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PERU: Moody’s Raises Outlook On Baa1 Sovereign Credit Rating To Stable

PERU
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  • Moody’s has affirmed Peru’s foreign issuer rating at Baa1, while raising the outlook to stable, from negative. In a statement, Moody’s said that the outlook change to stable reflects their assessment that the adoption of political reforms alleviates medium-term concerns about institutional stability that could have durably weighed on governability.
  • Meanwhile, Petroperu said on Friday that its Marañón river transportation operations have been blocked by people from the Concordia community and that it urged the authorities to find a solution to guarantee fuel supplies.
  • This week, the domestic data calendar is light, with focus on September CPI data next, which are due on October 1. Last week, BCRP Governor Velarde said that headline inflation will be around 2.00-2.05% y/y in September (vs. 2.03% in August) and that he is confident it will remain within the 1-3% target range this year.
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  • Moody’s has affirmed Peru’s foreign issuer rating at Baa1, while raising the outlook to stable, from negative. In a statement, Moody’s said that the outlook change to stable reflects their assessment that the adoption of political reforms alleviates medium-term concerns about institutional stability that could have durably weighed on governability.
  • Meanwhile, Petroperu said on Friday that its Marañón river transportation operations have been blocked by people from the Concordia community and that it urged the authorities to find a solution to guarantee fuel supplies.
  • This week, the domestic data calendar is light, with focus on September CPI data next, which are due on October 1. Last week, BCRP Governor Velarde said that headline inflation will be around 2.00-2.05% y/y in September (vs. 2.03% in August) and that he is confident it will remain within the 1-3% target range this year.