Credicorp (BAP) has released an update.
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Following a sovereign downgrade by S&P Global Ratings, six Peruvian financial institutions including Credicorp have also been downgraded, with a stable outlook reflecting expectations of moderate economic recovery. This action is based on the influence of the Peruvian sovereign creditworthiness on domestic financial institutions, amidst a complex political landscape that could pose risks to investment and growth. The outlook remains stable due to anticipated resilience in government debt levels and dividends from Credicorp’s operations.
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