We consider MiBanco to be a core subsidiary of Banco de Credito del Peru, a major bank in Peru. Following the incorporation of Edyficar, MiBanco remains the leading bank in Peru's microfinance lending. We're affirming our 'BBB/A-2' issuer credit ratings on Mibanco. Our stable outlook on MiBanco reflects that of BCP and our view that the former will remain the latter's "core" subsidiary. On Nov. 11, 2015, Standard&Poor's Ratings Services affirmed its 'BBB/A-2' issuer credit ratings on MiBanco, Banco de La Microempresa S.A. The outlook remains stable. The issuer credit rating on MiBanco reflects its status as a "core" subsidiary of Banco de Credito del Peru (BCP; BBB/Stable/A-2) given that the former operates in lines of business integral
