SAO PAULO (S&P Global Ratings) Aug. 28, 2019--S&P Global Ratings assigned its 'BBB+' issue-level rating to Banco de Credito del Peru's (BCP; BBB+/Stable/A-2) two proposed issuances of senior unsecured notes of approximately PEN1.5 billion and up to $600 million, subject to market conditions. The proceeds of both issuances will be mainly used to repurchase existing bonds, including PEN2 billion due October 2020 and the $800 million notes due September 2020. Together, this debt accounts for about 4% of the bank's funding base as of June 2019. In this sense, BCP is launching a tender offer to purchase both bonds that mature in 2020 under conditions that we consider as opportunistic, given that the bank is offering a higher value than
