Fitch assigns BBB to Peru bank notes

Fitch said it assigned an expected BBB rating to Banco de Credito del Peru SA's upcoming senior unsecured fixed-rate notes for an amount and tenor to be set. The notes could be denominated in U.S. dollars or Peruvian soles.

“The expected rating assigned to BCP's new issuance corresponds to the company's long-term foreign-currency issuer default rating (IDR), as the notes are senior unsecured, unsubordinated obligations that will rank pari passu in right of payment with all of the bank's existing and future senior unsecured indebtedness,” Fitch said in a press release.

The proceeds will be used for general corporate purposes, including, among other things, to extend its debt maturity profile through the repayment of its shorter-term indebtedness, which may include its 4.65% senior notes due in September, whether through redemption, repurchase or otherwise.

The outlook remains negative.

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