Banco de Credito del Peru's Proposed Senior Unsecured Notes Due 2020 Rated 'BBB+'

SAO PAULO (S&P Global Ratings) Oct. 25, 2017--S&P Global Ratings assigned its 'BBB+' issue-level rating to Banco de Credito del Peru's (BCP; BBB+/Stable/A-2) proposed senior unsecured notes due 2020. The rating on the notes is the same as the long-term issuer credit rating on BCP, because we expect the notes to rank equally in right of payment with all of the bank's other senior unsecured debt. The notes will represent less than 2% of the bank's total funding base as of June 2017. BCP will use the proceeds from the offering for general corporate purposes. The issuer credit ratings on BCP continue to reflect its leading position in practically all the business lines in which it operates, with a 36%

...SAO PAULO (S&P Global Ratings) Oct. 25, 2017--S&P Global Ratings assigned its '###+' issue-level rating to Banco de Credito del Peru's (BCP; ###+/Stable/A-2) proposed senior unsecured notes due 2020. The rating on the notes is the same as the long-term issuer credit rating on BCP, because we expect the notes to rank equally in right of payment with all of the bank's other senior unsecured debt. The notes will represent less than 2% of the bank's total funding base as of June 2017. BCP will use the proceeds from the offering for general corporate purposes. The issuer credit ratings on BCP continue to reflect its leading position in practically all the business lines in which it operates, with a 36% market share in loans (when including its subsidiary, MiBanco); projected risk-adjusted capital ratio of 11% for the next 18-24 months; and a diversified and stable funding profile with a 111.2% stable funding ratio, similar to those in the past three years. Also, the bank's liquidity coverage...

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