...OVERVIEW + Two negative shocks, which we view as temporary, have hurt the Peruvian economy this year, leading the government to launch a fiscal stimulus plan and loosen its fiscal targets for the next four years. + The Republic of Peru's low government debt, coupled with monetary policy credibility and an improved external profile, are key ratings strengths that provide support during this temporary policy adjustment. + We are affirming the long-term foreign and local currency ratings on Peru at '###+' and 'A-', respectively, and the short-term ratings at 'A-2'. + The stable outlook incorporates our expectation that Peru's economy will gradually gain momentum, with a long-awaited recovery in investment after the transitory shocks fade while it continues to maintain a solid fiscal profile. RATING ACTION On June 14, 2017, S&P Global Ratings affirmed its long-term foreign currency sovereign credit rating of '###+' and long-term local currency sovereign credit rating of 'A-' on the Republic...