Fitch: Banco de Credito notes BBB+

Fitch Ratings said it expects to assign a BBB+ rating to Banco de Credito del Peru's upcoming 10-year dollar-denominated senior unsecured notes of an amount to be determined.

Banco de Credito has a long-term local currency issuer default rating of BBB+ and a long-term foreign currency issuer default rating of BBB+; both of them driven by Banco de Credito's viability rating, which is currently at BBB+.

Fitch said the bank's ratings reflect its dominant franchise; large market share; sound performance; diversified balance sheet and revenue stream; broad, low-cost deposit base; sound asset quality; and adequate reserves and capital.

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