Moody's affirms Banco de Credito del Peru

Moody's Investors Service said it affirmed all of Banco de Credito del Peru's ratings, including its D+ bank financial strength rating, Baa2/Prime-2 long- and short-term local currency deposit ratings and Baa3/Prime-3 long- and short-term foreign currency deposit ratings.

At the same time, Moody's affirmed the Baa3 local currency subordinated debt rating and the Baa2 and Baa3 ratings of the foreign currency senior and subordinated debt issued via its Panamanian Branch.

All the ratings have a stable outlook, with the exception of the foreign currency deposit rating, which has a positive outlook, in line with the positive outlook of the sovereign ceiling for foreign currency deposits in Peru, the agency said.

Moody's said the affirmations reflect the bank's growing core profitability, increasing business diversification, well managed asset quality and liquidity and improving capitalization.

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