Moody's lifts Banco de Credito

Moody's Investors Service said it upgraded Banco de Credito del Peru's long-term foreign-currency deposit rating to Ba3 from B1, in line with the sovereign ceiling for foreign-currency deposits.

Moody's said it also raised the bank's Panama branch foreign-currency subordinated notes maturing in 2021 to Ba1 from Ba2, based on the upgrade of Peru's foreign-currency bond ceiling.

The outlook is stable.

Both ratings were placed on review for upgrade on March 8.

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