On August 28, we revised the outlook on Peru to positive from stable. We are revising our outlook to positive from stable and affirming the 'BBB' rating on Peru-based bank Mibanco. Despite increased competition, we expect Mibanco to continue consolidating its market position, especially in the microfinance sector. SAO PAULO (Standard&Poor's) Aug. 29, 2012--Standard&Poor's Ratings Services revised its outlook on Mibanco Banco de la Microempresa S.A. to positive from stable. At the same time, we affirmed our 'BBB' rating on the bank. The rating action on the bank follows our outlook revision on Peru (please see "Republic of Peru Outlook Revised To Positive; Ratings Affirmed," published on Aug. 28, 2012 on RatingsDirect). All things being equal,
