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Fitch Upgrades Banco de Credito del Peru to 'BBB'; Outlook Revised to Stable.

Publication: Business Wire
Publication Date: 21-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings has today upgraded Banco de Credito del Peru's (BCP) ratings as follows:

--Foreign currency long-term Issuer Default Rating (IDR) to 'BBB' from 'BBB-';

--Foreign currency short-term IDR to 'F2' from 'F3';

--Local currency long-term IDR to 'BBB' from 'BBB-';

--Local currency short-term IDR to 'F2' from 'F3';

--Subordinated debt to 'BBB-' from 'BB+'.

At the same time, Fitch has affirmed the following ratings:

--Individual rating at 'C';

--Support rating at '3';

--Support Floor at 'BB+'.

The Rating Outlook is revised to Stable from Positive.

BCP ratings were upgraded in view of the bank's strong performance through the crisis. Despite a slowing economy, the bank's performance has been much less affected than that of regional peers, and Fitch expects that the bank's...

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