September 7, 2021 |
Moody’s downgraded five Peruvian banks last Thursday to Baa1 from A3 with a stable outlook following the country’s sovereign debt downgrade earlier that week.
According to the ratings agency, Banco de la Nación’s long-term currency deposit downgrade is based on the bank’s 100% ownership by the Ministry of Economy and Finance and its policy mandate as the financial agent of Peru's national, regional and local administrations, as well as for government-owned enterprises.
The downgrade of Scotiaban
Credit ratings agency downgrades five Peruvian banks amid political uncertainty