Fitch rates Peru green bonds BBB

Fitch Ratings said it assigned a BBB rating to Peru's PEN 9.2 billion of 7.3% notes maturing 2033. Peru issued the 2033 bonds in accordance with its sustainable bond framework.

“The bond rating is in line with Peru's long-term local currency issuer default rating (IDR) of BBB, which Fitch affirmed with a negative outlook on April 28, 2023,” the agency said in a press release.

The proceeds will be used to fund a concurrent tender offer and fiscal expenditures that may qualify as "eligible green and social categories".

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