On Feb. 10, 2014, the Credicorp Group announced its plan to acquire Grupo ACP's main operating subsidiary, Mibanco, through its subsidiary Edyficar. We are placing our 'BBB/A-2' ratings on Mibanco on CreditWatch Positive. We expect to resolve the CreditWatch placement once the transaction is approved by the Peruvian bank authority and after we assess the new ownership's strategic importance for Mibanco. On Feb. 12, 2014, Standard&Poor's Ratings Services placed its 'BBB/A-2' ratings on Mibanco, Banco De La Microempresa S.A. (Mibanco) on CreditWatch positive. The rating action follows Credicorp Ltd.'s (Credicorp; not rated) announcement that it has entered into a binding agreement, through its subsidiary Empresa Financiera Edyficar S.A. (Edyficar; not rated), to buy Grupo ACP Inversiones Y Desarrollo's
