Fitch Affirms Peru Rating

Fitch has affirmed Peru’s BBB minus debt rating, citing a solid macroeconomic framework and ability to withstand the current economic downturn. The outlook is stable. The ratings notice is the latest in a long line of teases suggesting a new debt issue is forthcoming. The issuer wrapped up meetings with investors this month, with finance minister Luis Valdivieso stating recently that January looks like a good time for a new issue and that there is demand for at least $600m. Goldman Sachs and JPMorgan handled Peru’s investor meetings.