Peruvian economy on a roll – investment grade rating from Fitch

by Dave

Grew 9% last year, on course for 7% this year. Indian investors take note.

via Reuters

INVESTMENT GRADE, DEBT

Fitch on Wednesday raised its foreign currency sovereign credit rating to “BBB-” from “BB+” with a stable outlook.

Standard & Poor’s rates Peru at “BB+”, one notch below investment grade, while Moody’s Investors Service rates Peru two notches below at “Ba2″.

“The economic performance we’ve been having is very positive and at some point the two other agencies will feel more comfortable about giving us investment grade,” he said.

What the ratings upgrade means: Further upgrades would give Peru wider access to cheaper, longer-term debt and lure more investments from abroad.

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