On Dec. 14, 2004, Standard&Poor's Ratings Services assigned its 'BB+' long-term local currency debt rating to four bonds, totaling Peruvian new soles (PNS) 166.5 million (US$50.8 million), issued on Dec. 6 and 7, 2004, by the Republic of Peru (BB/Stable/B foreign currency ratings; BB+/Stable/B local currency ratings) in its domestic market. Standard&Poor's Ratings Services also assigned its 'BB+' long-term local currency debt rating to an additional PNS1.7 billion (US$530 million) in Peruvian domestic bonds issued since January 2004 by the Peruvian government in its own market (a list of these bonds appears at the end of this update). According to Standard&Poor's credit analyst Sebastian Briozzo, the ratings on Peru take into account the recent
