Peru's rated nonfinancial and infrastructure companies enter the next two years from an overall position of strength, with economic activity improving amid strong private investment and continued demand for the country's mining exports, according to a report by Moody's Ratings.
It noted that Peru's economic activity is improving amid strong private investment and continued demand for the country's mining exports, conditions that support nonfinancial and infrastructure companies through 2027.
"Improving economic activity, strong private investment and continued demand for mining exports all support Peru's nonfinancial and infrastructure companies through 2027," Moody's indicated.
However, it considered that a historically strong El Niño warming in the Pacific Ocean through early 2027 threatens to disrupt mining activity and power generation, among other sectors.
Strengths
Moody's said the new administration will preserve the country's existing macroeconomic framework and maintain its key institutional strengths, including central bank independence, reducing the likelihood of material policy disruptions.
It indicated that Peruvian nonfinancial companies and infrastructure firms will continue to generate positive free cash flow (FCF) through 2028, reflecting their general focus on profitability, while their liquidity remains adequate overall.
Mining capital
Moody's said Peru's political and regulatory environment supports ongoing construction of large mining investments.
"Copper fundamentals have long-term market backing from electrification and energy transition needs, and support from the new Fujimori administration," the credit rating agency stated.
It further noted that Peru's improving consumer confidence and still sound purchasing power will also continue to bolster consumer-oriented companies.
Improved post-election confidence and economic growth will boost power and infrastructure companies in 2026-27.
Energy consumption
Moody's said stronger domestic demand, renewed private investment and a sharper focus on infrastructure execution benefit electricity consumption, particularly in service to highly power-intensive mining, construction and industrial activity.
In this regard, it noted that infrastructure opportunities include renewable power generation, transmission infrastructure, and natural gas networks.
Generators and distribution companies will benefit from higher demand, stronger dispatch prospects, and eventually more supportive pricing, it underscored.
El Niño phenomenon
The Moody's Ratings report considers that the intensification of El Niño conditions through early 2027 poses a key near-term risk for Peru's economy and credit environment in 2026-27.
"The risks from weather-related disruptions are particularly significant for sectors that depend heavily on stable infrastructure and weather patterns, including fishing, agriculture, tourism, mining, infrastructure and transportation," it noted.
Moody's warned that weaker hydropower generation would increase reliance on gas-fired power, and even diesel generation in stressed conditions, raising spot-price volatility, as well as testing fuel-supply and transmission strength.
(END) NDP/SDD/MVB
Publicado: 24/9/2026