Credicorp Among Six Downgraded Amid Peru’s Challenges

Credicorp (BAP) has released an update.

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.

For further insights into BAP stock, check out TipRanks’ Stock Analysis page.