Peru’s Investment-Grade Credit Rating at Risk from Strong El Nino, Credicorp Warns

Peru · Economy Key Facts —S&P Downgrade S&P Global Ratings cut Peru’s sovereign rating to BBB- in April 2024, the lowest level still considered investment grade, increasing investor sensitivity to new economic shocks. —Climate Risk to Rating Credicorp Capital analyst Jonathan Gutiérrez warned that a severe El Niño could hurt Peru’s sovereign credit quality if…