Banco de Credito del Peru And Subsidiary Upgraded To 'BBB+' From 'BBB' On Stronger Capitalization, Outlook Stable

In our view, Peru-based universal bank Banco de Credito del Peru (BCP)'s capitalization has strengthened due to sound internal capital generation. We expect BCP to maintain prudent risk management while it keeps its positon as the largest bank in Peru. We're upgrading BCP to 'BBB+/A-2' from 'BBB/A-2'; revising its stand-alone credit profile (SACP) to 'bbb+' from 'bbb'; and raising our ratings on the bank's senior debt to 'BBB+' from 'BBB', subordinated debt to 'BBB' from 'BBB-', and junior subordinated debt to 'BB+' from 'BB'. The outlook remains stable. The stable outlook on BCP reflects our view that it will maintain the current level of capitalization amid fairly good asset quality for the next 24 months. Additionally, we're raising the ratings

...+ In our view, Peru-based universal bank Banco de Credito del Peru (BCP)'s capitalization has strengthened due to sound internal capital generation. + We expect BCP to maintain prudent risk management while it keeps its positon as the largest bank in Peru. + We're upgrading BCP to '###+/A-2' from '###/A-2'; revising its stand-alone credit profile (SACP) to '###+' from '###'; and raising our ratings on the bank's senior debt to '###+' from '###', subordinated debt to '###' from '###-', and junior subordinated debt to '##+' from '##'. The outlook remains stable. + The stable outlook on BCP reflects our view that it will maintain the current level of capitalization amid fairly good asset quality for the next 24 months. + Additionally, we're raising the ratings on the bank's core subsidiary, MiBanco, to '###+/A-2' from '###/A-2'. The outlook on the subsidiary remains stable. SAO PAULO (S&P Global Ratings) Oct. 18, 2017--S&P Global Ratings raised its long-term issuer credit rating on BCP to...

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