On Aug. 19, 2013, we raised our long-term foreign currency rating to 'BBB+' from 'BBB' and local currency rating to 'A-' from 'BBB+' on the Republic of Peru. Following the sovereign rating action, we are raising the ratings on Banco de Credito del Peru whose stand-alone credit profile is above the sovereign ratings. The outlook is stable. On Aug. 20, 2013, Standard&Poor's Ratings Services raised the global scale issuer credit ratings on Banco de Credito del Peru to 'BBB+' from 'BBB'. The short-term rating on the bank remains 'A-2'. The rating outlook is stable. We also raised the ratings on four other Peru banks: Scotiabank Peru S.A.A., Corporacion Financiera de Desarrollo S.A., Fondo Mivivienda S.A., and BBVA Banco
