MiBanco has remained the leading bank in Peru's microfinance lending sector, while the bank's asset quality and operational performance have continued to improve despite still-soft economic conditions. We're affirming our 'BBB/A-2' issuer credit ratings on MiBanco. Our stable outlook reflects that of its parent bank, Banco de Credito del Peru, and our view that the bank will remain the Banco de Credito del Peru's core subsidiary in developing its microfinance business arm. On Sept. 6, 2017, S&P Global Ratings 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
