Banco de Credito del Peru's Proposes Senior Unsecured Notes Of Up To $300 Million Rated 'BBB'

MEXICO CITY (S&P Global Ratings) Oct. 20, 2016—S&P Global Ratings assigned its 'BBB' issue-level rating to Banco de Credito del Peru's (BCP; BBB/Stable/A-2) senior unsecured notes of up to $300 million due 2019. The rating on the notes is the same as the BCP's long-term issuer credit rating, because they rank equally in right of payment with all of the bank's other senior unsecured debt. The notes represent around 0.9% of the bank's total funding base as of June 2016. BCP will use the proceeds from the offering for general corporate purposes. We continue to assess BCP's funding as average compared to the industry's norm. Customer deposits accounted for 67.4% of the bank's total funding base at the end of

...MEXICO CITY (S&P Global Ratings) Oct. 20, 2016--S&P Global Ratings assigned its '###' issue-level rating to Banco de Credito del Peru's (BCP; ###/Stable/A-2) senior unsecured notes of up to $300 million due 2019. The rating on the notes is the same as the BCP's long-term issuer credit rating, because they rank equally in right of payment with all of the bank's other senior unsecured debt. The notes represent around 0.9% of the bank's total funding base as of June 2016. BCP will use the proceeds from the offering for general corporate purposes. We continue to assess BCP's funding as average compared to the industry's norm. Customer deposits accounted for 67.4% of the bank's total funding base at the end of June 2016. The remaining funding sources are interbank credit lines and other financial obligations, including senior and subordinated bonds, hybrid instruments, and its remittances' diversified payments right. Around 56% of these deposits are retail, which we consider to be more stable...

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