Bulletin: Peru Ratings Not Immediately Affected By President's Resignation

MEXICO CITY (S&P Global Ratings) March 22, 2018--S&P Global Ratings said today that the resignation announcement of President Pedro Pablo Kuczynski has no immediate implications for its sovereign credit ratings on Peru (foreign currency: BBB+/Stable/A-2; local currency: A-/Stable/A-2). Vice President Martín Vizcarra is set to be sworn in tomorrow to replace President Kuczynski until 2021 when the government's mandate expires. On March 21, 2018, President Kuczynski announced his resignation. The resignation announcement came the day before legislators were set to vote on an impeachment motion. The motion was filed against the president on the basis of "moral incapacity," alleging his consultancy firm received payments from Brazilian construction company Odebrecht a few years ago. These allegations are among a number of

...MEXICO CITY (S&P Global Ratings) March 22, 2018--S&P Global Ratings said today that the resignation announcement of President Pedro Pablo Kuczynski has no immediate implications for its sovereign credit ratings on Peru (foreign currency: ###+/Stable/A-2; local currency: A-/Stable/A-2). Vice President Martfn Vizcarra is set to be sworn in tomorrow to replace President Kuczynski until 2021 when the government's mandate expires. On March 21, 2018, President Kuczynski announced his resignation. The resignation announcement came the day before legislators were set to vote on an impeachment motion. The motion was filed against the president on the basis of "moral incapacity," alleging his consultancy firm received payments from Brazilian construction company Odebrecht a few years ago. These allegations are among a number of ongoing investigations into Peruvian politicians and businesses accused of receiving bribes from the construction firm. The president's resignation was very likely influenced...

Bulletin