The issuer credit ratings on Banco de Credito del Peru (BCP) are based on its "strong" business position, "adequate" capital and earnings and risk position, and our view of its "average" funding and "adequate" liquidity (as our criteria defines these terms). The bank's stand-alone credit profile (SACP) is 'bbb+'. Our bank criteria use our Banking Industry Country Risk Assessment (BICRA) economic risk and industry risk scores to determine a bank's anchor, the starting point in assigning an issuer credit rating. Our anchor for a commercial bank operating only in Peru is 'bbb'. Our economic risk score for Peru is '5', reflecting our opinion that economic improvements and the government's commitment to maintaining cautious fiscal policies and economic stability have strengthened
