S&P: Banco de Credito del Peru unaffected

Standard & Poor's said its ratings and outlook on Banco de Credito del Peru (BBB-/stable/A-3) are unchanged following the bank's recent issuance of $160 million Peruvian New Soles-linked subordinated notes (not rated).

The agency said that the notes will mature in 2022, with payments of interest and principal to be settled in dollars at the then prevailing exchange rate.

While Banco de Credito del Peru proves its wide access to global capital markets, the agency said that this transaction funds further diversification and strengthens the bank's regulatory capital to sustain loan portfolio growth in the short to medium term.

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