S&P affirms Banco Continental

Standard & Poor's said it affirmed Banco Continental SA's BBB- ratings.

The outlook is positive.

The BBB-/A-3 counterparty credit ratings on Banco Continental reflect the bank's strong market position as the second-largest player in the Peruvian financial system as well as its sound management team and solid financial risk profile, S&P said.

The ratings also consider the risks inherent to the Peruvian economy, which still has a relatively high poverty level, and the still-high competitive pressures in the banking system, the agency said.

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