S&P cuts Peru’s ACP on Mibanco sale

S&P cuts Peru’s ACP on Mibanco sale

Corporate & Sovereign Strategy

Standard & Poor’s downgraded Grupo ACP by two notches, to BB-, and withdrew the rating at the issuer’s request, it said on Wednesday. The moves come after the Peruvian holding company closed the sale of microlender Micbanco to Credicorp for $179.5m.

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