With the market attempting to weigh up when Brazil will become an investment-grade credit, another Latin American sovereign, Peru, could enjoy that status as early as the year-end, according to analysts.
Moody’s Investors Service upgraded Peru’s foreign-currency bond rating to Ba2 from Ba3 last month – still two notches below investment grade. Standard & Poor’s, though, has the Andean nation at BB+, which is just one level below.
Peru is now a net creditor and is paying off external obligations.
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