We expect significant investments in mining, oil and gas, infrastructure, and electricity to continue to support Peru's GDP growth prospects and exports. We are revising our outlook on the ratings on Peru to positive from stable. We are affirming our 'BBB/A-2' foreign currency ratings and our 'BBB+/A-2' local currency ratings on Peru. On Aug. 28, 2012, Standard&Poor's Ratings Services revised its outlook on the Republic of Peru to positive from stable. At the same time, we affirmed our 'BBB/A-2' foreign currency and 'BBB+/A-2' local currency sovereign credit ratings on Peru. The positive outlook reflects our expectation that strong investment will continue to sustain GDP growth in the coming years, gradually strengthening the macroeconomic pillars supporting the rating on