BUENOS AIRES (Standard&Poor's) July 23, 2007--Standard&Poor's Ratings Services said today that it revised its outlooks on its 'BB+' long-term foreign and 'BBB-' long-term local currency sovereign credit ratings on the Republic of Peru to positive from stable. Standard&Poor's also affirmed its 'B' short-term foreign and 'A-3' short-term local currency sovereign credit ratings on the republic. According to Standard&Poor's credit analyst Sebastian Briozzo, the positive outlook stems from two factors. "First, strong economic growth prospects from rising investment will continue to strengthen Peru's macroeconomic framework over the medium term and make it less vulnerable to both terms-of-trade shocks and political instability," said Mr. Briozzo. He explained that more diversified sources of growth, including
