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Fitch Revises Outlook From Stable To Neutral On Political Volatility

Fitch revised Peru's outlook to negative from stable whilst affirming its 'BBB' rating, with weakened investment and economic prospects potentially undermining Peru vs other BBB peers. Reuters reports following headlines:
  • Says a deterioration in political stability and government effectiveness has increased downside risks to Peru's ratings.
  • It expects that weakening of Peru's political governance institutions will be difficult to reverse over fitch's forecast period to end-2024.
  • Thinks Peru's weakened investment, economic prospects, if sustained over 2023-2024, could undermine its macro, fiscal trajectory vs 'BBB' peers.
  • Weaker governance poses greater downside risks to investment and economic growth to Peru than fitch's expectation earlier this year.

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