Moody's rates Scotiabank Peru notes Baa2

Moody's Investors Service said it assigned a Baa2 foreign currency subordinated debt rating to up to $400 million of dollar-denominated notes due in 2027 to be issued by Scotiabank Peru SAA.

The notes are expected to be eligible for Tier II regulatory capital treatment under Peruvian banking regulations and will be governed by the laws of the State of New York.

Moody's said the Baa2 subordinated debt rating is on review for possible downgrade in line with the review for downgrade on the bank's Baa1 long term local currency deposit rating, following a similar action on the standalone ratings of its 97.7% parent, the Bank of Nova Scotia.

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