.

"Notwithstanding adverse factors, we notice there is a high-potential growth of 4%," he pointed out.

Stable outlook

During his participation in a panel discussion hosted by Andina news agency and El Peruano official newspaper, the analyst underlined Moody's does not foresee any change in Peru's projections.

It must be noted Moody's Investors Service maintained Peru's credit rating on A3 investment grade with a stable outlook last August.

"Peru's credibility is a top-tier asset, for which we maintain its rating stable," he assured.

Likewise, Reusche affirmed the country's structural problems are the same obstacles, which affect its rating and growth.

(END) JAA/MVB

Publicado: 7/11/2017