Credicorp’s BBB- Rating Affirmed With Stable Outlook as Sovereign Risk Caps Upside

The latest update is out from Credicorp ( (BAP) ).

On April 30, 2026, S&P Global Ratings affirmed Credicorp Ltd.’s long-term issuer credit rating at BBB- with a stable outlook, updating its figures as of December 2025 and underscoring the group’s strong business position, adequate capitalization and liquidity. The rating remains constrained by Peru’s sovereign rating and political risks, but S&P noted that Credicorp’s asset growth, the 2025 buyout of its Banmédica joint venture stake, and the planned acquisition of U.S.-based Helm Bank should not materially alter its credit profile, particularly after the holding company fully repaid its $500 million bond in 2025 and signaled it does not plan to add new debt in 2026.

The stable outlook reflects expectations that Credicorp will maintain conservative double leverage, avoid fresh holding-company borrowing and continue to rely on its resilient core subsidiary Banco de Credito del Peru, while any future rating changes will likely track movements in Peru’s sovereign rating or shifts in the group’s funding strategy. For stakeholders, the reaffirmed rating and conservative balance-sheet stance support confidence in Credicorp’s financial resilience, even as domestic political uncertainties temper prospects for stronger operating conditions in its home market.

The most recent analyst rating on (BAP) stock is a Buy with a $408.00 price target. To see the full list of analyst forecasts on Credicorp stock, see the BAP Stock Forecast page.

Spark’s Take on BAP Stock

According to Spark, TipRanks’ AI Analyst, BAP is a Outperform.

The score is primarily driven by strong and improving fundamental profitability and balance-sheet leverage trends, supported by a constructive earnings outlook and capital/dividend positioning. Valuation is also supportive with a moderate P/E and solid yield. Offsetting factors are cash-flow volatility and mixed near-term technical momentum.

To see Spark’s full report on BAP stock, click here.

More about Credicorp

Credicorp Ltd. is a Bermuda-based non-operating holding company with major investments in Peru’s financial sector and a growing presence in other Latin American markets. Through subsidiaries such as Banco de Credito del Peru, it holds dominant positions across multiple banking and financial service segments, supported by a diverse asset base, steady earnings and ample liquidity.

Average Trading Volume: 462,935

Technical Sentiment Signal: Buy

Current Market Cap: $25.78B

Find detailed analytics on BAP stock on TipRanks’ Stock Analysis page.