Bloomberg News

Peru Investment-Grade Rating Isn’t at Risk, Esteruelas Says

June 06, 2011

June 6 (Bloomberg) -- Peru’s investment-grade credit rating isn’t at risk from Ollanta Humala, who claimed victory in yesterday’s presidential elections, and the country’s fundamentals remain “unbelievably strong,” said Patrick Esteruelas, a senior analyst at the sovereign risk group at Moody’s Investors Service.

Humala toned down his anti-business rhetoric toward the end of the campaign season and doesn’t appear poised to seek any sharp policy changes that would threaten the foundations of the country’s economy, Esteruelas said in a telephone interview from New York.

“Peru’s credit fundamentals are so unbelievably strong to begin with, which frankly leaves plenty of space for potential additional upgrades if things were to remain as is,” Esteruelas said. “Peru has the highest potential growth rate in the region.”

--Editors: Brendan Walsh, Glenn J. Kalinoski

To contact the reporter on this story: Benjamin Bain in New York at bbain2@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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