NEW YORK (Standard&Poor's) July 11, 2005--Standard&Poor's Ratings Services said today that it revised its outlook on its ratings on the Republic of Peru to positive from stable. At the same time, Standard&Poor's affirmed its 'BB' long-term foreign currency, 'BB+' long-term local currency, and 'B' short-term sovereign credit ratings on the republic. Standard&Poor's also assigned its 'BB+' local currency rating to the Peruvian Nuevos soles (PNS) 1.5 billion (US$460 million) in bonds due in 2017 issued on July 7, 2005, as part of Peru's the overall strategy to exchange external debt held with the Paris Club. According to Standard&Poor's credit analyst Sebastian Briozzo, the change in outlook reflects the growing prospect
