Peru-based bank BCP has maintained its predominant position in the Peruvian financial system, leading to a sound business position and revenue stability. Recent growth in the consumer segment has increased its nonperforming assets, credit losses, and loan loss provisioning, pressuring asset quality and bottom-line results. We are affirming our 'BBB' long-term and 'A-2' short-term issuer credit ratings on the bank. We could raise the ratings on BCP if we upgrade the sovereign ratings on Peru and if its stand-alone credit profile is unchanged. On July 4, 2013, Standard&Poor's Ratings Services affirmed its 'BBB' long-term and 'A-2' short-term issuer credit ratings on Banco de Credito del Peru (BCP). At the same time we affirmed our issue-level 'BB+' rating on
