MiBanco Long-Term Rating Raised To 'BBB+'; 'A-2' Short-term Rating Affirmed; Off Watch Positive; Outlook Negative

In March 2014, Peru's regulator approved Edyficar's acquisition of a majority of Peru-based bank, MiBanco's shares. We now consider MiBanco to be a "core" subsidiary of Peru's largest bank, BCP, Edyficar's parent. We are raising our long-term issuer credit rating on MiBanco to 'BBB+' from 'BBB' and affirming the short-term rating at 'A-2'. We are removing the ratings from CreditWatch with positive implications where we placed them on Feb. 12, 2014. The negative outlook on MiBanco reflects that on BCP, which mirrors the increased risks in the Peruvian banking system, reflected in the negative trend in our Banking Industry Country Risk Assessment's (BICRA) economic risk. MEXICO CITY (Standard&Poor's) Nov. 28, 2014--Standard&Poor's Ratings Services raised its long-term

...+ In March 2014, Peru's regulator approved Edyficar's acquisition of a majority of Peru-based bank, MiBanco's shares. We now consider MiBanco to be a "core" subsidiary of Peru's largest bank, BCP, Edyficar's parent. + We are raising our long-term issuer credit rating on MiBanco to '###+' from '###' and affirming the short-term rating at 'A-2'. We are removing the ratings from CreditWatch with positive implications where we placed them on Feb. 12, 2014. + The negative outlook on MiBanco reflects that on BCP, which mirrors the increased risks in the Peruvian banking system, reflected in the negative trend in our Banking Industry Country Risk Assessment's (BICRA) economic risk. MEXICO CITY (Standard & Poor's) Nov. 28, 2014--Standard & Poor's Ratings Services raised its long-term issuer credit rating (ICR) on MiBanco, Banco de la Microempresa S.A. (MiBanco) to '###+' from '###'. At the same time, we are affirming our short-term ICR on MiBanco at 'A-2'. The outlook is negative. The rating action...

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