Moody's Investors Service announced the credit quality of Peru's non-financial corporate issues will remain stable through mid-2015, with strong growth rates for private consumption and public investment.
According to the agency’s Senior Analyst and Vice President Veronica Amendola, Peru has experienced a slight slowdown in annual growth to 5.5 percent based on data provided by the Central Reserve Bank (BCR) of Peru.
"Despite this mild slowdown, we see strong growth rates for private consumption and public investment," said Amendola in the report "Corporate Credit Quality in Peru: Peru Enjoys Higher Consumer Confidence But Braces for Weak Metal Prices and El Niño."
Moody's notes that an El Niño storm in the second half of 2015 will moderately reduce levels for agricultural companies and fisheries, as increasing average temperatures will reduce catches for fisheries.
Corporate Credit Quality in Peru is part of a package of five Moody's research reports on the key issues affecting corporate credit quality in Latin America's largest economies.
Such a package includes reports on Argentina, Brazil, Chile and Mexico.
The reports examine the economic outlook, liquidity trends, foreign currency exposures and other issues that will affect the credit quality of non- financial companies in these countries during the next 12 months.
(END) JJN/AQR/RMB
Published: 7/31/2014