Strong business position within the Peruvian financial system as the largest bank in the country; Sound operating performance and track record in Peru; and Adequate capitalization. Deteriorated asset quality industrywide due to soft investor confidence in the country; and Still meaningful dollarization in the banking system. S&P Global Ratings' stable outlook on Banco de Crédito del Perú (BCP) reflects our view that it will maintain its leading position in the country, sound operating performance, adequate capitalization, and asset quality. A downgrade in the next two years is unlikely in our view because it would follow only if we were to lower the stand-alone credit profile (SACP) on the bank by two notches or more. If we were to lower the
