Peru-based development bank Corporacion Financiera de Desarrollo S.A.(COFIDE) has maintained its significant role in funding domestic infrastructure projects, very strong link with the government, and stand-alone credit profile (SACP) of 'bbb'. We're affirming our 'BBB+/A-2' issuer credit ratings on COFIDE. The stable outlook reflects our view that the ratings on COFIDE will likely move in tandem with those on the sovereign if the bank's SACP remains above 'bb+'. On May 10, 2016, S&P Global Ratings affirmed its 'BBB+/A-2' rating on Corporacion Financiera de Desarrollo S.A. (COFIDE). The outlook is stable. COFIDE is the second-largest government-owned bank in Peru; it's a development bank mainly focused on infrastructure projects. The ratings on COFIDE reflect its SACP of 'bbb' and our view of
