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Economy | 2 April, 2008 [ 15:00 ]

Fitch Upgrades Peru to Investment Grade


'Peru's public finance and external account performance once again exceeded expectations, contributing to a better than anticipated improvement in the sovereign's financial ratios.

As a result, most of Peru's financial indicators are now stronger than the median for low investment grade credits.

Furthermore, it is important to highlight an incipient structural shift in the drivers of Peru's economic growth, as the most dynamic growth rates now stem from the non-primary sectors,' said Paiz-Fredel.

Fitch upgraded Peru's long-term foreign currency Issuer Default Rating (IDR) to 'BBB-' from 'BB+' and its long-term local currency rating to 'BBB' from 'BBB-'. The Rating Outlook on these ratings is Stable. Fitch also upgraded Peru's short-term IDR to 'F3' from 'B' and its Country Ceiling to 'BBB' from 'BBB-'.

Official press release

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4 Comments

# carl says :
2 April, 2008 [ 20:53 ]

Without doubt we are in the right direction.

ARRIBA PERU

# C. Rhor. says :
3 April, 2008 [ 08:06 ]

If so, why can't we afford to buy as we used to a year ago.  Again, I perceive the media manipulate our vision and we can easily become blindfolded.

# carl says :
3 April, 2008 [ 20:24 ]

Inflation, we used to have the worst. We are get used to.

But we are growing and more investment is coming so jobs for more people.

# Jose says :
8 April, 2008 [ 08:54 ]

It is true that with this "gift" we can start our path of sustained growth for all our citizens. But we have to understand that we can to take care of this reward and use it properly, otherwise it will take us nowhere. Goverment policies for the long term have to be strong, I just hope the next president will continue this, that way we will indeed get the AA rating.
S&P and Moody's, here we come!!

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