S&P shifts view on four Peruvian banks

S&P said it revised the outlooks for four Peruvian banks to negative from stable, citing mounting credit losses in Peru.

S&P revised the outlook to negative and affirmed ratings on the holding company Intercorp Financial Services Inc., Banco BBVA Peru, Banco de Credito del Peru and its core subsidiary MiBanco, Banco de La Microempresa SA.

The agency also affirmed the ratings and stable outlooks on Credicorp Ltd., Scotiabank Peru SAA, Banco Internacional del Peru SAA - Interbank, Corporacion Financiera de Desarrollo SA (Cofide), and Fondo Mivivienda SA. These banks can absorb greater credit losses from the economic deterioration without it affecting the ratings in the agency’s base case due to various mitigating factors, S&P said.

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