Moody’s upgrades Peruvian Banks

Moody's Investors Service said it upgraded the long-term local and foreign currency deposit ratings of Banco de Credito del Peru SA and Scotiabank Peru to Baa1 from Baa2.

The agency also upgraded the long-term local and foreign currency deposit ratings of Banco Internacional del Peru SAA - Interbank to Baa2 from Baa3 and raised its short-term local and foreign currency deposit ratings to Prime-2 from Prime-3.

At the same time, Moody’s upgraded the foreign currency senior unsecured debt ratings of Banco de Credito del Peru to Baa1 from Baa2 with a stable outlook and upgraded the foreign currency senior unsecured debt ratings of Interbank to Baa2 from Baa3.

The outlooks are stable.

Moody's also upgraded the long-term local and foreign currency issuer ratings of government-owned Corporacion Financiera de Desarrollo SA (Cofide) to Baa2 from Baa3, also with a stable outlook.

The actions follow the upgrade of Peru's local and foreign currency government bond ratings to A3 stable from Baa2 positive.

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