MEF Emphasizes Peru’s Investment Grade Ratification

May 14, 2009 09:51 Fitch, credit rating agency, emphasized yesterday the country’s economic outlook in the face of the international crisis.

The Ministry of Economy and Finance (MEF) underscored that Fitch Ratings, a credit rating agency, had ratified Peru’s investment grade qualification, even though it had reduced it to other countries in the midst of the international financial crisis.

Yesterday, Fitch Ratings ratified Peru’s investment grade qualification on its long term debt in foreign exchange (-BBB) and long term debt in local currency (BBB), and reaffirmed the stable projection of both debts.

“This is extraordinary news in a scenario where the majority of countries and corporations are having their ratings reduced or at the least, their projections are being changed from stable to negative, which is a previous step to a rating reduction”, said MEF’s head, Luis Carranza.

The minister will declare before the Multiparty Commission for the Oversight of the International Crisis in Congress the advances of the Economic Stimulus Plan implemented by the government to confront the global financial turbulence.

Source: Diario Gestión

Photo: Imperio Romano.com

Tags Blogalaxia: Tourism, Peru, Peruvian Economy, Investment.

Share:      

Related posts

1. Commerce between Canada and Peru estimated to grow 15% in 2009
2. MEF: The Peruvian economy recovers in the last few months
3. Asbanc: Bank loans will grow between 6% and 10% this year
4. Peru will be the only Latin America Economy to grow in 2009
5. Brescia Group buys cement factory Lafarge, the largest Peruvian investment in Chile
6. Peruvian Economy Contracts for the First Time since June 2001
7. Peru will have 40,000 hectares of oil palm to produce biodiesel in 2010
8. Peru will be the stage for the 2010 Longboard World Championship
9. Remittances from Peruvians in Spain resist the financial crisis and stay stable